From New Castle News Newcastle PA

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From New Castle News Newcastle PA - recorded. HEAVY FAILURE. Wholesale Hry Goods...
recorded. HEAVY FAILURE. Wholesale Hry Goods I'irjn of Spee.ker IJro«. AAKl|;ns at Cinelnnati. Ci.vcixxATi. June 25.—The crash of John B, Speeker, doing business as Specker Brothers it Co., wholesale drj* goods, 162 to lOfl Elm street, came yesterday aftermMjn. The assignee is Adam A. Kramer. The assets ai-e placed at §750,000 and the liabilities at a lower figure. The iirm is declared to be si)lvent and only temporarily embarrassed. The cause is. as is well known. Mr. .Specker's connection with the Commercial bank and its failure. His credit has, it is .said, been so impaired because of that failure, that he has not been able to get the extension on notes or further credit he desired from eastern ht>uses. The preferences filed amount txi about SluO.OOO, the greater part of w'hich are held here. The claim of the Commercial bank against Specker on checks, notes, and as indorser for Mr. Hellebush, amounts to over S55, 000 . He was indor.ser, it is claimed, for Mr. Hellebush for i?45,000. The firm last year did a business of about $ 2 , 000,000 and gave emph)vment to a>)Out 250 persons. It is one of the oltiest firms in the city and has aivt ays been rated high and Mr. Specker was believed to be i)iie of the coming millionaires of the city. The C'orbett l)i\oree C ase.

Clipped from
  1. The New Castle News,
  2. 25 Jun 1895, Tue,
  3. Page 2

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  • From New Castle News Newcastle PA

    hill51_2000 – 04 Sep 2013

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