Spiegel & Co.
Life Span: 1886-TBD
Location: 249-251 State Street
Architects: TBD
Chicago Tribune, March 28, 1886
A MAGNIFICENT FURNITURE HOUSE ON STATE STREET.
Spiegel & Co., one of the oldest and best-known furniture houses in the city, have recently occupied their new and elegant six-story and basement building at Nos. 249 and 251 State street. A visit to the establishment will disclose the fact that the large building is filled with an entire new stock of goods of all grades and prices, from the plainest and most durable up to the most elegant and costly. The firm hits the exclusive Western agency for Geldowsky’s celebrated chamber sets, which furniture experts acknowledge to be the finest in the world. Speaking of the stock in general terms, it can be truthfully said that it is the finest west of New York. and for that matter is just as good as any in that city. It can be demonstrated that the stock is In reality the choicest ever shown in Chicago, with prices that are absolutely guaranteed to be the lowest in the city. The firm also has a special department for order work, where skillful artisans are always employed, and where the most intricate designs can be executed in the best style of the furniture-workers’ art. The idea that this firm only handles the most expensive goods is a mistaken one, for any class of purchasers can be suited on that all-important question of cost. Passenger elevators connect the different floors of the building, so if you wish to visit a magnificent furniture emporium where you can inspect all the various styles and grades of furniture you should call on Spiegel Co. in their new quarters..
Inter Ocean, September 15, 1892
The sheriff took possession yesterday of the furniture store of Spiegel & Co., at No. 249 State street executions aggregating over $100,000. The firm is one of the oldest in Chicago and is composed of Joseph Spiegel, Alexander Bergman and and Albert Lebenstein.
The first indication of the failure yesterday was evidenced in the Superior Court when the firm confessed judgment in favor of the following parties for the amounts given: Lena Liebensiein, $19,957.87 Fannie Cole, $2,645.67; Theresa Liebenstein, $5,207.30; Dora Liebenstein, $8,361.41; Herman Schaffner & Co.; $39,613; Elia Fox, $4,146.67; J M. Greenebaum’s Sons. $2,440; William Phillipson, $3.007.60; Levi Fox, $5, (7a 50; Charles Liebenstein. $767.66, and the Phillipson Decorative Company for $3,562 87. The judgments are based on promisary notes executed Sept. 13, 1892, and payable on demand. Executions were immediately taken out aud the sheriff made a levy on the entire stock.
Attorney Isaac Mayer, whose firm represent Spiegel & Co., made the following statement concerning the failure:
- The firm was originally organized in Chicago in 1865. comprising Joseph Spiegel sod Henry Liebenstein. The firm lost all their property in the great fire of 1871. Shortly thereafter they resumed business with Spiegel at the held of the firm and Joseph Liebenstein as successor to Henry Liebenstein. This new firm continued in business until 1883, when Joseph Liebenstein died ana his son Albert succeeded him. In 1890 Alexander Bergman was admitted to the firm, and by these parties the business has been continued up to the present time.
During the last two years the business of firm has been dull and especially so the present season. Owing to a decline in business the firm has made comparatively, small purchases, so that at present its merchandise liability will not exceed $35,000 or $40,000. That amount is owing to parties throughout the United Statea and in small amounts not exceeding $3,000.
Mr. Joseph Spiegel has been well known in Chicago for twenty-seven years, both socially and in the business world. He has been prominently identified with nearly every charitable organization in the city. The judgments entered against the firm are with few exceptions in favor of poor people who have intrusted their all to the firm’s keeping. So as to make no distinction between those parties it was arranged that ail judgments should be entered at once and a levy made upon all the assets, thereby providing for an equal distribution among the judgment creditors.
Concerning the financial condition of the firm, Mr. Mayer said the liabilities will not exceed $150,000. The assets, he thought, were worth about $200,000. It was the intention of the firm to resume business with the assistance of the creditors, and an arrangement to that effect will be made if possible. The parties securing the judgments comprise over two-thirds of the creditors.
Mr. Spiegel stated that his firm hod been in business on State street for over six years. When they first rented the premises the lease called for $9,000 annual rental. It was gradually raised, until in anticipation of the World’s Fair, the rental was fixed at $17,500 a year. This heavy expense, he said, added to tha destruction of the business.
Chicago Tribune, January 10, 1893
The Spiegel’s House Furnishing company, at Chicago; capital stock, $50,000; for the manufacture of merchandise; incorporators, Joseph B. Langworthy. Hamilton Schuyler, and Alfred S. Austrian.
Chicago Tribune, February 22, 1906
Spiegel-May-Stern company. Chicago; capital. $100,000; mercantile: incorporators, Francis E. Matthews, Elmer Schlesinger. Carey N. Rhodes.
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