The Vermont Phoenix, Brattleboro, Friday , January 16, 1891 Whitingham news The Reported Financial Troubles of the Deerfield Vally Shoe Company Wit regard to the failure of the Deerfield Vally Shoe Company we learn tht the facts are tht a good business was done until the general financial disturbance began in November, when the company had orders for $20,000 countermanded, over $16,000 of which was in process of manufacture and was consequently tied up as so much dead property. This disorganized the force of 80 hands and caused a large loss. At the same time losses were caused by the failure of concerns at the business centres. The total losses thus sustained amounted to nearly $12,000 and so reduced the resources that the inventory of December 31 showed assets of a little less than the liabilities. Notice of the exact state of affairs was sent to creditors and a meeting called for Jan. 7, in Boston. At this meeting the creditors expressed satisfaction with the honest showing and voted to accept 65 cents on the dollar and have the business continued. It is expected that this arrangement will be carried out. Through this courteous action of the creditors it is probable that no regular failure will be made, necessitating a formal assignment, but that the affairs of the company will be satisfactorily adjusted by mutural agreement. The company will have the dood wishes to this effect of every one locally, and for its future prosperity. Transcribed by Ruth Barton -- Ruth Barton mrgjb@sover.net Dummerston, VT