New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-09-05
HEAVY JEWELkI rAihe
r,,y TRADE DEPRESSED BY THE NEWS.

THE TRADE III iebSD-'
., nrr1yrss IN BUSINESS AND lNAD'A''
TO COLLECT DEBTS CAUSES IT. ~
vossntb Marx & Co.. wholesale lewellest.ss 70
20 MaidSnane The liabilities are about $500 GOO
L Lou f,lnre of the firm ast at this time tie
surprise to o the the trace busy with Gm
tSen and that anybody could float oSor brisk
season and fail just as business pv Four or
causes alarm as we aS there were rumors that
I've ,n1' Mare ~ Co, were fnancla,y e,njo
fressed and creditors who tried to have unable to
notes discounted WITHOUT these Stories cir
90 So however Adolphus Marx mr.
ofthe firm went to Europe ana ma nensiye iewelry
chases of diamonds a ast at rest GdOphus Marx
retnrned home from Europe only last tSe European
half of the liabilities are P Nn his trlp 1t is custo
lauU arSops TO greater extent IN tne wsness
trade. than in any, other inc ,on nv of the
10 g,o m this city are of six or more hon'h'
T6s failure has decidedly esc sd
Io several wears our business has been uoho ht
snsli nrofit' Things we're beginning 10 Iooh o"od
Ter however. and we were antic Up the wear is
rastlv done in the next four months ne Ms Allan.
viii urt us badly. not only on TINS siae conf
tic hut also In Europe bom To- trust and whom not
~ Wbv firm should fail so soon after DuvIns 80
large stock as they did recently III arnot be exo
aanSyot understand. To my mind 10 canng9V no
ined nn business basis. 1t hits all around;
RRb aan0 owe everybody of whom they could get
credit" 10, oslod the causes of
1, hossa saii,rn "" said II have little TO
TO saw about the matter, but oad tlines s sre com
don 10 values and the long tune ma s Sne TO. If
country eweer fails he makes 1t point 70 ss c,tK
the city jeweller if possible He thinks ,pe eonIa
arm can stand il. Last week thoug:at Ser and
tide over eur difficulties but was mistaken, ana
aS long as it had to come am glad It Is over h,,,
am tired of carrying other other People to do that.
sor many of our customers lald rig righs
down on us Our creditors have been most or S asi
and have assured us OF Inem apa tried TO do
instiee TO all and guess we have SUCCEEDED. ona
nTcbases IN Europe were not larger than usual ana
i6ere was no fraud about them. They were n"u0
IN i gIiu Human, the assignee SAID "The urn
consists Of Adolphus Marx. Jacob Marx ana hoSsu sun;
Marx They are brothers irotbpr Monroe Marx
interested in the firm but he died after SNORT III
ness aud left everything to his F GrGonea
huvep and When over there in 1883 he contracted
a spinal disease that left him cripple f9r over
year he confined in hospital ~ L was an
Ills had serious effect the firm, Tor nc was "n
eynert in diamonds and they relied upon nun az "
bnycr. Then, when he was able to be about asai5
Monroe died He was the chief salesman 10 a os
70 iii tins bad luck last week an uncle WHO rs
sisted them fnanoiaily died These, think, aretne
n,im9ry causes of the failure, though II business
had been good debts could have oeen eoo
with promptness they would have gotten a, n
onrwov The liabilities are about S50O,OOO III is
i,n1ossible TO tell just what the assets are lheS
consist mostly G to estimate GO0f he@ There
are four or five drummers on inc tVau I
They have been called home How tnen
stock stands it is impossible to say ne ASSN t,
ment was not talked Of understand. until after
fhe uncies death. There are apparently apout
800 600 more preferences IN the assignment tnan
there are really. That arises from the iact tnat
those preferences are notes Endorsed Dy me
firm and discounted. The notes were gwen 10 .iie
firm for purchases and are mostly SedsS 990
Ire actual preferences amount to a5ont SoO,oSVV'
I think settlement can be made with the credIl-
ors as all Of them that have seeL have talked III
way that indicates that they would Ike 10 sec tho
finn resume business right on ,
he history of the firm was obtained at the NOR
camille agency of Z. g. Dun & Co. II was organ Mn
In the year following Adolphns Marx or9i dsI'
was taken in as a partner. and In January, 1851
Monroe Marx. another brother joined IN, Inc mii:
lie died in August Of the same yeaT Bat the name sn
Of the firm continued as before. FOR the ias. re"
wears their business has amounted to about 5000
900 year. Complaints were made to the agents
of the mercantile agencies that they were doing
100 large business for the amount OF tnoI capi'a'
aud that their payments were slow III WAS sag,
however that they met their notes promptly. III
became impossible to obtain a. satisfactory rating
of the firm and when the last book was made out
they were dropped from the lists. ,
The following arc among the largest pTeIeIonocs
which were filed III court yesterday:
E.ascs $500 ~ e0 SSa ao hrO sss
nan, 6,7l5 10; Lukeka 4 Company. Sl,l5s AZ; +.
Telaenheimer London, Ell ,37l; Stern Brothers Co,
S3'63I So: Heibrun Blank. 1881 81 Alfred II.
fmith q Co.. $1,000; William Smith & 90, $1,000
j. Wertheimber, $1,000; Charles Rausch $S,7oo 6l
Louis s. Davidson. tailor. yesterday made an as
signment TO William G. Heath, giving preferences
TO the amount OF $35 $40 81, the largest being In
favor of T. II. Van lngen q Co. for $2.3l7 VI ! Z.
81 SIS 35; W. p Willis & Co, 81 752 93 Uhig
* Co., 81 ,266 90; Jonas Silver, 2,237 IA; Brown.
Draper Co., 81 s3l 49, Belding Brothers & o.,
81 $40 10; w. NJ. Billiard $4,000; G. A. Sterling,
81 900 A. Josephie, $500; and the Nassau Bunk.
81 500
The preferences include the holders of notes and
paper Endorsed by the assignors, and also persons
10 whom the assignors are indebted for goods, to-
ccther with amounts due for salaries. he separate
amounts preferred are not large. only O small
number aggregating over thousand dollars to
each creditor.