The Providence news. (Providence [R.I.]) 1891-1906, 1899-12-16
They Are All Included In The Assignment
Made at Boston Yesterday.
THE BUSINESS WILL Be CONTINUED
ASSETS Of Tho Company Exceed is Liabilities b.
Two MiIIoLs Sit.msui Made BY Hsman
l.. chaplin, The AssIgn.s.

and Company Corporation and ALI
companies. engaged i'm the meat al
provision and meat packing business,a a
signed yesterday 10 lawyer Herman '
Chaplin OF SO State street The liabil
ties are estimated at $4,000 0O0 and th
assets $1,000 900, the latter including
recent appraisal OF the plant at Eas
Cambridge and Somerville at $1,000 600
The company was Incorporated in lS9
and has paid-up capital Of s5OOO0OC
stock being largely held in the Squir
family.
The business Will be carried on with
out any change by Mr.. Chaplin as as
slgnee. A meeting of creditors will bt
called at an early date, and Mr.. Chap
lin is of the opinion that all will agee
ON some plan that will allow the busi-
ness TO continue without interruption.
BANKS ARE CREDITORS.
The creditors are banks for the most
part, the Globe National Bank Of this
city being one Of The heaviest. Other
Boston banks are involved 10 some ex-
tent, but the Indebtedness is largely
outside OF Boston, divided for the most
part among banks in New England in
whIch the Squire company has branch
stores. The estate of the late John +.
squire is not involved in any way i'm
the assignment. Branches of the par
ent company involved include. in this
CITY, Frank q. Squire a. Co, 81 To n
Blackstone street, +. r. Squire A, Co
- FaneIll Hall Market: Joseph Squire
d Co. 45 TO AZ North street and stores
IN New lork, Lawrence Portland
worcester and Bath.
IN an interview last night Mr. Chanl;n
said The assignment was the dlraet
result of tightness in the money mar
Het. Practically all the indebtedness is
20 banks. These banks found IL neces-
sdry 10 call their loans The Squire
company could not raise the money IN
meet them all at such short notice ana
X was deemed best TO make an assign
ment. There rs a clean $4,000. 600 mar
gin or assets over liabilities. and there
are no incumbrances on any of the |
Squire property. e
The company bought for casb al
ways and sold on credit Like most hi, |
soHcerns doing business under thoso |
spnultions. the company had consider |
80 paper out. The paper passed from |
,.a.< ~ uanu ana mas been considered |
peMectiy good for 20 years.
Ihe house is in a sound 6,aro,a,
conaltion, and is now doing a very Iarga
aau prontable business. 1t NAV he tbet
ene company was bit over-confidant
ns 70 its credit, and when this call ca,os
- suuueniy IL therefore found tho cor
Poration unprepared. wi
a week ago we could have M.
.,i', .,s..iioh doliar mortgage ON the com
"s so property If we had cared M do
NO PRBFBRENCEs
The assignment is absoi,,,o,,
ul preference. Many OF the ,vor,e,, w a.
., ne squire family are stockholders ~ IA
nave cheerfully turned over go 80
oeh, a, peneving in the solvenrv 30 ~
euncern, a,,,, and in the ultimata stratos. ne
'n.ng out of the tanele. - sht-
ASKED as to the rumor TIM. A..
sio nno assignment was an oyerdraS, 90
Gonna NJ @ ehe Globe bank. which the
Mr. rha,s "as cailed upon TO make good
ne ~mapnh ~ said that SD far as ba Pr
~. .ne ruinor was not correc, ana Nv ~.
~ ,nds Dtednsss to the Gloha hs,i, .,iat @
~. Ih the form Of an overdr,aft ""s
s1,,,I 70 the rumor that the John ID
fbe uunlpany was TO he absorhad ~,
hae, SMllts' Mr.. Chaplin said there "a
as , soie talk OF IL and he REGARDED =,
v'n,ra Hheiy, but he did NOT tbinL :.
~, 1u,u ZONE about just at present "a
hot INIT the financial sitna,ies' oseht' ana
e4at Nv man Ill Is at pres
co,ss, 81, ,haphn explained thar the .,,o
49, the squire and the Su,ts,
~ S ~ on quite the same footing
~, "a yer mas million dollar nno,t ~, &C 90
., 81, piuperty and the former has noS,o
r. ne SAID that John r. Souiro ~
its affsIrs 50 ahead, Strengthening ON
! "a anaIrs as expeditiously as nossibIa ba'
ahu ana some time after the beeinr,,le
.ne '.l new year. IL the money marl,n.sI vi
no Dettsr shape for the f1oati- sot
ois enterprise there might ho ol
''"ruaulon 'e OF the Squire and swis, T,- ~ :
The directors OF the Corporation 49,.
sa,,in a,lh -. squire. president; Fred n
,sIulre, treasurer; John p. souiro
s,stant treasurer: John p W.. as
; 'ooK and Walter l.. Hin. L. c
ALLIED CONCERNS /
!, an addition to the stores alread,, ,,,o, !
~ionto ~ there are the foIlowing ma !
-. unoerns' The New Hampshire prn,,s
~ y = company. concord, n. II. a New
o. III, eorPorstion; John r. Towle (,
Z -, Incorporated, OF Mancbos,aa,o wy
J.. New Hampshire eorpora 49, ~. !
,sKe Champlain Provision co,, ,.,.i,. IN
burlington, VI. New Hamnshirl p1s
,o'suon, and the Maine Provisio, 90 {
!. >; compfCy, 235 Commercial stran, !
" ,ahu, Me-, corporation
ASKED as TO the exact nature -, ~ :
~ ~ ION oeV"een these concerns and
ne r,. Dig corporation, Mr.. Chaplin ssid.
uney must stand or fall with N Rn,
lner individuals own stock in these i
onpsnles. various assignments haye I
sen made. covering the different intsr {
sts OF the big corpora ton ana me- =, ,
ne anhated concerns" -
= ne revenue stamps fixed 10 the vari- ,
,anO aggregate
ne business was founded by John p
,ulIe on April 30. lS42. when he form I
/, copartnership with Francis Russeu :
revision dealers In Faneull Han MA
-L after I've years Mr.. squire was
~ ~ until 1855. when the J. Squire
'rnVsny nrrn was established 20 han
2 hoe products. From this beginn.ng
fe third l1rgest parking house in the
'untry rose, and its business OF late
'ars has exceeded $4,000 900 annually. !