The times., 1898-11-03
CHARLES baum Assigns
The Liabilities Fully Covered
by the Assets.
BUSINESS MEN SURPRISED
The House WINS Regarded as One of
the Commercial Landmarks of
Washington - Proprietor Refuses
to Make IA Stntement-Meyer Cohen
and Harry strnsburGer Named ns
Assisnees.

An assignment for the benefit Of credit
ors was put on record in the recorders
office. in the City Hail, yesterday after
noon. by Charles Baum. proprietor Of the
dry goods and furnishings establishment
at No. 416 Seventh Street northwest. which
was one of the Oldest mercantile houses
In the city. A succession of business mis-
fortunes and the pressure of liabilities,
which the house was unable to meet, is
given as the precipitating cause OF ;he
assignment
The store was closed to business yestar-
day afternoon and Meyer Cohen and
Henry Strasburger, who were named as
Rssignees. Immediately began an insento-
ry of the stock. So far as known. no
definite plans have been made for the
future of the house. In all probability.
as soon as the inventory of the stock,
which is very large, is taken, an as
Eignees' sale will be inaugurated, or, If
possible the entire stock will be sold IN
bulk.
The news of the assignment was a
great surprise to the business men of the
city. The house was thought to be one
of the strongest in Washington, its age
and conservative management having
made 1t one of the business landmarks of
the town.
The utmost confidence is reported in its
proprietor, and there is little appreEen-
sion among those who are listed as its
creditors. The statement of the assets
and liabilities. which was embodied in the
record of the assignment, is regarded as
a further justification of the confidence.
The assets amount to s2l7,l00. including
the stock carried in the Seventh Street
store, shares of stock in a number of
corporations and Mr.. Baum's personal
interest in equities in local real estate
OF the liabilities, which amount in total
to sl6l, ,6lS.75, $4,000 is represented by
notes secured by deeds of trust on real
estate.
In the papers which were filed yester-
day the following Washington firms and
persons are named as creditors:
r. p Andrews. $3.50; Minna Bats,
$500; DR.. a. Behrend, S,25O; David G
Baum, $1.055; Meyer Cohen, $780, IA
Kuntz, s47S.33; Mrs. L. McCafferty, s2l5O;
The Washington Post, S200; Clara and
Florence Price, $1,000: Schret Brothers,
s44; The Evening Star Newspaper Com
pany, notes. s695.70: The Evening Star
Newspaper Company, open account, sl5c;
The Times Company S51SS; The WASH
ington News Company, S7.72; Wolf &
Cohen, $500; note drawn by D. C Baum,
for the accommodation of c. H. Baum,
$500; note drawn by Morris Price. for the
accommodation of c. II. Baum, $500;
note drawn by Morris Price, for the ac-
commodation of c. II. Baum, S2,20.
The largest creditors named in the pa
pers of assignment from other cities are
as follows:
Helzmeister & Co., New York, s772-95;
Hodges Brothers, Baltimore, sl,6i5.ll;
James G. Gibson, New York. sl,2S2 lS;
Lee, Tweedy & Co, New York, sI62; j.
B. Lippencott & Co., Philadelphia, s4iS-9i;
Lowelfells & Heilbroner, New York,
s5s750; Schwab & Frankhaver, New
York, $52l; Mills & Gibbs New York,
s67S.71: Scheffer, Schram & Vogel, New
York, S1,55S. SO; Sullivan, Drew & Co, New
York, s2,OSoO1; Schilling Corset Company,
Detroit, 1853; Edward Scheitlin & Co.
New York, Sl6S7: Siegel Brothers. New
York, S43Il9; Weinbergh Cloak Company,
Baltimore. ss01.25; Morris w. Benjamin,
New York, 500, and Eugene S. Benjamin
New York, s70o
Charles Baum, the proprietor of the es-
tablishment, has been i'll at his home, No.
1850 Massachusetts, avenue, for several
days He declined to make any state
ment in reference to the assignment last
night beyond the fact that he had left
everything in the hands of the assignees.
He could not say what would be the
future of the house.
Mr. Cohen said yesterday afternoon
that nothing had yet been decided in ref
erence TO the future. He and Mr.. Stras-
burger were busy taking the inventory of
the stock, which will probably occupy
several days. and when that is concluded
definite decision will be reached. In the
meantime all who have purchased goods
from the store and desire to have the
good changed. will be accommodated
The store is closed. however, to the
public and nothing will be on sale until
after the inventory of stock Is taken.
Yesterday afternoon the doors were
closed while the clerks were taking stock,
and a continuous string of people were
turned away.
None of Mr.. Baum's business associates
on Seventh street would discuss the as
signment last night 1t was a surprise
to the ma ajority of them.