A Local Grocer Succumbs to the Great Depression
After two years of economic stagnation, a prominent merchant is forced to assign his property to creditors, marking a somber milestone for Aberdeen's business district.
The story, cleaned up
A cleaned-up reading of the newspaper page: spelling and layout repaired, one story lifted off a crowded page. It follows the original closely but it is not a transcription. The original page is below; read it if a detail matters.
While Aberdeen has, as other cities throughout the country, been considerably oppressed in consequence of the almost unprecedented business depression of the past two years, and at present, all of her merchants have, until Monday, been able to withstand the burdens caused by the hard times. The first to succumb to the effects of stagnant business is I. W. Emery, dealer in groceries, who together with his wife, have made an assignment to J. D. Moorhead of all their real and personal property for the benefit of their creditors. Mr. Emery has made a manly, conscientious and honest effort to meet all obligations, and rather than oppress those whom he had favored and was depending on for financial help, he concluded to take this step that all his creditors might share alike, hoping thereby that none will sustain any great loss. In his misfortune Mr. Emery will have the heartfelt sympathy of his many friends. His liabilities are $7,000, with assets estimated at $12,000.
“Mr. Emery has made a manly, conscientious and honest effort to meet all obligations.”
The economic anxieties of 1894 feel hauntingly familiar in contemporary Aberdeen. As in the 1890s, the health of our local small businesses remains tied to global economic forces and the resilience of our community networks.
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