The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-02-04
THE IIEBMANNS SUSPEND.
CREDITORS CLOSE THE DooRs OF a
BIG BROOKLTN HOUSE

~ - sn,s the Asset. Esssea the ri.bt,t,,.s
sy 100000, asd that Husissss Msy be
Hesused Causes or the suspensios.
The closing Of the big dry goods store Of
liebmann Brothers Company on upper Full
ton street In Brooklyn during the rush hours
yesterday afternoon caused a sensation in
business circles in that city. and was a com.
plete surprise to the 300 or 400 employees and
the army Of shoppers In the store. The COM
pany. however. has been in financial straits
for some time.
Horwits Hersh6eld. lawyers Of this city.
obtained batch OF attachments against the
company for portion Of the claims Of their
clients. being the amounts now due. They
said yesterday that they represented claims
aHgregatinR $4,000. OF this amount they
obtained attachments on the following past
due claims: NJ. Beeber 4 Co. $500; J. G.
Hacker. f3,4ol; Elnstein Wolf & Co, S3.59j:
Julius Stein 4 Co. 81 PCS: Louis Gtaner 4
20. t2,59ot schiele & Co. 81, 2j1; Martin 4
Lipser. Sl.731: d. +. sicher L Co. S3.452.
The company is New Jersey corporation.
The attachments were granted, It is said. at
O'Clock yesterday morning. Lites pendentes
were also filed against the real estate belong
ing to the concern. Horwitz h Hershfeld said
their clients did not care 70 take any more
chances, because the company had been in
corporated in another State. The Messrs.
Lehman owned the Universal building In
washington and Hillary streets. They put up
one;story building which they occupied for
while as an annex OF their other store. IL was
expected that the [ nited states Government
would locate the Post ONCE there. but it did
b ood oes 5 ;s went sway from the neiEhhor,
street The Universal 10 now unoccu pied, and
this has proved white elephant for the tleb-
fused s275, oUo for the pfo prop 'A'' '"e' ~
samuel Slim, Il was said. obtained an attach
fhs sttoFnsys hoped S' tBat at %.etinS Of
creditors some kind OF q settl ement could be
made whereby the business could be resumed
Bradstreet's reports say that tho business
Tss established many years ago BY Frederick
Herman. became partners in 1872 under the
style OF T. Loeser Go. That firm dissolved
under the styl lie OF fie6mSnn brothers { Ow.
,hhss u ar, oTinSs withdrew 10 May. 1891. and
style Of Liebmann BrotRsrs The OI busin e.
vas Incorporated on Aug. ~. 1888, under New
Jersey laws. under the style Of I.iehmann
sG000G6 Of which 500 900 is preferred STOCK
and 100000 common stock. The statement
showed sssats sds5oUd laSiiiie. ssi1 oT
The stock OF MERCHANDISE was valued then at
and Herman Liebmann Treasurer.
pnlthtiep papers were given, yesterday to sherif
Clerk sedgwicE. who at once Proceeded to The The
store. explained the situation to the Lehman
Brothers. and took possession. All business
was at once stopped and the doors closed. AZ
soon as the employees and customers had
taken their departure the doors were locked.
The clerks were all assured that they would be
paid In full at the earliest possible moment
thursday is the regular pay day. The hard
times. the strinRency In the m oney market the
general depression In business, and tho failure
to collect outstanding debts are assigned as
the cause OF the trouble. majority Of the
mann brothers. Last week the brothers trans
ferred the Washington street property to the
company for q nominal consideration. Al
though the company had q large general bust
ness. the profits were not large. owing to the
severe competition with other large firms in
Charles Putzel OF 40 Nassau street, this
city the attorney for the company. said yes
terday that the stock on hand was worth
S4OO.OOO. and that the total assets would
amount to SGOO. 900. while the liza bilitles would
not exceed $500. Oou The firm. he said found
ftors owing to the stringency In the money
market and the impossItility OF renewing
their notes. An effort would be made to lit |
the attachments and mako some arrange |
ments with the creditors by which business
might be resumed.
The Lisbmann brothers have been prom !
inent in a social way in Brooklyn. and their |
patty.
a meeting OF the creditors has been called
Frederick sthwart. dealer in furniture at
Atlantic and AlAbama avenues. BROOKLYN. has
Ing preferences for 1000 The business has |
been established many years, and a few
months ago he claimed assets OF ST.. 600. liza
hilities $40. 0OO. He also owned two houses In
Alabams avenue valued at $4,000