The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-01-29
SUSPENSION OF MoHR & moHR.
The Failure Attributed to the Delay of
Congress in Changing the Bonded
Whisky Law.

CINCINNATI January 27-The Mohr &
Mehr Distillery Company, of Nos. 40 and 81
Sycamore street. made an assignment this
morning to Charles e. Rankin The bond
of the assignee has not yet been fixed. AS
the sum of $f0e, 900 is in adjustment by this
assignment and as it is regarded by many as
partly caused by the delay of Congress in
legislation on bonded whisky, itexeites great
interest here and has been the talk of the
street. The Mohr&Mohr Company was the old
est and one of the largest houses of this kind
in the country. In an interview Mr.. Thorpe,
of the firm, stated that the causes of the as
signment were the following:
In the Lafayette fire and the late fire on
Sycamore street the losses of the firm were
| about $780, 900 at least The losses on some
bad debts during the last eighteen months
were about $4,000. Mr. Mohr, ST., has lost,
in his operations on his Third street estate
and on his plantation i'll Clermont county,
over 100000. The firm, moreover, has been
carrying several thousand barrels of whisky
In bond. The slowness of Congress to act
made Stagnatiou in business, which caused
a depression OF ten to twenty cents per gal
Ion on whisky. Then in having to meet
large engagements to take out bonded
"AAiSNg blfC tiiaAt HOuIll ltScll uHdDl6 10 no
So The probable amount IN adjustment
will be about $400,000. Mr.. Mohr stated
also that had the bonded bill gone through
the firm would never have made am assign
ment. He said further, that il the bonded
bill is passed the firm will be able to pay
dollar for dollar
He says that other dstillers will be pushed
in similar manner and the bonded bill can
only save them There are failures all over
the country, with more to come.
The 500, 900 mentioned above in adjust
ment is not the sum for which the firm as
signed, but it involves all the assets of the
hrm, which are large, as we'll as their liabili-
ties. The failure was not known on Change
till after II clock. There ita5sorbed all at
| teniion. The announcement however, did
not cause much surprise. A majority of the
merchants said it was just what they had
been expecting The company has had very
bad luckin the last two years. Twice dur
ing that time their dstillery at Lafayette.
| Ind, was burned down, and the last time the
company received very little Insurance. The
| rectifying concern on Sycamore street was
also damaged by fire year ago, hut it seems
| to be accepted as a fact that the lack of con-
fdence in the passage of the bonded whisky
| bill by Congress is the principal cause.
1t was also remarked that the firm
is reported to have 100000 in
bonded whisky in their cellars; that
they have been heavy borrowers for
some time, and their paper has been below
par. They did business with the Citizens s
First National Bank and Seasongood &.Sons
Bank.
Charles F. Rankin, the assignee, was busy
all the morning, arranging the details OF the
assignment. He said it was impossible to
say as yet what the liabilities were or TO
estimate the assets. At the office of the
firm no one could be found but the book
keeper and the clerks, who referred all callers
| to Mr.. Paul Mehr, secretary of the company.
The general opinion on Change to-day was
that the failure of this firm was only the pre-
cursor OF more heavy failures among the
whisky men. Trade has been very dun in
an ticipation of a change in the bonded whisky
law, and now that pretty much all hope OF
its passage has fled a general crash is ex-
pected, The bond of the assignee was fixed
at $50, co.,
| Tonight at the clubs and on the streets il
was the absorbing topic. Congress was Sc.
verely blamed for delaying action on the
| proposition to extend the period on whisky
in bond.