Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1893-03-27
TIE E. Z. COFFIN HARDWARE CO.

Marshai-A Collapse and Pr"bsb|
Total FSilnre.
Salt Lake Herald. 2sth.l
Shortly after Z O'Clock yesterds
at. rnoon the doors Of the T.. G. Coffi
Hardware Company we're closed a"'
lorked, and slip OF paper besrin!
tho following announcement wa
posted:
| "Clos~d Under an Execution.
II. A. Benton, United S'st.s Marshal
! "Bv A. G. Dyer, Deputy"
A few minutes later Mans H. Colin
tho vice-presid-nt of the company
was seen by a Herald man, aud h.
said: ''The credit system of Sal,
Lake City hns driven US to the wall
We confessed judgment. to day in
favor OF the National Bank OF the
Republic and Mrs. D. W. Jewell, 70,
*32 900, and the store has been closed
under that execution. The clsin OF
the bank was for money advanced to
tide 10 over. E. C. Coffin is now
East, where he went to try and raise
funds. but ! have apprisrd him by
wire of the collapse OF the hu.ine.s -
"Then you will not be able to re-
sume!"
mo. there ism. any probability Of
that. We are owing about al, OCO
of which $4,000 is represented BY
the judgments and $4,000 Is owing
in the East. We do not owe any thing
here"
"Have you lit of the liabilities ?"
"N"; they consist Of many small
accounts There is only one that
amounts to ii 900, and of the others
only one reaches 5000"
"What are the assets?"
1.-THE assets consist of the stock,
worth from $4,000 to $45 900, and
our hook accounts, which on January
! amounted to almost $4,000. The
accoun,s have been cut down con>
s'dersbly since then. and | am unable
I" give the exact amount due US a.
present."
"How long had you bee" going be.
h'nl?"
We'll, we had not made ANYTHING
for n year and a half. The fire at
HALEY. Idaho, in 1882, was The he.
ginning Of our trouble. Our loss
there WAS &53,0O0, AID We were il
>ur-d for on!. $4,000. We started
m bushes. here in 1889, aud inco,-
the 4. e. Colin Hardware
Company, with capital Of SOC, 600.
E. &. Coffin. the president, E. w.
Copper. and myself were the principa I
pwners."
The confession Of judgment was
filed with the clerk of the Third Dis.
nit Court yesterday, aud WAS made
n pursuance Of the action taken nv
he directors # the company CO
Wednesday last.
ASSETS AND LIABILITIES,
The CLAIM OF thu National Bank o.
The Republic is $3O.4l7, aud there are
no o,he. local creditors. The EASTER.
re d'tors, whose claims aggregate
'hou. $4,000. are mostly films witt:
"hom the company have been doing
'u>l"css for ma"y years. and ,hei,
,lsims are small. 1t was learned from
m authoritative source that the book
'cc"nnts and notes are actually worth
II 5000. ard the estimated value Of
h- sto' k j. $40, 900. making the total
'ssets *55, 900, while the liabilities, rs
hown above, ARE $4,000.
LARGE MINING BUSINESS.
The +. T.. Collin Hardwxre com
'sny. as stated above, was incorpn.
a'ed about four years ago. The firm
It Coffin Bros. formerly had extensive
mining aud mercantile interests in
he WOOD River country, in Idaho,
'"N'U WIG va viz sun TtSlUt D.
he company has alwa,s done h-av,
mining business until this whit. r. hav-
'g made a speciality OF mining
uppli-s. But with the decline OF
liver. came the closing down of mary
ni"+s aud this branch OF their trade
Uttered q collapse during the pas,
winter.
The members of the firm are full of
BUSINESS energy and it is to b. hoped
HIT thew will he able to re-ume busi,
ess Unless thew succeed in satisfying
he judgments. the stock will, Of
curse. he sold by order of the cour,
hardware stock cannot he disposed
t At forced sale to advantage, and
ONE arrangement may be made to
void this sacrifice.
None of the Coffin Brothers reside