Home | Quotations | Newspaper Articles | Special Features | Links | Search

The New York Times, May 10, 1894

The Liabilities Placed at About $80,000 - "Mark Twain" Sails for Europe

Samuel L. Clemens, (Mark Twain, ) senior partner of the publishing house of Charles L. Webster & Co., sailed for Europe yesterday on the steamship New York. Before his departure Mr. Clemens held an extended conference with Bainbridge Colby, the assignee of the company. Later, Mr. Colby made the following statement:

The liabilities of the firm will not exceed $80,000. The largest claim against the company is one for $25,000. There is no truth whatever in the report that Mrs. U. S. Grant has a large sum of money due here on the Grant "Memoirs." Her claim will not exceed a few hundred dollars. I am convinced there is only one way to realize on the assets of the Webster Company, and that is to sell them in the usual course of business. I still have hopes that some plan may be perfected which will make it possible to sell the stock which is on hand without resorting to such a costly alternative as an assignee's sale.

Mr. Clemens feels keenly the condition in which his affairs are involved, and whatever the result of the plan which he has adopted for the working up of the assets and the continuation of contracts, I do not think that he will consider himself relieved of the moral obligation to repay his creditors.

Mr. Colby said Mr. Clemens sailed for Europe to be absent indefinitely. He has a number of important engagements abroad, but will return at once should there by any need here for his presence.

See the publishing history of Webster and Company.

Return to The New York Times index

Quotations | Newspaper Articles | Special Features | Links | Search