The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1911-10-25
APPLICATION
FOR RECEIVER
Creditors of Ackenhausen & Co.,
Leading Yakima Avenue Jew
elers Apply Monday

Application was made in the su-
perior court about 2:3O p. m. for the
appointment of a receiver for Acken-
hansen and Co, the Yakima avenue
jewelers., the application having been
filed at the request of creditors to the
amount Of about $4,000, against
which there are said to he assets of
only $4,000. the plaintiff being the
Alphonse Judis Co Hearing of the
motion will be set for Oct. 81. There
are twenty-one creditors scattered all
over the country, most of them being
San Francisco manufacturers and job
bers, whose pressing of their accounts
resulted in the filing of the applica-
ton for the appointment of Il re-
ceiver in order to protect all who had
claims against the company. Marion
J.. Mayer is in the city representing
the creditors from Frisco.
The Creditors
The creditors are as follows: Al
phonse Judis Company. Eisenstadt
Manufacturing Company, Joseph l..
Herzog & Co.. Nathan Dohrmann
Company, Schloss- Crocier. Edward b.
Lewis Burr, W. Freer CO.. A. l. Hawn
& Son. all of san Francisco. Moore &
Son. Newark n. j.. Ketcham & Nc
Dougall, New York City; Watson e.
Newell Company, Attlcboro, Mass;
julius H. Brauer, Chicago; \. Whit
naur Company. New York City; Irv-
ing Boam Company, New York City;
Reed &c Barton. New York City; NJ.
A. Mead e Company, Chicago; Deni-
son Manufacturing Company, South
Pennington, Mass; Albert Albrecht,
Newark, New Jersey; Towie Manufac-
turing Company, Ncwburyport, New
York; r. Wallace & Sons Manufac-
turing Company, Wallingford, c.;
Redwing Advertising Company, Red
wing. Mimi.
Affidavit Creditors Attorney
The affidavit of G. e. UdelL one of
the attorneys for the plaintiffs is
quite lengthy and declares rhlt tho
entire stock, fixtures and assets Of
said defendants do not exceed iU yal-
ue the sum of 2,000, and adds that
the partnership, consisting of Fred
Ackenhausen and j. p. KcrstnS. also
has assets outside the retail business,
consisting of real estate located I'm
Yakima county, the value Of which
does not exceed $4,000, it having been
decided to one of the local banks in
place of a mortgage to secure an in
debtedness of the defendants in the
sum of $1,000 SO, according to
the affidavit, the total assets do not
aggregate more than $4,000. The
affidavit adds that the defendants are
indebted to various parties, firms and
corporations throughout the United
States in a sum exceeding $4,000.
Hopelcssly InsoIycnt
In the opinion OF the attiiant, the
individual partners composing the
firm are hopeessly insolvent and UNI
able to pay their just debts as they
become due in the course Of business;
that the past Indebtedness against the
co-parlers exceeds the sum of $50
OO0, that there are now three actions
pending against the defendants in tho
superior court; that creditors of said
partnership in the amount of $4,000
are about to bring actions at law
against the partnership; that the Sc
curing of judgments upon this in
debtedness will be a useless fOrmalitN;
that the business of said defendants
as conducted at the present time is
conducted at u loss. and has been SO
conducted since its beginning.
1t is declared in the affidavit that
the defendant partnership has here
tofore temporarily settled large
amount of past due Indebtedness by
executing promissory notes and near
" all OF these notes are past due
and there is a large amount of con-
stantly accruing interest At times,
it is stated. the business has not taken
in sufficient money to pay the rent on
the rooms in which the same is con-
Quoted.
Partners at Enmity
1t is alleged that the partners are
at cnmity with each other. one of
them, J. p. Kersting having aband-
uned the business, being now engaged
as travelling salesipan. 1t is also
declared the partnership conducted a
reduced price sale, using the proceeds
in settling interest due, but not in
the reduction of any of the general in
debtedness of the firm, and that the
ueIeHudIllS are HOW ulSDpSlnB OF lntlf
assets at reduced prices and will con
tinue to do so greatly to the detri-
ment of all the creditors, and of all
interested.
Business Ovcrdone
The affidavit declares that the jew
elry business in North Yakima is
greatly overdone, and that the defend
ants will not be able to liludate their
Indebtedness through reduced price
sales because of other ieweiry firms
also conducting such sales here. The
said partnership business has been
heretofore grossly mismHnaged and
unnecessary amounts of money have
been spent injudiciouslS in advertising
and installing fixtures in the business
that are wholly incommensurate with
its needs 1t is declared that to con-
tinue the business longer will result
in depicting the assets of the defend
ants.