Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1893-05-19

straits.
At $50 o'clock this morning Robert
Hill secured two executions, one against
the firm and the other against the COM
pany, and the sheriff took possession
of the Grand avenue and East Water
street stores. The banks claims ag-
gregated $4,000. Quarles, Spence &
Quarles, attorneys for Robert Hill en-
tered judgment in the circuit court in
two cases in which the happens are
concerned this morning.
In the case Of Robert Hill against the
Lappen Furniture company Judgment
on cognovit was entered in the sum of
$20.O5654. This was ON Il promiSsory
note for $4,000 made by the defendant
December q, 1892. The note was made
to the Wisconsin National bank.
In the case of Robert Hill against +.
A Lappen and Owen Lapp2n, Jr., judg
ment in the sum of $24 ,361.1 was con-
fessed. This was on Il note due last
evening" The note was dated January
II, 1893, and was for $4,000. The
clerk of the court Immediately issued
executions on the judgments.
At II o'clock q judgment for $10,>
312.7S was entered by A. Landauer
against Frank a. Lappcn and Owen
Lappen, Jr The judgment was enter
ed upon a promissory note for $4,000
dated December IS, 1892. An eNecu-
ton was at once issued on the Judgment
and placed in the shcriff's hands.
The sheriff collected about $400 per,
! 4.,x- II, t1ln Stntn
few days ago. 1t is understood that
the personal tax due the city, aggrc-
eating nearly $1,000, has not been paid
yet.
George n. Sweetland, Mr.. Lappen's
advertising agent, stated this forenoon
that the notes held by the Wisconsin
National bank were not settled yester-
day, when they became due, because
Mr.. Lappen was not in the city. Mr..
Lappen returned this morning and made
a determined effort to settle the mat
ter. Later it was announced that the
claims of Robert Hill would be assumed
by another bank and that the sheriff
would leave the stores by II o'clock.
Some time after II o'clock, however,
it was announced that no such settle
ment had been effected. In the mean
time the execution in favor of A. Ian
dauer had been issue.
Shortly after II o'clock this afternoon
Winkler, Flanders, Smith, Bottum &
Villas, representing the PlankintOn bank,
docketed Judgment with the clerk of
the court against T. A. Lappen and
Owen Lappen, Jr., for 19,2O7.64.
This judgment was on thirteen prom
issory notes, the largest being for $75,-
900 and the smallest for $1,000. These
notes bore Z and s per cent. interest,
these rates being about equally divided
among them. The happens had paid
some of the interest on these notes and
a little of the principal. The attorneys
went to the sheriff's office at once and
an execution was issued at 2:15 o'clock.
At the private office Of Mr.. Lappen
representatives Of the newspapers were
met by the confidential man Of the
firm with the statement that Mr.. Lap
pen was not in and that he had moth
ing to say for publication. From close
personal friends it is learned that the
action on the part of the Wisconsin
National bank was entirely unexpected
by Mr.. Lappen. He was given to I'M
derstand, it is claimed, that he had
nothing to fear, but that reasonable
leeway would be given him, the bank
officials knowing that he was doing a
larger and more satisfactory business
this spring than ever before.
The news that proceedings had been
started came to him as thunderclap.
Mr.. Lappen's friends also state that
his company has been doing a large
amount of hotel furnishing throughout
the state this spring and that large
amounts are outstanding in this way
which are not due for thirty days.
At the Wisconsin National bank it
was stated up to 1 o'clock no arrange
ment to meet the notes due had been
Jade, although he had been expected
that the matter would be settled be-
fore that hour.
The trouble to this extensive bust
hess enterprise formed tn topic Of con-
versation in all circles today. The gen
eral expression was one of hope that it
would be settled satisfactorily and that
business would be resumed.
The firm of F. A. Lappen & Co. con-
Eists Of Frank A. Lappen and Owen
Lappen. The Messrs. Lappen came to
this city from Boston about four years
ego and rented the larger portion Of |
the Plankinton block, at the corner OF |
Grand avenue and Fourth street, where |
they established one Of the biggest |
house furnishing businesses in the west. |
Their enterprising methods soon placed ,
them in the front rank Of Milwaukee
merchants and their business rapidly ex-
tended until it had recently been enor- !
NOUS. A little more than year ago a
dry goods department was added to the
That is run, however,
by an Independent concern, the Weber
Dry Goods company, which is in no wise
affected by Mr.. Lappen's embarass-
ment
The Lapen Furniture company was
organized last summer at the time that
Mr. Lappen purchased the retail bust
ness Of the Matthews Bros. Furniture
company. Several prominent Milwau-
keeans became interested in the Lap
pen Furniture company.
Later
At a meeting of business men to-
night it was decided to allow Lappan
& Company to resume business tomor-
row. The assets of the firm are placed
by Lappan at $5S6,OOO and the liabii-
Hos OF S220 900