The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-11-18
MILLION DOLLAR FAILURE.
Henry Sherry, the Wisconsin Lum-
herman, Forced to Assign.


OSHKOSH, Wis, Nov. 17.-Henry
Sherry one Of the greatest lumber OPP
orators and manufacturers Wisconsin
ever knew a man who had interests in
nearly every nOthern 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 creditors. The assignment was in
process all day. 1t occurred tonight.
The papers will be filed tomorrow in
the circuit of Winnebago county. The
assignee is James W. Cameron, OF Mil
waukee, formerly associated with Mr..
Sherry at Vesper Wis. Some of the
creditors preferred S. A. Cook, the
Neenah eX-congressman, but Mr.. Cam
eron was Mr.. Sherry's choice. The
only possible hitch in the proceedings is
the failure of Mr.. Cameron to secure
bonds; but this is not deemed prop.
BILE.
For threee or four yeas Henry
Sherry has been sailing ertose to the lee
shore of bankruptcy, and several times
clawed Off only by the extraordinary
efforts of hSnself and friends. What
kept HIP above water and maintained
his credit was his verified assertion
that there was not a scratch of PEN
against his property. couple days
ago, however. deeds that had been held
back were filed against the postoffice
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
attachments Sherry took the step in
Dictated above.
The assignment may effect several
corporations in which Sherry is
interested. MIR. Sherry estimates
l. loIDt Nd of q 4 a
companies at something less than ST.
0G0, 900. He estimates that his assets
and those of the associate companies
are sufficient to pay all the liabilities
if judiciously handled. He expects to
nav 100 cents on the dollar in time.
Mr.. Sherry gives as among the causes
which have led to this unfortunate stu
alton the general depression in bust
ness during the last few years, and
failure of C. J. L. Meyer several years
ago. and large losses later by the burn
ing of timber and mills and pine lum-
Der uninsured. -,-.-..
The Gerry Lumber company, OF Appleton,
of which Mr.. Sherry owns large amount OF
stock is not affected by this assignment.
Some of the largest creditors are: First Ma
tional Bank of Milwaukee, Manufacturers
Bank, of Neenah, Hiram Smith, of Neenah;
G. w Howard of Neenah; D. c. Van Os-
trand Of Neenah; S. NJ. Hay, of Oshkosh
as trustee for himself and others, holds
mortgage on the Park Falls Paper and Pulp
company. The man who 1t appointed as
signee it is said, will be obliged to furnish
a bond anywhere from $3.50 coo up to Sl,Co0,-
COO. 1t is said that a large amount OF the
Sherry paper is held by farmers, business
men and bankers throughout the country
without any endorsers.
Mr. Sherry resides in a handsome mansion
on Park row Neenah, with his wife and
one son, Edward Sherry. The residence is a
magnificent one and only recently Mr. Sher
ry is said to have been offered $4,000 for it
by one Of the creditors to apply on his in
debtedness to him. Mr.. Sherry also owns
the Sherry brick block of stores ON Com
mercial avenue, in Neenah, which, with his
residence property, is said to be free of in
cumbrances. The postoffice block, on Wis
consin avenue has been decided to creditors
recently