Hide Article Text (OCR)
t*r. under tin* last administration.HTWO ATTAt IIM I N I M HFX I RKU.'Kewlnjr Maclitnnc'ornpany II a® TroubleWith a Bank.Nrw York, May 23.—Tim Domestic Sewing Machine cotnfKiny i* in thepat hands of the sheriff under two attach' rH merits secured hr the A-dor Place hankA(r(f and aggregating $26,000. The bank.. officials assert that they were deceived,vMr »ho when the loans were made, by a state-ize ment of the sewing machine company's •ed affairs. This statement, made Januaryird 1J, gave t lie company assets ofhe $2,509,401), against liabilities of uit fOiO.OOo These assets, the hank er asserts, did not not lielong to the sewing ph. machine company, but to a differentth | company. It is also asserted that the red company’s indebtedness was larger. The hank demanded the repayment of the loan and offered to pay back the collateral. but the company declined. The haiiK thereupon declared that, the whole amount of the loan became due at once,n(j although the bills receivable had not l»e-coiiie due by reason of the alleged false ’v- statement. The sheriff put a keeper in I lie ♦ charge of the office of the company, but hie the business went on as usual, he A meeting of the directors was held ion j this afternoon, at the close of which one on ; of the officers stated that the company has abundant assets to meet all liabilities and would contest one of the attachments One gentleman connected with the company said that while some of ist the upsets referred to by the bank may pld not technically lielong to the company, ors they virtually do, as the company own* di | all tho stock of the other corporation, Pre the Domestic Manufacturing company,ml i which holds the assets.iialft! i 4 '• $a«- 'REAL ESTATE FAILURE.
Newspaper Details
Lincoln Semi Weekly State Journal
Lincoln, Nebraska, US
Tue, May 23, 1893
Page 1
Full Page
Clipped by
Anonymous
PA, USA 04 May 2020
Other Publications Near Lincoln, Nebraska
Lincoln Evening Journal
Lincoln Daily Star
Lincoln Daily News
Lincoln Star
Lincoln Nebraska State Journal
