The semi-weekly tribune. [volume] (Great Falls, Mont.) 1890-1891, 1890-10-22
THE GREAT PETERS FAILURE,
Peters and Assignee Henry Make
Statements s-Many Firms
Involved.
R. G. DUN & co. s COMMERCIAL REPORT
The Business interests of the C0un-
try are in Good
Shape.
Men Injured in the N. P. Wreck cut
of Danger er-Stevensville
on Fire.

DETROIT, Oct. 17.-A. NJ. Henry, as
slgnee of r. g. Peters of Manistee, was
seen here this afternoon before he left
for Manistee. He said that mt this time
it was impossible to make any statement
as to Che failure. At rough estimate,
however, he thought the liabilities were
about $2,000,000 and the assets in the
nelghborhood of $3,0O0,0O0, although at
forced sale they woule be apt to shrin's
considerably. 1t will be impossible 70
make Il statement for some time, as the
operations of the firm were SO extensive
and complex.
MANIsTEE, Mich, Oct. 1.-Two or
three public institutions will find them
selves very directly interested in the fail
ure of r. e. Peters. Some time ago 1t was
announced that Peters had given $4,000
each to Oberlin college, Olivet college
and the Congregational Theological Sem
mary at Chicago. Oberlin college has
since built large and elegant building
and christened it "Peters Hail." 1t now
turns out that the gifts are only on paper.
Peters having given his notes for the
sums named, on which he agreed to pay
interest-and presumably has-until such
time as he should choose to pay them.
There was a run on the Manistee
National bank this morning, which was
promptly met. The institution was pre-
pared for such an emergency and is am
ply able to meet the run without going
outside of its own resources. 1t has
nearly 100000 in currency in its vaults.
The excitement here has subsided.
Peters was interviewed this afternoon
and in speaking of the condition of the
various firms in which he is interested
he says Buffers & Peters of Ludington,
North Carolina, are in good shape.
Peters & Morrison of Monominee, Wis,
were on d good deal of accommodation
| paper auu woulu probably go to Tile
wall He said that the Interior Lumber
Co. of Interior, Mich, were in good shape
and not in any danger, and the Peters
Lumber Co. of Brewton, Ala, owed not
over $4,000 or 100000 to outsiders in
addition to what it owed him. Peters
Trust Land Co. of Alabama, has It's lands
all paid for. The Fifth Ma
tlonal bank of Grand Rapids, has
almost nothing Of his paper
and he owned $4,000 of its stock. Arthur
Meigo & Co., lumber, planning mill and
real estate, and Peters & Dunham, botl
OF Grand Rapids, are heavily involved
and would likely go under. He disposed
of his interests in Higbee " Peters o.
Chicago recently, and that firm is al
right and has his good will. Lemon 4
Peters, wholesale grocers of Grand
Rapids, are in good shape. Marthursor
& White, who operated numbering ex
tensively in Canada and Wisconsin ant
were backed by Peters, are considerably
involved. X. G. Peters Salt and Lumbe
Co., of this city, always made money ant
is in prosperous condition, If considered
alone, Bickford & Kncx, lumber com
mission firm of Chicago, are on larg
amount of his paper. Jas. kneeland o
Milwaukee, holds 100000 of his pape
and considerable contingent 4lven t
the Canadian concern. T. r. Lyon 0
Ludington, Is the largest individual cred
itor, but is amply secured. Something
like $500 of his paper is held in de
troit and the contingent liabilities ar
about 100000.