New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-12
JOHN MCLAVE d SONS FAIL.
INABILITY TO SELL BICYCLES AT PROF
TABLE PRICES.
THE EX-PoLIcE COMMISSIONER STILL IN THE
LUMBER BUsINEss-HIs CREDITORS IN THAT
TRADE TO DECIDE THE QUESTION
OF ANOTHER ASSIGNMENT.

TRADE TO DECIDE THE QUESTION
OF ANOTHER ASSIGNMENT.
John McClave & Sons. manufacturers OF bicycles
at No 602 West Twenty seconl-st.. with salesrooms
AT No. 81 Ffth-ave.. made assignment yesterday
to William Harrison. lawyer. Of No. 50 William-st..
without preference. The partners John McClave.
ex-Poice Commissioner. and his three sons.
Stephen Wood. John. ir.. and Albert. The bicycle
business started in April. 1925. Mr. McClave fur
nshing the capital. and 1t is said that he has in
vested altogether about Oco0 in the venture. lie
drawn into this line Of business. it Is said,
through leasing a part Of mis- factory buildings at
Eleventh-ave. and Twenty-second-st TO the late
Meyers concern. Considerable new machinery was
added TO the plant Of that concern by the McCaves
and they had facilities for large output The ven
ture was A new one for all concerned. the senior
McClave having always been in the lumber business,
and his sons acting as clerks there for him. They
made the Colonial wheel. Prices have been cut
greatly for months. and they were forced TO
sell wheels which cost it IS said. s5 to make at $40
less in quantities. large number Of these wheels
were sold by a Sixih-ave. department store.
Mr. McClave il still in the lumber business at
Eleventh-ave. and Twenty-second-st., and has not
made "A assignment Of that business, but Will await
the wishes Of his creditors in that line as 10 what
action he should take. "Bradstreet's" reports say
that he has been in the lumber business on his own
account since 49, and had previously been Of the
firms Of John McClave & Co.. of this city. and Stephen
McClave Of Grand Rapids, Mich. both Of which dis
solved in the spring OF 1876 He formerly did
large business. and five years ago claimed to be
worth more than $4,000 OF which $4,000 was In the
factory building in Eeventh-ave., extending from
Twenty-frst to Twenty-second ST, and machinery.
The building is on leased land Mortgages were
given yesterday by Mr.. McClave on this building to-
Hannah McClave for $3.50 and 10 Albert W Nc
Clave for s5,5l3 Mr.. McClave owned his house at
No l2i West Seventy but transferred II
yesterday to Charlotte l.. McClave for 81. He mort
gagged it in January last to the New-York Life In
surance Company for 5000. payable in gold
stephen Wood McClave made an individual as
sgnment yesterday TO Mr.. Harrison, as he mad
heavily Endorsed paper for his father in the lum-
Der business. He lives at Cfside, \. j. The
other sens. 1t is said nothing outside Of the
bicycle business.
Edward NJ Shepard. Of Parsons. Shepard
Ogden attorney for the McClaves. said yester-
day that Mr.. McClave last spring invested very
largely in the bicycle business. 1t was this that
had brought about the present embarrassment
in my opinion" continued Mr. Shepard, IF the
assets can be disposed of at their cost Mr. Nc
Claye will be able 10 pay his creditors In full. II
the as sets are sacrificed ! think there Will be
large loss. Mr.. McClave has made no assignment
lumber merchant, but ms IuimD'r cIs'''o ~
and all his individual creditors Will AZ once De
called together so that they may deciue WmT'nel
they desire that he should MAKE an ihdlNIHuaI a. :.
signment. He will be governed by their wishes.
Mr. Shepard. when asked regarding the amount
Mr.. McClave had put in the bicycle business, saLo
he did not know the precise amount. but thought
not far from tl'nPN. lie also stlu tHdt ne
could not tell the liabilities Of the nrm he
thought they might be- much a. $4,000 but
preferred TO give estimate. Statements are be
ing prepared The assets consist OF bicycles, ma
tcrials and accounts
Inability TO sell bicycles was the cause OF the
assignment Tho assignee can now take reason
able time 10 sell them. whereas. II SOLD out al
Sheriff. sale. they would not fetch nearly as much
The sons of the senior partner are not IN the
lumber business. that being John McClayes IN
dlvdual business His lumber trade has felt the
eract of harI times Speaking Of Mr.. McCave's
individual assets Mr.. Shepard said that he owns
the factory property at Eleventh-ave. and twenty
second-st. which is leasehod and Is heavily
mortgaged s. Wood McClave made an Individual
assignment because he had indOrsed paper very
largely for his father. Whereas the other sons,
Mr. Shepard said owed nothing outside OF the
bicycle business.
Tohn McClave held the Office Of Police Commits
sorer for ten years and was in his second term
when he resigned in the summer of 1884 A. the
time Of his resignation his health was believed 70
have been badly shattered by the charges when
had been made against him before the LeXow com
mif,ee and by his long examination a. Il witness
before the committee. he had been accused ny
his sor -ln-law Gideon Granger, OF receiving brides
for the promotion of some members OF IN" police
force and for the appointment OF other polic, men
on the witness stand he denied the charges ana
denounced Granger as a fOrger and thet tie
suffered from nervous prostraiion Tor several
months. but recently he had apparently reSained
his health.