New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-05-19
LOCAL BUSINESS COMPLICATIONS.
C1IATTEL MORTGAGES on THE STOCK OF DErTscH
CO-CLAiMs FILED Ply CREDITORs

CTIATTEI. MORTGAGES OK THE STOCK OF DEtTSCH
& CO-CLAiMs FILED Ply CREDITORS.
Deutsch G. Co.. wholesale and retail dealers in
cloaks al Nos So md Al West Twenty -third-st have
given two chat,ei mortgages aggregating Ss'l4. on
their entire stock and fixtures. one for A2,5A 10 Wal
ZACH Schele and the other for SItp 10 Nathan 81
verstein retired merchant. formerly Of San Fran
cisco. He Is the father-in-law OF Alexander Deu,sch
OF the firm and Mr.. schele Is the father-in-law Of
Simon Deutsch. the other partner. The sale OF the
stock under foreclosure Of these mortgages was ad-
vertised 10 begin yesterday morning. and caused
stir in the trade and among the creditors Horwliz
Hershfeld the attorneys In the matter. said that
Il was not a failure. Il being understood that the
value Of the stock largely IN excess OF the chntte
mortgages. although the mortgages were In posses
sion They admitted that Deutsch Co. had had a
hard time I'm the last year two account OF the
depression in cloak trade. dull business generally
and heavy expenses. They were unable at present TO
give any idea OF the condition cf the firm. From
other sources It learned that Blumensncl
Hirsch had received claims from i've creditors az
gregatng $1,000 10 protect their interests. IL II
rently reported that the liabilities will reach 10000
The principal asset ~ tho stock hand. which Is
pledged to the mortgages and what surplus will be
realized over the amounts OF the mortgages remains
10 be seen. The Messrs. Dcutsch have been IN bus!
ness about twenty years They were formerly In
business In Howard-st., making quilted Innings for
cloak and coats. but In 1886 into the manufact
ure of cloaks at No 2J6 Broadway and buit up A
large trade In 1890 they opened "A retail store at
FiNh-ave and Twenty-second-sL. which con-
tinued time when ,hey sold the lease OF the
premises 1t Is said at profit OF 81 600 They moved
TO the present store. Nos. 80 and a West Twenty
,hlrd-st., on February !. 1895. paying IL IS said
SIS go year rent Bradstreet's reports state that
the wisdom Of this move was doubted by conserva-
tive authorities no; only on account Of the Increase
o. rent. but because Of heavy expenses In nting up
the place. For several years Deutsch 60. have
had no capital rating at Brads;reets. and only the
.owest credit rating. as 1t was generally understood
in the trade that they were heavily Indebted 10 rea-
tiyes for borrowed money.
Judge Andrews gave a decision yesterday that he
would appoint Edith Brown receiver OF the firm Of
Brown d Kahn restaurant, OF No % West Twenty
fourth-st. as she contributed ali the capital. 500.
and will probably be entitled all the surplus after
paying the debts. Fannie Kahn was the other part
ner The firm forme! on January Is. The
bsiness was not as profitable expected. 1t Is
said on account OF the Raines law. and the part
did not care 70 spend So" for a lquor license.
dealers in yellow pine at No. 81 Wallis. AMI Fer
lima, Fla. show total liabilities. NsL2sl o which
there are: Direct. EsSZ5: contingent, Ni5S,7 nomi
nal assets 1851. actual assets. $3.50.
The individual schedules Of Thomas H. Spauldlng.
of No 20 East Twenty -hfth-st, were filed yester-
day. He was OF Spauldng. Jennings Co. steel
manufacturers. OF West Bergen. y. j.. and
manufacturer OF bicycle fittings at Buffalo, y. y.
the schedules show: Liabilities sr i62: nominal as,
fets $4,000: actual assets, N50i2. II is very sell
assets but IN this cas- II is on account OF shares
OF stock the par value Of which Is 800 and the
ket value much greater Among them are 10 shares
OF the Fifth Avenue Bank. nominal 1900. actual
inal $3.50 actual sl35r: 30 shares Harlem Railroad
Company. nominal 1890 actual sSl.GO