December 11 Saturday — Hill records the final folding of the American Plasmon Co.
Ashcroft, who retained his position in the company, told [Charles T.] Lark that the foundering organization would sink unless Clemens provided additional funds, a suggestion that was sensibly declined. Finally, by December 11, 1909, while Clemens was in Bermuda.
The office has been discontinued and all the bills of the Company have been paid through a pro rata contribution of the shareholders, our friend Ashcroft to this end actually producing the sum of $90 in cash. Mr. Clemens’s pro rata portion was $350, which sum was advanced by Mr. [Edward E.] Loomis.
The grand, decade-long scheme was over, having cost Clemens at least $50,000 in losses and an unpardonable expense of time and energy [252].