Evening star., 1914-11-16
Lewis Johnson & Co. Placed
in Hands of Receivers
by Consent.
CREDITORS CLAIMING
$10,5OO FILE PETITION
No Statement Furnished Court.
John W. Henry and Benjamin W.
Woodruff Compose the Firm.

Creditors of John William Henry and
Benjamin W. Woodruff. trading as
Lewis johnson & Co.. bankers and
brokers'. of 1905 Pennsylvania avenue
northwest. today filed in the District
Supreme Court a petition to have them
adjudged bankrupt. Three creditors
filed the request. declaring their claims
aggregate $1O,500. The bankers con-
sented to be declared bankrupt.
Justice Mccoy on hearing the petition
appointed ]. Miller Kenyon, a lawyer.
and W. Morris hammond, bookkeeper
for the firm. as receivers. He placeo
the bond at $4,000 and later in the
afternoon signed a decree adjudging
the firm bankrupt. and referring the
case to E. s. McCalmont. referee tn
bankruptcy. before whom all further
proceedings will be taken.
No Statement Furnished Court.
No statement of the assets and
the court.
The creditors are George w. Weber,
who has claim of $4,000; Alfred r.
Elmore, $1,000, and Arthur NJ. Travers.
$1,000. They allege that the banking
firm is insolvent and present to the
court a letter signed by Messrs. Henry
and Woodruff, in which they admit
their inability to settle in full with
their creditors and acknowledge will
ingness that the firm and each Of them
individually may be adjudged bank
rupt
Attorney Charles C. Tucker repre-
sented the creditors. The bankers
were represented by Attorneys, A S.
Worthington. T. Percy Myers and
Charles L. Frailey.
History Of Firm.
The firm of Lewis Johnson & Co. was
organized in 1858. and has had a Ions
career in the city. standing high in
financial and security circles.
The original founder of the company
died some years ago, but the old firm
name has been maintained right down
to date.
In the early years of the nrm the
banking business was given almost e1-
elusive attention. but more recently the
security operations have overshadowed
the banking end
high. but with the depression that
came over Wall street, the dropping
OF in trade and the very heavy e1-
pense incident to the conduct of the
business the firm came upon trouble
some times.
When the European war broke out
and the stock exchange closed. with
an absolute loss of all trading, af-
fairs are said to have become moro and
more Strengthened.
Attempts were made to tide over the
financial difficulties. but what might
have been very easy proposition In
normal times was impossible IN times
like these and 1t was not until every
effort had been made that the drm con-
sidered the end at hand.
Banks Will Lose Nothing.
It is understood that the banks of
the city will lose nothing; that ap-
proximately 100000 of obligations to
them are fully secured: indeed, that a
margin Of Is to 20 per cent in favor of
Lewis johnson & Co. may be reason
ably calculated, as bankers are not
disposed to enlarge loans at this time.
In the matter of deposits, informa-
tion is to the effect that about $50, 900
deposits are credited to different people
on the books, with but comparatively
small number Of people owning the
cash.
The firm was not a member OF the
clearing house association, nor did any
national bank clear for 1t. Its checks
were payable over the counter. and
the first symptoms of the end came this
morning, when checks were not hon
ored over the counter.
Charles 7. Williams retired from the
firm some two years ago; William A
Marnes retired early in the present
year. The individual members are ].
William Henry and BENJAMIN Wood
ruff, who are well known men of WASH
ington and have host of friends.