New-York tribune., 1899-06-21
NAV. POST SEEKS BANKRUPTCY.
FILES PETITION ALSO FOR TWO BANK
ING CONCERNS
TOTAL LIABILITIES ss.4e4575 AND THE ASSETS
NEARLY A MILLION LEss-BuhDh VI
IIoUIDATING TOO HEAVY.

NEARLY A MILLION LEss-BCRDEN of
L1oUIpATING TOO HEAVY.
Henry A. V. Post surviving partner OF fost
g. Pomeroy and Post Martin q co. bankers Vi
No 45 Wall-st, filed a petition In pahhiuP'
Yesterday both individually and as surviNhne
mariner Of the two firms. Archer N ND" VII
died on December "a 1894, and CharIes N'
pomeroy died on February y. 1870 anu -"'
Post has since been liquidating the aiians "
the firms The total liabilities are
Of which the liabilities of Post, Martil ~ 90 40
oro s1 527 O46 OF Post & Pomeroy Sl'9l3'o-''
and Of Mr.. Post individually Sl4ooo me 'o'a'
ossots are s26O4 43O of which Post. Martin q
70 have 81 80 Post & Pomeroy NZ''"o'foo''
and Mr.. Post individually $1.2'2
Post Martin g. Co.'S liabilities are classneu aS
follows: Secured ST. 220 10; unsecured, So'' loo'
notes of others indorsed by them. sZ'o'o'-'
The assets consist Of half interest III proPeIS
in the Twenty fourth Ward, valued al Fo'"'o'
mortgaged to the Farmers Loan ana iruS'
Company as security for certain credi'oIS'
Among the secured creditors of Post. martin q
20 are the Western National Bank, S9o4oo;
the National Bank of Commerce, Sloi,ooV' INC
Farmers Loan and Trust Company S2o'lSo;
,he Rank of America. $4,000 tie Central Trust
Company. $4,000; the Westinghouse AIT
and acceptances Of Henry OHara, s43Z'l4o'
Tho unsecured creditors are the Ohio Central
Car Trust. collections. $62. .467 and ]. c. OCon-
nor S32SS. On notes which should be paid py
the makers the creditors mentioned are the
National Bank OF Commerce, S1S3,SOO, collaterai
note of the Railroad Equipment Company IN
dorsed by Post Martin e. Co.. the BANK Oh
America $4,000 note of the same company
Russell Sage. $4,000 note Of the same COM
pany; Nassau Trust Company OF BROOKLYN
s36 772 collateral note of Post & Pomeroy' IN
dorsed by Post Martin & Co.
Post G. Pomeroys liabilities are classified as
follows: Secured. $733,6G5 unsecured, S6460oo'
notes Of others indorsed by them. 5000 Inc
assets consist Of cash, $3.50. and notes, 800
debts due 81 S90417; unliquidated claims Hlol'-
232 and Railroad Equipment Company STOCK,
S354 SO6 The debts due are from the halIIodu
Equipment Company. S1,5l63O3, and W. ~ NC
Cracken & Co. S314414 Among the secured
creditors Of Post & Pomeroy are the FIRST Ma
tional Bank. $149692; the Third National BANK
$1,000; the Chemical National Bank, SlooooZ;
the National Park Bank $500; the Nauonai
Broadway Bank 81, 800 the State Trust Com
many S1OO OO0 the United States Trust com
many S37. .75O; Muller. Schall & Co.. $50 623'
the Farmers National Bank, of Mount HOLY
y j. $4,000; the Western National Bank,
$4,000. The principal unsecured Ceultoi %
Henry A. V. Post, S642. coo, balance Oh account
due him. The notes Of others, S133Z1 are
those of the Railroad Equipment Company ana
car trust notes indorsed by Post P0mer0y' .
Mr. Posts individual liabilities are Alf,VD, OF
which $4,000 is secured and Sl,VoO is unse-
cured His assets consist of cash 10 his credit
$500: notes and stocks. $3.50 total, Sl.2i2. Brad
streets reports say that the business was start
cd in 1860 under the name Perkins Livingston
& Post In July. 1879. the style was changed
to Clark Post Martin & Co.. and again In lSSl
to Post Martin & Co. The last named nrTn
continued till June %. 1894. when Post q Pom
erov succeeded it, Post. Martin & CO. were ac-
tive in organizing car trust and equipment COM
panies also water supply companies. They used
their credit freely. In 1893 they made large
amount OF paper to assist car construction
company which agreed TO provide FOR the re-
newal and extension Of the paper at maturity,
but did not do so. The paper was protested
but subsequently was partly paid off. The rest
was carried by banks that held collateral.
After the death Of Mr.. Martin the firm Of Post
& Pomeroy continued the liquidation Of the busi-
ness Of Post Martin & Co. and in April. 1896,
Mr. Pomeroy said that they were gradually get
ting out of debt with the aid of friends. who
carried loans which were secured by collateral
that was improving in value. Mr.. Pomeroy died
on February % 1898 Since then Mr. Post has
found the task Of lqudating such a burden
that the only way out of 1t was TO go into
bankruptcy.
In banking circles Mr.. Post has been regarded
as a capable and energetic man. and has been
! Interested in many large enterprises. He has
| been president Of the Chattanooga Southern
! Railroad Company. treasurer of the Railroad
| Equipment Company, director in the Central
! Car Trust Company, the Cumberland Gap and
| Carolina Railroad Company, and other COM
panies.