The Portland daily press., 1899-11-13
Statement Issued by rradley and
YerriIl, The AsSignees,
It Shows Liabilities of
Nearly 100000.
S2l4,OOO of Deposits Secured by
Assets of Little Worth.

Late Saturday afternoon the report OF
Messrs william Ill Bradley and Harry
M. VsrTill, the essignees Of the barking
firm of Woodbury. II Mouiton. was msiien
to the creditors of the insolvent firm.
The report is printed In pamphlet form
and makes seven pages bllod with tsou-
lated statements of the liabilities and the
assets. The report shows that the esh-
mates Of the debts Of the concern nave
been none too large. 1t reveals TO sll
liabilities Of ssS7, 900. OF this $685., 600 Il
secured by collateral Of q face value oil
SITS, 600 but Of this collateral the as
signees say that ait can not be esti natsd
at the outside at over Sooo,0oO.' In
other words, taking the estimate which
the as.ignses say Is the most favorable
which can be made, the collateral fails
short SIS, 900 Of equslling the amount OF
the loans made upon IL and the language
of the report inuicatss that the assignees
regard 1t probable that the loss to the
lenders will exceed this figure.
Coming to the unsecured liabilities
the report shows that the principal item
in the total of SaS7,0 Is the deposits
which figure up s3l4,oo0 there being In
addition S15. 900 In accounts payable ana
s., 900 in outstanding checks. The
amount of the deposits is under rather
than over what had been generally sup
posed, the estimate most frequently heard
being about $3.50. 0t0. In addition TO these
unsecured liabilities there are ccntin-
gent liabilities in the shape OF accommo-
1stion endorsements amounting TO
SIS. 600 more. When the assigueas. came
to examine the assets to Offset these unse-
cured liabilities, they found that the firm
had IN safety deposit vaults securities of
large face value and little market worth.
The list which the report gives OF these
q sourities includes q great amount OF
bonds and stocks In corporations In all
parts Of the country, largely water COM
panies. The total fnoe value Is $424,-
374 rs The assigness find that the mar
ket value of these securities cannot be
safely estimated at over $4,000 or about
four and two-tenths cents on a dollar. In
addition there are bills receivable Of
face value of $1,000 and ledger accounts
and overdrafts of 70.OOO, but here tbs
face value Is many times in excess OF
the actual, for ths assignees say that the
items cannot safely he reckoned at over
o, 600. To the assets the assignees add
property turned over by the partners to
an estima ted IL arket value of $40. 600,
Office property worth $3.50. real estate In
Kansas City OF a value of not exceeding
Sl4, coo ami the excess In the collateral
pledged for certain loans, this last
amounting to $40, 900. All told the I'M
pledged assets have face value Of $780,
ia 7S, not including the property turned
in by the partners which would add
,Sln, COO. On this total face value CT over
$500, coo the assignees place an estimate
of SIS, eco as the markst value. From
this must be deducted the expenses of
winding up the affairs of the firm. The
assignses say that the figures given are
in all cases approximate but they believe
them sufficiently aocurats to give fair
idea of the condition of the firms affairs.
The report is as follows:
Portland. Me-, Noyem Der IL, 1890.
The Asst gnees of Theodore q. Wood
bury and Edward Ii. York. composing
the firm of Woodbury. s. Moulton of this
city. submit to It's creditors the append
ed statement of the firms financial CON-
dition. The figures given are In all cases
approximate but sufficiently accurate to
give q clear view of the situation.
SECURED LIABILITIES,
Demand and time loans, S5s6, 600. 90
Secured by the following coll
lateral:
Face.
American Writing Paper Co.,
LIST IS, so, 900 90
smaisins Co. stock, 5000 90
American Car and Foundry Co.
preferred stock, 70. OO0.W
AmericanCar and Foundry Co.
common stock, 25,OOo.C0
Leather Co. 6's. 5000. 90
Is. e's, COCO. co
IA many $1,000. 90
Auburn Trust Co stock, 500. 90
Bangor and Aroostook LIST IS, l,oO0. W
Power Co lst Us. I.Ooo 90
Power Co. consolidated 6's, $1,000. no
Buffalo City Gas Co. LIST SIS, l2,0OG 90
sock. 10000. co
Cbillicothe Water Co. LIST SIS, 1900 co
City Water Co. of Warrington,
Indiana, SIS, 500. 90
IT ' s.. "''' w. VI i'"" 100000
Crystal Water Co. of Edgewatsr
consolidated 6's, 81, 600. 90
City If Fort Wayne IS, 1000 90
Central New York and Western
X X. LIST SIS 80. 600 co
- Bells Spfced