The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-06-13
MAYOR BLOOD'S FAILURE.
STATEMENT OF THE FITcHBuRG RAILROAD MAN
Ayers LIABILITIES AND ASSETS.
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Ayers LIABILITIES AND ASSETS.
IBY TELEGRAPH TO THE HERALD
BosroS, Juno IL, 1877.
The failure Of cx-Mayor II. A. Blood, OF Fitchburg,
late manager OF the combination OF railroads known
the Boston. Clinton and Fitchburg announced IN
terdays dispatches, Is tho principal subject OF
mcnt among financial and business mon throughout
New England. 1t has been known for some time that
he was seriously embarrassed but the magnitude Of
his failure was not suspected until his petition
filed in bankruptcy. Tho stated liabilities arc
ST. 52S slo and the assets $3.50, 6oo but a large
portion of this Is In railroad stocks and bonds which
are practically worthless.
THE CREDITORS.
Tho principal creditors arc the Fitchburg Savings
Bank $269 000 Worcester North Institution for Saw.
ings at Fchburg $67 900; Mechanics' Savings Bank,
OF Worcester. 500 O0O Clinton Savings Bank $45 900;
Fair Haven Savings Bank, s24. 900; Bristol County
Savings Bank, nj Taunton, $50, 900; Now Bedford In
sti,uton tor Savings, $500, 600; Wachusett National
Bank, OF Fichburg $ss,G67; First National Bank OF
Clinton, $44, 500; Mechanics National Bank OF
Worcester $40 oOo Northboro National Bank, ST. 500;
Boston National Bank, 500 900; National Bank Re-
demp.on, OF Boston, s2S 600; National Bank of
$1,000; Merchants National Bank, OF Now Bedford,
Hollywood. Of FitcLburg, $4,000; Harrison Bliss, OF
Worcester, $S2 0UG s. H. Howe, oil Bolton, SIS, 600;
W. J. Ro,ch, OF New Bedford, $4,000
PROBABLE Losses
II is claimed that the Fitcbburg Savings Bank, which
Is placed az holding Mr. Blood's obligations to tho
amount OF s268,000 has largo amount Of col.
lateral security and that as o probable loss Of
TO tho Continental Mills Of Lewiston repre-
scnts $1OOO,000 Mr.. Blood subscribed tor
500, 900 OF tho stock when the company was reor-
ganzed. with the Intention OF placing portion Of it
among his friends. Tho stock is held by tn company
as collateral Tor a note gwen Tor tho Same amount
The loss which the company sustains rs the difference
between the value of the stock and the value,
tincntal Mills against tho cstatc. The other
liabilities may possibly be largely decreased
by the sale Of colaterals, and though many
shrinKage, tho total loss shs orsdsors viii DO
what decreased by Whatever tho estate BE- abto 70
nay unsecured creditors. Of Mr. Biood's liabilities
the officers OF banking house that tho larger part
surety with parties OF undoubtcd financial strength,
and that his Indebtedness Is secured by suretes
which beyond question and by perfectly sound COL
Merchants National Bank OF this city is substantially
like that Of the Institution for savings.
HowE's INSOLVENCY.
The failure OF Solomon II. Howe, of Bolto,, who IS
carried down by ais friend Mr.. Blood, Is also very
serious one, appears from a statement of tho
liabilities, whchlwas filed to-day They amount the
as follows Con incntal Mills, Lewiston, Me-. SIS 600
Lucinda s. Howe, Bolton, $50, 600; Wachuseu Bank,
Fitchburg, S22, 3S2 First National Bank, Clinton,
$4,000; Nor,htoro National Bank, $500; Mcchan
res Bank, New Bedford. $40, 600; W. J. Rolch, New
Bedford, $4s, 900; Fitchburg Savings Bank, $4,000
Clinton Savings Bank, S25 OU0 Bristol County savings
Bank. Taunton, $4,000; Fitchburg Mutual insurance
Company, $4,000; Merchants National Bank, Now
Bedford, 500. 600; Boston National Bank, 500, 900
National Hank OF Commerce. New Bedford, $40 900
Mechanics National Bank. Worcester $4,000