New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-14
Issue Call for Creditors to
Meet July "a to Hear
Reports.
SMALL MERCHANTS
LOOK FOR BARGAINS
Will "SWeeten" Goods Bought
Here with Stocks on Hand
the Country Over.

Receivers Of the II. b. Cla0iu Com
pany Yesterday began clearing 'h'
stock Of merchandise on hand ana a
.he same time issued call Tor th'
creditors TO meet at the Park Avenue
Hotel on July "a to hear reports OF th'
condition of the company and ADVISE
with them rs 10 the best course to pur
sue. II is cNpectcd that the creditor
will agree that for the present inc
business should be continued until sucn
time "a the various interests can &c,
together and agree on some plan OF
reorganization or liquidation.
No reorganization plan viii be pre-
scented 20 the creditors. according "a
.he present understanding. because y
is rot expected that there Will be sui
fcienL data in hand from the OUTSIDE
interests Of the company 10 Warran'
such action. The principal informa-
ton that will be given the creditors
will ne the known liabilities. the hook
value Of goods in hand, tho inventory
value as 2 going concern and the lioul
dating value. There will he vide
discrepancy between tho first and sec
ord items and a vet larger discrepancy
between the first and third.
at Yesterdays sale more than hftccn
hundred merchants and their huNeI'
we're in attendance. Nomnallv the sale
is The usual July sale Of the company
a. matter Of Tact. IT Is intended ~
clear up much Of the stock IN band
part cularly stocks that have been so"
moving, and in these prices have bcei.
shaded aprreciably. In some lines o.
standard goods. such -. for example
Fruit Of the Loom muslIns. the SAFE
Price is below that ~ which the same
Goods can be had of the mill factor
The same is true TO an extent IN inc
novelties and in the foreign lines. par
ticU'arly laces.
Sale Promises To BE Successful.
John {. Eamcs, vice-prcsidcnt Of the
Clailin Company. said yesterday after
noon that the sale promised TO be one
Of the most successful IN the history
Of the company. Buyers were present
from Maine 10 California ana from
Texas 10 Michigan. with others on thc
way. lie looked for large turnover
at fair prices.
4 feature Of the sale was the pre-
cnco Of small merchants. who have not
bccn prominent as Clahin customers.
an about week. said one MGR
chan. explaining the presence Of the
IttIc fellows, "look for Ciaflin recc'v-
ere sales from ono end Of tho country
10 the other. The purchase Of small;
lot Of goods here AT bargain prices ana
there are some bargains Is the excuse
for merchants to advertise the sale Of
biz lots Of goods, the Claain goods
bought now being 'swectcncd" by stocks
ON hand. until Sherlock Holmcs him
.olr mould have trouble in finding any
Of ,hc merchandise now being offered
here"
This phase has been taken advantage
of by the receivers, though the recel,v-
ers OF other ClaAln enterprises inc
stores owned by John Claim person
alIv. have been fearful that such sales
in .hcir cities might make trouble FOR
thcm.
The goods in most demand at yester,,
Gay', sale were cottons. muslins ana
These lines were reasonably
complete. but buyers complained that
other lines were broken.