The morning call., 1895-01-01
MANY LOCAL FIRMS SUFFER.
The Assets Placed at S13, 900 and
the Liabilities at S23, 200.
THE STORY OF. A LARGE DEAL.
An Effort Being Made TO Have the
Creditors Accept 3zI.2 Cents
-. =: on the Dollar. =; s..

=. =
The Redlick Brot hers, who conduct the
=shoestore at 1908 Market street,, have
assigned for the benefit of their: creditors.
The amountof their liabilities are estl-
mated at. $4,000, while the assetS, con-
sistihg solely of the stock and fixtures in
line store amount.to about Sl3, OO0: s..
: Local wholesale. houses are involved to
thezextent OF abont $1,000, the rem aiming
Sr4,OOO. falling upon Eastern firms with the
exception a few outside debts con-
lracted here. -. 81.
i: asst Saturday morning a meeting OF the
principal creditors was held in: the rooms
"of the Board Of Trade at. the. in stance =of
5 MS, Eisner, of Reinstein 81 Eisner, attor-
neyssfor=ihe Redlicks.. Thetrue condition
of tire: firm s financial standing was: made made
known, whch:resulted%i in the. assignment
baing:made 10 HI. Solomon, OF Backing-
han,=: 81 ia echt. !. Mr. Solomon: At ONCE
promiSed*to take ali inventory of the: stock
lin. tthe: Marke-street st0re,: ana :: 10; .ln Q
AFTERNOON reported the result of hisla6ors
=to the creditors who had again assem- Dleae
|, Thezsenior member of the firm also put
in. an a appearance and: was subjected to a
vigorous ATTIC ~ - he accounts, dat-
ling back 0verssperiod % Two We ATS, were
.DTeS6 leu: .6Flu6UCO:~ .PSa'
used, thus :aff0rdfng clearer and: more de-
tailed status upon which to form :.:conclu-
sons. FL =: -: " :. :. ~; =,
.c.*From.t this source the fact was: DEVELOPED
that the. firm has :: been losing moi e a
ever since its establishmen t:..ln= 1891 AT
that time and during g PERIOD OF %mo re
than a y ear .theyenjoyed almost u n.
credit in the East,$their. local dealings Pc
ing confined to a=m-re trfie ,.:< =. ~
i MT: AttI9mpnt.
and: from outward appearance II wonlq
see That Id store was doing an extensive
and profitable bus ness. Orders from cry
houses were gradually augmented and
likewise received: f prompt /: acknowledg-
:ment. 49,: @ " -: -.
B; This condition .#0f "a airs existed until
last August, when it q ppears that the :hrm
took in au extensive stock, which,, all told,
.am0unted*"t0> about $1,000. 1t was not
known at the. time thatz.the transaction
was Din such an: extensive scale, aEth0u
the purchases we're each. :in<excess OF: the
am onn t usually taken by retail firms t
:ODe time. :" = -. =:
II In: addition+to this it has now become
k0own- sthat=.the:@ firm" at that time had
stored away stock of:footwear valued at
$40, 600. which, added 10 the new Invoice.
sweiled the amount:>of goods on=hand to
$a6, 900. Such an. extensive: outlay is sell
dom carried by even the larger tail
firms: and the: fact that: the :Redlick
Brothers managed to handle a larger stock
than their trade would: jusIlfyaEls. severely
criticized by=the creditors, who look upon
the matter@as acme sided proceeding. -. =.
:. 1t appears further that since the date OF
this deal The firm has ceased payment, and
The nnly alternative now left the creditors
is the seizure Of the stock on hand, which
has administrator value from $26,0QO o.
Sl3 600 within three III onths. &: -. " r:
- Rather than. e inter- into legal compiled
lions !. maiOTiIy of. the b0uSss suffering
have agreed to- accept 81 u cents on the
Collar; the terms. offered fpr a com promise.
"a petition to that e fleet was placed#in clr-
uiatIon sterday.:.:. :. + + i :: f..
/. Aside from The boot and shoe concerns
invoived:: the assignors claim. to be in
sdebled to a brother in thepawnshOp hnsi-
ness on#Third street upon a loan. OF. $4,000.
=and to still:anotner brother fOr.saary@ as
clerk in.thes store $1,000. IA: third brothe r
lis also upon the1iist for $1,000, the family
debt thus amounting*to $4,000. !..- . .:..
The outcome ACKNOWLEDGEMENTS as
vet ariddle. Nothing further will be done
lfntilth Easterncreditors are heard from,
though the possibilities are that:a com
promise Of soma sort will be arrived at. =
X The local houses. who are among The
losers are. as follows. Bnckingham:::&
Hecht, 5000 g. N. :Kntz Go, 500;
Freedman 10 Rogers, sos !; Williams Mar
vim Company, $1,000; Nv. III: IN iaif@S CO.,
$3.50: Liebe, .GrenyilEe & Co, $1,000; y &c.
Nolan. &. Co.. $3.50. J.. i: