New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-06
OIL PRODUCERS FAIL.
arTrMAN a WATSON AND THREE CON-
Meeting FIRMS ASSIGN

-ur,R LIABILITIES PLACED AT s4ooooO. AND
THEIR ASSETS. IF WELL HANDLED. MAY
PRODUCE MUCH LARGER sum
GREAT PROPERTIES IN OTHER
STATES INVOLVED
Four assignments were hled in the County Clerks
oesce Yesterday by these firms: Stettheimer &
pettman bankers and brokers' NJ. a. e. d. Bett-
van oil producers and dealers In real estate Bett-
usn 4 Watson, oil producers and manufacturers
aud dealers in oil-we supplies. and Bettman. Wat
son Bernheimer. oil producers all Of Nc IS Broad
way to Emanuel W Bloomingdale without prefer
.rce The last two firms are also OF Petersburg.
" Va.
The firm OF Stettheimer & Bettman consists OF
David Bettman and Mrs Henrietta B. stettheimer.
NJ A. D. Bettman consists Of Marcus A and
David Bettman Bettman Watson consists Of
Marcus A. Bettman. David Bettman and Gilbert
I Watson Bettman. Watson Bernhemor con-
sists of Marcus A. Bettman. David Bet,man and
Gilbert L. Watson Meyer II. Bernheimer died
about three months ago. The assignment OF
Bettman Watson & Bernhemer also includes
their business in Ohio. Pennsylvania and Indiana
The business of the four firms was closely con-
nected The firm of stettheimer Bettman is
the oldest OF the four. having been formed In 1854
Joseph Stettheimer died in March. 1889. and his
widow continued as a partner. They were largely
Interested In oil properties in Pennsylvania ONO,
Indiana and West Virginia In November last they
ode a abatement 20 "Bradstreets' claiming a net
,.oine OF g. 400 900 and liabilities OF $4,000. de-
,oned statement OF their affairs on February i,
1907 showed assets $272+772, and liabilities S24Zo4'
The principal items were real estate In New-f DIX
ard other cities s675 600: oil properties and Oh
lands ON which there are $50 producing wells Tree
ord unencumb ered slS00o; amount invested "a. q.
belmont w Va, with materials on hano ailsodI'
Kills receivable SCI AIS bank stocks and SECURITIES
The Messrs Bettman were interested, Is
sa,5 in several other concerns IN this ana o.ales
st.,as and although in their different inIerestS
~ were considered borrowers TO cohsloeI auae
,snt they had nigh credit in the trade and Were
e6le - obtain what loans they needed up 10
iv The present embarrassment OF the svN -,
1-ns which made assignments YESTERDAY 70
,rihuted 10 difficulty in getting ready S1sn ~
81, ain further discounts. AS the srea'ei p xvere
,hejr means was tied up in oil properly, .eS II is
nnahle 10 realize upon 1t in this enc III tenn
sxpected that the assignments VIII I've 0''
porary. ,.,..- =. tho four firms are
-, 70 Ne about $4,000 The actual assets aae
49, in excess of amount. put a 49, ,o,,
~ will DEPEND 1t is said. upon me way r i
States and are principally in reaI es'a,e ,bis CITY
nronarties The Messrs. Bettman I'VE u !" w ~ The
Pm, Watson lives at Parkershurg w, va e
oaices Of the several firms al NO 10 20
W. he attained there David Bettman Is M p
80 ~ the Consolidated stock ana re"''' 10
oSarre which he Joined in 1879 s,, ,he at
ISranc,s c Reed OF No 2Sl troau"aS, - ~
oni that the assets and the parucntaIs week
eett,,ement would not be availa pie nsiots o'd add
80 so Nj BloominGdale. the assignee "o''" "''
no further information