The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1886-01-13
The Press and Banner
Wednesday, Jan. l3, 1886.
Failure of Messrs. QuarIes g. Thomas.

The unexpected closing of the store of
MesSrS. Quar!es & Thomas yesterday morning
created quite rippGe on our streets for a little
while. 1t became known to few persons on
the square that all ntLachnlent for past que
claim for rent would soon he issued against
their stock, and 1t was not long before ne iact
was generally known. The attachment
was soon served and the door OF the
store was closed. The key and the goods are
now in the hands of the Sheriff. Uatll salts
factory arrangements arc nude for the pay
lnent of the store rent, 1T is presumed the
Sheriff will hold his grip.
Messrs Qua,les d. Thomas having thercup-
on determined to dissolve copartnerSnip, con, H,
of creditors. MessrS. Benct q Smltn anu
Messrs. Perrin & Cothran were re,
Quested to draw the necessary papers, apo
they made u full and complete aSslgnment OF
every thing they possessed for the oeneIt Oh
all their creditors. without giving preference
to any body, and the assignee'will take charge
of the goods as soon as the Sherim Is s'''sheo
for the process which is In his hands.
ASH following extract from the statutes IN
refere nee to assig mentS may pc o1 lnteleS5 10
some of our people, it Is herewith appende;ai;
"lf any person. being insolvent. within
ninety days before the making OF any aSAgh-
ment by him or her OF his or her property ior
the benefit Of his or her creditors. Wltt view
having claim against him or her. or who Is
under any liability for him or her, Procures
ar suffers any part OF his or her properly u"
be attached, sequeStered, or setSeu GU s' eMtcu-
lnent, transfer, or conveyance W amy paiI ~
his or her property, either directly or lndl-
rcrtiy, absolutely or condittoRaiy. Tie per
son receiving such payment, pledge, assign
1nent transfer, or conveyance W any part ol
.ilis or her property, or 10 be beneHteA thereoy,
or by such attachment, having reasonaoie
cause to believe Sucn person to be lnsolFent,
and that such attachment, scqaeStralloh'
seizure, payment, pledge, assignment, or co -
veyauce is made in fraud OF the PROVISIONS Oh
this chapter, the same shall be Volu, ana the
s,tssignee may recover the property. or the
value Of it, from the person SO receiving IT, or
so to be benefited"
The debts TO distant merchants are general
1y very small. r:ln.ing from so os up ali1 an
the agg, egate are known to be S3,3oO. BESIDES
Il disputed claim of some S2,oO0, so lar as
known, there is only u small amount owing
TO "ho1nc creditors" The assets coilsiSt0f the
stock of goods In store, the accounts due To
the firm, some vehicles ana some lnuleS. ne
goods are believed To be worth. perhaps, s2,oM
1t is estimated thntS2.O0O may be realized 1f@lh
the accounts, and the personal property, out
side of the store, may be worth flota sooe ~
$1,000 ,,o,,o !
1ppl ftc,ly confident Of their ability to pay IN
full every cent that thev may owe, anu su!i
tornpy is of opinion that their creditors Will
lose very little.
Up to yesterday morning they had credit for
all they wanted IN mercantile circles, ana we
learn that they could have readily gone on IN
business, but they thought better to dissolve
-copartnership and quit business. Tncy haa
credit with their factors, and stand high ssi n
their neishbors. Their failure was q surprise
to our people. They did an annual business
of about so, ,CO0 and had been in coparfnerShlpl
for two wears. They make a full surrender OF
their goods to their creditors