Rensselaer Republican, Volume 22, Number 4, Rensselaer, Jasper County, 26 September 1889 — Another Heavy Fallert. [ARTICLE]

Another Heavy Fallert.

One of the most startling reverses which it has been our painful duty to record of late his fallen upon the house Higgins & Daughter. Upon examining their books, Higgins & Daughter made the discovery that their liabilities amounted to 563 calls, while their assets were but forty-five days in wnich to pay the name. It was, therefore, considered necessary to suspend. The affairs of

the firm are in the hands of the credit ors, and it is hoped that a satisfactory arrangement may be made. The cred ■ itors have offered to accept five-minutt calls in full payment for evening visits, and three-minute calls for visits in the afternoon, which include the bringing of knitting work and stopping to tea. Higgings & Daughter,however, considthese terms unnecessarily onerous, and it is not probable that they will refuse all attempts at compromise and allow their affairs to be settled by the sewing society. * reported that the immediate cause of the failure was the long indisposition of Mrs. Higgins, together with the certain attentions paid to the daughter by an eligible young man, who was supposed to have thoughts of matrimony; but there are those who affirm that both parties in the firm have been operating outside their corporate sphere, and that Mrs. Higgins has in this way and in her private capacity contracted a debt of nearly a hundred calls, while the daughter has also assumed even heavier liabilities on her own account in the same way. What the outcome will be it is impossible to predict at this time, but it is feared that the firm will be forced into bankruptcy.: The Wildings, who have visited Higgins & Daughter some twenty or thirty times, are very bitter. Not one of their visits they say has been returned, and they present a claim which, with interest, amounts to sixty-five calls of average duration. The Mixers are also greatly incensed. They assert that Higgins & Daughter assumed liabilities with no intention of ever canceling them, and they will insist upon full payment and will accept no compromise. The Blands, however, have expressed a willingness to forgive the embarrassed firm its indebtedness to them; but tlieir apparent generosity is suspected to be the cover of ulterior motives, and that privately they are determined to so cripple the firm that it cannot ever recover its credit in the call market, and thus be forever shut out from the transaction of business.

There are rumors of an attachment having been placed upon the firm, and that Miss Stayer has been put in as keeper, and that she has already entered upon her duties and wiil remain with Higgins & Daughter until the affairs of the concern are settled. From what we know of Miss Stayer, we cau assure the creditors that she will faithfully fulfill her duty, and she will not only prevent the firm from incurring further liabilities, but she will also see to it that none of the creditors are favored by return visits in preference to the others.—Boston Transcript.