The San Francisco call., 1897-06-19
MRS. ALExANDER'S SHARE.
An Authentic Account OF Her
Settlement with Isaac
Hoffman,

Hoffman.
Much stress has been laid on the state
ment that Mrs. Alexander was not salts
fed with the settlement made with her by
the firm of Hoffman, Rothchild & Co.,
and that consequently the relations be-
tween herself and the late Isaac Hoffman
were of a strained nature. Some went so
far as TO aver that certain assets of the
firm OF Hoffman, Alexander & Co., To-
Gated in New YORK, had been withheld
from the statement of the firms standing
upon which the final settlement was made,
and that Alexander's widow had been, in
consequence, deprived of many thousands
OF dollars.
From one who is so closely connected
with all parties concerned that his state
ment can be relied upon was obtained the
following statement:
From my intimate acquaintance with
the Hoffman and Alexander families" I"
said she, Il was brought into the dis
cusslon 10 such an extent that l am thor
oughly acquainted with every detail of il.
L can stale with absolute posltiveneSs that
Mrs. Alexander received SAT, 900 for her
husbands interest in the firm in notes
secured by responsible indorsers bearing
interest at the rate of o Ier cent per
annum.
AS III " HUI lnlo S6lNl6uelL
was arrived at was as follows: The total
assets OF the firm over and above all liza
bilities amounted to about $165 900. As
Mrs. Alexander's share was one-third it
naturally follows that size would be en-
titled to about SOL 500 if the assets were all
capable of being converted into their cash
value. lncluret in the assets was one
item OF $l75000 and odd dollars of out
standing debts due the firm over which
the dispute arose. Mrs. Alexander de
sired her full share in this, to which Hoff-
man demnrred, urging that the hard
times would moi warrant his considering
over 70 per cent of this collectible, and
that me amount should be reduced by %
per cent. Mrs. Alexander strenuously
objected to this, claiming that her hus-
band had fOundet the house and she
should De saved this reduction al least for
the goodwill OF the concern.
This proposition was met by Hoffman
with the statement that in commercial
circles the goodwill of any house was
considered practically valueless, as Gus
toners nowadays would go to the firm
VINO sod tbe best goods at the lowest
prices, regard eSs of the standing of any
other house, and he had been the active
partner and had built up the business to
its present large proportions any claim
for the goodwill was offset.
MRS. Alexander's attorney then at
ing 10 accept $4,000 in full satisfaction of
her claim, to which Hoffman again OBJ
iected.
He stated that this amount was alto
gether too much, backing his remark up
by the following statement: Say the as
sets of the firm were in round figures
$l66, 900, Mrs. Alexander's interest would
be worth $62 600.
The items included in these assets oil
$l76 900 Of book accounts represent a real
value of only 1892, 900; in other words,
should be reduced by $44 900. Mrs. Alex
ander should STAND one-third of this
amount, or $l4,666. Deducting this from
the sum Mrs. Alexander claims would
make her real interest amount to about
$47, 900.
after somss arguing pro and con, this
sum was liked upon as the amount to be
paid Mrs. Alexander, but as The with
drawal of such large sum from the busi-
ness at one time would be serious in
convenience, Mrs. Alexander consented to
accept negotiable notes properly secured
for the full amount. Isaac Hoffman prof
fered her $1,000 in cash on account so as to
leave the amount of the notes an even
$40 600, but this was declined, Mrs. Alex
ander expressing her preference to having
the money invested rather than to have
1t lie idle in bank.
"As TO the statement that the New
YORK account was not included in the as
sets, that is surely q mistake, as there was
a credit showing the profits OF the New
York house to be S24 600, OF which Mrs.
Alexander received her snare"
This appears to absolutely dispose OF
any underhand dealings on the part OF
Isaac Hoffman and the accusation that
any undue advantage had been taken of
the widow of has deceased partner.