Jasper County Democrat, Volume 14, Number 5, Rensselaer, Jasper County, 22 April 1911 — RANSFORD IS SOLVENT [ARTICLE]

RANSFORD IS SOLVENT

Assets Exceed Liabilities By Four Thousand Dollars, It Is Said. The Democrat is informed that- the invoice of the Ransford Department Store shows an excess of assets over liabilities of four thousand dollars. That is, the assets are $16,000%nd the liabilities but $12,000, in round numbers. ' The Geddes Shoe Co., one of the heaviest creditors, has filed a petition in the federal court to throw Mr. Ransford into involunta>y bankruptcy, but has put up no bond, and the store was opened yesterday for business once more. The hearing is set lor April 28, and pending the hearing the store will be open for business, as usual. The bankruptcy proceedings will be contested. With so large a business to look after and the, in a measure, neglecting his legitimate line in real estate transactions, Ransford has got in rather close financial quarters, but it is 'hoped the trouble is but temporary and that he will be able to get from under with considerable property left. He is sacrificing his stock to meet creditors’ claims, and if the report we have of his condition is correct he will soon be on 'his feet again.