The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-28
10 East WASHINGTON street. (E1st. Is7S.]
WHOLESALE GRoCERS ASSIGN.
The Krag-ReynOIds COmpany's Vol
untary Act-ReOrganizat ton.

The Krag- Reynolds Company. wholesale
grocers, at Nos 81 and SO East Maryland
street, yesterday made voluntary assign
ment to Edward L. Mckee. With the deed of
assignment was filed two mortgages-one
for $129 399.9S, to Lafayette Perkins, trustee,
and another for 1920, 229.3S to Frank L.
Sheldon and Lafayette Perkins, as trustees.
TO the assignee is intrusted all the prop
erty, real and personal, belonging to the
firm. This includes the firms establish
ment on East Maryland street. consisting
of stock of wholesale groceries, books,
accounts and bills receivable, together with
real estate in this city and in Grant coun-
~. The first mortgage given to Lafayette
Perkins. trustee. covers all the personal
property of the firm, except the cash on
hand and money in bank. The mortgage is
given to secure notes executed as follows:
One promissory note, executed to the In
diana National Bank, Dec. 81, 1897, for $27,-
361.54; one note, dated Dec p, 1897, to the
Capital National Bank of Indianapolis, for
S25 ,00S.54; note dated Nov. ], TO Harrie n.
dated Dec. 81 to the First National Bank of
Chicago, for $4,000; note dated Nov. l. to
Nicholas McCarty Harrison, for SIS 600; note
dated Dec. 81 to Nicholas McCarty, for
$1,000: note dated Dec. II, to Eppins. Smith
K Weiman, of New York, for $7,023.S5.
The other mortgage is 20 secure notes ex-
ecuted to Frank i. Sheldon and Lafayette
Perkins. trustees, for Sl50,000. together with
other indebtedness. Among the other hold
ers of the firms paper are the following:
Thompson & Taylor Spice Company. ST.
262S7; IL. w. Banks & Co., $4.12O.6S: Wells
Bros, S4,0S5.44; Smith, Brett & Co., $1596.47;
+. lowering & Co., s99717; Royal Baking
Powder Company $90Sl0; American Sugar
Refining Company. 1900: Proctor < Gam
bic Company, $1,lS.35 Winters & Profit
81 ,51763; Lggett & Myers Tobacco Com
pany, $3321.10; Arbuckle Bros. $995.s6: j.
II. Laboree * CO.. $2,594.0S; Southern Cali
fornia Packing Company, $l,274; William
Bayne & Co.. s., 262.94 Franklin Canning
Company $3.723.6l; American Tobacco Com
pany, &c. l5S.2S; ShultZ & Co.. $l,077.20; Wal
lace Bros, SLIGO; T. III. & w. j. Peck,
So 1864
Edward L. Mckee. the assignee. at once
took charge of the stock. IT is understood
the embarrassment of the firm is only tenn
porary. w. w Krag. Il member of the
ply means the reorganization of the con-
Germ. Our move was purely voluntary
one, we were not being pushed and were
able 10 meet all our bills. We have ample
assets 10 lcover everything. Our la
blities will not exceed $350000, while
we have $i0o069 of assets. All our cred
itOrs We're much surprised at our assign
money The fact is. precipitated the
thing ourselves We have been doing a
splendid business, hut felt we were car
rying more borrowed capital than was safe,
and we decided this would be a good time
to get the men who have been loaning us
money interested In the business. We will
endeaVor to reorganiZe at once and go
ahead on the firms capital We expect to
increase our capital stock to $3.50. 900. Pend
ing this reorganization the business will
proceed as usual. All of our travelling men
viii start out again to-day"