The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-02-17
CLAIMS AGAINST GAMER
Has Large Overdrafts at Several
Banks.
CAUSE OF THE. FAILURE
Didn't Recover From the Effects of the
Panic-Lost Money in a Helena
Book Concern-Will Pay
Every Dollar.

The list of creditors of Fred Gamer
showed that he is indebted to Hoge,
Brownlee & Co. of Butte on overdrafts
for $4,000 and the Union bank of Hell
ena for $14,500. r. S. Hamilton OF Hell
ena also has a claim for $4,000. The
other claims against Gamer are small
by comparison with the above. In
speaking about his rather surprising
failure, Mr.. Gamer is quoted by the
Helena Independent as follows:
Mr.. Gamer has been in the shoe bust
ness in this city the past 80 years, be-
ginning with a little shop In which he
worked at his trade as shoemaker.
Later on he added small stock of
manufactured goods The business grew
until finally tile l,tle shoe shop was
lost sight of in the overshadowing busi-
ness of retailing the shoes made by 9TH
ers. More and more prosperous did
the business become as the years went
by. Branches were established in Butte
and then in Anaconda, and hnally the
one time shoemaker became recognized
as the leading shoe dealer of the state.
For rs years Mr.. Gamer thrived
steadily, every year adding something
to his wealth, and before the business
depression set in a few years ago, he
considered himself worth at least $75,-
900 above all liabilities. Then came a
reverse-frst loss of trade on account
of the depression, until the Helena and
Anaconda stores began to lose money,
then destructive sacrifice on heavy
stocks of "needle-toe" shoes when they
went out of style as suddenly as a snow
ball melts under a July sun, and on top
of all the swapping financially of the
Helena Book & Stationery company, in
which Mr.. Gamer had become interest
ed through the fundamentally of a
friend.
90 I bore up under all my reverses as
long as l could Mr. Gamer said last
night, but finally I reached point
where it began to get too dark. I could
not see my way through, and I was
not going to assume any risk with 9TH
er peoples money. Therefore the only
way was to go into bankruptcy before
my assets had become so far impaired
as to make it impossible to pay every
dollar 1 owe.
My downfall is due chiefly to my
unfortunate connection with the Helena
Book & Stationery company, which was
poorly managed. 1 knew nothing about
it, trusting to the integrity of those in
control of 1T, and when made the dis
covery 1t was too late to get out. l do
not mean to say that there was any
dishonesty in the management of it,
but simply poor judgment. 1t was man.
aged on the same basis as a champa gne
appetite with a beer income. I sank a
large amount of money in it that would
have enabled me to bear my losses in
the shoe business Hnd pull through all
right ~
Butte store. That has made little
right along, but my store here and the
one in Anaconda have gone behind a
great deal, the past year and a half to
two years especially, since those needle
toe shoes went out Of style. You see
I have always kept my stock right up
to date in every respect, for I had the
best trade of the three cities. There
fore when that style. of shoes came out,
| we had to lay in heavy stocks of them
| to meet the demand. But as soon as
they went out of style. nobody wanted
them. Those who follow the styles,
of course, would not buy them, and
| those who do not care for style would
not have them even at job lot prices.
So there we We're Well, we have been
working them off ever since at whatev-
er we could get for them and now we
have very few of them left.
I have not a creditor who has been
| crowding me. l have not got one who
would not extend me credit probably
to double the amount I owe him. Not a
suit has been brought or threatened. I
simply could not see my way clear to
| go ahead and risk my creditors money.
l have never had a blemish on my in
tegrity since l have been in business,
and 1 want to maintain that record.
That is the reason / am tonight a
bankrupt @
And / shall stand by you to the
end, though we both have to go back to
the days when we toiled and struggled
together to get a start were the dleer-
ing words of the noble wife, who sat
and participated in the story of her hus-
bands financial trouble. Mr. Gamer
has been as honest as any man ever
could be in business she added the
tears almost starting to her eyes, and I
have encouraged him to take the step
he has so that above all his honor may
stand unquestioned, as it always has
The kind words and sympathy we have
already received from friends who have
learned of our trouble has been the
source of much qualification to u.s. con-
Guided Mrs. Gamer, her voice trembling
| with emotion"