New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-01-15

uid pass the muster of the courts.
re great respect for the Governors opil
on those subjects. but believe him TO b
ERROR ia this matter. and. in the eycrcis
the great right of private Judgment.
GER with him totally. and shall SO vote.
AE2 Is AMES AND HIS TROUBLES.
rye Meeting of his Creditors-A L iberia
Extension Grnnted-TAe Union pnclfi
Railroad.
IRON the New York Herald
8osToS, January =, lS7l.-There has bee
reat deal of speculation and common
hing the past ten days about the rcporte,
ure OF Cakes Ames. Some of the stor;t
gc represented him as having gone dOwi
Fond financial reclamation, and other
Ve reported him AS being only Temporal
embarrassed. with assets nearl,
hblinS his liability. The creditors o
LIZ. Ames, or Of the varions firms will
z hich' he is connected, held an informa
BetinS one day last .week and appointed
committee TO examine into the condition
httairs and the prospects of the oblga
hs being met if an extension was granted
'Xhe committee appointed consisted o.
Elisha Atkins, Franklin Haven. James II
eal, John 3. Alley, John I. Coolidge
6orse Il. Upton. 7. w. Walker. Il. K
fes and Seth Turner, and the result OF
u Investigations was made known a. d
eial meeting called hereto day.
redltors to the number Of nearly hi,l
were present, and it is probably no
ggcration to say that there never was :,
yer representation Of wealth before
bmbled. Not less than a hundred NIL
s, at the very lowest estimate. were
baby represented by individuals as indi
na-s, IL say nothing about the vast
mi -g,yra fnd nv tlnyv,
led as officers OF banks and corporations.
PIN 3. Alley. of Lynn, formerly member
Congress from Buffers district. was
Yen chairman Of the meeting, and seth
urner, of Boston, was elected secretary.
Alley, after few preliminary remarks,
nitted the following report OF his Con-
ee;
the solicitation of Messrs. Anne. and
friends, together with requests from
parties largely interested. the under
ed We're induced to act as IA committee
yestigate their affairs. and TO give the
t of their investigation to this meeting.
course was deemed advisable chiefly
DE the Reason that much time would be
Daved, and promptness WIS an essential
Element III obtaining a satisfactory au,ust
ment.
The Liabilities arc so large. the property
1Olved 50 immense and of every dasc.lp-
that the best interests Of all required
hat there should be unnO necessary law IN
egreeing upon the course to be pursued.
4 The committee find upon an examination
nc liabilities and assets to be as follows:
3r Cakes Anes' Indebtedness aud
~ liabilities amount TO he sum of 5 80 i.' %
this amount s 800 is secured b.
a collateral estimated to be worth at
"a rs market value about .......... 1h0 ~, 40
Rvrng about. OBSERVATION-DISCLOSURES. 300 w %
unsecured deb+s.
assets amount TO-. 10 ~ aa5 %
wing. Observation-Disclosures. 3..5 a- 10
anre alter pa .ng oh his debts.
s Ibis estimate, a based upon uhat We TO-
I'd as a fair valuation OF VIVA: may be
qli2cd ont Of the property L reasonable
he is given 70 dispose of it.
II is estimated that Oliver Ames & Sous
- eDdu"sers upon the obligations OF Dales,
1Des TO the extent of about $1,000. 900.
yer Ames i Sons owe in notes and
3bey have assets TO the amount Of 500 ,:o:, Us o.
|Ecusive OF about j. 900 900 due them
s. from Mr.. Dakes AmeS, leaving q ba..
~ auce OF assets Observation-Disclosures. 2.t:3 NJ Gb
This we regard as a moderate estimate Of
leir property, and have no do;.bt this
Mount can be fully realized.
e liabilities of the Ames Plough Con-
n I@ny amount, i'll notes and
q counts, to A.Isa0! y
ear assets amount to................. J2o5a2 u
11ying a balance Of................. b12 53i IL
- Kinsiev Iron and MaciGe Com
& pany liabilities are.. ss}6 Il
heir assets Observation-Disclosures. 40 $50 Is
eaVing d balance d.. ............ 30 l53 81
he whole amount OF liabilities of an
the cOncerns-Oakes Ames, Oliver
Anes Soiis. Ames Pi0w Com
pany, and hinsity Iron and 3D..
chine Company, asr...-............. 4, 1905 -
be assets or all are OBSERVATION-DISCLOSURES. y 81 If 10
hlCh leaves balance of............ Ga G33 81
This does not include the private prop
n = of h, JU.lD berg az tl,c t.r,I, ~. Dliyar
mes & Sons. except that OF Oakcs A.ne-
That would swp:1 this balance 20 c0usid-
ably above $1,000, np,.
We feel that IN this estimate. everything
valued no higher than il viii bring under
,opcr and iudiciorss management.
Their assets comprise eyfr; yar.c:v and
,scription OF property. most at il exceed
gIy valuable. and if tte creditors Will
ant them the necessary line TO dispose Of
eir property. without TOO mach sacrifice
Id their business continued. which ) very
rye and Immensely profitable, Nc have 20 |
IN saying most unqia!iied;y that |
e believe every obligation will b" met by |
e payment az both principal and interest. !
10 high character of the parties, their I'M
,uhtcl ability, large experience, and I'm
lestioned integrity, give assurance to the |
editors that, however liberal they rlay be |
granting time to them to turn their pro-
rty. not Il moment longer will he taken
an is actually necessary to protect the III
rests of all, and while the committee do
It feel that so long q time Us they propose
II be absolutely essential, yet considering |
0 parties with whom they are dealing,
cy feel that it is best with SO large a portion
the property unavailable ut present, to
commend that the creditors grant an cx-
aston of six. twelve, eighteen ard twenty
IL months. with interest at seven per cert,
d we confidently believe that if the por-
4 are granted this extension. and are 81
we'd to damage their affairs themselves in
cir own way. that every dollar of this i'll
btedness viii be liquilatcd before the cA-
alton OF the time proposed.
When Mr.. Alley had finished reading the
egoing report he addressed t.. meeting
follows:
Now, gentlemen, I wish - say Il few
rds in behalf OF Oakcs .An.H-. /. Is due
him. to you, his creditors and 70 the com
nifty, thai he should he indicated, and
explanation made why he iniS himself
chs position. What say now is with
! his knowledge and upon MY owl; re-
,asihiIitY. but know whereof | affirm
ssert. without fear of contradiction, but
him, his boldness, hi, courage. bis
,rgv. that greatest OF achievements III
lent or modern enterpriscs-tic building
the Paclnc railroad-would not today
for a long time to come, Il ever, have
me an accomplished fact.
: estate not to assert that If t,ie national
.'nment. which saves many millions an
,py i.s construction. had been as
III TO it's obligations as be and those
hon he Is associated III the manage
nj direction Of this road have been
g voald not have been Oblig 4 to
our hands the accommodation which
jssit;er now demand.
VI Of denunciation and abuse, the |
of this road had right to expect