The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1897-06-25
THE GLASS BLOCK DOORS TEN.
PORARiLY CLOSED.
Order to Show Cause Why Receiver
Should Not Be Appointed for Lon
gini & ThomS viii Be Heard Tues
day Next. Patterson Mercantile
Co. Is the Petitioner-Lack of Fl.
nancial Backing the Probable Cause
of the Firms Embarras sment.

Late yesterday afternoon the l.. Pat
terson Mercantile Co. applied to Judge
Severance for the appointment of a re-
ceiver for Longini q 'Thoms, owners
and proprietors of the Glass Block.
The court made an order this morning
temporarily closing the Glass Block,
pending the hearing on an order to
show cause why a receiver should not
be appointed. This order is returnable
next Tuesday, June Goth, when the
arguments will be heard, if there are
any to be made The claim of the L..
Patterson Mercantile Co. amounts to
$3.50, and is for groceries sold to Lon
gini & Thoms
The history Of the trouble as given
by one Of the creditors is as follows.
Mr.. LOngini had assured the local
creditors all along that the eastern
creditors Of the firm were his friends
and that they would not trouble him.
On June 4th, Samuel Sternberger, of
Philadelphia, filed a mortgage with
the register of deeds, on the Glass
Block property, given by Longini &
ThOms for Sl2,50O, to secure
notes held by Mr.. Sternberger.
June 18th, the Mankato National
bank filed with the register of deeds
mortgage for $4,000 given by Geo.
w. ThOms and wife on their undiv-
ided one-half interest in the Glass
Block property, and lot one, block six,
Van Brunt's addition. This mort
gage had been given Oct. Sth, 1895.
This precipitated matters, for other
creditors took the ground that if
there were to be preferred creditors
they would protect their interests at
once.
Longini s. Thoms owe the National
Citizens bank Sc, 900 for money borrow
ed in 1895, and the Mankato National
bank $4,000. Last Friday, the
National Citizens bank virtually at
tached the stock in the Glass Block,
pending settlement, and placed
Sheriff Bowen in charge, who con-
tinued in possession until this morn
ing when the doors of the establish
ment were closed.
The records in the register OF deeds
office show that Longini & Thoms
gave first mortgage on the Glass
Block property on May Goth, 1895, to
the Northwestern Mutual Life In
surance Co., for $4,000, and there is
nothing to indicate that this has ever
been paid. The Sternberger mort
gage of S12, 800 is the second mortgage
to be recorded, but the Mankato Ma
tional banks mortgage is the second
in date, it having been given Oct. 9th,
1895, although not recorded until last
week.
Lorin Cray is attorney for the Ma
tional Citizens bank and the L. Pat
terson Mercantile Co.; Pau & Pau
for the Mankato National bank, and
w. L. Comstock and w. S. Hammond,
of St. James, counsel for Longini &
Thoms. Mr.. A. ,Longini, of Chicago,
is in the city to assist in straighten-
ing out the affairs of the firm, if he
can.
Strenuous efforts have been made
for several days 60 effect settlement
whereby the firm could continue in
business, but the prospect does not
seem to be very bright. The cause of
the firms embarrassment seems to be
lack Of capital. Considering the
magnitude Of the business, neither
member Of the firm had as much
capital to put into it as the circum-
stances would seem to have required,
and the condition of the times has
limited credit.
There is rumOr this afternoon that
the firm is considering the matter of
making an assignment.
No name has yet been mentioned in
connection with the proposed receiver
ship,