Evening star., 1898-07-22
Corson & Mccartney Of This City
Forced to Wall.
some OF TEE PRINCIPAL CREDITORS
Liabilities, $2ol,l43.43, and Assets
Valued at $36,oo5.
CAUSE OF THE FAILURE

| ing of the assignment of the firm of Cor
| son & Mccartney, bankers and stock
brokers, 1419 F street northwest 1t nat
| nially created the greatest surprise in local
| financial circles, where there was no ink
ling that this well-known house was in any
| ssrt of financial difficulty. Mr.. ~Chas. NJ,
| Re binson, an employe in the office Was
| chosen by Mr.. Mccartney as assignee. The
attorney is Samuel Maddox.
The greatest sympathy was expressed by
every one on hearing the news, for Mr.
Mccartney, who is the sole member of the
firm, is extremely popular and is held in
high esteem. This sympathy was the more
fully felt when the probable cause leading
| to the assignment was made known, name
ly, Mr.. Macartney's continued ili-health.
For some time he has been a very sick
man, but he has continued in the active
management of his business, which is said
to be one of the largest Of the kind in the
City.
1t has been seen for several months past
by his intimate fricn IS that i'll his state
much work. However. he refused TO act
on any suggestions which involved his TAX
ing a vacanor. and rhe result was that he
continued his attention 10 business when
he should have been i'll the sick room.
Condition sf the Business.
While it is impossible to learn the exact
condition of his affairs, yet 1t is believed
by those who are in a position TO know
that If Mr.. Mccartney had been able fully
to attend to business. the present crisis
would not have occurred. 1t is thought
some demand from unexpected quarter
or at an unexpected time came, and Mr..
Mccartney, in his enfeebled condition. was
not able to meet 1t. and hence he was
forced to make an assignment. 1t is the
he1ief IA If he had heen In his normal
state of health 1t would have been
unnecessary to have taken the step he did.
He is now confined to his home. and IS
unable, of course, to see people or to at
tend to business.
AS is well known, Mr.. Mccartney for the
past seven years has been the only member
of the firm. he not having associated with
him in business any one after the death OF
the late John Corson, his partner.
For the past fourteen years the firm has
done banking and stock brokerage busi-
ness in this city. AS stated above, in the
latter department a business was done, it
Is generally believed. that was not exceed
ed by any house in the city. OF late years
the business was almost exclusively con-
fined to dealing in stocks for customers.
there being but few who kept accounts with
the house.
Change in Connections.
Last winter Mr.. Mccartney had occasion
to make a change in his New York conuec-
tions, but that was effected, is is said,
without injury to the house; in fact rather
the contrary, it is said, for the books show
ed the first month after the change was
made the largest volume of business of any
month during the entire fourteen years
that the firm had been in existence.
Deed of Assignment.
According to the papers filed in the office
of the recarder of deeds this afternoon
Charles NJ. Robinson is made assignee
The liabilities are placed at S261 ,143 43 while
the assets are given S36095.4i.
The deed of assignment is made in the
name of John W. Mccartney, trading un-
der the firm name of CorSon & Mccartney
1T states that he is indebted to divers per
sons in divers sums of money, which, by
reason OF sundry losses and misfortunss s
he is unable to pay.
The principal creditors In this city are:
J. ID. Arnold. s2l. 775; Woodbury. Blair
500: S NJ Bryan, president Of the Ches-
apeake and Potomac Telephone COMPANY
500 o99; H. s. Cummings. $500; NJ Cum
ming, $1,000; Laura +. MAcartuey. $40, 900;
Y. G. Staples, 1.120; Mary Van Kranken.
$50; James Wilkinson. s22.472; ]. NJ
Wilson, S1,51S: w. b. Hibb5 & Co. s.. .O6s:
f c. White, 5000; Leroy Tuttle 81 300
OF the out-of-town creditors the largest
are: B. F. Abbott. GAINESVILLE. Ohio, s4.6o5;
Clarence NJ. Busch. Harrisburg, Pa, s23-
I,s77: J. B. Henderson, Rockville, Nd,
81 16s: L. C. Kingsley. Brooklyn, Conn,
Sl.706.
Other creditors in this city include: Ferd
II. de Janon. $1,6S9; Fred d. McKenney
S.11s; H. N. Moss. 1912; C. r. Mutt,
Frederick. Md. $3.50: N. B. Eustis. New
York. $4,343.
Among -the assets are mentioned: Cash
on hand, $500: two seats in Washington
stock exchange, $1,000: accounts collect
able. $12.SO7; bills and notes s5.O25; mar
gin on loans. $4,000; a seat in the New
York stock exchange, the value of which is
lot known.
Revenue stamps to the amount of S125 2J
were required on the deed of assignment
which Is the largest filed in many years.