One of the largest and oldest milk producers in the United States has filed Chapter 11 bankruptcy. Borden Dairy said yesterday (January 6) declining milk demand was one of the main reasons for the financial move. Other factors include paying pensions to retirees and mounting debt.

The dairy company created Elsie the Cow as it's iconic mascot in 1857 and graced the brand's cans of condensed milk. The company registered it's first "living Elsie" in 1939 just in time for the New York's World's Fair where she proudly tended to the crowds attracted to the exhibit.

Elsie the Cow was so popular that it was even a successful cartoon in the 1930s. And here's a snappy piece of trivia: Here fictional cartoon mate was Elmer the Bull - who later went on to become the mascot guessed it...Elmer's Glue.

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