Arizona republican., 1899-02-27
FAILURE OF MAIER
The Bankrupt Butchers Liabilities
 Exceed $IOO,OOO.

The failure of Simon Mafer, the wholesale butcher, has created much surprise in lccal business circles, where he has always been Ta.ed good as gold" rBne conference of Simon Maier, his brother Joseph, his attorney, John T. Jcnes, and the creditors of the con- cern, that was yet in session at the First National bank when the 5 o'clock edition of the Record went to press with the story of the crash that then seemed inevitable, did not clear up matters at all When the Matters and the attorney left the conference the place of business of Simon Maier was found to be n the custody of a deputy sheriff
 While the wholesale meat dealer, with his brother, the brewer, and his attorney, were closeted in the bank an attachment was placed uplon the prop erty of Simon Maier. The attachment was obtained by the Farmers and Mer- chants bank and by Walter L. Vail, who acted for the First National bank
 The claim of the Farmers and Mer- chants bank is for S14,000 and that of MT Vail for the First National $35, 900.
 The total indebtedness of Simon Maier is estimated at about S110,000. The assets, in addition to the real es tate he transferred last week to the California bank, consist of stock in hand, book accounts and bills receiV- Gble-the value of which is problernat- ical The principal creditors are:
 First National bank (W. L.
 VaiD $ 35O 900 California Bank .... ..... =. 32,000 Farmers and Merchants bank. 14,000 Kern County Land company |. 5000 O'NeiI, the cattle dealer. ... 5000 Drafts from other livestock
 Q6dIofS.. Il,UUU Southern Pacific. for freight. 2,30O
 s1o4,3oo
 In addition to this list there are many small claims, some of which are yet to be heard from, that will amount to possibly S10,000 more.
 Even the commercial agencies were taken by surprise and not until last week did they suspect anything wrong. Then it occurred to some people that MT Maier had not for a long time sub mltted a statement of his condition, on which to base a rating. It was sup posed that 4lIe money he had obtained from one bank he had used for paying another bank. Until the transfer of all his real estate to the California bank last Friday his other principal credi- tors, the First National and the Farm CTS and Merchants bank, did not know lie owed that concern anything. The transfer, made to secure the S32, 900 he owed the California bank, brought on the crisis. The unsecured creditors say that Simon Maier had assured them he | owed only about $35, ,000 in all
 Some of the creditors up to the mo- ment, of the attachment was placed on N1aier's property, hoped that all could | get together and agree to have the | business and property turned over to a trustee to be operated as before, but for | their benefit. Brewer Joseph Maier, | ii was understood would put up enough i money to help the matter along, but | there was a hitch and the blow fell.
 The bulk of Simon Maier's property | Is of such a character that it will be | of little value without the business, and | his business must, of necessity, be ac- companied by that portion of the prop erty represented in the slaughter house | and packing houses in East Los An