Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-03-15
Drake Mill Ann ono
Big Creditors Of
Consume rs Stores
league ! Enterprise Had E, Ex-
! pended Over Hall Million
Dollars Since Formation In
1917; Receiiver:hiiipp = > Is
Granted By Judge NOEL
& ring On Voluntary Bank
al rluptcy Petition.
(Herald Special Seryice.).

~. u II lslti 3 -s3S 4
u ---'3-.E.=5 5s.i5j jirs.
ss fHerald Sneci.I Service So 81
sfsSar;nat ~. - rSs-s,.is,r n. i Is, :. -.
N. =, MarcA Ao.Ane - Con- CON
,.sumers' United Stores Co.. one$o the
4 financial enterprises AFFILIATED With the
Ma, =, ,.t;s. ,a,.,,, -, ,,.,,,;,,, - -,
s3--.s. -, s.S''A e, ie''9 1o ~ ~. -.
seSssNV ;sesaVer mas oeen appointed py sudge
&G.s III. Moellring of the Ward county
idfatrict court followine the. f,linp of
/, -, ,,s.,.,.,., -, :, -.
sss. ~ ~! .ss upsey'
yves the state mill at Drake $l6,5 >,
4 $AScording to statements made in the
\ ai,,,St,+;o, N.
sSpraanno,h1v +h,s u y,ar+ 81 tho
\ jSSranaw d,a TIC no,N SoSs 'tha sAoo 900
e-nrth ~ anmr ahinnaS to INC, sfnres
~ tho Ia.v,a an+arprisa' On conaipn-
EM,ant !, a ,rSs rovaaiad nv the audit ra-
rSrt ~ R;shon Rr;ssnoan z, a.
ssss. = '. 81
Banks Among Creditors.
Other creditors of the organization
md the amounts due them are: Scan
I dihavian- American bank, Fargo,
$500, 900; Peoples State bank, Grand
Forks, $500; State bank of Deering,
$2,25O; First National bank Of Bis
;mArck, $500, and state pank OF
5ss1I1Ska' !,,,' 91,zoY. -
ne receiversnp proceealngs re-, re-,
sxealed tne Iact ina. Stne consumers
! stores company nao expenoel ap-
nan mliiion tuo4iats
4 since &c us 1ormation ~ Isl;
baiancee !, asa.A .a !. .hls at;e .ue !, ' =
pany mas % stores ~ opelasioAi 1. a. ~ as
s ny ~ unls1n. s.,s HCA.s - - -. :,
while it still holds notes aggregatins
ABOUT $sVo,oVV' given 70 tne co,hpaay
3@Dy farmers WHO were pleva.su .r.:9 upoi, -.
Slo pay, $lVo eacn ior Lne prtsiiese , "
$Dtuylng merchanolse lron uae com- a
# pany's stores az certaln AAee PEI.
Mcentage over. Wnoiesape cos' u .Ae
ssarticies purcnaseu.
5 'Altnougn tne onclals OF tne com
pany cam INA. ~ s ene, aese.s eHn "a ne ,;n
/ h,,,t;as ~ nn,v ssoo ooo thew admit
\ that most Of the assets are In the
FORM Of unpaid notes, and while it is
declared that the business will be re-
snmed in the fall. the statements od
&decidedlv doubtful tone.
So It annears quite likely that the
Sum ana Elevator. association will
'aTnva q f,,rtler drf1cft tn add to, thai
~ sae 400 already incurred.
r-.-,-.-.., ,r....,....,., {
s'vs'E s.al Hshs's'5sss 4nse' .,, s.
The voluptary Yetilon " hahK. ~. X.
= -
FL, Griffith OF Fargo. president OF ths
company, and James Wenstrom Of
H Dover, vice president. Judge Moellrtns
& appointed w. e. johnson OF Fargo
4 secretary and treasurer of the com
n pany, as temporary receiver.
A hearing in the case Will pc helc
4 at Minot on April 8.
A was organized under the direction Of
a number Of the leaders of the Non.
partisan as n teasnv sr;n.s ~ n.rt. nf ne state
About two Years ago the concerr
was reorganized under the direction
Of H. a. Paddock. now secretary o1
rn,..ion. ,r an
ul's' :. s.,a
Larlmore oCore ooAu
In connection with the announce
! n1ent that a receiver has been appoint
ed for the Consumers United store'
4 Co., it is of interest to note tnat t;a. Dll
{ ~ " stie the register ~ Of deeds Of, Crane
Forks county by which for con
sideration Of 5000 the Consumers
United Stores ca. establishment a
Larimore, N. D., was sold to the fol
q& lowing men, Fl. G.. Link, G. S. Grams
berg, A. B. Temple, John Jodock. F
.,O. Larson. H. p. Peterson. H. L. Tenn
ard Larson, Charles II. Larson, Johl
~. Haugen, P. II. selander, f.. w
Bronson, Frank o. LARSON, John An
4 derson, Olof Olson, and Sam Hillestad
i. The bill Of sale includes all stool
goods ETC., in the store, as well as al
. notes ETC., held by it. with the excep
\ put up as collateral with the lScandi
+ nc vyfo n "a orlrQn RAnk or FATGO. b