Source: North Manchester Journal, September 7, 1893
Smith's Book Store
It now turns out that the affairs of A.P. Smith are in a much worse condition than was thought at the time of writing an article which appeared in last week's paper. Following the mortgage given the Lawrence National Bank, as stated last week, which was for about $2,800, and the attempt of the Warren hotel people to secure their claim for the security money, on the bond of Winesburg and Grim, other creditors began to come in and push their claims. The wholesale house of Brown, Eager & Hull of Toledo, secured a judgment before 'Squire Ridgley last Saturday morning for something near $1,400 for money due them. Under the judgment they levied on the stock and closed the store but the keys were afterward turned over to the bank which holds the prior claim and the stock is still in their possession, the store remaining closed. The restraining order forbidding Mr. Smith from incumbering his stock was dissolved by consent of the plaintiffs in the suit and Mr. Smith gave Sam. Noftzger an indemnifying mortgage on all his property to secure him against any loss he may sustain as co-security on the bond of Winesburg and Grim. No statement of Mr. Smith's condition has been made public but it is generally understood that his liabilities are about $12,000 with assets probably a little in excess of that amount. It is also understood that his grandmother, Mrs. Reed, who has gone his security for several debts, may possibly become involved. No settlement of the affairs has yet been reached though we understand that Mr. Smith is making an effort to secure funds with which to tide over the present embarrassment and be able to resume business. We hope he may succeed in doing so, but if he should be unsuccessful a disposition of the stock will become necessary. The JOURNAL hopes that some turn may be made by Mr. Smith that he will come out all right. Only the present hard times for getting money are against a realization of his plans which he would have no trouble in maturing in ordinary times.
Source: North Manchester Journal, October 5, 1893
Yesterday John W. Domer, as assignee of A.P. Smith, under an order from court, sold the stock of books, wall paper, stationery, etc., heretofore known as Smith's book store, to George Burdge for $5,000. Mr. Burdge has been the only buyer who has appeared and the sale is generally conceded to be the best that could be made. Mr. Burdge now has possession of the stock and will continue business at the old stand. He expects to make some big reductions in some lines in the stock and in order to do this will make big cuts in prices. He has gone to Chicago to make settlement with the electric company for which he has been traveling and also to purchase some lines of goods needed in the store. Mr. Burdge needs no recommendation. He is well known, generally liked and will succeed to a good trade. He tells us that he expects to make it an especial feature of his business to give his store the reputation of very reasonable if not cheap prices for all goods. Mr. George Craft, the accommodating salesman who has been identified with the store, will be retained and will be glad to make it pleasant for all old customers and the public generally.