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rllouron Itli«**ew!njf Muclitm^'ompany 11 an Trouble\V II ll II liHtlk,in New Y*»kk, May U*e DomesticSewing .Malt; In • lt;ornpanv is in theli .min of the ahenft under two attach ' VH merit*. lenind hr tin \ lor Plao* bankr?*- and aggregating $26,000. The bankofficial* assert that they were deceived,th«? when the loans were made, by a state-iize ment of the sewing machine company’s red ! affairs This statement, made January 15, gave the company assets ofi2,509,499, against liabilities of|Uit $610. (MX) These assets, the hank ter asserts, did not not belong to the sewing ‘elt;i. machine company, but to a different itli ! company. It is also asserted that the ml company’s indebtedness was larger. The hank demanded the repayment of the loan and offered to pay hack the collateral. but the company declined. The hank thereupon declared that the whole amount of the loun became due at once,n,l although the bills receivable had not be-1 come due by reason of the alleged false ,v* statement. The sheriff put a keeper in the 4 charge of the office of the Company, hut hie the business went on as usual, the \ meeting of the directors was held ion 1 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 the assets referred to by the bank may ?ld not technically belong to the company.tiallit-orathrv virtually lt;lo, as the company own# dV j allthoitoi k of the other corporation**iv I the Domestic Mannfacturing company, ird i which lioliin the assets.
Newspaper Details
Lincoln Semi Weekly State Journal
Lincoln, Nebraska, US
Tue, May 23, 1893
Page 1
Full Page
Clipped by
Anonymous
PA, USA 07 May 2020
Other Publications Near Lincoln, Nebraska
Lincoln Evening Journal
Lincoln Daily Star
Lincoln Daily News
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Lincoln Nebraska State Journal
