The sun., 1893-08-05
HEAyY DRY GO0Ds FAILURE
j. n. Walker d Co., Chicago Successors to
1T. stewart - Co.. Ask for n Receiver.

j. H. Walker H Co, Chicago Successors 81
A. II. stewart ~ Co.. Ask for q Receiver.
CHICAGO Aug. 4.-Jnmes II. Walker Il Co.
denlers In general dry goods. and ono OF the
best known firms in the city, confessed judE.
ment In Judge Windes's court to-day on
note for $5.4o5. In favor OF Edward Noa
Shortly sfterward formal petition was drawn
MP for the appointment Of receiver. Differ
ences between the members OF the firm were
developed in n dispute before Judge Windes
over the appointment Of the receiver. James
II. Walker himself asked that the Title Guar
antee and Trust Company be named. and he
was at once opposed by the other members OF
the firm. who also appeared in court. They
arose. The suspension OF business. as indi-
Gated In b tbe e6d appIieaton Tor receiver involves
The firm succeeded to the Chicago business
OF A. 4. Stewart GO. of Now York several
years ago aPd h ala both 6oh hs Wholesale and retail
avenue and Adams street. one OF the largest
shopping centres in tho city The action taken
to-day was not unexpected. There had been
Iumors for some time from the East, that tie
firm was trying to borrow money. Yesterday
confession was made or the application for u
received was filed, II was to be heard In The
street that a big commercial hcuse was in DIFF
Judge Windes WI finally ,appointed ": A. Ma
Company receivers Tor the company. To con-
form to tho wishes Of al! concerned a third re-
cetver Will be appointed, probably to- morrow.
from New York would arrive in the city to-
polntment OF third receiver general M cot
5 Ing OF all the creditors vi wilI be held one week
. satisfactory settlement Of affairs will be-
made on dollar for dollar basis.
firm BaSsy owSd in M Tshe a4 sd sa
was given in Mr. Walkers name. Mr.. Walker
q thss esompany when asked what had precip.
1T Is simply a case of being unable to raise
money to meet pLessins debts. The company
600, / cannot state what our Indebtedness
9say Is but ,Snn d. not beieye & It s q
lar for dollar. had no objection to receiver rec e
taking charge hs am fully aware Of tho con
Mason and myself should have beon named. ~.
secoyes was ioi By 1 b. "Hp2lifsHt 5ailiard co. q
New York. Who are large creditors Attorney
Ns~ ek fns who haSs ssse ss
claims .af; aaTfainst the eoncern saving that they
hna be
ceiver for the Walker Company. provided it
This afternoon W. A. Mason. treasurer of tho
placed the following notice on the doors Of the
gsq., Ss%SaP reesSess sas
There are enough assets to pay Off all liza |
bllities. and no one will lose anything. Tho |
business will go right along as usual and we !
shall soon be out Of the receivers hande."
Attorney Chetiain Of New York who was |
present. said he knew nothing about the az !
fairs q the firm. He was simply taking care |
Of the interests o. Columbus X Cumm inEs W. |
3. Howard. j. Nj. Hatz. and others Of New |
The firms total liabilities we're given out as
S2.4oOooO. No statement was made as to the |
assets. Among the Indebtedness Is: A. d.
yuillard. New York. Sl2g.0Q0: John b. ClaaIn
Co.; New S SYork; $4,000: Bliss. Fabian 4 Co..
c The company VA was o organized Dec; 27. 1892
tho present time are James II. Walker. Presi-
dent dent: James Hi Walker. Jr.;; Columbus R.
atas Hertz NJ Cumpings Is said to be the largest
Hertz, led the fight against Mr.. Walkers ap-
pointment as one Of the receivers. The firms
assets consist Of open accounts and notes OF
fscS 4, a Value Of $1,000 900. and large quantity
Wholesale and retail stores. It also owns con-
ntderable real estate, the whole value OF which,
Y Y said; cannot be given owing to the unset
tied condition OF the market.