The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-02
TRUSTEES ARE APPOINTED
POWER TO WINDAUP THE AT
FAIRS OF THE FIRM.
AN ,NqENToRY BEING TAKEN
The Assets and Liabilities Are as 'e'
Unknown Creditors Preferred
to the Amount of $4,000
An Old Firm.

with regret that the BUSINESS VI W. -
r. r. s. Tucker Il Co., the largest dry
goods house in the State, is in the
hands of trustees for settlement.
The co-partnership heretofore existing
between Nessrs. James Boylan, Theo
W Dobbin and William Boylan, under
the firm name of w. H. & r. s. Tucker
e. Co. has been dissolved by mutual
consent, and on account OF the mashA
tude of the business it was deemed pest
IN turn everything over to disinterested
parties with power to wind UP the pusi-
ness by selling the stock, paying the
debts and distributing the surplus among
the partners. With this object in vie"
the firm yesterday filed III the cur
house a deed of trust to Ernest hay
rooa William B. Snow and William X.
Tucker with power to wind UP said pusi-
ness. Neither member has reserved any
homestead or exemption out of the hrm
assets.
The debts preferred amount to s31,3l6
and are as follows:
First-Nrs. Florence p. Tucker, for
the rent 500; clerk hire, $500; gas,
electric light and water bills, $50; Robert
T. Gray and Ernest Haywood, attor-
neys, $500.
SecondEDebts for borrowed money as
follows: II. s. Tucker, estate, $3.50;
William H. Boylan, guardian, $3.50;
William NJ. Boylan, executor, $2,l64;
Miss Catherine Boylan, estate, $500;
Miss Adelaide Boylan, S1,064; MRS.
James Boylan, $1,55S, and William M.
Boylan, s335.10.
Thiryt-Debts for borrowed money as
follows: Citizens National Bank, $1,000
and Mechanics National Bank of New
York, $500.
Fourth-All other creditors of said firm
pro rata.
the exact amount of assets and liabilities,
but the indications are that the inven-
tory. which is now being taken, will show
assets largely in excess of liabilities.
The business was established in 1913
by Mr.. Ruffin Tucker, the father OF
Col. w. I'll. ii. Tucker, DIR. Joseph
Tucker and Maj. K. S. Tucker. About
the year 1864 w. III. III. Tucker was
received as partner and the firm name
was Ruffin Tucker & Son. In 1866
fuckers Hall was built and in 1867
Mai r. s. Tucker was admitted to the
firm, the style of the firm being changed
to w. III. 4 Il. S. Tucker. Shortly af-
forwards Thaddeus MCGEE was added
to the firm and he was a member until
his death. The firm name then became
W. I'll. & IL. S. Tucker q Go. In 1887
Maj. r. 8. Tucker sold out his entire
interest in the business to Theo. w.
Dobbin, James Boylan, Charles McKim-
mon and George w. Poe. Messrs. Nc
Kim1non and Poe subsequently retired
and Mr.. William Boylan was admitted
to the firm, which at present is COM
posed of rheo. w. Dobbin, James Boy
Ian and William Boylan, under the firm
name of W. Ii. & II. S. Tucker & Co.
although none of the fuckers now have
any interest In the firm. Ever since the
establishment of the house in 1918 it has
always stood one of the leading and
strongest business establishments in the
South.
The house was widely known and It's
trade extended over all the Southern
States, 90 that parties from different
parts OF North Carolina came to Raleigh
to do their trading there and orders by
mail were constantly received from dis
tant States. In fact their trade outside
of Raleigh was almost as large as that
within the city. They gave regular en-
ployment TO more than fifty people, and it
is to be hoped that some arrangement
can be made whereby it's operations can
be resumed.
In order that all the business matters
Of the individual members might be
closed up at the same time, the individual
members of said firm also filed deeds of
trust Mr.. Dobbin named Mr.. Joseph
h. FerraH as trustee; Mr.. James Boylan
named Mr.. w. r. Tucker as trustee, and
Mr.. William Boylan named Mr.. w. b.
Snow as trustee. In these individual
deeds of trust the preferred debts are
mostly those for cash money borrowed,
and after these are paid, all the other
individual creditors come in and share
pro rata.
The cessation of this business, even
temporarily, will be a blow to the busi-
ness fabric Of the entire State and will
be sincerely regretted by all. 1t will be
ten days, as required by the assignment
law. before the store will be opened for !