Music Trade Review

Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE
MUSIC TRADE
REVIEW
FAILURE OF CHAS, A. WESSELL.
Files a Petition on Monday With Liabilities of $18,-
384 and Assets of $15,674.
On Monday Chas. A. Wessell, manufac-
turer of pianos at 222 E. 37th St., filed a
petition in bankruptcy with liabilities of
$18,384 and nominal assets $15,674, consist-
ing of stock, $9,501; machinery, $3,533; ac-
counts, $1,388; cash in bank, $52; and
equity in lease, $1,200. Among the credit-
ors are : Elizabeth Wessell for $3,608; the
Bothner-Schmidt Action Co., Stephen S
Mapes, of New York; Pratt, Read & Co., of
Deep River, Conn., and the Parker, Young
Co., of Lisbon, N. H.
On the same day Judge Holt appointed
Stanley W. Dexter referee, and Mr. Wessell
was cited to appear before him for examina-
tion yesterday morning. Wednesday Theo.
E. Smith, a lawyer of 52 Broadway, was
named as receiver, on the petition of the
Bothner-Schmidt Action Co., one of the
heaviest creditors, and James, Schell & Elkus
selected as the attorneys for Mr. Smith, who
qualified on a $15,000 bond, taking possession
of the property on Thursday. After his ap-
pointment the receiver said to The Review:
"I shall take hold at once, assume charge of
the assets and proceed to wind up Mr. Wes-
sell's affairs for the benefit of the creditors,
under the direction of the Court, of course.
I shall not continue the business, as it appears
there is insufficient capital to do so."
Mr. Wessell's petition is a voluntary act,
and in it he declares: "That he owes debts
which he is unable to pay in full; and that he
is willing to surrender his property for the
benefit of his creditors, excepting such as are
exempt from law."
The failure of Mr. Wessell, regrettable
as it is, has not occasioned surprise, inas-
much as it was known for some time that he
was. somewhat pressed financially. He
made a good piano, but did not have the
capital to market and develop the trade in
a manner to insure him a profit. The Wes-
sell name is a good one, and it is not im-
probable the business will be continued, if
not by Mr. Wessell, by other parties who
may acquire the name.
WHITE-SMITH vs. APOLLO CO.
Testimony to Be Resumed—Case May Not Be Tried
Before the Spring.
In about a fortnight the taking of tes-
timony will be resumed in the test case of the
White-Smith Music Publishing Co. against
the Apollo Co. The witnesses will be called
in rebuttal, as both the prima facie evidence
and that of the defense have been closed by
stipulation. The defendants also have an
inning coming to them, and after that the
suit may be placed on the calendar of the
Circuit Court of the United States for the
southern district of New York. It was or-
iginally agreed that the case would be made
up for the October term, but it is not likely
to be tried before spring, according to the
statements of counsel.
H. A. Moodie, manager of the Everett
Piano Co.'s New York warerooms, is again
at his desk after a visit to a number of trade
points in the South.
FOR THE FALL TRADE
THis Year We Have the Finest,
Largest and Most Elegant StocK of
Heivry F. Miller
PIANOS
We Have Ever Heretofore Shown.
Of Special Interest are
-
-
-
THE NEW LYRIC GRAND
(Smaller than the Baby Grand)
A NEW SMALL VPRIGHT
(Style 29)
The New 77 Colonial Style
(With One Long Panel)
And
a CKoice StocK of
The Renaissance Style 70
In Mahogany, DarK Mahogany,
Walnut and OaK Cases
Piano Company
BOSTON,
MASS.