Evening Republican, Volume 15, Number 176, Rensselaer, Jasper County, 27 July 1911 — RANSFORD BANKRUPT STOCK SOLD TO D. A. KLOETHE. [ARTICLE]

RANSFORD BANKRUPT STOCK SOLD TO D. A. KLOETHE.

Stock Will Be Closed Out in Renssei ; laer In the Next Sixty Days Or Sooner. s. The Hansford bankrupt stock of merchandise and fixtures was Wednesday sold by Trqstee Spitler with the consent of Referee Burnett to-Du A. Kloethe, of Piper City, 111. The price paid was $4,000 cash, which is considered a very good sale. Mr. Kloethe came to town in the. morning with a certified check for $5,000 prepared to do business. After looking over the stock and invoice he offered $4,000 in cash for the stock and fixtures. A meeting of the creditors was hurriedly called and after trying%to induce Mr. Kloethe to raise his bid and getting the consent of the referee his offer was accepted and the deal was closed. Other offers were received for the stock but none of them exoeeded $3,000, and some were much lower than that figure. The stock was appraised for sale at a little over $3,000, but the invoice showed the stock to be worth $9,801, but this was considered much more than its real value. The sale is considered a good one for the creditors. Some equity in some other property yet remains to be disposed of, which will increase the .assets a few hundred dollars. r 1, Mr. Klqethe is an experienced man in this line and will open a big sale here next week and try to close out the stock in the next sixty days. He is making arrangements for a big sale, which wlll .be exploited'through The Republican and other means. He has sent to Piper City, where he has ..a large store, for clerks to assist him withMhis sale.