The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1890-11-16
THE KANSAS. CITY CRASH.

KANSAS CRY. Nov. 15.-Mr. j. v.
karnes, attorney in this city for the Kan
sas City Packing and Chase hefr1gerator
company. of Boston, received telegram
from his clients yesterday evening TO at
tach the plant and stock OF the Kansas
Iity Packing company, OF hansas Slty'
Kansas, for 500, 900, on account OF them
selves, and for 5000 on account Oh Sam
uel Leonard. of Boston
The Kansas City Packing company is
owned principally by the Kansas CITY and
Chase Refrigerator company, which as
signed at Boston today, and the attach
ment for $3.50 600 against its property here
was made to secure its interest, while the
attachment for 5000 in favor OF Mr..
Leonard was made to secure a note for
that amount given by the Boston COM
pany.
When news of the attachment became
known last night other creditors or the
Kansas City concern attached the prop
erty as follows: National bank OF Kansas
City, ST. 500; American National bank,
50, 600; Armourdale bank, $4,OOO; St.Louls
National bank, of st. Louis. SIC, 900; Mar
tin Cuff, $500; James A Gregory, Kansas
City (stockholder) s., 440. Other smaller
attachments amounted 10 $1,000. The to-
tai amount of the attachments Is S6o2, l62.
The amounts due the banks mentioned
above are exclusively on drafts deposited
fer collection. Some OF the banks have
been paid in full.
The concern in this city had been on a
paying basis for the past year, when the
Boston concern bought 1t from Morris,
Butts & Co., of this city. It has made
money right along. The cause OF the
present difficulty is entirely outside of the
management Its credit was good, and it
had So, 600 in cash in the bank at the close
of business yesterday. The packing house
was closed today, and 800 employees were
thrown out of work. 1t is not known here
what disposition is TO be made OF the prop
erty.
AT BOSTON.
Boston, Nov I5-The Kansas City Pack
ing and Chase Refrigerator company,
and the Kansas City Packing company
and the Cold Blast TRANSFORMATION COM
Dany, have made assignments for the ben
eft of their creditors to f. L. Parker, of
Boston, who is director in the first named
concern. The Kansas City Packing and
Chase Refrigerator company has been es-
tabllshed some ten months, and William
6. Bell of the failed firm of William G.
Bell 81 Co., ives its president. This COM
pany has practically absorbed the two 9th
ers, and holds all the stock in the market.
Stlll, separate corporations are Kept up,
and each does business.
Mr. Parker, the assignee, stated today
that the causes of the assignments were,
first, on account OF the sJringency now ex-
listing in the money market, and, second,
that the banks of Kansas City had with
drawn the accommodation that the COM
pany had been having and which they
still had expected. This action of the
banks made the company decide to assign,
aud, as precautionary move, an attach
ment was placed on the Kansas City
Packing company for $500 600 and such
other proceedings taken as would hold the
assets for the creditors without any prefer
ences. Mr.. Parker requested that it be
stated that the combined liabilities of the
would not exceed $50, 900, and
the nominal assets would foot up 81, 500-
coo. He had no hesitation in saying that
the creditors would receive in time pay
ment in full.