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Commercial
July 22, 1893
The New North West
Deer Lodge, Powell County, Montana
What is this article about?
The J. Chauvin Northwestern Furniture Company, a major Butte business, made an assignment at 1 AM on July 19 with $100,000 liabilities and over $170,000 assets. Preferred creditors include W. A. Clark & Bro. ($65,000). Assignee: J. H. Heslet. Cause: installment plan sales and slow collections.
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CHAUVIN FURNITURE CO. ASSIGNS
The Company Fails for $100,000 With $175,000 Assets Behind It.
The J. Chauvin Northwestern Furniture company, one of the oldest and most prominent business institutions of Butte, made an assignment at 1 o'clock this morning. Chauvin is also president of the Northwestern Reserve Investment company, a newly organized institution, and is interested in the new Butte hotel and other enterprises of this city. The J. Chauvin Furniture company is one of the largest institutions of the kind in the West and has been doing a big wholesale and retail business in Butte for many years and Mr. Chauvin has been one of the most enterprising of her business men. The liabilities are $100,000 and his assets are over $170,000. The preferred creditors are W. A. Clark & Bro. for $65,000, Lee Mantle, H. A. D'Acheul for about $1,000 for rent due, and other local creditors. Eastern men are the last on the list. The assignee is J. H. Heslet. It is believed that all creditors will be paid dollar for dollar on all bills; no inventory was made on the stock, but that alone is valued at $100,000 and the real estate at from $10,000 to $12,000. The cause of the assignment was doing business on the installment plan and slow collections. -Miner, July 19.
The Company Fails for $100,000 With $175,000 Assets Behind It.
The J. Chauvin Northwestern Furniture company, one of the oldest and most prominent business institutions of Butte, made an assignment at 1 o'clock this morning. Chauvin is also president of the Northwestern Reserve Investment company, a newly organized institution, and is interested in the new Butte hotel and other enterprises of this city. The J. Chauvin Furniture company is one of the largest institutions of the kind in the West and has been doing a big wholesale and retail business in Butte for many years and Mr. Chauvin has been one of the most enterprising of her business men. The liabilities are $100,000 and his assets are over $170,000. The preferred creditors are W. A. Clark & Bro. for $65,000, Lee Mantle, H. A. D'Acheul for about $1,000 for rent due, and other local creditors. Eastern men are the last on the list. The assignee is J. H. Heslet. It is believed that all creditors will be paid dollar for dollar on all bills; no inventory was made on the stock, but that alone is valued at $100,000 and the real estate at from $10,000 to $12,000. The cause of the assignment was doing business on the installment plan and slow collections. -Miner, July 19.
What sub-type of article is it?
Appointment
Economic
What keywords are associated?
Company Assignment
Bankruptcy
Furniture Business
Butte Creditors
Installment Sales
What entities or persons were involved?
J. Chauvin Northwestern Furniture Company
W. A. Clark & Bro.
J. H. Heslet
Northwestern Reserve Investment Company
Where did it happen?
Butte
Commercial Details
Location
Butte
Event Date
July 19
Commodities
Furniture
Key Figures
J. Chauvin Northwestern Furniture Company
W. A. Clark & Bro.
J. H. Heslet
Northwestern Reserve Investment Company
Notable Details
Liabilities $100,000
Assets Over $170,000
Preferred Creditors W. A. Clark & Bro. $65,000
Stock Valued At $100,000
Real Estate $10,000 To $12,000
Cause: Installment Plan And Slow Collections