Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1900-01-12
LIABILITIES OF s15o.ooo.

Failure OF w. IT. Minor Due 60 Trans
actions Years Ago when lie Conduct
ed Large Commission Business In the
Wes,---VaIIey Grain Company Not
Involved.
A business failure nominally large, but
of practically no significance so far as Local
or recent transactions are concerned, oc
CURED Saturday when w. II. Minor, man
ager of the Valley Grain company, filed a
voluntary petition in bankruptcy. The
liabilities cannot be told exactly, but they
are not far from $4,000. The assets
according TO the schedule, are $40, l19, but
as they consist almost entirely of unliqui
dated claims due Mr.. Minor when he went
out Of the grain business in the West II
years ago 1t is rot likely that anything
will ever be realized on them.
Mr.. Minors local liabilities amount To
about S12, 900. OF this over amount $1,000
are contingent lab lities, notes bearing his
signature, which are good, leaving an
actual Indebtedness Of from $4,000 TO $4,000,
and this is likely TO be considerably reduc.
ed. The largest local creditors are Mrs.
James +. Estey and Chas. Miner Mr..
Minors largest western creditors are
Haynes, Gordon & Co., of Chenoa, Ill. ,Sl5,.
600; the Commercial bank of Peoria, ILL.,,
$4,000; Zell, Hotchkiss & Co., of Peoria,
$4,000 and other brokerage houses.
These claims are against Mr.. Minor per.
sonally, the Valley Grain company being
in no way involved in the failure.
Mr.. Minor had at one time a large
amount of money, and he was in fair
way TO become a millionaire, but through
series of unfortunate circumstances
which could not be prevented his aecumu-
lations were wiped out and he was left un.
der heavy obligations. Having had some
experience In the grain business he went
West in the early 70's TO enlarge his field
of operations, making his headquarters In
Peoria under the firm name Of Minor
/ Green 81 Co. In 1878 the firm was
changed TO w. II. Minor & Co., with
branch offices in Lafayette and Evansville
Ind, also in St. Louis, Mo-, under the
name of Haynes, Minor d Co ; in Cincin.
natl as EAston, Minor & Co. in Detroit as
Minor, Sumner d Co. and in Chicago as
Minor, Richards e. Co. All of these firms
were successful, handling immense quaint.
ties Of grain and clearing up large profits
until 1882. In that year Mr.. Minor crib.
bed 600, 900 bushels of corn with the inten-
ton Of Smelling it in the following spring
The corn did not cure well, and 200 car
loads of it which was shipped to Kentucky
had to be shoveled into the river. On that
transaction Mr.. Minor lost S22j 600
In the following year Mr.. Minor went 10
Chicago where he continued in business
under the firm name Of Minor, Richards &
Co., Withdrawing from the other firms
mentioned. Here he was successful until
McGeoch of Milwaukee, for whom Minor,
Richards q Co. were commission brokers,
attempted 10 corner the lard product in
Chicago. McGeoch failed and Minor,
Richards IL Co. were left with a large
quantity of lard on hand which they dis
posed Of at loss Of $4,000
These and other transactions of a SINH.
lar nature are what have brought about
the failure, fastened by the pressure OF
some Of the western creditors, and 1t is for
the purpose Of clearing up this old indebt.
edness that Mr.. Minor has gone into bank
ruptcy.