Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1894-10-24
BUSINESS FAILURE.
S. P. Tsasdel q SOrS, The We'll
RnOWl Merchants, Assign.
IT CAUSED 4 DIG SENSATION.
the Lsrg,d aud tar he't u aching
Busiurss Ia lure ia tue History N
Utah The tausc.

Tho words "JJhn T.. Dolly and
J1.tph L. u,oghegan as-ignrt,"
stlasliugiy wn,tsu AMI cous,icuou'-
~ positt un tho front doors VI >. T..
Icas4,l a NO - iacc OF businus at un
carry h,uf this m rning was tie raufc
u tho most profound sensation 10
business cifclis hat was ever known
IA tue history Of tnis Territory.
IL was the almost uuivcfsul belief
tuat that firm, 40 well known
business man expressed II b. btmOau-
Ing tue cra.h later IN the Jay, was A.
solid anu immovAble a. the Rock oi
Gibraltar. The climax came suddenly
aud without n word Of warning. Tue
employees VI the huusu last night re-
turned ~ their humts never auspucliug
tort moment that this mofniug they
would be- denied admission TO tue
store in which some Of thom had slent
more than twenty ytars Of their lie.
Hut such was the case, anu when tue
nwfuluu,h dawnvd upon tuem they
were crushed with grief.
a tsl ttsvutauvc Of the NEws We /
Immediately 90 the store TO iuttrvltW
Mir. fcssdui with view 10 ubtninins
direct tom him story oil his financial
tT0uules. but the utwapApOfmau was
Informed that Nit. reasiel WIS NJ ms
home aud thither he went only to be
/ told that the gbntltman was not
/ In the city today. 10 was learned,
however, from reliable s0urcr that
/ the Assignment was entirely voluntary
aud that u was male only alter
Il WIS absolutely known that
/ Mr.. rcnBdel found Il impossible
10 longer carry the burden that
vas Weighing him down. Primarily
| his troubles were uue 10 the fact that
/ ho was uuabiu TO collect from mea
| whom he had trusted Tor merchandise
some u them 10 the amount OF many
thOusands OF dOllau-yeafs ngu. lu
aiditiUn 20 that the hard times bore
heavily upon him aud lac finally gave
way TO the strain.
! Naught tut expressions OF sympathy
ana kindness were heard concern ng
| Nir. Teas Iul today for h has borne his
burdens long and uncomplaiuingil .
What he btRvtu anu stood up under
mAnfuiiy not TO say chrefiuiiy tor
several years past would have caused
tue mOet courageous men 70 have
given w the night anu gone " the
wall early In the contest. His stfugglS'
aud their sequel have MT lott min
without friends aui n tithe OF tue
AID istxteudud him that was limited nj
today II will not bo long before he viii
to sUlo 10 resume business ag IN.
The firm In known extensively
throughout the Immediately sutrOunu
ing states anu IN every town anu ham
let IN Utah It was tue synonym o
taif dealing aud Integrity. Its anuua
country trade was enormous. An,
tueTeiu came n gooily portion OF th'
trouble. Mt. Teasdel was man of IA,
people. lie had great faith In hisiel w
men anu when he was Appr0Auuvu al,
asked iOt credit by the uiNu who wa
uatd up his heart sOittnud and hi
goods went. Hut collections did ~
always follow. During tue period o
financial distress throughout tue couu
Try cash payments became lever an,
more illcult 10 enforce.
Nit. Ioasd,l II oue OF the 0lueot mrr
/ NNhilih III 0Alk AAhhN ANAlH Nv NIfhNA
his present establishment in June
1870. Pfior TO that be belonged tor
c0usidabls lime 60 the fifm OF Jeu
mugs, Teasdui a 5aIdier. A couple o
yonTs ago he TOOK into the nfm viii
him as partners IN the business, IA
sons, AibeTt ID. aud Frank X. reasdel
who have since that time oOuslautll
been associated with HIM.
fl..s - D
Of the ahsignees, the latter stated TO tn
NKws man, al dOn't know thiul
ABOUT II iutthsr than that have btel
made assignee anu that tue pressure
dil not come from Utah"
; Toe assignment papets were filed II
the county recorders office today, an
white tue figures are unfoOted the,
snow liabilities amounting TO NOR
tnan f20O,U Astl the nsiets, sai,
Ath nee ID oy,"NO man on earth cal
tell what they viii amsuut 10 until nj
, inventory has been taken. The list 4
} creditors IL ~ iollowt:
CLASS No, j,
Note dated Nov %, lsJl, to Wells.
! Note ditod sept IS, iDi. to Wells
Fargo A 90 ........,,,..,,,,, ....,.. 80, 1000
Note dated sept. 4s' ls3i, TO Woll'' 10,
| Noto dated Oct J. lsJE 90 Woils,
fargu a 31.,,s..... .. ..sstsssss.s zoo. 5000 {
Note dutou oct 20, 1894, W Wells,
Fargo 90 ..s.,......ss. ....s t.sssss. 4Vul
b | Note dated Oct N, lsil, 90 Wells,
1 fartu a 90 ,,....., .....s's' ..s..s's sso9l
), Note dated rob, o, 1871, utAa liue
lnu lnts.sssss .tsssssss.safs. ltsss -iVV
I Note uatcd fCh, 0, l.j., state hhnk OF
D ltAhssssssssssssssss.H s.a trfr'ss'sfs, aNNV
= Note dated fou,a, sli depual account
p MIs, D. Harris 10000. ,ss,fssssas'sssss. Lab
;, Note dated fub,, l7il, deposit account
!, Henry Lewis ESTATE ..s. .. ...,..,., l,il2
; Note dated frb, q, l,sl, st. John Kirk
hAm tossssssss'''.'.si''s s''' ''''''s.s' -,upV
u iuv auuNe noes Ia ihVOt OF Vol
!. Fargo a Co., are liaplnura OF tue 90
h partnership, but aTe secured ~ NOR
gage on the homestead proper
= ~ OF Samuel T.. ress0el. All {
Inc above indebtrddrss is iudebledne,
Ut the oo-partueuhip, aud constitute
the nrst olassa preferred deot 10 Ia
assignment, ~ Il IL all fsr cash loane
anu useu IN the ruziuusr %. tue hrm.