The Chickasaw messenger. (Okolona, Miss.) 1880-1900, 1881-04-14

Mobile Regisier.l
II Is a rare thing for a failure o
any magnitude to occurin Mobile, ant
We are proud 10 say that the very try
ing season through which We hav,
passed has deranged but little th.
steady stream Of our commercial life
We we're, therefore, sorry TO heal
Yesterday, that the house Of Sims
Foster d Co. bad made an assign
mcnt; aud for fear that this event
might be misrepsesented to the eetri
ment OF others, we think It best fol
rs % make some explanation oG the
causes aud character OF the miafor-
tunes Of bis house, 80 long and 20
taYorablyknown to all within The cir.
Gle ot our commercial relations. We
are informed BY those who have the
best opportunity for knowing the
facts, tat this failure. or rather sus.
pension, did not result from speeu-
laiions or from transactions outside
Of the pathways OF legitimate deal
ing, but that It ives simply the result
of slow collections, and too widely
extended line Of obligations depen-
dent upon such collections. We are
assured that the resources Of the arm
are SIMPLE to meet is liabilities, II
they eau be judieiously handled and
that time is ell that Is necessary to
work out this result. As evidence of
these facts, We publish herewith . let.
ter directed by the Presidents OF
some Of our leading institutions to
Peter ola.k, Esq, requesting bin to
at as assignee for the fifm. Ftom
this letter We are glad 70 learn that
the writer's find the assets 50 largely
IN excess OF their liabilities that We
are led to conclude that time is what
is Naute 10 enable said tlrn 10 collect
aud pay od their Indebtedness ia fall "
We don't see how Nc. Stark could
have refused 10 accept a trust offered
IN this way, and We congratulate all
parties ln interest upOh the fact that
his services have been secured. We
know Of no man more capable for
such duty, OF who will command
more general confidence. We hope,
therefore, that no unWise person will
magnify the importance OF this fall
ure, or will exagerate Ice character.
There is no ground whatever for
alarm ; no city IN the country Is more
solvent than Mobile, and our mer-
chants are Ia a condition so sound
that no ono need apprehend any gen
eral disaster:
MoBLE, ALA., April 9Th, 1881.
Mr.. Peter Stark:
Dear Sir-It is the unanimous de
sire Of the undersigned that yon act
IS Assignee fer the firm Of Sims.
Foster & Co. We have looked into
their affairs, and from statement oil
their balance sheet shown to us. we
end tue assets 50 largely IN excess Of
their liabilities that we ars led to
conclude that time is what Is wanted,
to enable said firm to collect and pay
off their Indebtedness in full. We
further request you to appoint Mr..
Fhos. w. Sims, senior partner Of
said firm, your agent, to wind said
business up, as he is fully eonvar-
SAINT With bis business and the iluau
cial condition Of bis debtors. Our
confidence in him Is unshaken, aud
We know Of no person who can more
successfully ami intelligently bring
the affairs of said trm to an issue
that will be satisfactory to ell In IN
terest. Respectfully yours,
A. A. WINSTON,
Pres't Natl Com. Bank.
W. J. HEARTE,
Pfes't stone'll ms. Co.
THos. HEERY,
Pres't Mobile Savings Bank.
W. II Ross,
Pr3s't Facts 4 Trad's' las. Co.
w. H. GARDNER,
Prea't Mobile Mutual Tns. Co.
GEORGE BYRAN,
Pfes't Citizens Mutual Ins. c..
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