People's Pilot, Volume 2, Number 51, Rensselaer, Jasper County, 9 June 1893 — Failure in Joliet, Ill. [ARTICLE]

Failure in Joliet, Ill.

Joliet, 111., June s.—The old veteran stone company of Sanger, Moody & Steel made an assignment in favor oi their creditors, with assets aggregating $177,700 and liabilities only SOB,OOO. The bulk of the liabilities are with the bank, which are more than secured by trust deeds. The firm was compelled to assign because they could not get monfey to go ahead with their business and could not sell their stone. The government owes them $85,000, which they cannot get, and with the banks pressing them for money they wer*» forced to surrender.