The following is a showing of our losses, including the assessment, all occurring in the space of about nine months:
Crops destroyed by grasshoppers, - - $4,000
Crops destroyed by drought, - - - - - 3,000
Burning of woolen mills, - - - - - - 30,000
Losses in Idaho, - - - - - - - - - - 6,000
By assessment on scrip, - - - - - - -10,000
Total, - - - - - - - - - - - - - - $53,200
We were then compelled to raise, within eighteen months, $30,000 (thirty thousand) independent of the $45,000 (forty-five thousand) required during the same time to carry on our home industries.
Thus there appeared but one course left for us to pursue, viz: curtail our business, close several of our departments, lessen the business of others, and dispose of such property as would assist in discharging our cash obligations, thus making every exertion to outlive our misfortunes, and save ourselves from being totally wrecked. Accordingly we have labored faithfully to this end, and, although no one has made any abatement of his claims against us, except Zion's Co-operative Mercantile Institution in canceling the interest on what we owed them, we are now nearly out of debt, having but one cash obligation to discharge, of $2,500 (two thousand five hundred), to Zion's Co-operative Mercantile Institution, which will be paid this fall.
Our checks, in the hands of employees or other parties, have all been redeemed, with the exception of a very few which we are prepared to settle whenever presented.