New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-19
SHOE MEN GO UNDER.
SEVERAL HEAVY FAILURES IN THE
TRADE.
,,,B11Ir1Es OF SAMUEL CoHN & BROTHER RE-
PORTED AT s4oo. Ooo-GoTTsCHALK CoHN.
MARCUS MARsoP AND ARCHIBALD
FLEMING ALSO ASSIGN


Several failures in the shoe trade were an
rounced yesterday the largest being that of
samuel Cohn & Brother. Slxth-ave. and Fiji
,senth-st. and No. 271 Grand-st. with gross la
mites reported at 100000. large part OF which
. contingent; the others being Gottschak Cohn
Individually. who has departments in two dry
eoods stores: Marcus Marsop shoe manufacturer
;, No SO Reade-st.. and Archibald Fleming
r,ghth-ave. and Eighteenth-st.
The failures of the Messrs. Cohn and Mr.. Mar
SOD hinge on each other. Mr.. Marsop being
,rother-in-law of the Messrs. Cohn. Samuel
chin has been in the shoe business for twenty
Eve years starting at No. PSI Grand-st. with a
small capital. He built Up a large trade and
about eleven years ago took in his brother Colts
chalk as a partner. About that time they moved
10 No 21 Grand-st.. having purchased the prop
ery 1t was sa:d for 100000 During their busi-
ness career they purchased considerable real es-
tate on the East Side. In 1856 in addition to their
Grand-st store they opened another at No. SCI
sx.h-ave. which they continued for several
wears They also. until couple of years ago.
had store In Paterson. n j.. and departments
IN several drygoods stores in this city but these
were given up by the firm. few months ago
they took lease Of the building at the south
vest corner OF Sixth-ave. and Fifteenth-st.. at
a rental from January l next of $4,000 a year
far three years ard S32 900 for the succeeding five
wears but were to pay rental until January
/ Mr.. Marsop. it is said. went security on the
lease. This store had previously been occupied
by Zeimer & Co., drygoods dealers. who failed
there
"Bradstreet's" reports of November 16 said that
|, was believed by some that Samuel Cohn &
Brother had undertaken too much expense. and,
according TO their own figures. their condition
then was not as good as it was in February. 1898.
Their Grand-st business had been gradually de-
creasing in volume and profit. and of
Samuel Cohns real estate transactions have not.
It was believed. proved profitable. They had in
the past done large and profitable business. and
paid their local purchases in short time. but of
late have been taking extra time and while they
we're still in good credit with those from whom
mos, Of their supplies came there were others
who were Inclined to be careful
The firm owned real estate al Nos. Sc and SS For
syth-st valued at $4,000, mortgaged for $l9. 900.
and sx-story building at Henry and Market
sts valued al $4,000. mortgaged for $4,000 1t
was positively stated yesterday that they mad
not transferred their real estate. Samuel Conn.
however 1t is said, disposed of all the real estate
individually owned by him for some time.
Samuel Cohn & Brother Yesterday confessed
judgments TO the East Side Bank for sl3S54 for
money loaned: Sallo Cohn s9,934 for money de-
posted with the firm. and Henry Cohn $9.9S4 for
money likewise deposited. making total OF
pa722 The Sheriff closed up the store at No. 2n
Grand-st on these executions.
Horwitz & Hershfeld. attorneys for the Judg-
ment creditors. said that the gross liabilities OF
Samuel Cohn & Brother will probably reach 1900
co. a large part of which is on Endorsements Tor
other persons and includes loans. discounts al
banks and probably 100000 for merchandise.
Tbey had no idea Of the value OF the assets wnich
o1nsst of stock real estate, etc. Their stock In
the store at-ssixth-ave. and Fitteenth-st.. which
cost over 500 900, has been sold TO JORDAN Marsn
Co.. Of Boston. who have taken possession. put
the attorneys did not care to say how mucn the
nurcbase price was but the money received. they
said would go 10 pay the creditors. Horwitz q
Hershfield further said that the failure resulted
from several causes. such as losses on the oiASn
ave store. decreased trade in Grand-st, deprecia-
ton in real estate and losses on account OF othef
parties. The store at Sixth-aVe ana Fli'eehth-s.,
has been a failure from the start; they spent
large amount of money in fixing II up and stock
ing II were under very heavy expenses, ana hdd
10 meet competition all around them ana the
amount of busint SIS done was not enough 10 war
rant the expense. - r.. . ,har
OF Years in the Mechanics and Traders Bank.
but Horwitz & Hershfeld said that ne had re-
eigned some time ago ~. roa
,,ors Yesterday over the failure, and numerous
inquiries made at the Sherin once ies"'u
ing the matter ~ l., co,,uol
Chin a Brother is also in business indivlduaiiy
in his own name. He has shoe departments II,
William VOgel & Sons store. AT broauwas Iva, ,', ",
Bleecker-st and at Barnett Brotners, NoluIious u
ave ard Seyenty-fourth-st. He confessed Juus-
msn,s - Linn q Charles Stitch for sl.ol1 ana 10
julius Herman for sl,Ol' -. ~, @
Marcus Marsop. shoe MANUFACTURE, a. ~ r,
Reade-st. confessed judgments to Mcnae, nan x -;
Miller for sl0194. Berthold liam sl,Vsv, ,sas
Snons 81 2e7 He has been in business sinse io'a,
was Of Marsop e. Schottler up TO 1883, ana slhce
then has been alone. but had no capi,aI 'aes I,n n
Bradstreet's during that time. athough III jul ti
last he claimed to be worth $4,000. to own ms
house and some vacant lots. He has Done !n qui's
large business his goods being sold IL IS saIu ~
S,mueI Cobn e Brother The latter hrni Is aaiu n
10 have ndorsed for him to the extent o, at
W ~ Eiobth-ave corner Of Nineteenth-st mace
an assignment YESTERDAY to James G c. for 81 ss
giving preference to A. j. Ba,es q go a. tor %, many
~ has heen identified with the TRACE Iol nsans
years. was formerly interested In the unioh nnor
Manufacturing Company. and became inc o". "red.
Of the nresent store in 1887. having been "a Gleu
itor OF the previous owner. MI. fieii''"s
10 carry a stock OF slo0Oo
Much.