Evening star. [volume] (Washington, D.C.) 1854-1972, 1882-12-28

The Cooperative Dress Association
Closes Hts Doors.

From the New York Sun. Dec. 81.
The Cooperative Dress Association at 81 and
53 west 23d street opened it's store as usual fol-
business yesterday morning. and customers
went in and out until 10 O'clock All customers
were then requested to leave the store. the
doors were fastened, and upon one of the glasses
OF the 2Sd street door was pasted small paper
win tie WORD Closed written on it. All day
long iadies tried the doors in the effort to enter
and several times they gathered in groups and
eAchanged surmises as to what was the matter
Inc rumor soon spread along 23d street that the
Cooperative Dress Association had failed. and
was IN the hands OF receiver. The entire
force OF clerks were folding goods and nm stairs
secretary barley Randall and Treasurer J. NJ.
Hoyt were busy with the receiver, Mr. Freling
IT, Smith. Mr.. Hoyt was subsequently, put in
Charge of the store by the receiver.
In the afternoon Deputy Sheriff Thomas H.
sullivan appeared with attachments tor Sc. 1000,
issued on the suits of R. J. Smith and Philip
Schulhoff. He was told that he had no right
there because the concern was already i'm the
hands OF receiver, but he said he thought he
would stay.
According to statements maize by the direc-
tors, the trouble has been coming on for
months. Trade since the spring had been very
bad. and they trusted that they might regain
lost ground in the Christmas and holiday
traffic. In this they were disappointed. Gus
would still have kept ON, If they had not
learned that several suits had been begun
against them and that attachments were about
to be executed
meeting of the board of directors was held
on Monday afternoon. The directors were Miss
Kate Field, who had been president till about a
fortnight before; Secretary barley Randall.
Treasurer j. NJ. HOyt. j. A. Jameson and w. F.
Drake They decided that it would be unwise
to allow the stock to be attached for the benefit
a a md hat
best to turn the concern over to a receiver so
that all creditors would fare alike After pass
ing resolution to this effect the board resigned
III body. The retiring board of directors re-
ported the assets to be s2i4. eco and the liabl-
Ties Sl25.COO The assets consist mainly OF the
stock On hand some $4,000 due from customers
and few thousand dollars in the Garfield ma
tienal bank. Miss Field said that the closing
was the result OF the bad trade of the fall sea.
son. and had been precipitated by the action If
certain small creditors in pushing their suits
The Cooperative Dress Association was opened
Tor business on October 4, 1881. It Occupied the
large new brick building, five stories high, at 81
and 81 West Twenty-third street, and running
through to Twenty-fourth street. The incorpo-
rators were E. G. Stedman. Isaac H. Bailey. j.
NJ. Drake, J. A Jameson. T. B. Musgraye and
K Blanchard. While in England Miss Kate Field
had conceived the idea of the cooperative asso-
citation, and she brought over Mr.. Anthony Pull
brook, who had managed MANY co-operatiye
stores there. to start this one. subsequent
quarrel caused his return to London. Mr. OAR
ley Randall was made secretary, Mr.. B. Y Puppy
treasurer, and Mr.. John Wales general manager
A great crowd was present at the opening. The
concern was joint stock company, limited,
with capital of S250OOO. divided into 10, 600
shares Of S25 each. These shares sold RAPIDLY
for a time, and 1870 900 was raised among 6. 900
subscribers for preferred stock. very large
part OF the shares was taken by officers OF the
army and navy or their wives and much of the
remainder by women living out of town. Espe-
clal privileges in buying were to be secured to
stockholders At the end of the first six months
the concern had cleared about $1,000 profits In
May following the late board OF directors wa s
elected and Manager John Wales resigned
The secretary and treasurer received salaries
Miss Field received no regular salary but the
directors voted her atOut $1,000 or 1900
year for her services. 1t is said that she has
not drawn all of this. and that besides she has
advanced to the association all her savings, so
that next to II. B. Clain & Co. she is the largest
creditor of the association This is exclusive of
a large block of stock which she holds The
building was leased for three and half wears of
Arnold, Constable i Co. at $50, 900 year This
was heavy rent. and subsequently the third
floor was sub-let to dealers in shoes and other
tradesmen. but all remained apparently under
the control OF the association. There were re-
ception rooms, circulating library, and q res
taurant where food was sold to customers.