New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-09-20
FAILING FOR A MILLION.
RNDsKopF BROTHERS & CO. SUSPEND.
SURPRISE CAUSED n THE CLOTHING TRADE-PREF-
FRFNCFS FOR 1888. 900.


FRENCES FOR SSj3 600.
An assignment was filed at 9 a. m. yesterday
Tor 'hc benefit ~ the Of Rndskopf Brothers
Co.. wholesale clothcrs 81 No. GlS Broadway. The a.
'guer is Jacob " Mack. Of The Nathan Manufacturing
COMPANY Stern Myers ~ No : Wail--t. counsel for
The dr state that the liabilities about T9oooOo OF
which only about S9OOOOO owing for merchandise the
residue being mainly for money advanced hy banks and
friends o the members The assets estimated ar more
than million. consisting of merchandise outstanding
accounts hauk--tock. ere.
The members oi the dun ara simon and Norris
Rind,kopG Raphael Buchman and Jacob Roseufhai. The
firm Of I;iud-kopf Buchanan Go. was Organized n 'n
onua1 about thirty years ago, and established IN
NcVY York about ten years later During this time D. has
been one OF the leading Wholesale clothing houses ln c
country passing successfully through commercial
crisis and never being compelled even To- take an extern
sion. IT. promptucs- and ru-tWOrhiuess have never
been challenged The firm stated i'm July Last that 10 had
O. stock worth 100000, and account. receivable OF
S3oo0OO making total business asset, OF S~OoO0o
against which it owed for merchandise about r250o0o
and for borrowed money 100000 Its sales the proceed
INK year were 81 .0o0ooo. n commented on then
thai thc stock which The firm carrying was large I'm
proportion to the amount OF IT, yearly business. For
several years past the house has suffered severely from
the -trngeucy of the times. Younger
house. have competed sharply with 10
Tor b.. trade in the south and West Yet It's
uustird name. and the fact that uo Wo'-l" clothing
urn l~ better country dealers All over me
aud served hold on the threatened failure for long
time During this period of impending collapse the firm
was frequently assisted by private friends few days
ago % largo interest. amounting 20 nearly Sl3O.Ooo
was iu serious DANCER and could nor hc secured
The firm hd then 20 determine whether or not o accept
,1U further assistance special investigation ot it-
condition convinced ~ that had mo- right 90 subject IT,
friends to further hazard and accordingly under She
advice OF ifs counsel 10 concluded t0 make the assign
mrut.
THE greatest sympathy Is expressed for thc firm. es
pr'a..F Tor Mr. Buchanan. whose business connections
have been WIDELY extended and lwfy~ honnr1hly known
Tie is director fh, United states Life Insurance Com
pany Great surprise and regret expressed 200 IFS
office fho urwe of Mr. Buclmlu- failure
Timothy r. Bro-uau. thc president -aid "Nc have
regarded him "a very wealthy man, who hd' u
vested large 4ums of money iu various enterprise, 900
each instance silent partner lie has the reputation
OF being strictly honorable" Tbs president
OF thc Importers and Traders Rational Bank said m
tones expressive of deep feeling. " Mr. BurhWlu has
been connected with thi. bank dealer cho'r aud
director Tor about sixteen years This misfortune has
mott impaired his standing 20. 300 honorable man OBJ our
estimation. H. probably built moro ON his hopes than
nu Dds uet-" Mr. Euchmdu has ALSO been director OF
tbr Fifth Avenue nluS since IFS organization.
Morris Rud-,ppf Is treasurer NJ thr United Hebrew
CIurifI.. and ll.n.rf fine Hebrew orphan Asylum.
AL tlc,uulrlttlo creditors about 500 600 iu amount
have been preferred lh, preferences are