Monday, October 1, 2007

mortgaged once again

from the Baltimore-Pritchett collection

Successful functioning of the enterprise must have been hampered by its owner's unstable finances. In the early part of 1858, not long after the panic of the Previous year, Marchant was forced to mortgage once again the Factory and property at Pireus to secure a debt.

At that time his storehouse at the factory site stocked a variety of goods which indicated that, at least temporarily, events had pushed the textile business into the background. Hats, caps, ready-made clothing, hardware, cutlery, earthenware, china, shoes, and boots comprised the inventory. This, too, was mortgaged.--Harry Poindexter

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