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Why Packing Plant Lost Money in Fargo
C W Richert, newly elected president of Equity Packing Plant at Fargo, explains why the firm failed. Issues include missing asset lists, mismanaged notes totaling about 65,000, scattered records, and lawsuits. Branch losses at St Paul, Milwaukee, Duluth, and other cities drained funds. total indebtedness around 140,000 against near 2,000,000 in bills receivable. The board seeks to recover assets, convert debts to stock, and reopen the plant, while litigation and foreclosures continue. The piece catalogs branch losses and argues against nationwide expansion.
MENTIONED IN THIS ARTICLE
C. W. Richert
Equity Packing Plant
Fargo
Richert
North Dakota Farm Bureau News
Duluth
Louis Altenbernd
Sabin Main
Bank of North Dakota
Equity Packing Company
Altenbernd
P. M. Casey
J. E. Hendrickson
Pac
Casey
H. J. Walsh
St. Louis Mo
South St. Paul
Milwaukee
Boston
Philadelphia
Chicago
New York
Bank of Monte Carlo Reveec
St. Paul
Mass
Milwaukee House