Rensselaer Semi-Weekly Republican, Volume 35, Number 122, Rensselaer, Jasper County, 6 October 1903 — Jesse Fry Makes Assigment [ARTICLE]

Jesse Fry Makes Assigment

Rose Lawn's Leading Business Man Forced To The Wall. Jesse J. Fry, batker and general business man of Rose Lawn, and onu of the beet known business men along the Monon road, made a voluntary assignment, last Saturday. The cause of hie trouble seems to have been through his connection with a house, and whoss drafts and check he held to the amount of S6OOO These he had deposited with another bank and they came back to him protested. This started the other banks after their money and caused such a run on Fry’s bank, that he was temporarily unable to meet it without too great a a sacrifice so he made an assignment. D. K. Frye, another leading Rose Lawn business man, is appointed his trustee, and will continue the bank in business as heretofore. Mr. Fry says every depositer and every other claim will be paid in full and that his assets are twice as great as his liabilities, Also that he has notes against sound farmers around Rose Lawn more than sufficent to fay all his depositors, in full. And 3oon as all claims are paid, dollar for dollar, he expects to resume business in his own name. Several good men offered to back him and prevent the assignment, but he preferred the latter course. The people of Rose Lawn and vicinity have every confidence in him, and the dipositors in his bank are not worrying any about their money.