New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-01-17
BUSINESS FAILU RES.
A BIG CLOTHING FIRM IN CHICAGO
FORCED TO THE WALL
BANKS AND MERCHANTS ~ MANY OTHER CITIES
MAKE ASSIGNMENTS.

BANKS AND MERCHANTS IN MANY OTHER CITIES
MAKE ASSIGNMENTS.
Chicago Jan. l6.-Srrpr,se created In the
Wholesale clothing strict to-day when the o!d
and extensive firm OF Kahn Schoenbrun n Co..
manufacturers ard wholesale dealers in fine CLOTH
ing at ADAMS ard Market SITS. was closed by
the process OF confessions o. judgments, aSgresa.
Ing nearly $1,000. Executions were issued n each
os the SIX confessions. and the Sheriff took pos
SESSION OF The establishment. II IS estimated that
the liabilities OF III. firm WI reach SHoio Inc
largest creditors outside OF local banks which ad-
vancei money notes tide the firm over pad
t.mcs. Newly ork houses. The actual assets
hard to estimate but they are believed 10 pe
more than enough TO meet every dollar OF the ! a.
bltes The firm carried immense stock OF
clothinS and the overstocked condition. combiHed
with inability 20 make collections n time to repay
the bark .oans. caused the failure. The firm STOOD
high among rs New-York creditors and in bank
ing circles here. An effort IS being made 10 tnect
a comprom among the principal ere iitors. VINO
were forced 10 protect Their interests, and arrange
for tie finn 10 resume business The members OF
the firm also owned a retail cothlns-holsc al
STATE and uu.ncy SITS. The members OF the hrm
are Mark and Eel Kahn and Leopold Schoenbruh
Letter a bill Was filed by Mark Kahn against
Felx Kahn. asking for dissolution os the part
nershp sting and the appointment o. recei'e''
The confessions of Judgment hlcl in the circuit
Court in favor OF the Corn Exchange Hank OF
Chicago. for 5000; Importers ana Traders Ma
tional Bank &C. Newly erik. for 5000; National BANK
% The Republic. Chicago. $1,000: \. G. Becker
TO-. $l"C0' and two others for small amounts. Inc
stock OF the firm is valued at $1,000. and the ac-
counts receivable form Il large part OF the assets
II was only recently that the financial CONDITION
OF the firm became such that heavy loans had to
be obtained from the banks judgment notes
which the company expected 10 meet easily from
the accounts due. but the collections were not
made ana the banks would no: renew or extend
the paper.
Abany. Jan l6-Patton & CO.. extensive lumber
dealers. of this city, whose financial emharrass-
men; was noted scme tine ago. to-day hled ior-
nal assignment with the County Clerk OF Albany
County. Frederick ". Cameron. an Albany lawyer
IS namcl as assi-nae. 80 schedule OF assets or
liabilities accompanies the assignment. The mem
bers o. the firm Ilon:y and David II. Patton. also
caused TO be- filed mortgages OIL Their real estate
holdings in This city
Rochester, y y Jan. lG-Cha~les F. Walters
the weil-known jewecr at No u East Main-st
flied a general assignment this morning. Somc
year ago Nh Walters bought out his brothers in
iercs'. giving note Tor $ioJl. The brother went
10 Los Angeles and negotiated The mott. The pres
ent holders have pressed Mr.. Walters for the
money. causing the assignment. The assets WI
net sl7cn liabilities about iae same.
Denison Ten. Jan. rs. q. Holmes. dry goods.
made an Assignment yesterday. Liabilities 5000"
Harr.sonN.lc. Ky. Jan. lG-W. II. Young. banker.
assigned yesterday. Asses -nI liabilities unknown
Frankfort *! Jan. N.-Thc on Juis" DIS
filing Company made an ass gnnclt yesterday to
II. H. Watson. cashier OF the Deposit Bank. Il is
thought TO H. bal break. All the whisky n
bond ia pledged ID banks collateral for loans
indianapolis. Jan 10 Hardin Hldlcy. one % tho
Oldest ani pest known r"s. Tents %. Hendricks
County. president OF ihc Citizens State Bank OF
P.ainnIi. has ma .e an assignment ior The benefit
Of his CREDITOR. Tho Sheriff yesterday levied on The
rou.,tv Of Ia, August Iiausssa Company. furniture
nlanufacilI'l- - satisfy claim u s-,.'.t Assets
.t
imperial Neb Jan. lf-Thc State Bank o. Wau-
rcta an chase comfy. closed its door yesterday.
30 statement - IN" assets AM Liabilities Is gwen.
Kansas chg. Mo. Jan. H. Tho Benedict Paper
Company. DONG business a. No. 81 bclh"atc-rt.
failed here yesterday. Chau"l mortgages were
given on ~ stock ana other property TO IN" Metro
poiltau National Bank ana the Tytus Gardner
pauer and Manufacturing Company. aggf"ga'l1y
ygn0 T. G. Benedict ana r T. Wall ar" th" prln-
ciyal owners OF ih" B'ncdi.t Paper Company