Morning journal and courier., 1889-07-31
ANOTHER BIG FAILURE.

A Noted Boot and Shoe House Goes
 Under With Liabilities of S1,25o,OOO ! some or the Causes TherefoY-A l shoe Manufacturing Concern Also l Assigns.
 BOSTON, July 30.-The liabilities of E, &
 A. u. Bstcheller & Co.,, one of the largest
 boot and shoe houses in Boston, who assigned to-day, are estimated by Mr. Batcheller to be $l'soo,o0O, with nominal assets to like amount. The failure creates great surprise. The firm was rated in Bradstreet's ssG. A."
 The leather trade will not suffer, az the firm
 pald cash for goods. The assignees are Thos.
 E. Proctor of Boston and R. Batcheller of
 North Brookfield.
 The assignees in circular to the creditors
 state that considerable of the indebtedness ia
 held by purchasers of the firms commercial
 paper whose names are unknown to the debt
 ors and request all creditors to at once send
 statements of their claims to them at the off,
 fee of the firm. o.- ~ '--o VA
 The firm was established in North Brook field in 1919 by Tyler Batcheller. Later it be. came Iyler Bateheller & Go. and remained so ml.a Ta.I tne breaking out of the war in 1861. ine business was reorganized under the firm name of K. 8 A. H. Batcheller & Co.,, which palo up the debts of the failed concern, prin- clPal ana interest. The facte y at North Brook held ls one of the largest and be ,t equipped ln the country and gives employment to l,l00 hands calling for weekly pay roll of over SIC, 900. This Is the only industry in the town. The firm was one of ten firms in worcester county that had a long contest ] With the Knights of Labor in 1887, lasting some five months. This struggle, though l resulting in the success of the mann 1acturers, was very expensive and doubt | less contributed largely to the present em. l barrassment.
 Ths immediate cause of the failure is large loans made by A. H. Batcheller out side of the business and the fact that the ] recent large failures in the leather trade. l followed by the Lewis Bros. & Co.,, failure I added to the ill-health of the senior partner of the firm has rendered it difficult to ob- ! tain money on the firms commercial paper. l The manufacturing business of the firm, has been profitable and this fact renders it ! probable that the business will be re-estab. llshed under an arrangement with the credi- tors.
 NcKean Sr Appleton, shoe manufacturers at Salem, have assigned to Junius Beebe of | Boston. The estimated liabilities are from $60, ,000 to $76, ,0OO.
 McKean 6 Appleton did the largest shoe business in Salem, their yearly sales reach- ing nearly $4OO,000. Mir. McKean has been In this line of business since 1859, failing in 1863 for about $40,000 and paying but small dividend. The present firm was formed in 1885. since which time they have done large business running one or more jobbing stores in addition to their manufac- turing. Their assets as near as can be de- termlned by nasty examination are about p4O,0OO. The collapse was hastened by re- l cent losses through failures aggreeating b7, ,0OO or $8,0OO. The factory in occupancy belongs to MoKeans wife.
 1t Is believed that some of the heaviest creditors are the Thomas B. Procter Leather company, Hoyt Brothers, T. Zschetzscha &. Son.. Walker, Oakley & Co.,, and Homer Brothers, but at the stores of none of these 1rms were adverse criticisms of E. & A. H, & Go. heard. l
 The firm owns it's factory and machinery which are estimated to be worth over s2OO, 900, and also owns the Batohellor Hotel at North Brookfeld. The firm carries buildings, machinery and stock. A. M. Batohellor, the head of the finn, lives n Boston and is director in the Manufac. urers' bank. His residence, which stands 'n Commonwealth avenue, stands in his Hife's name. Francis Batcheller, the junior partner, hves at North Broekfeld and has ,harge of the manufacturing
 | title being owed for merchandise. It is ex- oeeted that by the last of the week state. nent ot the firms affairs will have been pre- pared so that the liabilities and assets can be l 'tated with something like exactness.
 WORCESTER, Mass, July 30.-Nothing was 1nown of the failure of the Batohellors at North Brookfeld until this afternoon and the ! news created SUI prise ar ] consternation in he village where prosperity is dependent lpon work in the big shop A. H. Batchel- 1 or, the head of the firm, arrived in town at ,oon from Boston but he absolutely refused Q see reporters. The shop now employs one thousand hands. Orders were given at five o'clock that no more new work mould be given out rom the cutting de- would begin in the morning. Should the be long continued it will cause considerable suffering. Many of the opera. ives own houses only partially paid for which they will be likely to lose. Some of he employees are creditors of the firm, hay ng trusted their savings to the concern in 'rder to obtain the five per cent. annual in- crest which it offered.