Tootle Lemon Bank Wisconsin Lumber Receivership Correspondence, 1894-1898
Entry/Object ID
AM2018.18.38
Scope and Content
Tootle Lemon Bank Wisconsin Lumber Receivership Correspondence, 1894-1898. (2 folders) Evidently the Tootle bank had financed the inventory and factored accounts receivable for a Wisconsin lumber broker, Albert Silverthorne. Silverthorne was also a personal friend who took summer homes near the Tootles in O. Wisconsin and Mackinaw Island.
At some point Silverthorne's business went under and he had trouble collected debts owed him. One of his main debtors, Damon Lumber also suffered from some type of embezzlement or disagreement with his employees about money due his company. In addition, Silverthorne's mother had co-signed on some of his notes and was anxious to get out from under obligation.
Both Silverthorne and Damon went into receivership and their inventories and collections managed by a Garrett Farwell.
After the first difficulties in 1894, Silverthorne went to work for other Lumber companies. By 1898 much of the difficulties had been settled. Tootle Bank was part of the creditor syndicate hoping to recover as much of their funds as possible.
