The Newtown bee., 1903-11-13
NEW MILFORD.
FAILURE OF SUFFER BROTHERS.

FAILURE OF SUFFER BROTHERS.
 There is sincere regret on all sides in the reported failure of Sutter Broth CTS, who have a warehouse here and were large buyers of Housatonic and Connecticut Valley tobacco. Vincen, Sterling, their representative. is well liked among the farmers for his fai' treatment of them. MT Sterling ha> employed upward of 100 hands at hi> warehouse, and if it remains closec this winter, it will be felt in the town Mondays Hartford Courant sad: A Chicago dispat oh last night announced the failure of Sut ter Brothers, the well known leaf tobacco dealers. with ex tensive establishments in Chicago, New York, St Louis and Havana. Or the assertion that the action was taken to protect creditors, a receiver was ap pointed, the Chicago Title and Trust company being named. Liabilities ar. placed at l,5OO,OOO, with assets ex- ceeding that figure by $1.OOO: O:0OG. It has been rumored in the tobacco trade for some months that the firm was in financial difficulties, although there was an impression that Lyman J. Gage, formerly secretary of the treasury, was in some way behind the Sutters It is said that Sutter Brothers have for some years been the largest leat tobacco dealers in the country. They are well known in this section, where they have been extensive growers and buyers of tobacco. They are interest ed in the International Tobacco Gull ture Corporation, which has large tobacco plantation in Bloomfield for the growing of shade-grown Sumatra For some years the firm has had 8 warehouse on Burnside avenue in East Hartford and year ago big addition to the barn was built. The interests of the Sutter Brothers in this section formed only very small part of their operations, and they were not the heaviest stockholders in the Inter- national Tobacco Culture Corporation, Harry Reeder and other prominent Ohio tobacco men being associated in the enterprise. Sutter Brothers failed about 15 years ago, but the firm has been doing an apparently successful business since then, and on a much more extensive scale than formerly. A Chicago dispatch last night said: William c. Kiblack and Eugene O. Pearson were appointed receivers by Judge Kohlsaat, who fixed their joint bond at.$l, ,OOO, ,OOO, the largest ever filed , in local bankruptcy court. "Accord' ing to an inventory taken last week, ; said Receiver Niblack Monday night
 "the liabilities of the firm amount tt about S3OO, ,OO0 less than it's assets. The 1 immediate reason for the bankruptcy is that Sutter Brothers have been carry
 ing an immense stock of tobacco anC have of late been unable to obtain money with which to support thi. load. There is no truth in the report that there is dissension among thu members of the frm.'' Edward A Sutter, one of the six brothers who compose the firm, admitted that thu fight against tue American Tobacct Go. had crippled the resources of thu firm. Another representative of Slut ter Brothers said that although tn,
 assets nominally exceeded the liabil l ities, yet it was possible that creditor
 would uot receive full payments 0
 their claims. Sutter Brothers wen
 through bankruptcy proceedings abou
 20 years ago, but did not incorporat'
 the present company until 1898. To
 bacco growing on a large scale wa
 carried on by the company near Della
 van, Wis, and drying houses wer
 erected at Madison. The receivers tool
 possessionof the property Monday nigh
 and proceeded to invoice it Tuesday
 It is expected that it will take about
 week to arrive at an exact statemen of the firms financial condition.
 ! GAYLORDSvILLE AND VICINITY.
 | The Epworth League will hold