Salt Lake Herald-Republican | 1890-11-12 | Page 1 | John T. Walker & Son Assign

John T Walker Son Assign NEW YORK Nov 11Tho assignment is reported of John T Walker Son dealers deal-ers in silks etc They are rated by R G Dun Sn Co at over three hundred dollars The firm was composed of John T Walker John W Coombs and Joseph Walker William T Ryle was made assignee The I cause of failure of Walker Son was the i inability of Nightingale Brothers Knight of Paterson N J silk merchants to liqui date their liability to the firm According to Assignee Ryle the Paterson firm owes frm the estate of John T Walker Son 410 OCO of which 100000 is overdue The active capital of Walker Son for the past two years has been 300000 so they were unable to withstand the loss The firm has been carrying a heavy load for the past four years and whenever the Paterson firm was unable to meet its obligations it was taken care of Owing to the tight money market and the suspicion concern ing silk paper caused by several recent failures the firm was unable to get the usual accommodations and accommodatons suspended pay ment Liabilities 1100000 nominal as sets 1300000 composed of 500000 in mer chandise 600000 worth of accounts and bills receivable of which over 400000 is i due from Nightingale Brothers Knight