The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1897-11-20
CRASH CAME ATLAST
Henry Sherry, Long on the Verge
Of Failure, Assigns.
HASLlABlLl1lES OF ABOUT 100000
He Was One OF the best known OF
Wisconsin's Lumber Operators
and Manufacturers-Fen That
others May BE Affected.

Oshkosh, Wis, Nov. 1s.-Henry Sher-
ry, one of the greatest lumber operators
and manufacturers Wisconsin ever
knew, a man who had interests in near
ly every northern county, gave up the
fight against business misfortunes and
the shrinkage of assets and credit due
to hard times and assigned all his vast
properties for the benefit of his cred-
itors. The assignment occurred
Wednesday night. The papers will be
filed to-day in the circuit court for VIM
nebago county. The assignee is James
w. Cameron, Of Milwaukee, formerly as
ISOLATED with Mr.. Sherry at vesper,
Wis. Some of the creditors preferred
S. A. Cook, the Neenah ex-congress-
man, but Mr.. Cameron was Mr.. Sherry's
choice. The only possible hitch in the
proceedings is the failure of Mr.. Cam
eron to secure bonds, but this is not
deemed probable.
Long Time ON the Ragged Edge.
For three or four years Henry Sherry
has been sailing close to the lee shore
of bankruptcy, and several times cawed
off only by extraordinary efforts of
above water and maintained his credit
was his verified assertion that there
was not scratch of pen" against his
property. A couple of days ago, how
ever, deeds that had been held back
were filed against the post office block
in Neenah, owned by him, and the
storm descended. Some Of the banks
of this city demanded security, and to
save his estate being wasted by at
tachments Sherry took the step indi-
Gated above. The assignment may at
feet several corporations in which Sher-
ry was interested.
Owes S1,OOO,OOO.
Mr.. Sherry estimates his debts and
those of associate companies as less
than 100000. He estimates that his
assets and those of the associate COM
ranies are sufficient to pay all the lia-
bilities if judiciously handled. He ex-
poets to pay 100 cents on the dol
lar. Mr.. Sherry gives as among
the causes which have led to this un-
fortunate situation the general depres-
sion in business during the last few
years, and particularly large losses
tulouSu tHt lullure OF u. y. u. Meyer
several years ago, and large losses later
by the burning of timber and mills and
pine lumber uninsured
The Creditors.
Some of the largest creditors are,
First national bank of Milwaukee;
Manufacturers bank of Neenah; Sam
Smith, of Neenah; C. w. Howard, of
Neenah; ID. C. Van Ostrand, of Neenah.
S. M. Hay, of Oshkosh, as trustee for
himself and others hold mortgage
on the Park Falls Paper and Pulp COM
pnny.
The man who is appointed ms assignee,
1T is said, will be obliged to furnish
bond anywhere from $250,0oo up to
Sl,o0o,ooO. 1t is said that large amount
of the Sherry paper is held by farmers,
business men and bankers throughout
the country without any indorsers.
Not Involved.
Appleton, Wis. Nov. 1s.-The Sherry
failure caused quite furry among
local business men, but investigation
shows that no Appleton firm will be
affected. The Gerry Lumber company,
in which he had large holdings is not
involved, and paper held by the Com
mercial national bank ia thoroughly Sc
cured,