Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-09-18
RECEIVER APPOINTED
@. @. BRYAN COMPANY ADMITS
INSOLVENCY.
Explanatory Statement Made by Head
Of the Firm-Consents to
Proceedings

A petition In voluntary bankruptcy was
today flied against the C. c. Bryan Com
pany. corporation conducting grocery
business on New York avenue between 18th
and 18th streets, by Pabst Brewing Com
pany. james F. Oyster, w. NJ. Gait & Co.
Semmes-Kelly Co. and Browning & Baines,
through Attorneys Brandenburg & Bran
denburg.
The petition was filed, II is said, because
certain out-of-town creditors had entered
suit against tho company, and to prevent
preference being secured by them by
means of judgments and executions, 1t
was decided to throw the affairs of the
company into the Bankruptcy Court. The
company. in a communication to the petit
tion.ng creditors admitted It's insolvency
and its inability to pay It's debts and ex-
pressed willingness to be adjudged IL
bankrupt on that account.
Chief Justice Clabaugh today appointed
+. Walter Brandenburg as receiver of tho
company and directed that he continue the
business, as 1T was represented to the court
that by this means the interest of the cred
itors would be best conserved.
Mr.. Bryan's Statement.
Mr.. Charles c. Bryan. president of the C.
c. Bryan Company. Inc. when asked for an
explanation of the proceedings In bank
ruptcy Instituted against his company. sadi:
THE trade during the past summer has
been very dull, and owing to the fact that
the major part of the firms customers are
away from Washington from June to Octo-
Der collections are necessarily slow. The re-
suit Is that about two weeks since a New
York firm with whom we have been dealing
for about twenty-five years and have spent
over $4,000 declined to grant short extern
sion on small account of few hundred
dollars, but instituted suit upon 1t. The re-
suit has been general demand on the part
~ In of lob,
has made 1t all but impossible to continue
under existing conditions. AS several other
smaller suits have since been instituted
against the firm. and if they are permitted
to proceed will result in their obtaining the
full amount of their claims through execu-
ton, and thereby obtaining a preference
over our Washington creditors and others
who have not sued, ii has been thought best
to consent to the institution of bankruptcy
proceedings in order that all creditors may
share alike. | have been engaged in bust
ness in Washington about a quarter OF a
century. individual and since the in
corporation of the business, and during that
period l have the consolation of knowing
that | have never before been sued upon a
commercial account.
Reference to Former Suits.
CAS- Ia commonly known, about five years
ago some thirty or forty suits were filed
against me on certain notes aggregating
considerably more than $l00,0CO Substan-
TALLY all Of these notes We're forged or al
tered. Those bearing my name which were
not forged were raised to large amounts,
and otherwise altered as TO date and place
where payable. While l have prevailed In
ell of these suits which have been tried
except upon several notes which We're given
in renewal of altered notes. which did not
know at the time. still the tendency of
these suits absolutely ruined my credit, and
IL has been impossible to obtain any dis
count at bank. Had it not been for this.
which has followed me since the incorpora-
ton of my business. there would have been
no difficulty In raising at the bank more
than sufficient TO carry US over this tenn
porary embarrassment" $3.50