Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1895-12-06

Clothing cOmpanv-N. Burton & Co.
prOprietors-we believe. 1t sstatct
that Greengard was connected will
a failure in Duluth or Superior be
fore coming here.
The store in Little. Falls was 1
mems furnishing establishment. A
list of the liabilities shows the debts
to be SAT .25,, of which $399. 81 is dn'
Louis Greengard, clerk and mem
Der of the family, and $575.19 due l
Greengard. There are over forty
other creditors, and the amounts
average little over $100-one just
exceeding 81 900, and one over $500
Both the large creditors and nearly
all the small ones are outside this
state. The stock invoices at abont
$500. Each Uf the younger Green.
CARDS has large claim against the
business. and as a labor claim is
preferred to all amount of $50, they
will naturally together receive $500,
The expenses of an assignment sell
dom fall below 5000 or $500, so it il
plain that practically nothing will
he left for the creditors from what is
realized from u broken stock that
invoices 5000. Some heavily en-
numbered real estate is placed in the
assets, but creditors will be unwise
to place much reliance on it's value
as an asset: ! he failure is, there
fore. about az "c]ean" as it could he
made.
There are no general reasons for a
failure in Little Falls this year. All
classes of customers are better
supplied with money than for some
time before. All laboring men had
abundant employment this year.
Crops were better than had been
known for years. An unusual
amount of money is in circulation.
Hard times alone would cause no
failure in Little Falls this fall. Large
purchases of goods were made by
Greengard in September and Octo-
Der, and but very small and poor
stock is left. From the statements
made the business has eaten itself
entirely up-the clerks have as much
due them for wages as the remaining
stock is worth. The 81 1900 Of other
credits have nothing at all to show
as counter balance. What became
of the money received for them?
There are ugly rumors about
what became Of some of the goo Is.
A police officer says he saw Jacob
Burton (whOse store is only two
doors from Greengard's) conveying
clothing towards his store and ap-
parently from Greengard's late one
night a short time before the failure.
Possibly it was legitimate pur-
chase, but Burton's frantic efforts to
conceal the clothing when he was
observed by the policeman indicated
that he desired secrecy about it. 1t
was Officer Tourtillotte who saw
Burton with the clothing and Bur-
ton promptly threw:it into Il wood
shed, then picked up some sticks Of
wood, and asked the officer into the
store to give an opinion on his
(Burton.s) security against burglars.
TOurtillotte oppressed entire conf
dence in the conditions for prevent
ing crime, and then proceeded to the
woodshed, lighted match, exam
ined the clothing strewn about, ana
advised Burton that some Of his
"wood" seemed badly mixed. There
are other rumors that also rise above
the dignity of gussip. and point to
unusual conditions surrounding the
assignment.
Now it is useless for the public to
pretend to be blind to these matters.
AS an honest community Little Falls
must protect itself from the evil ef-
fects of any fraudulent business
methods. The Greengard failure is
one that on it's face, and with it's
demands investigation.
There are none in the community
but will hope that no fraud has been
committed by which any who en-
tended credit to II local business mnn
will be chea ted out of their rights.
Legitimate business cannot pros
per in the face of such competition,
and even the buyers of the commune
ty cannot afford to patrOrize men
who are dishonest and unreliable.
Other sellers and all the buyers
should be protected as much as pos
sible from the presence of such men.
They are in every way an injury
even escaping the payment of taxes.
1t is the duty of outside creditors
to cause an examination of the con-
ditions that cansed their loss, and
all the assistance possible should be
given by local citizens and authori-
ties. If showing can be made that
will remove any suspicion OF fraud