MIDDLETOWN, N. Y., April 24.--News of the financial embarrassment of Wynkoop Kiersted, head of the late importing firm of W. Kiersted & Co., causes extreme surprise in business circles throughout the tanning region of Southern New-York. For 35 years, up to a recent date, when the bark in the neighboring forests gave out, the firm carried on at Mongaup Valley one of the largest tanneries in the State. Among the firm's possessions was a village of dwellings occupied by its employes and thousands of acres of bark-producing forest lands. The New-York representative of the firm was Thorn, Watson & Co., of the "Swamp."
    The senior member of the firm was for many years Postmaster of the town and an active figure in State and national politics. When the tannery was closed and be retired from active business in 1880 his fortune was estimated at $500,000. Now the public is surprised to find recorded in the County Clerk's office of Sullivan County instruments transferring the bulk of his large property, real and personal, to his son, W. Kiersted, Jr., and his son-in-law, J. F. Calbreath. Since the transfer, a number of judgments in favor of general creditors have been entered up against him, and proceedings have been commenced to set aside the conveyances to his relatives as fraudulent and void. The extent of his indebtedness is unknown, but is believed to be large. Many creditors who are unsecured have refrained from taking any legal steps to collect their claims, reposing full faith in the integrity of the debtor and believing that his embarrassments are only of a temporary nature. It is currently reported that his financial troubles are mainly due to unfortunate ventures in Wall-street.

Source:

Unknown, "Mr. Kiersted's Financial Troubles," The New York Times, New York, Monday, 25 April 1887, p. 1.

    Richard Wynkoop, in the 1904 edition of the Wynkoop Genealogy in the United States of America, has this to say about his family on page 94:

    351. Cornelia Wynkoop, (Tobias 141, Tobias 40, Evert 4, Cornelius 1,) baptized November 7, 1784, "Neeltje," Kaatsbaan church: died January 27, 1860, aged 75: married, January 19, 1811, John Kiersted, born February 24, 1786, died December 3, 1862, aged 76 yrs., 9 mos., son of Christopher and Leah (Du Bois) Kiersted. She was commonly known as Nelly.
    Children of John and Cornelia Kiersted:
603. John Kiersted: b. Feb. 8, 1813: m., Oct. 1, 1850, Maria A. Lockwood, daughter of Thomas S., of Newburgh, N. Y.
604. Wynkoop Kiersted: b. May 18, 1818.
605. James Kiersted: b. Dec. 2, 1821.
606. Tobias Kiersted.

    Chris