The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-07-31
A BAD BREAK AT BOSTON
SHOE MANUFACTURERS sUCCUMB
TO S1,25o,ooO IN DEBTS.

! siders, Heavy Failures and a Strike
Helped Bring on the Embarrass-
ment-An Arrangement With the
Creditors Expected.
| BOsToN, July 30-E. & a. H. Batcheller
& Co., among the largest boot and shoe
! houses in Boston, doing business at Nc. 106
! Summer street, have assigned.
Mr.. Batcheller of the firm states that the
liabilities, as near as can nov DO ascer-
tained, will reach S1,25O,0O0, with
nominal assets of about the same figure. An
expert accountant is now going over
the books and report will be made to tine
creditors as soon as possible. The sgnees
are Thomas L. Proctor of Boston, and H.
! Batcheller of North Brooktield. The as
signees in a circular to the creditors state
| that considerable of the Indebtedness is
| held by purchasers of the firms CONNER
clal paper whose names are unknown to
the debtors and they request all creditors
to at once send statements of their claims
to them at the office of the firm. The
leather trade will not suffer, as the firm
paid cash for most of its leather. The firm
is one of long standing and was rated by
| BFGdStrestS &c. A. The failure creates
great surprise.
ESTABLISHMENT OF THE FIRM.
The firm was established in North Brook
field, in 1919, by Tyler Batcheller Later
it became 7. and E. Batcheller d Co, and
| remained so until the breaking out Of the
war in 1861. The business was reorganized
under the firm name of E. N A. II. Batchel-
Ter a. Co., which paid up the debts of the
old concern, principal and interest. The
factory at North Brookfeld is one of the
largest and best equipped in the country,
and gives employment to !, 100 hands, call
ing for weekly pay roll of over $4,000.
This IS the only industry in the town.
HURT BY A STRIKE.
The firm was one of ten firms in Worces-
ter county that had long contest with the
Knights of Labor in 1887, lasting some nine
months. This struggle resulted in the sue
cess of the manufacturers, but was very
expensive, and doubtless contributed largely
to the present embarrassment. The imme-
diate causes of the failure are
large loans made by A II. Batch
eller outside of the business, and
the fact that recent large failures
in the leather trade were followed by Lewis
Bros. & Co. The failure added to the i'll
health of the senior partner of the firm has
made it difficult to obtain money on the
firms commercial paper. The manufactur-
ing business of the firm has been profitable,
and this fact renders it probable that the
business will be re-established under an ar
rangement with the creditors.
| CREDITORS VERY CHARITABLE.
A prominent merchant, whose sentiments
concerning the embarrassed firm seem to
be shared by all the members of the shoe
trade in this city, said to-day: "E. 81 A.
H. Batoheller was first-class firm Its
trade has been considered very desirable
and has been sharply competed for
There was not a leather merchant in
Boston, but who would have been glad to
sell them any amount Of goods they might
ask for and this statement held true up to
yesterday. Their business was considered
the cream of the trade. / don't believe
their failure will affect the trade to any
great extent, for they usually paid cash.
The assignment does not indicate any
trouble in the shoe business, for it is sup
posed that every concern in the business is
manufacturing at profit, and the statement
that the failure was due to outside specula-
tion, confirms this view Of their affairs.
TOO EASILY DISCOURAGED.
"a. H. Batcheller has been sick, and
think he became discouraged too easily and
gave up when there was no need to do so.
have no doubt that the firm will pay in
full before it gets through, and that it will
resume business on a solid basis. The credit
of the firm was good up to the last minute,
aud | think the failure will make little
talk and that the trouble will soon
blow over. 1t is too bad
that the present state Of affairs should ex-
ist for the firm is composed of people who
have always been thoroughly honest and
straight forward in ali their dealings. /
think such people ought to have the sym
pathy of the community when they get
into trouble, and that they ought to be
helped to get on their feet again."
SOME OF THE HEAVIEST CREDITORS.
1t is believed that some Of the heaviest
creditors are the Thomas E. Proctor Leather
Company, Hoyt Bros, Walker, Oakley &J
Co. and Homer Bros. But at the stores Of
none of these firms were adverse criticisms
of L. q A. h Batcheller 81 Co. heard. The
firm owns its factory atd machinery, which
are estimated to be worth over 81, ,000,000,
and also owns Batcheller's hotel
at North Brookfield. The firm
carries an insurance of nearly 81, 900, on
the buildings, machinery and stock. A. II.
Batcheller, the head Of the firm lives in
Boston, and is a director in the Manufac
turers bank. His residence, which is on
Commonwealth avenue, stands in his
wife's name Francis Batcheller, the
junior partner, lives at North
Brookfeld, and has charge Of the manu-
featuring. The paper is nearly all held by
banks, very little being owed for mer-
chandise. 1t is expected that by the last Of
the week a statement Of the firms affairs
Will have Deeu prepared, so UnaL tue llaOlil-
ties and the assets can then be stated with
something like exactness.
SALEM FIRM FAILS.
| Mexican & Appleton, shoe manufacturers
at Salem, have assigned TO j. Beebe of
Boston. Their estimated liabilities are
from S65, 900 TO S75,0 600 Mexican & Ap-
pleton did the largest shoe business in
Salem, their yearly sales reaching nearly
$4OO, 900. Mr.. Mexican has been in this
line of business since 1859, failing in
1869 for about $4,000 Rnd paying
but a small dividend. The present firm
was formed in 1885, Since which time they
| have done a large business, running one or
more iobbing stores in addition to the fac
tory. The assets, as near as can be determ-
ined hastily, are about $4,000. The col
lapse was hastened by recent losses through
failures aggregating $1,000 or $1,000. The
factory belongs to Mr.. McKean's wife.
LITHoGRAPHERs OUT OF MONEY.
| PHILADELPHIA, PA, July 30-Much
surprise was created to-day by the an-
nouncement that the national bureau Of
engraving, one of the most extensive
lithographing establishments in the
country, is in financial distress.
The headquarters and principal
offices Of the company are at No. 107 South
/ Second street, and their works are at
Burlington, N. j. Two hundred hands en-
ployed in the works were recently dis
| chargad and tha buildings and plaut are