Daily Republican., 1882-08-02
DISASTROUS FAILURE.
A Philadelphia Sugar Ref nIng
Firm Coos 10 Iho wall with
Heavy Liabilities.

John Hilgert's Sons, sugar refiners
whose office is at 141 South Front street
Philadelphia, have failed. Their LA
bilities are not as yet accurately known
but 1t is certain that they will be very
large. A levy was made on the firm 4
assets yesterday, in consequence of an
execution issued by jerome Carty,
executor of the estate of George Rem.
sen. The Remsen estate held four
Judgment notes, aggregating $26, 900.
Mr.. Remsen, who was relative OF
Charles M. Hilgert, took the notes for
cash loans to the firm. The notes were
all overdue and had been renewed time
and again. There were rumors Of an
impending crash and Mr.. Carty, to get
in first, entered up his judgment.
Sheriff's officers were placed in the
firms refinery aud the business stopped,
except in the boiling department,
where a sudden check would have been
ruinous.
Mr.. Carty's step was Immediately
followed by the foreclosure by Solicitor
Joseph Parrish of mortgages for 800, 900
held by the estate of George Landell,
deceased, and Edwin and Isaac Landell,
oil merchants, at 1858 Delaware ave.
nue., his surviving brothers and execu-
tors of his estate, against Charles NJ.
Hilgert. The mortgages were given in
consideration for the Kensington Screw
Dock, at Della ware avenue and Laurel
street. The dock, which was owned by
the Landells, was transferred to Hilgert
in October OF last year for 500, 900.
The mortgages were t1e sole considera.
tion. The estate Eel1 one for $5O, 600,
and Edwin and Isaac smother for $50, 600
between them. A payment of $40, 900
has been made on account Of the hrst.
The mortgages and the veyance
were in the name of Charles II. Hilgert
individually, and the bonds were en-
tered up in his name.
The reports of these proceedings had
the effect Of waking up the creditors.
E. Hum Hanson, council for the firm
of Geol ge 9. Carson & Co., of the East
India and South American trade, ap.
peared in the office Of the Pronthonota-
~ OF the Courts of the Common Pleas
and obtained writ of replevin against
Hilgert's Sons for $5O,0OO. When he
lodEuouS uOWoFoIJ bubb oAoCuGloliS Adu
already issued he withdrew his writ
and obtained an attachment, which
would give him the right to secure
property of the firm wherever he could
lind it, subject to the execution.
The Philadelphia National Bank is
understood to be creditor to a large
amount, but the officers decline to give
the extent to which the institution il
involved.
1t is estimated that the property oo.
cupied by the firm has not market
value above $4,000. This, together
with the effects of Mr.. Hilgert at his
residence and the few chairs and tables
in the Front street Office, are said to
comprise the whole assets.
The record of the firm, who have been
in business over fifteen years, is good.
1t is said that they werd never given to
speculating or gambling in sugar, a
notorious and often d sastrous weak
ness of those engaged in the refining
business. They commenced trade at
1909 North Fifth street, the head of the
firm then b ing John Hilgert, who died
few years later, leaving his three SONS
to carry on the refinery.