National Republican., 1888-01-25
THE BON MARcuE TROUBLE.
Answer of the Late Firm to tho
Charges Made.

Charges Made.
Messrs. Ed yalds and Barnard, as attor-
neysfor the defendants in the equity cause Of
Guttwelly Brothers against Messrs. Mayer
& Rohr and lsldore Saks, assignee, for In
| junction and receiver, have filed their
answer.
The firm denies the truth OF the state.
ment In regard to the purchase OF goods
being made as set out in the bill, but
admits the truth OF the partnership aud
the amount OF capital being 100000. They
deny making any statement on this sub.
iect for the purpose OF securing credit,
and assert that they did all In their power
10 make the business suCcessul. They
deny any personal knowledge that the
firm was In March, 1856, reported as slow
In meeting Its payments, They admit the
making OF the assignment, and state that
the goods and merchandise were appraised
at $4,000, and the fixtures at 5000, and
admit the cash receipts on Saturday, Dec.
"a, to have been So 053 go, but deny that
on the dates mentioned the fri obtained
loans from the National Bank of the Re.
public, and assert that the notes then
given were renewals; admit that nearly all
the indebtedness was incurred within six
months of the execution OF the assignment,
but deny that the purchases were arranged
to mature after the close OF the holidays,
and say that fully one.half became payable
before Jan. l. They deny that there was a
wrongful or illegal conversion OF the
FIRMS moneys as charged. They admit
mat none OF the preferences appear for
merchandise, and assert that the prefer.
ences are bona fide debts and obligations,
and assert that they know Of no fictitious
debts which are to be paid. They admit
that Mr.. Saks is one OF the firm OF Saks &
Co., but deny that his business engage.
ments prevent his giving attention to his
SSSe' SSTs evs1 as hS SS'gnss 0m,,t that te6o they
with him, but 10 justice to their creditors
he was selected with the belief that he
would execute the trust In good faith. 1t
Is denied that Mr. Saks has placed the store
IN The hands of clerks, so that the assets are
liable to waste, AID they believe that the
assignee Is giving his personal attention to
the establishment, and is using every effort
to execute the trusts for the benefit OF all
concerned. They do not know that the
assignee considers himself bound to make
demand for explanation as to the cash re-
ceipts during the holiday trade, and say
that contemporaneous with the, execution
and delivery of the assignment they turned
over the books to him, and no such request
has been made of them. They deny that
they have not turned over oil the assets, or
that Saks has declared that, having real
ized enough to pay the preferences, he will
make payment Immediately, or that he
proposed, without giving the creditors op-
portunity for examination, TO pay the
preferences before Jan. 0, and would dis.
pose OF the assets In bulk and close out the
affair. They admit that their sales since
the assignment up to the time for the filing
OF the bill of the assignee has realized, as
they believe, 81, ,44054. They state their
belief that unless the creditors realize from
the assets they will realize nothing, and
deny that there is necessity for
receiver. They deny, that com.
emitting them to relief. In answer to tho
interrogatiops they state Il .,,,es
are $70,574 26-$5G, ,031.0S merchan-
disc, $Sl4.O5 upon notes, $l,247 expense,
$500 National Bank of the Republic re.
newals, $4,000 Jacob Meyer, and $500
Jacob Rose. The stock In August last was
S41, ,564.29, and fixtures $6,104.S5. The
amount Of merchandise purchased STAGE
July l was S64, Al 9S: the cash receipts,
s65,3S1.6l; amount borrowed of Julius
Hammerslaugh Aug. 80, 5000; amount
paid out S24, 701 80; amount paid for bor-
rowed money, $i7 500. The amount Of
sales from Dec. to Dec. 26 was $2l, ,S54.
They state that the borrowed money was
deposited In bank and drawn to pay for
goods, sc.
Mr.. Saks, the assignee, denies the charge
in regard tothe payment Of the preferences,
and pronounces 1t as untrue. He accepted
the trust In good faith, and IL permitted
will continue to perform his duties faith
fully and honestly. He files statement of
receipts and expenditures from Dec. 81 to
Jan. 81, showing receipts $l5, .5S; ex-
penditures, 81, ,9O2 O6; balance, $2S70.52.