The Frankfort roundabout. [volume] (Frankfort, Ky.) 1882-1908, 1893-07-22
A BUSINESS SHOCK.
e. III. Taylor, Jr., q Sons In
volved in the General Finan-
cial Stress, Forced to
Make an Assign
ment.

The city was dumbfounded Thurs
day by the intelligence that E. FL. Tay-
lor, Jr., & Sons had made an assign
ment. Expressions of deep regret
were heard on every hand and it was
universal hope that the embarrass-
ment would merely prove temporary,
and the firm, which, in point of enter
prise and the promotion Of pros
perity in the community in which it
conducts it's business affairs has no
superior in the State, would soon re-
cover and be placed on substantial
basis beyond all danger from the fl
nancial troubles that sweep at inter-
walls over the country. At present
the condition of the firm can not be
learned. The deed of assignment is
on record in County Clerk Smiths
Office, and is dated July 10, and sub
scribed to by E. H. Taylor, Jr., & Sons
and the assignee, the Security Fund
& Trust Co., of Lexington, by w. L.
Threlkeld, Secretary and Treasurer.
The members of the firm, who are E.
H. Taylor, Jr., j. Swigert Taylor and
Kenner Taylor, also made individual
assignments to the same trust COM
pany, which carries with it the hon
orable intention of yielding up for
their debts every dollar the firm col
lectively and individually may be
worth 1t can not be told yet whether
any other person or company is af-
fected by the assignment or not. Mr..
John Meagher, member of the Nc
Brayer distilling firm, in which, E.
III. Taylor, Jr. & Sons also had an in
terest, says the McBrayer firm is not
at all involved. He also said that the
last balance sheet of E. II. Taylor, Jr.,
& Sons, on the first of the month,
showed property worth 100000, and
that the liabilities were greatly under
that sum. He did not think there was
any question whatever of the firms
recovery as soon as the financial
storm that is now blowing over the
country subsidies. With whisky de-
Ginning and sales absolutely suspend
ing, the banks, in the face of the fl
nancial stress, would not advance
dollar either on goods or paper of ten
times the amount requested. The
banks here, it is said, are not in the
least troubled over the assignment.
Though the firm has obtained money
from some of them they are secured
by mortgages on property worth
four times the sums advanced. On
the elegant home Of Col. Taylor,
which it has been estimated is worth
not less than $4,000, the Farmers
Bank holds a mortgage for $4,000,
and other mortgages in like proper
ton of value to the amount of $685.
900 are held on the distillery proper
ty and manufactured goods. Col.
Taylor has passed through worse re-
verses than this, and yet by his abil-
ity andhindomitable pluck and energy
he succeeded in retrieving his for.
tune, which, in his life, an untoward
fate has four times deprived him of.
Though he has long since passed the
noon tide of his age, he has lost none
of that vigor Of mind and far seeing
sagacity by which he amassed his
wealth and made for himself a repu-
tation as distiller that has practi-
cally no limit to the trade of the
world. His generous hospitality as a
member Of the House and Senate, in
the interests of this city and county
is known to every one, and here, in
the midst of his friends and fellow