Show AUERBACH DO co BUYS WALKERS I 0 0 I II I BIO BID TRAN TRANSFERS All fiLL AS ASSETS ETS OF r rI PIONEER ST RE Officials Announce Purchase After Confirmation by District Court REAL ESTATE EXCLUDED Disposal of Merchandise Undetermined Undetermined Undetermined Un Un- determined Executive Says Purchase of or the merchandise ac accounts accounts accounts ac- ac counts notes receivable furniture and fixtures of or the Walker Valker Dry Goods company by the Auerbach company was as announced Friday by Herbert S. S Auerbach president and andi andiFred Fred S. S Auerbach vice Ice president and secretary I The purchase was made Thursday afternoon in Third district court by Harley W. W Gustin local attorney i when bids were received for the stores store's assets before Judge David id W. W Moffat The sal sale was a. continued Fri Friday day In the name of the Au Auerbach company Auerbach officials said the purchase purchase purchase pur pur- chase Includes high quality merchandise dise with a retail value of or approximately approximately approximately and composed of mens men's women and childrens children's apparel shoes slices hosiery underwear toilet goods drugs silks dry goods draperies draperies draperies dra dra- curtains Jewelry handbags leather goods silverware neckwear and many other lines POLICY UNDETERMINED The Auerbach company has built builta a success oit ort the policy polley of oC selling high quality and stylish merchandise at mod moderate rate prices and it is our Intention intention intention tion to follow this policy Herbert Auerbach said The manner of disposal of oC the merchandise mer mer- chandise fixtures and furniture is still undetermined Mr Auerbach I Isaid said and this will ill be announced Inthe in inthe I Ithe the near future as soon Eoon as details I arc are worked out The Auerbach company regrets the passing of oC the pioneer Continued d on or Pas Pace Two To o BIO BID TRANSFERS ALL ILL ASSETS DF OF PIONEER STORE STURE Continued from PAn One Uon tion Mr fr Auerbach said and it Is a great loss to Salt Lake and Utah The Auerbach company is Ls one of the oldest department stores in the country having been n established in 1864 and Is on one of the few which has hns remained in Ia the ownership of the family by which it was WM originally founded EXCLUDES REAL ESTATE was founded b by three brothers brothe Frederick Samuel Samue and Theodore Auerbach in 1864 in a small building on Main street Just south Juth of First South street which was Ies leased ed from Brigham Young Progressive steps took the company cornS com com- S any pany to the large building where ItIs it itIs 1 Is now located at the southwest corner corner corner cor- cor cor cor- ner of Broadway and State street Into which it moved in November 1923 The purchase by the Auerbach company does not include interest In Inthe the real estate located at Broadway and Main street upon which a foreclosure foreclosure foreclosure fore fore- closure action has been taken by the Metropolitan Life Insurance company company com corn pany to which the store in Indebted for The real property is s scheduled to be sold at a a sheriffs sheriff's sale on July 13 James W. W Collins of the Tracy Loan and Trust company receivers for the Walker Valker company expressed ed thorough satisfaction in the sale of the assets of the bankrupt concern There has been no property under recel e receivership that has created such spirited bidding as this Mr Collins said Mid and we are happy that a a. local concern made the purchase |