Pennsylvania 1917/18 Diehl Pottery Bankruptcy Bank Lawsuit Lawyer Letters for Sale

Pennsylvania 1917/18 Diehl Pottery Bankruptcy Bank Lawsuit Lawyer Letters For Sale

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Pennsylvania 1917/18 Diehl Pottery Bankruptcy Bank Lawsuit Lawyer Letters:
$75.00

Pennsylvania 1917/18 Diehl Pottery Bankruptcy Lawsuit Lawyer Letters

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DESCRIPTION & CONDITION:

First we have a January 29, 1917 letter noting that the Board of Directors of the Diehl Pottery met and discussed the financial condition of the pottery. We then have letters dated May 17 and 24, 1918, on the letterhead of Niles & Neff, attorneys of York, Pennsylvania, to Benjamin Stoner of Hallem, Pennsylvania (one of the Directors of the pottery), reporting no progress on getting anybody to agree to make a deal with bonds or other financial instruments to pay off the pottery’s debt or outstanding interest, and that Mr. Hoober & Mr. Luffbarry (presumably agents for the bank) will now file suit against everybody involved- “It now looks to me as if there was nothing to be done except bankruptcy for the Company and for the individuals…I am sorry the prospects are so gloomy, but I can now see very little light”. In fact, the bank, in the person of Luffbarry, went after Mr. Watts alone, and on September 21, 1918 got a judgement against him for the full amount of the note plus interest, despite his defense that six other directors had also signed it. The July 1, 1919 Brick and Clay Record reported- “The Diehl Pottery Works, Perkasie, Pa., has been acquired by the Morris C. Max Co., Allentown. The company has been manufacturing roofing tile and other specialties, and the business will be discontinued. The purchase includes machinery at the plant, equipment and stock, and will be disposed of in the open market”. From a small collection of correspondence of Benjamin Stoner of Hellam, Pennsylvania, who invested in a variety of mining and other speculative stocks in the early 1900s and then, unfortunately, invested in a pottery.Three 8.5x11 letters. Folds, minor soil, light wear.

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Stock #55448

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