The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-02-03
CREDITORS OF HxaBMAN l. co.

An interesting meeting Of the creditors OF Hcgeman
L. Co., druggists, at No 203 Broadway, held
yesterday ~ the store call Of the ass gnee,
Mr. j. A. Fuller VINO desired 70 get an expression
OF the OF the creaitors regarding the manner
OF disposug of the estate. Mr. Fuller gavo state
ment Of assets and liabilities as iollows-Labil-
tics $is367l II; assets $24, 900 II. consisting Of
stock, hflures book The book accounts
were valued at $4,000 by the buokkeeper, but Mr.
Fuller did not think them worth that; The stock was
estimated at about Sl3 800 and the fixtures about
SO, 500 He thought the stand, good will and STOCK
ought 70 bring great deal more money than The
appraised value If the business was continued, and
he had offers from two parties AZ $4,000, which
said, war in such ilh, ath that he would
probably never attend 10 business again. and he diu
mink would live. He accordingly thought that
good will ought To be sold with The rest vi he
property Mr. Fuer then cd The creditors 10 give
their opuion to dsposng oil the properly SO as 10
realze The most money III Inc quickest Time ana at the
least expense. Questions were asked concerning The
nature OF the liabilities, and MI Fuller SAID The tota
gwen exciuued The notes gwen 10 Duuniu and
those of Henry, Cur Co. Notes tor $34, 600 nad
been Dunuin. 10 BE- sold, ali Mr. neeeman
banks, 10 ar. Uunniug his assguee that tney
long 10 Aeleuiau Co, aud woulu prosecute Cunning
Ior CONVERSION Vi those Il the iuals were Is lie
beneved them 10 be IL was a very bad funeral aud
The dors the Chief mourners. ne wnoie thing
nutshell that Mr. Heseman hsd been IN
Wan street specializing, and had 0st large amount
An inquiry ny u creuitor as 70 whether Tue
notes exchanged between Henry, Curran y Co. We're
for goods actually sold anu delivered. Mr. J,hh f.
Henry, who was present. repieu hat his firm had
given Mr. Hsgeman The notes AM money 70 help him
IN bio embarrassment, ana that the d. III was ~ take
$40 U0V Worth 0 goods In pay msnt, they
CURED heni Out ali me soods had not been delivered
by Hcgenan Il Co
asked 10 cay worn IN his own behaIf and he replied
The assIg nee that latter The ucts
would bc nore charitable. Mr.. Fuller asked several
questions regarding the notes Mr. Dunning tuxt
the system on Wall street had been TO loags with
orok' sufficient amount Of notes to enable him to
pleage them y the then have
margin. the broker being simply inediary between
the merchant ana The bank. Inere was nothing un-
dernund between himself and Mr. Hegeman; tue mat
ter had been going year; aud u Was distinctly
understood That tie notes BIZ u.s. IN this way
Mr. FuLLER-Was such an understanding IN writingf
Mr. FULLER-ls IL the custom Of the "s,restc that
you recelveI $4,000 Ut Hegeman Co. y notes and
gave him only ten per cent cashY
Mr. DUNNiNG-fhe p; oporton Is not always so small
as that. IL 10 the custom
Mr. FuLLER-A custom more honored In the breach
than In tue observance. custom that viii be
stopped by the law Whenever man goes that way.
Mr.. DUNSiNG-ihe notes were iuly laid Tor.
Mr.. FuLLER-I uon't propose waste the estate In
litIgutOn, but II we're N the placn OF creditor
them. think II rs conversion, anu your lawyer will
A URnDiros-A stand ought to BIO made by the as
Mr.. FuLLER--l will never pay another dollar on the
notes except wat 10 IN the schedule unless the
Mr.. JOHN F. HENRY-When you (referrine to the
assgnee) GET at tie facts you will lind no blame
attachen TO Mr.. Dunning. Mr.. Aegeman does not
blame hin.
Mr.. FuLLER-You cannot get away from the ugly
fact that Dunung had $35. 900 o, Hegemans notes,
for which gave Hegeman 81, 400, ana hypothecaled
them TO RAISE money Tor sumo one else.
MIR. Dunning replied that ne was the holder Of the
notes Tor actual value.
Ihs discussion ended, and motion was thereupon
made BY creditor that the assignee be authorized to
sell property upon the best cash,
close up WITHIN one month, which iln0nsy
adopted, after which The creditors dispersed.