New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-06
n. J. SCHLOSS & co. ASSIGN.
ROBBED BY A BOOKKEEPER.
A BIG CLOTHING FIRM WRECKED BY IT'S
CONFIDENTIAL CLERK.
JOSEPH II. LOUIS. THE CLERK, TRIED TO KILL
HIMSELF MONDAY NIGHT AND is NOW
UNDER ARREST-LIABILITlEs ESTIMATED
AT sGnn PREFERENCES GIVEN.

UNDER ARREST
AT 5000, GO0,ooO-PREFERENCES GIVEN.
MI schloss & Co. manufacturers and whole
sale dealers in boys clothing. Nos 6o3 ana BOO
Broadway made an assignment yesterday AFTER
noon to Simson Wolf, OF the law flrm OF "oh
Kohn & Uman. at No 2O5 Broadway Inc
assignment was filed in the County Clerks
office n few minutes before o'clock, and VIII
bc n great surprise to the trade on account OF
the high standing of the firm and their long
established business. The failure, 1t Is declared
was prccipitated by disclosures in connection
with their chief bookkeeper and confidential
clerk. Joseph II. Louis. who attempted to COM
nit suicide at the Union Square Hotel on Mor-
day night, and Is now under arrest
The affairs of the firm are said to be In such
condition that definite idea OF the liabilitleS
or assets can be given by the firm, but IL IL
thought that the liabilities may reach s6oo'ooo'
The assets are believed to be large, CONSISTING
mainly OF merchandise and outstanding ac-
counts The partners are Nathan j. and Henry
7 Schloss. brothers Bradstreets reports say
| that the business has been established many
years. the firm having succeeded Cohen &
Schloss in 1874 They gradually built UP
! large and extended business. until their sales
reached $1,000 900 a year The firm claimed a
capital of 100000 but Bradsreets only gave
| them the second grade Of credit. In former
| years they had been in the habit OF discount
| ing their bills, but for the last six months the
sale OF commercial paper was so restricted 'ha'
they were not able IL Is said to fall back on thls
source TO meet maturing obligations. Ihey
were however able TO borrow considerable
money from relatives and friends. The hrm
| have for some time carried stock OF merchan-
disc valued at from 900 to 100000. and usu-
ally had about s35OOOO in outstanding accounts
/ coiI q
almost entirely in the hands Of Mr. Louis. He
| had been with the house about eighteen years
and was implicitly trusted. He made up the
statements Of the firm for the partners made
all the credits negotiated their paper, looked
! after their banking matters, and made their
! loans.
THE FIRMS LAST STATEMENT TO BEADSTREErS
Henry + Schoss looked after the manu-
! featuring department Of the business, and the
firm had the cream of the trade for childrens
fine clothing In September they were slow
| i'm payments. and In response to inquiries as
! 10 the reason, y. j. Schoss. In the presence Oh
Mr. Louis made statement To Bradstreets
giving as a reason that they had not been able
! ,o napo,iate paper on account Of the tight
money market. having then only sloooVo out IN
| stead Of the 100000 usually out at that time OF
| the year This explanation was regarded as
| aafi
| they claimed assets Of over sl.l0O,Ooo. Of which
| merchandise was 200 and outstanding ac-
| counts between $500 900 and 100000. The total
liabilities were not over $3.50 600. Of which $780,
oOo natures In October November and De-
cember. the balance running over into next year
| Wolf Kohn & Ullman the attorneys, maze
| n statement yesterday about the fallure' III
which they said the assignment was brought
abou, by Joseph II. Louis. the confidential clerk
and bookkccper for the firm
The firm made the following preferences
Schedule A-Troutman & Co, Louis Levy, Isaac
Levy Emaue Frankiicli Adoph kerbs. Mrs
Adolph Kerbs Leopold Scheuer. Herman Held
elbcrg & CO.. =. schloss x Co.. Schoss & Sons,
Mrs. Emclie Schlcss Mrs. Theresa Schloss'
julius T.. Schloss. Milton schloss. Hugo Schloss.
| Herman Rosenthal. Max Rosenihal. Roscntha
| Bros n CO. Alfred Pratel. Louis Blum. SlcgiTled
| Uerzog Mrs Gussic II. Strauss. Robert Levy,
Mrs Mary Rager. Ida Rossbach, Of Frankfort
| Germany; Elka Naumbcrg and the Importers
and Traders National Bank, the latter being for
$50 900 The amounts to the others were ho'
Schedule B-Naumbcrg Kraus. Lauer & Co.,
Fred Butterhcld Co.. Simon 3ing' Jr,; ~ n.
| sriedlander Il Goa 5. NJ. Cohen II Co, Philip
| Roman Henry G. Van der Benge. Goldman.
| Sachs & Co. To an amount not exceeding w.
| 500: Sylvan Lchmaicr $1,000.
Nathan j Schloss livcs at No 80 East SeV-
entv-ninth-st. and Henry J. Schloss at No. 10
| West Sevcrty-fourh-st, each owning the mousse
| ne lives In.
joseph Herr Louis. the head booklIceper and
confidential clerk Of the firm had been trusted
SO implicitly that the knowledge Of his crime
fell like "a thundcrbot. large salary had
| been paid to him 10y the firm. and he also had
received "A percentage of the firms profits on
sales He lived With his wife and two children
I'm a well-appOinted home at No. lO2 West Sew
cutv-nfth-st and his character was believed
to be above rcproach The firm left the de-
tails Of the business so completely In his charge
that he had the fullesl opportunity to steal,
and he made the most Of the opportunity. TAX
ing care to cover up his thefts as he supposed,
by false entries in the books
THE FIRM EEGINs An INVESTIGATION.
Shortly before noon on Monday Mr.. Schloss
asked Louis to explain an apparent discrepancy
in the accounts not suspecting then that he
had been guilty Of theft Louis made some
rambling explanation and then hastily left the
building His conduct alarmed Mr.. Schloss
who at once began an investigation with the
aid of an expert accountant 1t was soon
made evident that the bookkecpcr had been
stealing Solomon Kohn. of the law firm OF
Wolf Kohn Il Cllman. the firms counsel, was
summoned in haste. and was sent To consult
with Inspector Mclaughlin at Police Head
quarters Louis had not returned To the hrm
place Of business, and there was reason to think
that he had fed to escape arrest. Detecuvrs
Alonclc and Formosa were sent to keep watch
at Louis's home. in Seventy y-hfth-st., and arrest
him If he went there.
TRIES TO KILL HIMSELF WITH GAS.
In the mean urne Louis had gone to the union
Square Hotel. at Fourth-aye and Fifteenth-st
and hired a room, registering as j. Herr, New
York" lie sent To room No. 40 on the
third floor and locked himself in there About
. | $50 D. IN. the housckeeper noticed smell or
gas which escaped from the room. and she
called the attention of the clerk to the fact
The clerk called the engineer and the carpen-
ter and they broke into the room and found
| Louis insensibe I'm the bed. The room was full
of gas which had escaped from the open burn
. crs There doubt that the man had at
tempted suicide.
pr shannon. OF No 2l2 Second-ave.. was
! called TO the hotel and succeeded In restoring
him To consciousness Meanwhile the pockets
: of his clothnr had been searched and postal