Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1891-07-30
A MOROCCO FIRMS FAILURE.
Caused by the Depressed State of
the Leather Market.

Failure of the Charles MuIlin Company,
Morocco Manufacturer OF This City,
Prospects We're Good for Awhile, But
Dull Market Caused Failure.
The Charles Mullin Company, mo-
rocco manufacturers at Thirteenth and
Lombard streets, have made an assign
ment for the benefit of creditors. The
assignment was made on Friday last,
when judgments were entered against
the firm at the parliamentary office In
the courthouse. The assets of the COM
pany are $3s, 1000, with liabilities thus
far amounting to $4,000.
Rumors of the failure have been on
the streets for several days; on Friday
the assignment was made, but it was
kept quiet until late Saturday after
noon.
Willard Salisbury, IT., was seen on
Monday by representative of THE
GAZETTE, when the only correct state
ment of the financial crash was made
known.
Mr.. Salisbury stated that the failure
was due to the great depression in the
morocco trade during the past few
months, thus rendering the sale of goods
very uncertain.
The firm started in business at the
nresent location less than year ago.
The works were fitted up with improved
machinery at cost of several thousand
dollars. The building, which was origi-
nally an old cotton mill, was remodeled
from top to bottom. The firm started
with a capital of about $4,000, Charles
Mullin being the head of the firm and
the principal owner. Business began
last fall under favorable circumstances,
when the morocco business had not
been better for several years. A large
| quantity of goods was turned out and the
firm was jubilant over their success.
Then the conflict came, and the great
depression in trade and the stringency
| in the money market making it almost
| impossible TO secure financial aid in the
enterprise, failure was the inevitable re-
suit.
The firm made speciality of Dongola
leather and their goods were the best
turned out in the local market. There
were less than 100 hands employed by
1 the firm. Unless an amicable adjust
ment can be made with the creditors in
order to allow the business TO go on
when the trade brightens in the fall the
establishment will be compelled to close
its doors. Their men will then be
thrown out of employment. There is
at present large stock of hides on hand
and there being no ready market fol
these goods they will probably lay until
the fall trade opens. The autumn and
fall are said so be the best seasons of the
year for the morocco business. The re-
Taxation of the morocco business at this
time is a tonic of much discussion
among the manufacturers of this city
If the trade does not brighten by fall il
is said that other failures are imminent
The following are the peeferred credi
tors having judgment against the firm
Sarah l.. Mullin, $3.50; Nicholas Web
Der, $450.61 Lander McManes, $327
Otto, Ham & Company, $224.49; Lam
bert Cooper Company, $2l0; Star Pub
fishing Company, $48.60; Willard Sauls
bury, Jr., $3.50; Sharp g Evans, $3.50
Hysore q Son, $l,l33.S7; G. W. Bake
& Company, Ss00.SS; Michael Kelley
$201.25, Browning Brothers, S44242; v
Liebig, $162s0; Richard Hart, $4,000
Byron Malt Vinegar Company, $415.31
Atlantic Chemical Company, S62.05.
In addition to these firms the Charlie
Mullin Company owe Keen-Sutterle
Company, limited, of New York, abou
$4,000 for goat skins. They are ais
! said to owe another goat skin deale
$4,000, and have other debts making tn
: liabilities aggregate between $35, 900 an,
+ $4,000.