Publication: Electrical Doings
New York, NY, United States
THE E. S. GREELEY & CO. IN
The E. S. Greeley & Co., manufacturers of telegraph and railway supplies and electrical apparatus at 5 and 7 Dey street, New York, on October 7 issued the following circular to its creditors:
We regret to announce that we have been compelled, by reason of the business conditions which have prevailed for some time past and which still continue, to apply for the appointment of receivers of the corporation, and, accordingly, Messrs. Edwin S. Greeley and James W. Sands have been duly appointed as such.
The receivers propose to proceed with all diligence to realize upon the assets of the company to the best advantage, and we sincerely trust that we will be able to pay our creditors a substantial portion of the indebtedness due them respectively.
This step we feel to be for the best interest of all the creditors, and it has already met with the approval of those whom we have consulted in this vicinity most largely interested.
The liabilities are $160,000, of which $65,000 is for merchandise and $70,000 due on notes. The assets are $180,600.
The Greeley company stands for all that is upright and honorable in trade circles and the names of its receivers are synonyms for honesty and integrity. We hope the embarrassment will be of short duration.
|Keywords:||E. S. Greeley & Company|
|Date completed:||November 2, 2009 by: Bob Stahr;|