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

The New York Times, January 1, 1898

Mark Twain Paying His Firm's Debts.

Samuel L. Clemens ("Mark Twain"), says The Publishers' Weekly, has just made a payment of 25 percent to the creditors of C. L. Webster & Co., which failed in 1894, and in which Mr. Clemens was heavily interested. The assignee, Bainbridge Colby, of 120 Broadway, managed to realize 28 percent of the liabilities out of the assets of the firm and of the personal estate of Mr. Clemens, which was turned over to him at once. With one or two exceptions, the creditors offered to settle with 50 cents on the dollar, and this sum Mr. Clemens paid last year. He, however, stated that he should take no advantage of any bankruptcy law, but would, if given time, pay dollar for dollar of the indebtedness. He has kept his word, and has now made a payment that wipes out 75 percent of his liabilities. Mr. Clemens hopes inside of four years to make his final payment. It is to be hoped Mr. Clemens may be granted the satisfaction of seeing his great undertaking accomplished. He is sixty-four years old.

Return to The New York Times index

Quotations | Newspaper Articles | Special Features | Links | Search