The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-06-08
ARKELL COMPANIES FAIL.
"JUDGE" AND "FRANK EEsLIE'B"
IN RECEITERS' HANDS.

Liabilities or tho ArEell PublishinE Company
Pat at 81. Co., 900. OF which 100000
IL on Notes and OPen AceOunts-The
RAnEs aud individuals That Arc Creditors.
Tho Arkell Publishing Company, at ITO Fifth
avenue. which publishes Judge, FTdnk Les
lice Illustrated Weekly, and other publications.
and tho Judge Publishing Company. at the
same address, have gone into the hands Of re-
ceiverS on account Of financial diflculties.
Justice Lawrence Of the Supreme Court has ap-
pointed Bartlett Arkell temporary receiver of
the Arkell Publishing Company, with q bond OF
$3.50. 600. and ]. Warren Greone temporary re-
ceiver Of the Judge Publishing Company.
Emanuel Blumonstlol Of Blumenstiol & Hirsch
was appointed referee In both cases, and the
order to show cause why tho companies should
not be dissolved was set down for Sept. 10 at
his office. 400 Broadway. J. 8. L'AmoreauK
was the attorney who made the applications in
both cases, the proceedings being for the volun-
tary dissolution of tho corporations.
The liabilities or. the Arkell Publishing Com
pAny nrs put at 81, 100, 900. Of which $780,.
600 is on mortgage bonds and 5000. 900 is on
notes, open accounts. go. The cash valuation
OF the assets 10 $500. 900. The application for
tho receiver was made by the following dlroc-
tors: William ]. Arkoll, Bartlett Arkell Of
Canajoharie, Alfred Rindskopf, William J.
Merrill, Daniel r. Wing, John A. Schlolchor
Of Albany, George II. Davids, John II. Van Wor.
mer.
The receivership WAS precipitated by the
protest OF n note OF the company for So, 000, duo
on June 3. The company had only 81, 500 cash
on hand TO meet II, and could not realize on Its
assets.
The next day tho directors decided that It
was best for all interests that the company
should be dissolved and a receiver appointed.
William i ArkelI pregident of tho cnmnany.
stated in his petition that the capital stock Of
the company Is 81 200, 900. and that bonds of
$500, 900 have been Issued, secured by a'mort.
gage on all the company's property, some of which
bonds were sold to bona hde purchasers, while
others were pledged to creditors az security for
notes. There are notes outstanding for $457 900
which were discounted by banks and individuals
and were mostly placed through brokers,
many of the holders being unknown. or the
notes $11s,24 fall due this month.
Tho company has endeavored to provide
means to meet itS obligations by selling its
paper In the market and by discountinE through
banks, but has been unable to sell or discount
Its new paper to a sufficient amount to enable 1t
to do so, and has no assets on which 1t can real
izc quickly without great sacrifice. Tho pay
roll of employees is ga, 900 a week and the COM
pany owes the landlord $4,000 for rent. Tho
company is now insolvent. The assets are
very valuable. consisting of various publica;
stopped the value would be very much impaired.
The assets include some lands In Texas. con-
tracts for printing and publishing. franchises.
trade marks, copyrights. Office furniture, 900
5 Grs%;Ds Of c RGp'F insurance. sGsTSyod on PIliss s 81 * Ske j. SS:
kell OF $55. 900; cash. s1,84o; postage stamps.
$500; advertising contracts. notes. ten shares
stock in the National Shoe and Leather Bank,
stocks Of various companies pledged for loans:
pledged to the Western National Bank as col
lateral, and Q, 900 shares pledged to Mrs. B. Gil
OF tho bonds of the Arkell Publishing Com;
pany pledged as collateral 100000 are claimed
ing to it, subject to the pledges the bonds hay
Ing been q loaned BY BY the 3, ;{nSdGe PPG6IishinT Com IN
purpose of being used as sccurity by tho lattcT
bondholders:
AN Brady...... 10000 George west..... 5000
:; {; G joeoS Ss; Tor. $3.50 l yob :; ! t 's.bIs,sS., 1893 1899
Lindenmey Sons. 10000
Cd BO %i,s of ,b the ts s11ng p h Ssn,, been n, d !aoisas:
q Il Par FSS'Tsstst6 I.oooo; MsEeantto National, *$5l:
SSS; T ssS' o5o: + $4,000; N0 Wes's NS,,oS Ma,
$4,000; First National B~allston Spa. $25 1000;
Pequonnock Bank. bridgeport. 5000; Wash
600; Produce Exchange Trust Company. $780,.
900; Knickerbocker Trust Company, $4,000,
and several others.
itors, are Henry Lindenmeyr * Sons. $L76G;
Crooker. Burbank & Co, Fitchburg, Mass,
ssfi 55;;95ssss; H E1Ssi : $ n Hiss.. rs ss:sSt; S%S =. J: x:
kell; $S.44s; R..& O;;Goelets $49a25 Sackett &
%Sl!7!hS5%' b bi~lhGE Il Sd%v SnS nFinNi! =. r. cos%Sp 'SSS::
Oriental Bank, Sl6, 600: First National Bank Of
GGGISS SPST SaG o $1,000; T First Nf RdOp 1 11Sn 6o Of
The capital stock OF tho company is 81 100000,
and among the stockholders arc W. J. Arkell,
H, Walter Webb, $4,000.
The company vas orRanized under the New
Arkell Weekly Company, and Demorest Pub
lT1daI p GSSmnRPalng' and then r 6SouShs Out the ne
3 j. was nS" A tSasA 81 ,6 159s 'ol e iiabiiites' $3.50 q ses.
lies, SsoSS'o6o; Demorost's, 100000; Kennedy
PIblishing Company stock: Sl55 900; open ac-
psny published ypdPe, Judges LiDrarv. Les
ie,s illustrated U,fehiH; and Demorest's Fam
e. &. %Nd igSS. pEs:,d nartlS Ct, Ar a6m ahS 1Sc0 aDS Wa We
liam J. Merrill was Treasurer.
The, Judge Publishing. Company formerly
published Judge and Frank Leste's Ftekly.!and
siderable liabilities outstanding The total
1881, 1888 is due to the Arkcll Publishing com,
pany, and the rest, $93,3l7 is due on notes to
Others r. There are also some CONTINGENT LIABILITIES
Mrs. Frank Leslie on u contract to purchase
1000 shares OF the stock Of the Arkell Publishing
Company. to pay 800, 900 therefor on May !.
1899, and to guarantee . per cent. dlvl-
dends thereon. The assets consist Of stock
OF the Arkell Publishi1g Company, 1924 300
$50; claim against the ArkelI Publishing Com.
pany for bonds, 1904, 900; insurance on life OF
John Kennedy, $4,000; stock OF Kennedy
Publishing Company. $s9, 500. Among the
creditors are the Knickerbocker Trust Com
pRny, $50, 900; Franklin National Bank, SIS,
$50; Ballston National Bank, $4,000. When
the .Jltdge Publishing Company sold out to the
Arkell Publishing Company the consideration
S2o0,OOO in bonds OF tho company.
The receivcrs are TO continue the publications