The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1897-11-20
FORTUNE SWEPT AWAY.
Henry Sherry, Heavy Lumber OPP
orator, Assigns at Neenah, Wis.
He Estimates His Debts at NearIy 81
100000, Hut Expects 10 Pay 100
Cents ON the Doiiar-Long ON
the Verge of Failure.


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
liz every northern county, gave up the
fight against business misfortunes and
the shrinkage of assets and credit due
10 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 Win
nebago county. The assignee is James
w. Cameron, OF Milwaukee, formerly as
sociated 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.
| For three or four years Henry Sherry
has been sailing close to the lee shore
OF bankruptcy, and several times clawed
of only by extraordinary efforts Of
himself and friends. What kept him
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 10
save his estate being wasted by at
tachments Sherry took the step indi-
Gated above. The assignment may af
feet several corporations In which Sher-
ry was interested.
Mr.. Sherry estimates his debts and
those OF associate companies as less
than S1,000,0O0. lie estimates that his
assets and those of the associate com
panies are sufficient TO pay all the LA
bilities If judiciously handled. lie ex-
poets 10 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
through the failure OF c. j. l.. Meyer
several years ago, and large losses later
by the burning of timber and mills and
pine lumber uninsured
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. NJ. Hay, of Oshkosh, as trustee for
himself and others hold mortgage
on the Park Falls Paper and Pulp com
pany
The man who is appointed as assignee,
it is said, will be obliged TO furnish
bond anywhere from S250,000 up to
$1,000, 900. 1t is said that a large amount
Of the Sherry paper is held by farmers,
business men and bankers throughout
the country without any indorsers.
Appleton, Wis, Nov. 1S.-The Sherry
failure caused quite a 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
mcrcial national bank is thoroughly Sc
cured
Mr.. Sherry resided in a handsome
mansion on Park Row, Neenah. with
his wife and one son, Edward sherry
The residence Is n magnificent one, and
only recently Mr.. Sherry is said TO have
been offered $4,000 for IL by one Of the
creditors to apply on his indebtedness
10 him. Mr. Sherry also owns the
Sherry brick block Of stores ON CONNER
cial avenue IN Neenah, which, with his
residence property. is said to be free
Of membranes. The post office block,
on Wisconsin avenue, has been decided
10 creditors recently