Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-02-28
MIDNIGHT BREAK.
Menken Brothers Make an Assignment at
the the Bewitching Hour When
ChurchJardS YaWn.
Liabilities Thought to be Over Half 9
Million, with Assets Sufficient to
Cover the Amount.

About I o'clock yesterday morning several
hacks were observed going along Pontotoc
street, on the outskirts Of the city, in sort
of funeral procession, toward the residence Of
Mr.. Fred Hunt, the register. Mr. Hunt was
walked from his slumbers, taken into a hack,
and then the procession Wended its way to
the house OF Deputy-Clerk John J. Shea,
and that gentleman hurriedly donned his
ulster and his pants, and was taken into a
h ack. The procession then moved into town
MIDNIGHT ERRAND.
The party was composed of the FIVE men,
bers of the firm of Menken Bros, Mr.. r. J.
Black, clerk AMI master OF the Chancery
Court; Mr.. Fred Hunt, Mr.. Shea, and the
LAWYERS Of the firm. Reaching the registers
office they went to work upon an assignment,
which they drew up, signed and registered.
Deputy-Clerk Shea took the acknowledge
ment, and Captain Black was made the as
signee at once This was donefn order that
no attachments might be sued out against
the firm, and in order that the creditors
might have an equal chance for the assets
WAITING TO OPEN.
Yesterday morning the various employees,
probably hundred in number, came down
to their place of business and TO their aston
number of ladies were among the employees.
1t was some time before they found out what
was the matter, and people passing by won
dered why they were all standing there
huddled together. Some one spread the re-
port that the key to the door was lost. A
member OF the firm coming up, told them If
they wanted TO know
WHERE THE KEYS WERE
they had better go to Register Hunt This,
of course, satisfied them that all was over,
and that the firm had made an assignment.
Considerable sympathy is felt for the en-
ployes thrown out Of work at this time of the
year The news of the failure travelled
rapidly, and the common report on the streets
was that the firm had failed for more than
100000. AS the firm of Menken Brothers
has been one of the largest in Memphis, and
as the extent of their business has been very
great, there was general feeling of regret
expressed at their misfortune.
SOMETHING ABOUT THE FIRM.
The house of Menken Bros. was started
by Julius A., J. S. ard n d. Menken, of Gin
cinnati. In 1861 they failed in PorkoPolis,
and coming to Memphis began a small estab
lishment. During the the firm did
we'll that it was able TO pay off the remainder
of its Indebtedness in Cincinnati. The firm
did an excellent business from that time on.
Mr.. n. D. Menken died during the yellow
fever. In 1880 Messrs. Andrews, Hogan and
Tate, who had been identified with the firm
almost from its inception, were taken into
partnership.
A GOOD BUSINESS
has been done until this year But the en-
terprise of Memphis having dropped out,
and there being no effort ON the part of the
merchants collectively to attract the country
people to the city their business has OF late
been necessarily dull. For some time it has
been whispered that the firm was in an I'M
sound condition, but as the dry goods bust
ness has not been very brisk with any of the
Memphis firms it was thought that the Men
kens had AS good show to pull through as
any firm. They were
FINANCIALLY EMBARRASSED
a short time ago, but everybody hoped that
they had remained this side the danger line.
The failure of this firm looks bad for this
city. A short time ago Bejach made an as
signment; recently another dry goods house
packed up and left the city; now Menken
Brothers come in with an assignment en-
braciDg over half million dollars. All of
this can be traced to the narrow policy of
the citizens, who seem to have been asleep to
their interests of late. The firm were
OFFERED FINANCIAL AID
in New York, but refused to avail them
selves of it. Messrs. J. S. and Julius A.
hfsukcp, vino reside in New York, arrived
here few days ago, and they resolved to
make the assignment early Monday morning.
1t ia understood that the firm will at an
early day resume business. Indeed, it was
said that not three days would elapse before |
they would open their store again. By their |
assignment they have placed all their cred
TORS upon an equality.
ASSETS AND LIABILITIES
The firm do not give statement of their |
liabilities, but present complete list of their |
assets.
J. S. Menken, Julius A. Menken. Joseph S. |
Andrews, William Horgan and Godfrey E. |
Tate, composing the firm of Menken Broth |
re, are the assignors, and Benjamin Else |
nan of st. Louis, Mo, and r. ]. Black, Of |
Mem pEis, are the sssignees. They assign |
Ill real, personal and mixed property. The |
conveyance is intended to embrace the stock |
IF goods, wares and merchandise of the firm |
low in their store at No 263 Main street,
Memphis, and in any other stores belonging |
o them.
INDIVIDUAL LIABILITIES.
The individual liabilities of VIM. Horgan
ire placed at S345, and his assets at $125.
The assets of Joseph S. Andrews are as fol-
ows:
)ne-sixth interest in lots Third street,
Memphis, near Adams deed of trust
held by J. X. Speed for $500 .----...- 1925 90
ne-hslfinterest in lots corner Adams and
Third streets, Memphis, Tenn. Lien
tanned by Chancery Court for............. 400 90
Life interest in estate of Joseph S andrews,
eceased.
The liabilities of Mr.. Andrews are as fol-
ows:
Ioney borrowed from Mrs. NJ. J. An
drews pay for Third street lots........s $50 Go
ioGnIey borrowed from same to pay for Fort
ote due Menken Brothers................ l ,2IO 90
ote due Menken Brothers....-..--...--...... 50 IS
ote due Menken Brothers. ---.-........-... 446 81
MS ua .pD Rr1fh prs. /