The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1889-07-31
ANOTHER BIG FAILURE.
One Of the Leading Boot and
Shoe Firms Of the Country
GOES UNDER FOR A MILLION
And a Quarter DolIars-oVera a Thous'
and People Thrown Out OF Em,
ployment-The Cause of the
AssIgnment-An Old Firm,

| nuhIoNi July OV'-Ely AHu ~ III paF'
theller & Co., among the largest boot
and shoe houses in Boston, doing busi'
ness at tlOGsummerstreet, have assigned.
Mr., Bartheller, Of the firm, states that
the liabilities, as near US can now be as
certained, will reach $l,95O,OOO, with
nominal assets about tine same figure,
An expert accountant is now going over
the books and u report will be made TO
the creditors as soon as possible, The
assignees are Thomas E, Proctor, OF Bos-
ton, and X. Bachelor, OF North Brook
field, The larger amount Of the indebt'
edness is said to be on paper and held
by parties who are at present unknown
to the firm, Four.Afths Of the indebt'
edness is to banks and individuals. The
leather trade will not suffer, as the firm
paid cash for most OF It's leather. The
firm is one OF long standing and was
rated by BradstreeIs "G, A." The fail
ure causes great surprise.
Ameeting OF the creditors will be called
as soon as definite statement Of the
firms affairs can be prepared by the ex.
pert accountants now engaged in examin'
ing the books, AS considerable OF the
Indebtedness is heldby purchasers Of the
firms commercial paper whose names
are unknown, the trustees request that
all debtors will send them statement Of
their claims. The firm is one OF the
oldest In its line in the country, the bus
iness having been established In North
Brookfield In 1919 by Tyler Bachelor
and his sou, Francis,
The factory at North Brookfeld Is one
OF the largest and best equipped In the
country, aud gives employment to !, 100
hands, ,calling,tor aweekly pay roll Of over
$4,000. This Is the only industry oithe
town and the failure will be a heavy
blow. Until recently the production Of
the factory was mainly heavy boots and
shoes, but lighter styles OF goods have
largely taken theirplaCe; the product has
always enjoyed a high reputation for ex.
cellence and durability. This was one oi
then firms In Worcester comfy that had
a long contest with tile Knights OF Labor
in 1887, lasting some five months; and
this struggle, which resulted in favor OF
the manufacturers, vas very expensive
and has undoubtedly directly OF indi.
rectly contributed to the pres
ent embarrassment, The immediate
cause OF the failure is the large
losses by A. II. Bachelor outside Of the
business, and the fact that the recent
large failures in the leather trade, fol-
lowed by the Lewis Bros failure, added
10 the III health OF the senior member OF
the firm, have rendered 1t difficult to
obtain money on the firms commercial
paper. Itis undoubtedly true that the
manufacturing business OF the firm has
been profitable, and this makes II likely
that the business will bo re.eltabllshed
under some arrangement between the
firm and its creditors
A prominent merchant, whose senti-
meats concerning the embarrassed firm
seem to be shared Ryall members Of the
shoe trade in this city, said to-day; "E.
& A. II. Bachelor was flrstclaSs firm.
Its trade has been considered very de-
sirable and has been sharply competed
for. There was not leather merchant
in Boston but 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 oi the trade.
! don't believe their failure will Affect
the trade to any great extent for
they usually pail the cash. The
assignment does not indicate any trouble
in the shoe business, Tor it Is supposed
that every concern In the business Is
manufacturing at profit, and the state
ment that the failure was due to outside
speculation confirms this view OF affairs.
Mr., Alfred Bachelor has been sick and
think he became discouraged too
easily and gave up when there was
no need to do 60. have
no doubt that the firm will
pay In full before 1t gets
through and that 1t will resume 6usi-
ness On a solid basis. The credit Of the
house was good up 70 the last minute,
and ! think the failure Will make q little
talk, but that the trouble will soon blow
over. Itis too bad that the present state
OF atfairs should exist, for the firm Is
composed OF nice people, who have been
always thoroughly honest and straight
forward in all their dealings. They
ought to be helped to get on their feet
again."