The New York herald., 1878-01-13

some minor creditors Of the hrm took out attach
against tho stock. on the ground OF ar. hese,
be executed owing 10 the fact that the assignee
title had been perfected and DC haa o,.,na oonse
creditors The heavier creditors OF the bank
rupt house did not apply for any executions.
Nr. Hegeman's credssors are NANNY ~ us 1"n a,
family circle II would appear that the CRASH hau
been expected tor some time, but desplte tho as
couraeing aspect OF hs Affairs ar hegemans rela.
tives stood by him through ALL ana aitnough urgently
pressed by their counsel TO protect themselves they
one and all refused obtain or receive any prefer
encc ana expressed themselves as perfectly con-
tented TO take their chances with the general cred
itors
Mr. Fuller the assignee, was found by the writer
last evening at his residence IN East rhrty-nith
street. and when questioned went minutely into the
details OF the failure. 'Ihe failure OF Hegeman "
Co % he said, ''was prccptated by the combined
failures OF John y. Henry Curran Go. ana Dunnng.
tue uoic broker. Mr. Hegeman has Ueen tonined 10
his house at Mountain Station, ~ j., tor the past Two
or three weeks with severe attack OF nlainmaiory
rheumatism HIS enforced absence from business
made Il impossible ior the persons lelt 10
charge oil his store 10 take up me notes
which had beeu placed with Curran and puln.ps.
and 1t consequently became a matter oil imperative
necessity for Mr. Hescman to make an assignment
From the oil the stock, u "i DO some TWO or
three weeks before can make out statement oil tee
assets aud aDitics tor the Ia the opinion
OF Mr. Bakex who Is now IN charge OF the store tug
The store belongs TO the estate OF the late John v
Jones, the president OF the Chemical Bank, ana IL
can DO rented low figure ana with inc consent oil
Mr.. Jones' executors, shan probably reopen II Win
view to d.sposn. oil the stock
A BAD OUTLOOK.
sIt rs impossible for TO state now WIN any degree
OF accuracy the amount Of the assets and Liabilities.
The latter however very large, although In these
days Of failures oil nillonn mares, us everything goes
by relation and comparison, they might be considered
small 1 shall also be delay ed very materially IN
MAKING my statement by Sir. Hegemans enforced
Absence"
OF HEGEMAy 1 co.
The firm OF Hegeman < co. was one oil tho Oldest cs-
tabisned drug houses IN the country having been III
existence Tor nearly hall a century Mr William H.
Hegeman It's founder, was man OF large means, u
promideu citizen and member OF the Century, Union
League aud other clubs. About Two years ago. While
spcuding evening IN the pariors oil the Century
Cub, stricken with paralysis aud died Ia the
Everett House, wnther he had been borne. HIS son, j.
Nevn Hegeman contin led the business under The hrm
name OF Hcgeman ~ Co.. although he had no partner.
AZ one Mr. Hegeman owned SIX large retail drug
stores the city, which were very profitable up to
the panic OF lSl3 During the past year or TWO,
though, his hus been oDged TO give up all except
the one NO. 203 Broadway. In TINS establishment
he conducted Wholesale and retail business. lie Is
said have entered into any spccuiatons or
OUTSIDE enterprises, put to have connncd himself
strictly TO hls legitimate business. IL was stated,
however, that, IN common with many other business
men, had suffered from the general depression III
business and sDrinkage Of values tor some time PRIOR
10 his SUSPENSION.