Show guf LIN CONC FAILS FOR NIP I 1 1 I THIRTY RETAIL D DRY RY goidl STORES WILL G GO 1 INTO N to THE HANDS OF RECEIVERS 8 shifting of trade cent center r in york and inability to finance ne RJ tall stores compels chain of stores to close new kew york ahe biggest t keren gerej tile failure in III tile the it history of 0 the unit ed states was reported thursday day when receivers were appointed appoint e d tit ho IL II B Claf lill CUM company pany of this cit a 0 the company it is V estimated y 0 gwei more than W which litch at thi th present time it Is unable to pay hi 14 basseth bassets are sald said to be john claflin head of the company a and nd its chief individual i stockholder Is tile tho owner of a chain of et nea aly thirty dry goods 1 enterprises through gli out tile the country which are involved in the failure receivers tor for se several verill of these were lia named nied and similar ac tion alon it was announced would b taken in tile the case of tile the rest theli their busil business leis will be continued under rs r ce cheivers cel ivers vers management until tile the ana elnan caal affairs have been adjusted from to hanks banks in ka al parts of the united states cout pose the bulk bulks of the claflin creditors thel the hold notes aggregating tile the major part of the liabilities these rioter are said to have been issued bytha by ahr various claflen stores indorsed endorsed Indor sed by ri H D B claflin company and the proceeds edi used when discounted in ili their needs according to mr claflin the tallian was due to the unprecedented shift ing of trade centers lit in new yort city which compelled the conterato con concern cerato ti rely mainly upon its retail stores li other cities for its profits their rapidly extending business he said occasioned large capital capita requirements which we have not beai able to meet |