A.J. Marsh in tobacconist case

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A.J. Marsh in tobacconist case - F.l. V. B. UEIGliELL, The Tobaccqiifet, Assigns...
F.l. V. B. UEIGliELL, The Tobaccqiifet, Assigns Iaportaat Decisions By the Circuit Circuit Court. , Faaily Troubles Judgments and Other Court Batters of Gen- Gen- . era! Interest An assignment was made yesterday that was caused by a peculiar set of circumstances. The assignor was M. V. B. Weixbcll. tbe tobacco tobacco dealer, at tbe northeast corner of Lo'.ig-wortli Lo'.ig-wortli Lo'.ig-wortli and Elm streets. Tbe assignee is A. J. Marsh, tbe attorney. . It wa learned tbat for several years Mr. Weighell has been doing business at a loss. Years ago be invested largely in real estate in Clifton. lie held It and improved it. making a subdivision In Clifton. The most valuable portion of this real estate bas been unproductive. unproductive. In making the subdivision spoken of he bad to mortgage the property. Besides this be got money In the same way to pay taxes and bis living expenses, his business not being profitable. The amount ot this mortgage mortgage debt is S50.OJ0. and tbe Interest on It was so great that he could not longer carry it. Fearing, under the present business depression, depression, that he might not be able to pay bis creditors if he continued to hold the property, property, be thought best for all concerned to make an asrigniuent. Tlie failure was not a forced one, as there are no suits against hiui and none threatened. Tbe creditors arc all amply secured by mortgage mortgage on tbe real estate, which consists of 17 lots in Clifton and the property at Longwortb and Elm streets, where the assignor's store l. The assignee said he expected that it would only bo necessary to sell the Clifton property to pay all tbe debts, and thus leave Mr. Weighcll with the Longworth street property free. Thus a surplus would be left for 51 r. Welghell. The assets arc valued at SI'Jj.OoO and the liabilities Sjo.000. - i As has been mentioned, all the creditors are secured by mortgage. Besides those mortgages mortgages filed long ago. one for $17.tioo was filed yesterday in favor of the Fifth National Bank. Another was given to John II. Early for $3,000.

Clipped from
  1. The Cincinnati Enquirer,
  2. 08 Jun 1894, Fri,
  3. Page 8

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  • A.J. Marsh in tobacconist case

    aprille – 09 Apr 2013

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