Rensselaer Democrat, Volume 1, Number 11, Rensselaer, Jasper County, 24 June 1898 — Paid His Creditors in Full. [ARTICLE]

Paid His Creditors in Full.

A case of rather remarkable commercial honesty has just come to light. In 1875 one of Springfield's well-known shoe dealers found himself so embarrassed by depreciation in value of stock and the difficulty in collecting accounts that he failed and made a compromise with his creditors of 50 cents on the dollar. After twenty-two years the merchant, now considerably over 70 years old, has settled all these old claims in full, paying the balance unpaid at that time, amounting to sevefal thousand dollars. There was no claim on him other than that of his conscience. All his creditors had signed a paper acknowledging their satisfaction, and. in fact, a large number of original papers had been destroyed, so that the merchant had to settle in accordance with tlie figures he had in his possession, paying over the money in some cases to heirs or to surviving partners, who knew nothing or had nothing to show of the original transaction. The conscientious old shoe dealer is very anxious not to have his name appear—his act would lose its merit through advertising. he soys. A good deal of the money that he has thus paid back has been pounded out on the shoemaker’s bench.—Boston Transcript.