The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-02-04
RED|TORS
OF DOXEY ARE
NOT SATISFIED
Are Inclined to Make
Difficulties.
OBJECT TO THE AGREEMENT
1T rs PROPOSED BY FOREIGN
CONCERNS.
Local Houses May Force the Famous
T,a% IT,
OBJECT TO THE AGREEMENT
1T rs PROPOSED BY FOREIGN
CONCERNS.
Local Houses May Force the Famous
Stationer Into Bankruptcy.
His Statement Of His
Situation.

At the time of the writing of the story
of the financial troubles of "Doxey," the
bookman, the promoter of the parti-col-
ored Lark" the purple COW and other
odd conceptions, it was supposed that the
difficulties with creditors had been adj
/ justed but further investigation shows
that certain local houses are not disposed
| to accept the proposition that has ema-
mated from Eastern creditors. This pro-
posed agreement provided that all cred
itors must accept 80 cents on the dollar,
one-half of which was to be paid at the
end of six months and the balance in
one year.
Some time ago the Eastern creditors,
who are the most heavily interested be-
came nervous and concluded to settle on
a basis adjusted to suit the needs of the
debtor. They co-operated with Mr.. Doxey
in setting forth the complications of the
situation and asking for assistance in
the promotion of the plan. The state
ment came from the Stationers Board Of
Trade of New York, under date of Janu-
airy IL, and among other things says:
I'VE inclose herewith copy of a statement
and offer made by Mr.. William Doxey,
in which is included such information as
to his affairs as we were able to obtain
by careful questioning, and we feel con-
ndent that the statement fairly repre-
sents his situation. 1t seems to US that
the proposition is fair one. If the estate
is administered through the courts we do
not think that more than II or is per
cent would be realized for creditors, and
this would be after delay of several
months"
This agreement, which some local cred
1tors are not inclined to sign, provides as
follows:
Creditors of William Doxey of San Francisco.
Cal, holding claims amounting to at least
SSS, o00-We, the undersigned. creditors in the
amounts set opposite respective names do
hereby severally agree with him and with each
other. that we and each Of US will accept in
full payment and discharge of the indebted
ness of said Doxey held by US respectively his
two promissory notes, payable August 1,
1899, and February l, 1900. respectively, each
for sum equal TO Is per cent of our respective
claims, stated below, and that upon receipt
of said notes by us the balance of said
indebtedness shall be wholly released and dis
charged
Mr.. Doxey's circular to his creditors is
dated Friday, January 49,, the date on
which the ungodly bohemfans of the
Press Club defed each and every super
sttion and got downstairs safely. The
document is as follows;
To My Creditors-Dear Sirs: Being unable at
the present time to pay my outstanding indebt-
tate in the manner most advantageous to my
creditors, wish to make the following state
ment and offer of settlement:
My liabilities approximately as follows:
Open accounts and notes due merchan-
disc creditors in Chicago and the East, SIS, 600
Open accounts and notes due merchan-
disc creditors in San Francisco. ......... LOCO
Due individuals in San Francisco for Dor
Due Croker Wooworth National Bank 1''
Tor borrowed money!. Is, 900
Total ............................ s46, 200
All of the above is unsecured, except that the
bank holds second mortgage upon my wife's
house for the sum of $500, and that certain
individual creditors from whom 1 borrowed
money hold stereotype plates (of the value of
$4,000 as security. All of this security was
given to. said creditors at the time the money
The nominal value of my assets is as follows
Fixtures about one-half cosD......,..... 81, 900
Stock in trade. 200
Stereotype plates "a part pledged, as
Stock Of own publications $500
Accounts receivable ACKNOWLEDGEMENTS. s. 800
Total ACKNOWLEDGEMENTS. SIS. 100
The fixtures have been put in by me at vari-
Gus times during the last thirteen years. and
their actual value at forced sale would be ex-
ceedingly small.
T}M stock in trade includes books bought at
various. times during the last thirteen years.
the price given being cost price, including
freight The stock Is clean and good.
OF the stereotype plates about $4,000 is old
plates of practically value except as old
metal. The remaining $1,000 is the cost price
of plates of books which have a fair sale at
present,
cost. About 5000 of these are saiable.
Besides the above assets, I have life insur-
ance amounting to $4,000. which has however,
no cash surrender value. There Is also a.
nominal equity in the house owned by my wife
of $780, but the actual value of this is prac-
tically nothing
/ offer my creditors settlement upon the basis
of 80 cents, payable one-half in six months and
the remainder in twelve months, to be repre-
sented by my notes. have consulted my
Western creditors and feel confident they will
accept this settlement should 1t be accepted by
my merchandise creditors in the East. Yours
very truly, WILLIAM DOXEY.
There are certain creditors in San
Francisco who, unless something is done
to radically change their minds will in
sist on Mr.. Doxey going through bank
ruptcy. Their proposition is that they
are not satisfied with their treatment. and
do not see any particular advantage to
themselves in the plan of the Eastern
creditors Whatever the decision may be
as to what is to be done will be arrived at
within the next few days.