The New York herald., 1878-03-30
MERCANTILE MISFORTUNES.
An Auction House Embarrassed
from Bad Debts.
MISS CLAXTON'S CREDITORS
Petitions in Bankruptcy and AS
signments.

The firm OF Kobbe Ball, dry goods auctioneers. at
Nos 81 and so Leonard street, have become financially
embarrassed, and unless means are obtained TO
tide their present difficulties they will probably
60 into liquidation or mako an assignment. The hrm
stood very high and estimated TO be worth up
ward Of $780, 000 They succeeded the firm Of William
A. Kobbe Il Co. in Nay, 1872, and had capital IN.
vosted IN tho business amounting to about $4,000
The liabilities reported al about $780, 000 and
said that the assets sufficient to cover all tho In
debtedness Mr. Kobbs said yesterday that It was not
quite decided what course would be pursued by the
frm-whether TO 20 into liquiaation or mako an as
signment The clerks were busiiy engaged In making
up the books IN order ascertain the condition
OF affairs; II 1t found that there not
sufficient available assets 10 Quidate the Indebtedness
in iul the firm would Ut once make an assign.
ment Tor the general benefit OF all the creditors
and tho business would still be continued. He could
not give dednitcly tue amount vi the liabilities but
he thought they the Of $500, ,0O0
OF hicn $25, 900 are secured. He attributed their
troubles manly to numerous bad debts which had
been contracted. some ol which had turned out even
than anticpated; they had lost on advance ac
counts for consignments aud also SO 900 on Union
Car Spriug stock, which was part oI The original
capitai 0t 100000 They expect " 6e able 10 pay
in full ultimately II they can reaiize the value of Their
property.
ssI OF accounts receivable and 10000 acres oi
coal lands In Tennessee, ON The
Will be probably sold 10 an English company, nesot,a-
tons now begg IN progress ior tnat purpose. since
the firm 0rganlzsd tDey have Transacted q busi-
ness o about 50 UOO OOO The net prOs on which were
Sl15 O00 cnargiug the doubtful accounts ana
personal expenses against IL there appears TO be an in-
parment oil capital amounting 10 upward Of $1,000
KATE CLAXToNS BANKRUPTCY
meeting OF the creditors OF Kate Claxton. the
actress was held yesterday, ut the Office OF Register
Fncn, Tor the purpose Of proving claims. The lady
herself not present, but wus represented by Mr
John f. Ward. Messrs G. u. Rust ana Thorndyke
Saunders appeared for the creditors As The bank
rupt had married fiIg her petition, tho Regis
ter that the proceedings would have to be
amended by tho substitution OF her present name
Stevenson-in place OF her former name. When Inc
schedules presented objection was maze TO many
OF tho claims. Mr. Ward submitted notice to the
Register that the bankrupt objects to certain claims
being proved, or to any person SO presenting such
claims voting the assignee for the that the
claims do not specify specific charge her separate
estate tor The benefit OF her separate estate
nor did the arise, were the same created Ia
the course oi her business; mat the BANKRUPT was
married woman ~ Inc time OF the alleged CONTRACT
thereof aud said claim was ior the exclusive benefit
oi her husband Mr. Rust. representing George s.
Utossy and Il. Randolph Robinson, objected 10 the
proofs ot debt by Spencer H. Cone, tho IanKrupps
brother; by Margaret NJ. Palmer. Eliza Martinez aud
Jonn A. BAlestier, and asked that they be dsaowed
and expunged. The objection TO the rst was on the
ground that at the zine OF ming the petition
by the bankrupt she not indebted 10 Mr.
Coue in 5000 or any amount; thai The claim
wholly ncliiiUus aud was conc0cled with the bank
rupt view Of commencing proceedings IN nanR-
ruptcy and was made with intent TO delay,
hInder and deiraud tue creditors. The objection
TO the claims OF The Two iadles just mcntoned
were on tho ground that they given bv the
Dankrupl's husband lor money borrowed by him, and
the bankrupt could not Dind a separ1te estate and
tuat tho pretended guarantee was not IN wriing As
to me CLAIM OF Mr. Baicsler1 amounting TO $500,
Mr. Rust opposed IL ON tho ground that II did not
amount 10 over 5000 Mr. Saunders protested against
NJ umper claims and Ked Tor re-cxam natlon.
rhreo claims were proved as Ioiiows:-E. Randolph
Robinson So, ,43o II; George s. DlOssy, $9,067 -;
Daniel Uoouy, Sl,73l 80. Il was finally decided 10
70 INTO tho election Tor assignee, and Mr. Frederick
LOWS OF No. 372 Broadway, was chosen. Register
Fcu suggested to tue counsel that they sgree upon
a day lor the EXAMINATION OF the bankrupt AID for
the settlement OF legal questions CONCERNING Tho
objected Claims, but no lime was liked on account Of
The professional eng agenents o. the actress