The evening world., 1894-08-07
zEIMER & CO. FAIL.
Sixth Avenue Dry-Goods Pirm
Makes an Assignment.
Liabilities Will Reach 500, 900
and Assets About One-HaIf.
Father OF One OF the Members q
Preferred Creditor.

conside ra bic surprise was manifested
in dry-gouds circles to-day when II be-
came known that the big retail firm of
Xeimcr d Co, at 22j and 221 Sixth ave-
nue., had failed. The surprise was made
greater by the fact that the father of
one Of the members of the firm had been
named In the assignment as a preferred
creditor for over $A 1000
At present no one seems to know the
amount Of the failure. but It is estimated
al being pretty close to 100000. The
firm has a large stock of goods OH hand.
but when this Is sold OFF, as II must
be. At ruinous prices, 1t Is not thought
that the amount realized will be suf-
hcient to pay the creditors in full.
Everything at present is In a chaotic
condition.
Tho firm started in business on Sep
TENDER. 1882. and was then supposed to
have large capital. Their prospects
were excellent. and the establishment
was soon classed with the largest on the
avenue. They advertised prominently
through NJ. Heimerdinger, of the Pulitzer
Building, The firm consisted of Albert
g. WcStheimcr, Of 25s West One Hundred
ana Twcnty-cightl sire /; Israel ZeIpcr
ana Jacob IL. Flashner, 10th of 100 East
SCI cnty-nnth street. aud Noel FIELD
stein. who lives al 500 Lexington avenue.
Their rating was set down at 100000.
Israel Hcmer Is a son OF Ssmuel Hei-
mer, q member of the millinery frm of
Ieimcr & fcldstcin Of this city. Samuel
Ieimcr, when the new venture was sug-
gested two years ago. promised to help
his son out by paying the rent OF the
SiNth avenue premises. The latter are
nNInnI hy tho Conan estate hut Mr..
Xcimcr, senior. had a lease of the build
in.. He also supplied the new firm with
most of their millinery goods.
Icmer 4 90. apparently prospered un-
Ill about six months ago when on ac-
count of the business depression they
began to lose money Not only was there
sales began running down, and 1t has
been steadily going from bad to worse.
They also carried "A big stock.
Recently IL was decided that the best
itprs was 10 make an assignment and
Simon schwartz, of this city. was Sc
lcctel to take charge, The general as
ssignment was drawn Up by kurzmaa u
day, and a, O'Clock this morning il was
recorded In the County Clerks Office
The assignment as iIled states that the
firm has a number OF creditors and that
il is absolutely Impossible TO pay them
all off without the appointment of an
assignee and the sale Of the stock.
Neither the names Of the creditors nor
the amount due Is given, Aiteh the sale
OF the stock the assignee IL directed TO
pay the aries OF all employees In full
and then TO pay Samuel Zalmer S34. III 81.
This amour, the assignment states ia
due for rent OF the sixth avenue prem
iSes ana for merchandiS 20 sold TO the
tirT by Zeimer & Felds:ein, for which
due bills were given with interest OH the
amount.
AS soon as the assignment was filed
Mr.. schwartz. accompanied by one OF
the lawyers, Mr. Frankenheimer, rode
up % IL" store and resumed charge. An
being made to-day.
Al the office OF tire lawyers it was
stated that no schedule OF assets and
liabilities had been filed nor would any
thing be definitely known for a few
days, All they did knox was tina. slow
sales and business depression generally
had been responsible for tho failure.