New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-10-31
TROUBLES or BUSINESS MEN.
FAILURE OF A BIG CLOAK TRM-MvELY TIMES
IN BAxTER-ST.

FAILURE OF BIG CLOAK TRM-MVELf TINES
IN BAxTER-ST.
simonson & Weiss cloak manufacturers at Nos. o@9
and 331 Canals failed yesterday and the sheriff loon
possession OF their under judgments for S4ooo
Carter Pnney d. Kellogg entered the first judgment
against them for S31 005 in favor OF g. A. Aunhiou
Co.. and Blumenstiel &c Hrsch entered the second
| in favor OF Fred Victor Achels for Slnooo' Dun
judgments being for goods sold, and both being al
lowed nv the firm Their failure is attributed 10 a
poor season for their trade account OF the "at1h
weather and to losses sustained In a retail store
which they were formerly interested in at sxtl-@Vo
and FiHteenthst. Bradstreet's reports state thal 'N
firm is composed of Mlchaeis Smons0n ana lheouore
Weiss Mr. Smonson started the business in 1917 VIII
u small capital and admitted MI Weiss do P"''"0
in 1873.
Three years ago they became interested in the retail
store at sixth-pve and Fifteenthst., which for time
was conducted In the name Of their b0okKeepH H.
Werner but was subsequently incorporated under 'ie
style of the John Tunley Company, IL which they
had S27 900 Of the stock. This concern, Is sdo "@9
a losing one from the start and stmonson a Weiss
are reported TO have lost $4,000 there before 1t was
closed out last May. They were formerly at NO. 4o'
broadway and moved to Canal-st. in January last
their rent at the latter place being $1,000, whch was
considerably less than in their Broadway place.
Their sales in 1890 amounted to 100000,
and on January 1 last their statement claimed as
sets Of S25OOOO liabilities 100000, capital $780,
O0O large creditor said yesterday that the Habit
ltes are about $4,000, of which $4,000 Is for
merchandise and SO 900 borrowed money. 1t Is said
I'm the trade that no compromise IS possible and That
creditors will have take what they can get 1t Is
said that the judgments VIII probably absorb all
the stock on baud. Deputy Coroner Hawkes. yester
day received the following rspevns: Ilardt, Lind
gus g. Co., S1,6Os Louis Klein, 800; h. q. BoeS-
neck $3.50 f. p Wendt, 81, 6Ss; Washington NILS,
1885,
Baxter-st had another surprise yesterday In the
fashionable failure line, where the creditors rush III
with replevins and grab all the stock Deputy shelI
Ferguson and his assistants yesterday went 10 Vhe
store of Morris Isaacs, dealer in clothing at NO 80
Baxter-s ST. and took possession. Herman JOS PHI
LAWYER got in first with two eplevins, one in favor
Of Louis Kessel for 1879 and the other in favor OF
John Kafka for S4OO. Max Radt followed with one
for $500 When the Sherif'S officers appeared the
women in the store began to cry, the neighooFs rushed
in and in a few minutes all OF the upper END u
Baxter-st knew of the trouble. great crowd gain
cred about the DOORS the coats were taken III ana the
doors closed. Two big trucks filled with boxes drove
m and stood in front Of the store TO take away Vo
goods.
Then Jacob Cohen, who Is q brother-ln-law OF ME-
Isaacs appeared the scene, with brilliant uiahohu
In his shirt front He appealed to the, creditors pes
ent not rip open the store but 10 give poor l'"''
a chance. othtr creditors who had heard of the
troubIe camo in one by one, and at p. M a love
toast was in procress Mr.. Cohen offered to pay all
the creditors 20 cents the dollar cash, II they
would compromise. \ consultation took place ana
Mr. Joseph drew up paper on the counter WHICH
most If the creditors signed. The liabilities are ABOUT
10000. Mr.. lsaacs has been IN business Ill haA'II
- twenty. six wears. lie said last evening hat he
had paid right along and even yesterday morning had
paid two creditors over S1OO.