The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1914-01-08
NO RECEIVER IS APPOINTED
Proprietor of Main Street Store De-
clares That Business Will Not be In
terrupted and That Financial Claims
Against Him VIII be Settled Up.

What is declared to be an entirely
friendly action to clean up all the
financial obligations of the Main street
store known as Bressler 81 was start
ed in the Federal courts in Chicago on
Monday afternoon when an involuntary
petition in bankruptcy was filed in
which d A. Fishman, the proprietor of
the store, is named as defendant. No
receiver was appointed to take charge
of the stock and it is declared by Ke-
nosha attorneys interested in the case
that no receiver will be named. It is
not the intention Of the petitioners I'M
der the bankruptcy proceedings TO seek
to close up the store or stop the regu-
lar business which has been conducted
by Mr.. Fishman for the past two years.
1T is stated that for more than two
weeks negotiations have been pending
in New York and Chicago to effect a
settlement with the creditors of the
store and it is said that the men in
charge Of these negotiations decided
that the petition in bankruptcy was
necessary to carry out the plan outlin-
ed. Mr.. Fishman declared today that
he had been in the confidence of the
men filing the petition and that he had
been given every assurance that the
transaction would be carried through
the Federal court without closing the
store and without loss to the creditors
Mr.. Fishman came to Kenosha two
years ago and took over the business
of E. A. Bressler. At the time it was
known that there were many obliga-
tions against the stock and Fishman
took charge with a view of paying off
the creditors and continuing the bust
ness With good season this year he
would probable have been out of fnan-
cial trouble, but the trade during the
opening of the winter season had been
a disappointment and he has been
crowded by creditors.
81 estimate that the stock in the
Kenosha business is worth fully $l2,-
000,' said Mr.. Fishman this morning,
and the total of all claims against it
does not exceed $1,000. IT has been
impossible to meet these claims and for
this reason relatives have taken hold
of the matter with a view of making
settlement of the claims. They expect
ed to make the most advantageous set
Element possible, but I feel certain that
all creditors will be fairly dealt with.
/ have personally had a great deal of
trouble in my efforts to keep the bust
ness running properly. Money invested
in merchandise has tied me up so that
am unable to meet some of these OBJ
legations until the goods can be sold. I
am advised by my lawyers that the
and / feel certain that the local credit
ors will be well taken care Of. We are
going to start right now to move the
goods in the store and / am confident
that within short time the case in the
Federal court will be dismissed and the
business returned free of encum-
brance.
The petitioners in the bankruptcy
proceedings are Hiner, Bunch and Lat
timer of Chicago. No amount of claims
is filed with the petition. Several
judgments have been granted against
the defendant in local courts but pro
vision has been made to meet all of
these judgments without the issue Of an
execution.