The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-21
BLUE TRADING STAMPS STOP.
RECEIVER IN CHARGE AND DOORS
SHUT on CLAMORING WOMEN.

Police Called Out 10 Handle Crowd That
Got stamps Redeemed Up 20 SP. ".
and TriumDhantly Lugged on Furni-
ture mat Merchandise Creditors Want.
petition in bankruptcy was filed yes
terday against the Benedict a MaCfarlane
Company, blue trading stamps, Of i56 West
Twenty-third street and of Chicago by the
following creditors: New York Desk and
Dining Room Furniture Company, $751;;
Hermann Furniture and Plumbers Cabi-
net Works, tS1. and LANCE 4 West t472
1t was alleged that the company is insovent
and admitted in writing on April 10 in a
letter signed by Albert G. Thorne, secre-
tary, its Willingness to be adiudged bank
rupt. Judge Holt Of the United States
District Court appointed Frederick A. Bur
lingame receiver with a bond Of $4,000.
1t was stated in the petition that the
business Of the company partly consists
in the redemption OF trading stamps. large
numbers OF which are outstanding. IL has
a stock Of goods from which the stamps
have been redeemed, and if the redemption
is permitted to continue a large part of the
goods will be disposed Of in favor Of the
stampholders, to the exclusion Of the mer-
chandise creditors, many Of whom fur
nished the goods comprising the stock in
the store at 1850 West Twenty-third street
The lease Of this store runs out on May g.
the goods must be removed before that
date, and the petitioning creditors believe
that 1t will be to their interests 70 have the
goods sold there at auction.
The company was Incorporated under
the laws Of this State on Aug. "a, 1908, with
a capital stock Of $1,000 600. Harry L.
Benedict became president and Francis II
Macfarlane Tce-president. The company
Established agencies in Baltimore, Boston,
Syracuse, Chicago, st. Louis Denver, Mil
waukee, Brooklyn and other cities, and
made contracts with some Of the large
department stores. One Of it's large CON
tracts with a store in this city terminated
a few days ago and the news Of this pre-
cipitated a run on the company's store in
Twenty-third street on Wednesday for the
redemption Of stamps. In the trade IL is
said that the company's income in the
past year has not kept pace with the extra
expenditures made 70 increase its distrib-
uting connections. The liabilities are re-
ported TO be over $40 900.
This IL the second trading stamp com
pany which has been petitioned into bank
ruptcy in this city,
Women we're at the doors OF the Twenty
third street store at daylight yesterday
morning. Before O'Clock they blocked the
sidewalk. When the doors were opened
there was a rush and struggle TO get stamps
redeemed, ana TINS kept up until late in the
afternoon, when the receiver took charge.
Then many worn, tired and disappointed
women went home carrying with them
packages Of trading stamps which they
had been unable 10 redeem.
Two policemen, O'Flaherty and Burr
were called TO the store when the morning
rush made business impossible. They could
do nothing with the crowd on the sidewalk
but Mounted Policeman O'Keefe. stationed
at the corner Of Seventh avenue 70 regulate
traffic, weaved among them with his horse
until they scattered. Then Burr and
OFlaherty got into the store and cleared IL.
After that a line was formed in the street,
and three women were admitted at a time
The lucky ones who got into the store
came out with triumphant faces and all
kinds Of articles. One woman carried a
table on hCr shoulder and dragged a chair
with the Nther hand. Another woman
struggled WI IN a cabinet A little woman
lugged a marble topped table.
About O'Clock an employee OF the store
posted this notice:
This store closed on account Of taking
stock"
Instantly there was cry Of anger from
the disappointed women, followed by a
wild push for the door. The two cops
we're swept aside for an instant Before
they got their bearings the women had
banged against the door smashing the glass,
Two hours later another sign was posted in
the window. 1t said in effect that the store
was in the hands Of the receiver.