Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-11-05
STANTON, JAMESON j cos CREDITORS
Will Further Investigate Inc Finances Of the
Recently Failed Firm.

Lewiston, me, Nov. "A special to the
Journal from Bath, says: meeting OF
the creditors Of Swanton, Jameson &
Co.. the Bath hardware firm that failed,
several months ago. was held. Thursday
noon. at Cotillon hall. There were about
80 creditors present. with H. A. Duncan
as chairman and F. b. Nichols as secre-
tary. The report of the assignees. Messrs.
Charles e. Patten, Charles H. Mcclellan
and VIM. ID. Sewall showing the financial
condition of the firm was accepted. The
receipts show liabilities of A,757; assets,
$59.O21.
There was some discussion about tho
| finances of the firm, the outcome of
which was the appointment Of Thos w
! Hyde and Charles w. Larrabee of Bath.
and Charles v. Minot of Phippsburg, as
a committee to further investigate into
the finances of the concern. The commit.
tee was instructed to increase to five by
adding two Boston creditors and to re-
| port as soon as possible. 1t was voted to
continue the same assignees.
| The Bath Times, Thursday, said: A
| meeting of the creditors of Swanton &
| Jameson was held in Cotillion hail. this
| forenoon at 10 o'clock. for the purpose of
hearing the report of the assignees
Fl. A. Duncan was appointed chairman
of the meeting and there was short dis
cussion about the affairs of the company
The assignces made no suggestion as to
the future of the company's affairs and
asked for the pleasure of the meeting
During the meeting it was seen that
Swanton. Jameson & Co. had been in
solvent about Is years. In 1889 funds held
in trust by II. w. SwantOn for the New
Church Society of Maine as we'll as Gar
diner, had been used in paying debts of
Swanton, Jameson & Co. Funds Of the
Eastern Steamboat Co., of which Mr..
Swanton was treasurer, had been applied
to- Swanton, Jameson Co during the
past five or six years.
The meeting was very harmonious one.
but many were present VINO We're aching
to make their grievances known. had any
OCCASION been given. The ones most con-
cerned, however. believed that no good
would result from a too public airing of
the company's affairs, so suggested that
a committee of three be appointed to in
vestigate the affairs. both In regard to
the liability of the company toward the
trust funds appropriated by Mr.. Swanton
for the company, also the personal obli-
cations of the partners. and also what
percentage could probably be made If
wound up at an early date. T. w. Hyde,
c. " Minott and c. W. Larrabee were APP
pointed on the above expressed committee
and will report, six weeks from today.
Perhaps the greatest surprise at the
meeting was the amount of paper that
had been issued by the Swanton & Jane
sun ". uuIlNS the SIX IHoiilis previous 10
the assignment on July q and also the
large amount on which C. V. Minott had
endorsed and was held as collateral by all
the national banks of Bath. besides others
held by the DamariscOtta, Richmond and
others.
A sad feature of the meeting was the
six women present, who as creditors of
the company. had lost much of their hard
earned money by the failure.
Mr.. Holmes of the Plymouth Cordage
Co. of Boston, who was the largest cred
itor. was the only out-of-town creditor to
make any remarks, and he seemed we'll
pleased to let everything rest in the hands
of the Bath men selected as assignees
and the new committee.