WAUPACA COUNTY POST

December 29, 1927

 

ASSIGNMENT OF AND. RUMENOFF

 

 

            Andrew Rumenoff, proprietor of the Bee Hive, North Water street variety store, made a voluntary assignment in bankruptcy Monday and the store has been closed this week.  The levying of executions on the store stock by Sheriff J.O. Hanson Saturday to satisfy judgments for approximately $700 secured by three creditors precipitated the assignment.

            The liabilities are listed at between $12,000 and $13,000 with assets of about $9,000 of which $5,400 are claimed exempt.  The exemptions include $5,000 on the residence property on Wyman street, $200 on household goods and $200 on store stock.  However, the Farmers State Bank holds a $6,000 mortgage on the residence which is listed at a $6,500 valuation among the assets.  Jacob Werner holds a chattel mortgage covering stock.

            The Farmers State Bank is the largest creditor.  Others include wholesale houses in Milwaukee, Chicago and St. Paul, Minn., who are understood to be unsecured.  Outstanding bills of the assigner total about $3,300 of which $2,600 are held by the wholesale houses.

            Mr. Rumenoff, who is supervisor from the Fourth ward, has been a resident of New London for a good many years.  After some years connection with the clothing department of the Cristy Store he, with Earl Meiklejohn, founded the Style Shop, exclusive men’s wear store.  Mr. Meiklejohn retired from the firm in 1925 and since that time Mr. Rumenoff has conducted the business alone - New London Press

            Mr. Rumenoff was employed at Cristy’s, Waupaca, several years before his removal to New London.  His many friends in this city will regret to learn of his business failure.