The state journal., 1874-03-06
SALE OF THE osAoE IRON woRKs.


The 18th ult. was the day appointed for the sale
Of the effects Of the Usage Iron Works Com
pnny, bankrupts. At II o'clock party of gen.
tiemen, among whom we noted Col. Isommen.
ger, late superintendent Of the Works; Henry
NJ. Noel, secretary Of the Laclede Iron Works;
A. Warren. Of the Sligo Iron Company; Col.
Lambert. Of Usage county; NJ. s. Cartier, Of
Usage City, and Hon. j. j. A. Quealy, Of the
House OF Representatives, and president of the
Quealy Car and Iron Works ut Hannibal, and
president ofthc Parsons, Kansas, Car Company.
Governor McClurg, assignee of the bank
rupts, read the notice of sale, and explained its
terms, the character and condition of the pro-
perty. Aside from tls real estate, the furnace
and machinery, and lands embracing about
1000 acres, all timbercd, and entered for the
mineral It contains, with here and there II bank
already opened, there is about thousand tons
of ore, twenty thousand bushels of charcoal,
thirteen hundred and fifty cords of oak wood,
tools, wagons, scales, large and small, fiat boats,
full fifty thousand brick, all of which to men In
the furnace business would be extremely low mt
$4,000. In addition TO this, the estate has upon
it Immediately some twenty odd small and COM
Portable tenemen!s for workmen. and a spacious
store-room.
The bidding was slow and Jagged heavily.
The first bid offered was 1000 by Mr.. Lambert.
Mr.. Quealy promptly went $1,000 better. The
next bid WAS by Mr.. Noel, $500. 1t was un-
derstood that Messrs. Cartier. Lambert, Noel
and others wanted the furnace for the purpose
of moving the furnace and machinery to their
orchards down the Usage.
Mr.. Quealy raised the adverse lids about s4OO
succcssively.
At last his bid reached the sum of. so, ,5OO
The other parties retired to consult. but were
unable TO bring themselves to the point of rais-
ing their offer. and of course Mr.. Quealy bought
it.
We are rtther pleased with the idea that Mr.
Qucaly proposes to take hold of these Works
He represents limitless capital besides his own
large wealth. He has large experience in the
iron business also, which is of great import
ance. And then the Works of which he is
president consume very large quantities of
metal. This furnace alone would not near sup
ply them. Mr.. Quealy informs us that the ca.
pacity of his Works is 12O tons per day; thirty
tons of which is the same as the product of this
furnace and ores of its vicinity.
The enlistment of Mr.. Quealy in this enter
prise has another signitication, which is personal
to this city. 1t is that in operating these Works
Mr.. Quealy will become interested in our rail-
road project. 1t may not be generally known
that the completion of about % miles of un-
graded road from Mexico to Hannibal would
make our railroad connection with Hannibal
and Chicago complete. And then, too, here is
our projected road South. 1t will pass directly
by his door, and as means of shipping from
his furnace to his Works is indispensable. 1t
will be seen then that in the transfer of these
Works to Mr.. Qucay there is a wider range of
good results to follow than we had supposed.
The sale of the Usage Iron Works to Mr..
Quealy ut auction, as mentioned Thursday, was
not approved by the Court, and the property
was ordered to be sold by the Assignee at pri-
vate sale.
IT,