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Lewis Johnson & Co. Placed in Hands of Receivers by Consent. CREDITORS CLAIMING $10,500 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 1505 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 $10,500. The bankers consented to be declared bankrupt. Justice McCoy on hearing the petition appointed J. Miller Kenyon, a lawyer, and W. Morris Lammond, a bookkeeper for the firm, as receivers. He placed the bond at $50,000 and later in the afternoon signed a decree adjudging the firm bankrupt, and referring the case to E. S. McCalmont, referee in bankruptcy, before whom all further proceedings will be taken. No Statement Furnished Court. No statement of the assets and liabilities of the firm was furnished the court. The creditors are George W. Weber, who has a claim of $4,500; Alfred R. Elmore, $5,000, and Arthur M. 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 a willingness that the firm and each of them individually may be adjudged bankrupt. Attorney Charles C. Tucker represented 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 long 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 firm the banking business was given almost exclusive attention, but more recently the security operations have overshadowed the banking end. Up to recently the firm has rated very high. but with the depression that came over Wall street, the dropping off in trade and the very heavy expense incident to the conduct of the business the firm came upon troublesome times. When the European war broke out and the stock exchange closed, with an absolute loss of all trading, affairs are said to have become more and more straightened. Attempts were made to tide over the financial difficulties, but what might have been a very easy proposition in normal times was impossible in times like these and it was not until every effort had been made that the firm considered the end at hand. Banks Will Lose Nothing. It is understood that the banks of the city will lose nothing; that approximately $200,000 of obligations to them are fully secured; indeed, that a margin of 15 to 20 per cent in favor of Lewis Johnson & Co. may be reasonably calculated, as bankers are not disposed to enlarge loans at this time. In the matter of deposits, information is to the effect that about $80,000 deposits are credited to different people on the books, with but a 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 it. Its checks were payable over the counter, and the first symptoms of the end came this morning, when checks were not honored over the counter. Charles T. Williams retired from the firm some two years ago; William A. Marnes retired early in the present year. The individual members are J. William Henry and Benjamin Woodruff, who are well known men of Washington and have a host of friends.
