The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1906-09-20
Voluntary Action For Benefit
of Creditors.
II. j. Barber Is Named as Assignee
In Petition Filed This Morn
ing-Heavy Liabilities.
BANKS AND EAST ARE SECURED

y
company filed papers of assignment
this morning, and while the an
nouncement was not a surprise in
financial circles, il will be TO the
general public, as the firm has been
credited with doing a big, successful
business. Its suspension will be felt
in the labor world and retail circles
to some extent, as the company EN-
ployed about az hands, with a good
weekly payroll
The e. Rehkopf saddlery compa-
ny is an incorporated concern, and
succeeded a few years ago the firm
of f. Rehkopf & Sons, one of the
pioneer firms of the city. The first
company was established by Mr.. e.
Rehkopf and manufactured harness,
collars and saddles. In later years
his sons were taken into the bust
ness, but in the Incorporated firm
Mr.. Rehkopf was the principal own
er, with a few outside associates.
The firm had always done a big
business, and its trade extended a.,
over the south and southwest, and
was rated generally as successful.
In the deed of assignment, r. J.
Barber is named as assignee. The
document is brief and gives no
schedule of the assets and liabilities,
simply stating that the firm is no
longer able to pay its debts The as
signee is empowered to sell all the
property Of the firm. and make a
full settlement, If possible.
None of the local banks are to
any degree hit by the failure, as
what'notes Of the firm they hold are
amply secured by good endorse
ments. Mr. George C. Thompson,
president of the American German
National bank, with which the firm
did its banking issued a statement
to the press today that his bank
would not lose a dollar by the as
signment
Friends of Mr.. e. Rehkopf say,
while the failure will affect him to a
degree, he has a good deal of prop
erty interests outside of the firm not
involved in anyway.
The buildings are all owned by the
head of the firm, Mr.. Il. Rehkopf, and
only the business, the stock. debts.
contracts and the machinery, are as
signed. The property of the company
the harness and saddle
shops on Second street between Broad
way and Kentucky avenue and the
in the tannery in Me-
The E. Rehkopf Saddlery compa-
ny was organized about FIVE years
ago with capital stock OF 100000.
The concern has had a number of
and fire caused some loss, |
but about nine months ago the firm
made the statement to Dun's agency
that it had surplus assets of &c.,
900. The surplus assets now are re-
iuced to about $4,000. Usually the |
carried an Indebtedness of
$4,000 to $4,000, with a bank
debt of $4,000 TO $4,000. All the
Indebtedness to banks and the east |
are protected by ample security, and |
President Thompson OF the AmerI-
bank, says the failure
will not affect his institution
penny's worth.
II is understood that the total liza
bilities will exceed 100000 with
assets approximately three-fourths !
The amount.
None of the other Rehkopf inter-
ests, it is said. will be in any way
Affected. e. Rehkopf personally owns
most of the real estate he Is inter-
ested in. and the transfer OF the
Broadway property, where the Of
ice is located. to the Mechanics and
Farmers Savings bank has no con-
lection with the assignment.