The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1883-10-19
SUMMARY OF NOTES.

$2,500,220 50* 81, ,345, 300 13
*of this amount 1878, ,1S7 38 are either on hand
or to be returned to F. Shaw Il Bros. and of which
S141 ,085 40 is W Copeland q CO.'S paper.
All Of the notes represented in the foregoing
exhibit are not in hands of third parties, nor
do they all bear Endorsement of f. Shaw &
Bros. Some of them are held by f. Shaw &
Bros, while others have been used without en-
dofsement of X. Shaw & Bros There are also
some of the same parties notes received from
sales of leather which are outstanding and en-
dorsed by f. Shaw q Bros, not included in
foregoing exhibit.
The assets at the Maine tanneries, as appear
by inventories and by the books kept at each
place, amount to 2,248, ,875.60.
The liabilities at Maine tanneries, as shown
bv the books, amount to $1o0 435 81, of which
80 S4O94 is not to be reckoned, as it is only the
amount due from ST. Shaw & Bros" to ST.
Shaw q Bros. of Vanceboro."
The assets at the New York State tanneries
are incomplete. have delayed closing my re-
port in hopes the requisite details would
be produced to enable me to place their
condition before you as fully as have been
able to do in the case of the Maine tanneres,
The assets and liabilities of the New York
State tanneries as far as ascertained show assets
$131 ,211; liabilities $9,016.62.
The books of "F Shaw & Bros of Vance
boro," show as assets an amount of $692.40S 56;
liabilities of $125 1882.
The inventory of hides, as presented in the
final summing up, was obtained from the Bos-
ton books, where the hide account is kept. This
branch of their business seems to have been
well detailed 1t is possible to trace each lot
into the respective tanneries, and as weekly re-
turns have been made from them of the MUM
ber worked 10, and as the said returns have
been duly recorded in a book kept for the pur-
pose, it can be seen at glance what stage any
particular lot is in. The valuation given is
the cost as shown by invoices The Inventory
of leather at tanneries or in transit, July 49,
1887 is arrived at in the same manner as the
hides, i. e. from the Boston books. The inven-
tory of leather at the store is as it was taken
by themselves prior to the creditors meeting
at their own valuations.
The open accounts receivable on the Boston
books amount 10 $412. $50 So, viz.
Good, STA 92858: doubtful $76, ,653; w. ID.
Shaw account, SIT 144.14; f. Shaw account,
W. j. Battles, 81, ,020 "a; ledger accounts with
firms with whom they have had note dealings,
1886, $3.50.
The real condition of the relations of f.
Shaw & Bros. with the respective firms and in
dividuals with whom they have had dealings
in notes, can only be determined by ascertain
ing amount which shall be paid by each. The
face amount Of the notes given by the respec-
tive promisors to f. Shaw & Bros. for their
own use is $2,696, 1926. The face amount of
notes Endorsed for the promsors, including
trade paper, is $1,282, ,928.0S The indebted
ness of f, Shaw q Bros. to parties of whom
they have borrowed money, and who hold
notes, either for sale or as collateral, amounts
to $lS2, ,22l.23 The amount OF the notes so held
is $267 1928 OF this amount there have
failed $232, ,S12.70, leaving S34 579 63, believed
TO be good. Should this belief prove correct,
there would be due parties holding collateral,
$147 641 60, against which they hold $232 S1270
insolvent paper. If anything more than 63
per cent Is realized out of the insolvent collat-
eral, the excess would be an asset of f. Shaw
q Bros.
In the statement of liabilities 1 have omit
ted the amounts due these parties for cash ad-
van5es, having included the notes they hold
in the amount of the notes held by third