New-York tribune., 1903-07-27
TAYLORS TO RESUME.
assignee Says Soon - Liabilities
Not 4nyzchere Near 50, 900 900"
Mr.. sAGE's LOAN ABOUT 81 100000

An examination of the books of the Stock Ex-
change firm of Talbot ]. Taylor &, Co.. which
failed on Friday last, was made yesterday at
the firms Office No. so Broad-st. Philip J.
Britt. the assignee, present. Just exactly
what that examination revealed will probably
not be known for several days. In a short talk
with Tribune reporter last night Mr.. Britt ex-
pressed the belief that the firm would resume
business soon. The firms liabilities, he added,
were not anywhere near 100000, a sum men,
toned Saturday. This assertion, however,
qualified by Mr.. Britt saying that this
opinion was based on the findings of the exami-
nation OF the books yesterday. So numerous
are the accounts to be examined that it would
be several days. he thought. before he could
issue full statement to the financial stand
ing of the firm.
It was reported early in the day that James R.
Keene was at the Office of the firm for several
hours. and that Talbot ] Taylor. his son-in-
law also spent the greater part of the day there
There basis for such report, it was
declared later. Mr.. Britt said he had had no
conference with Mr.. Keene or any member of
the firm in the course Of the day. He and the
bookkeepers were the only persons present while
the books were being examined.
Mr. Britt went on Saturday to the Oriental
Hotel. Manhattan Beach, to spend Sunday. He
left the hotel at early hour to visit the Office
of Talbot J. Taylor &, Co. About o'clock last
night he returned to the hotel, and then gave
an interview to a Tribune reporter
The condition Of affairs of the frm," said Mr.
Britt, lis very much clearer and better to-day
I have Just come from the Office of the firm,
where an examination of the books was con-
Quoted to-day. OF course, cannot yet say how
great a loss the firm has suffered, but the
suits Of the examination of the books up to the
present time make incline to the opinion
that the firm will be able TO resume business in
the near future"
Us the report that the liabilities of the firm
will reach 100000 true?" was asked.
Mr. Britt smiled and laughingly exclaimed: Il
think the liabilities viii not be anywhere near
that figure"
How great do you then think will be the
total sum Of the Iosses?" inquired the reporter
7 do not care 10 hazard an opinion" was the
answer
II is said that the bank loans are $6OO0OOO
the sum due Russell Sage about S1,250OO0, and
that due james r. Keene S1,5o000O Are these
figures approximately correct?'
The sum due Mr.. Sage should be considered
2 part Of the item which you call bank loans
said NJ Britt He thereupon reiterated that
the reports about the probable total liabilities Of
7ne firm we're too high.
Are there any sterling loans Included in the
liabilities"
y 90 not thinE there are any. So far the
hooks do not show that such q loan OBJ
tanned"
Mr. Britt intinated that the sum due MI
Sage might be somewhat less than $1,oo00o0
He decjined 70 talk further on the subject until
he had a better knowledge Of the firms affairs
James p Keene would not talk yesterday
about the failure Of Talbot J. Taylor q Co Tor
nnbJication He spent the evening IN his room
with a number of friends. He was asked If he
had anything to say, and he sent a written mes
sAxA fsoEa his room to the inquirer that he