The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1884-05-23
b USINESS FAILURE.
Assignment OF Elicit, Drewry e. Co., Whole
sale Dealers I'm Dry Goods.

sale Dealers I'm Dry Goods.
Elicit, Drewry & Co. made an assign
ment. which was placed on record in the
Chancery Court about Z. NJ. yesterday.
The firm is composed of Andrew l.. Elicit,
Clay Drewry. stephen b. Hughes, J. ii.
Estes. and A. l.. Elicit, Jr. They sue
ceeded June 80, 1888, A. l.. Elicit & Co..
that Is, A. l.. Elicit, Clay Drewry, S. B.
Hughes, and A. Judson Watkins. Their
business-stand Is on the west side OF
Twelfth street between Main and Cary,
and they had large trade in Virginia and
the South. Their credit was high, and all
the members OF the firm stand frst-raie
for problty and skill and experience in
their business.
Their assets (property, stock, debts, &C..
and their liabilities are each supposed to be
in the neighborhood OF S200,000. Exact
information on this point IL not Mt hand
nor have the firm got it. as their book
keeper, who is the trustee designated in
| the deed, has been sick for two weeks.
The causes that led to the embarrassment
OF the firm cannot now be authoritatively
| stated.
THE DEED.
This instrument begins: "This deed,
made this 22d day of May, 1884, between
Andrew l.. Elicit and Mamie Il. Elicit his
wife, Clay Drewry and Jane Taylor Drewry
his wife, stephen b. Hughes, Joseph III.
Estes, and Andrew L. Elicit. Jr, parties
of the first part, and the said Andrew FL
lett, Clay Drewry, Stephen B. Hughes, Jo-
seph III. Estes, and Andrew l.. Elicit, Jr.,
| merchants and partners, consisting OF the
firm Of Elicit, Drewry & Co.. OF the Sc
cond nart and John c. Freeman. trustee.
as hereinafter explained, of the third part {:
witnesseth. whereas the said firm OF Elicit,
Drewry d Co. have become embarrassed.
and has determined to stop business, and
to make an assignment to trustee OF all
their property, individual and partnership.
for the purpose of securing all their ere
ditors. separate and social, in the manner
and order hereinafter set FORTH" &C., &c.
The firm then assign all their goods,
stock, bonds, debts, fixtures, furniture,
&c.
Andrew l.. Elicit and wife assign all
his individual property except household
and kitchen furniture, which is less than
the exemptions allowed by law. and the
deed says would produce very Ii tie il sold,
and the following: Lot. 81 feet, on Nir-
gina street; also. individual interest Of A.
l..
Main between Sixth and Seventh Zone OF
the Arlington tenements); also. his farm
in Hanover near Atlee'S. 333 acres; also,
ten acres adjoining; also, 305 acres adj
Joining; also, certain lots lying in the
lower part OF the city near the corporate
| limits; also. interest OF A. l.. Elicit in the
old firm OF A. l.. Elicit q Co., lately dis
solved, after payment OF the debts OF
the firm; also, all personal property on
farm in Hanover; also, all other personal
property belonging TO him-Andrew H..
| Ellett-hOusehOld and Kitchen furniture
alone excepted.
Clay Drewry and wife assign his in
dividual property, except his horse, car
riage, wagon, and household and kitchen
| furniture (Which are less than the eXemp-
| tions allowed by law), including farm
and residence on Deep-Run road, half
mile from Richmond; also, undivided
interest in the Arlington tenement before
mentioned also. his fifty-seven acres in
the county OF Chesterfield on Richmond
and Petersburg turnpike; also, all bis in
terest in the old firm OF A. l.. Elicit Co..
after payment OF that firms debts; also.
all his personal property whatever, except
reservations above.
| ID.
est in the old firm after the payment OF the
debts Of said firm. His household effects
| (at the Exchange Hotel he claims as his
| homestead exemption, they being OF small
value.
A. l.. Elicit, j., has no individual pro-
perty except small amount OF household
furniture, which he claims under the
| homestead.
Joseph II. Estes has no individual pro-
perty.
THE TRUSTEE.
The trustee is to sell the merchandise
with or without notice, and may sell 1t as
! a whole or otherwise, or may continue said
business so as to wind it up to the best ad-
vantage. He may lease out the real estate
until he can sell it to advantage, and may
| sell it at public or private sale.
CREDITORS.
The creditors first preferred out Of the
assets Of the firm are: \. II. Drewry,
Slj,922; notehOlders, $4,000; Richmond
banks three OF them), 100000; various
individuals who lent the firm money, Va
rious Others who Git is supposed) endorsed
for them (mOst ali OF these are Richmond
people,, and few others. The total sums
thus first preferred are about Sl03,000.
All salaries and wages due employees Of
the firm are likewise preferred in tue first
class.
In the second class come all the other
creditors OF Elicit, Drewry &'CO. These
could not be named in the deed, rs the
books were not writ en- up, by reason Of
the boOk-keeper's sickness.
The individual property surrendered is
to 90 to the payment first OF individual
creditors named in the deed, OF whom
there are a great many, having claims gen.
erally OF comparatively small sums.