The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-09-14
H.NEWMAN & co. IN TROUBLE.
ASSETS RECKONED At Se,Sr5. 1873 Ia
BILITIFs, SI,02e,5 500.

Forced to Ask nm Extension OF Tim-. which
Many Creditors Have Already Granted
Ono or the Oldest Firms Dealing In Cloth.
iers' SuppIies-Other Embarrasrrents.
Henry Newman & Co., importers and whole
sale dealers in clothiers supplies at 028 and
$50 Broadway. with a branch In Chicago. one
OF the oldest and largest houses in this line in
the United States have been forced by the
financial stringency to ask the indulgence OF
their creditors. and have formally asked an
extension on their obligations OF eight, twelve,
and fifteen months.
The firm called toy ether some OF their largest
creditors on Tuesday and made known tho
condition Of affairs. They asserted that they
are solvent. and had about ST. 900. 600 surplus.
including the outside means Of Henry New
man. Tho creditors present. who represented
claims to the amount OF $500 900, unanimous
ly decided to give the firm an extension and to
recommend the general creditors to do the
Same. Ewald Fleitman was appointed chair
man Of the creditors. and a circular was issued
yesterday to all the creditors. giving in detail
the situation OF the firms affairs.
The statement represents the firms condi-
tion on Sept. l and was made by an expert Sc
ected by the Importers and Traders National
Bank. The total assets are S2.413. 1885, con-
sisting OF merchandise. 81 .0S9. 055: accounts
receivable $S41.57O: stocks bonds. mort
cages. aud real estate. $500. 10S: bills receiv-
able, sos, 449; cash or, hand. s54.os5; loans
Surplus, SEQ 53G. In addition to his surplus
Henry o Newman shSYed 5o individual assets OF
sseiyable is the remainder aftesr; de de-
doubtful debts The report showed that for
creased with a slight exception as to one year
and the volume OF business was substantially
heavy purchases for the present. year were
afher TRs
stock on hand and collections have been slow
.s "a Henry Sewnsa August Mns ush
SimoRs. Mortimer B. Newman. and Sanford
senior partner and Mr.. FriedberRer a nephew.
Henry Newman has been connected with the
Office boy IN the employ Of house n william iii
street: and worked his way up he BECAME
hS an 1872 M
February. 1885. In January last the ,firm
years been an investor in, city real estate 1t
kneW tie New ok
tile Exchange building.
orty Of the credors had aereed TO eran
That TIE merchandise debts mount to about
the banks for loans and discounts.
Deputy Sheriff Mulvaney has received an at |
tachment for $6.623 against Walter Glyn, i'm !
porter Of dress trimmings at 1888 Broadway, in |
.avor Of Ewald Mommer. for merchandise. |
The attachment was granted on the ground |
hat Mr.: Glyn was keeping himself concealed |
% avoid summons Some Of the creditors say |
IN effort will be made to set aside a Judgment |
which Mr.. Glyn confessed TO Joseph B. Brown |
March, from sna Br Gyn
md agreed to pay the latter $50 week during |
March. 1855. and then reduced the payments
o $40. which he kept up to June last. the total
m cunt paid being $500.
The Sheriff sold out the effects Of the Ceylon
'!anters Tea Company at Fifth avenue and
sixteenth street: Il. & A. s. kaliske. shoe man.
at 20 to 10 Debrosses street, and |
Bernard Kaufman. mattress manufacturer. at |
SO Rivington street
The Sheriff has received two executions
gainst the B. Good man Manufacturing Com
ANY. suspendsrs. at JOB Franklin street and |
t Bridgeport. Conn. one for S3.434 in favor
4 buckingham Paulson and the other for
3.1Sl in favor Of Edmond II. Hamilton. both
or merchandise.