Natchaug Silk Company Closes
Title
Natchaug Silk Company Closes
Description
Natchaug Silk Company goes into receivership after it is discovered that the late Oliver Risley had embezzled money. Banks pull their support, forcing the company to close their New York, Boston, and Chicago stores. Surviving owners Chafee and Fenton sell off their remaining stock, but it is not enough to cover their debts
Source
Thomas R. Beardsley, Willimantic Industry and Community: The Rise and Decline of a Connecticut Textile City (Willimantic, CT: Windham Textile & History Community, 1993), 70.
Date
1895-12-17
Contributor
hall_tyler
Collection
Citation
“Natchaug Silk Company Closes,” History Digitized, accessed October 24, 2024, https://easternct-digitalhistory.com/items/show/813.