The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-11-23
hidden rLInnr TO EUROPE
Queer Transacticns by the Manager Of the
Qnn.saIeh WooIIen WIN CemPany.

NEwBURGH, Nov 22.-There Is great OK
element here to-day in business circles over
the sudden flight Of ex-Aldcrman Edward
Ilaigh. n woollcn manufacturer, who recently
failed. He sailed for Europe yesterday and
rumors connect him with some queer business
transactions rs manager and treasurer OF the
Cuassaick Woollcn Mil Company. whose mill
Hdioins his ON the Quassaick Crock. Mr. Haigh
was the owner Of tho Valley Woollcn Mill.
About two weeks ago he made an assignment
for tho benefit Of his creditors. md
his liabilities were stated to be about
10000 with assets Of about $4,000
only. Since the assignment II receiver has
been appointed on supplementary proceed
ings. and the Court will decide who shall con-
troll the property. Mr.. John B. Kerr. Recorder
of this city il the receiver. and Herbert Greavcs
the assignee. 1t was rumored that Mr.. lIaigh's
failure might possibly involve the Quassaick
Company. Accordingly an investigation was
made. The following is the substance Of u
statement made to-day by Mr.. W. W. Trask
secretary Of the Qunssaick Company showing
that there are some grounds for the rumorcd
queer transactions Of Mr.. Haigh With the bust
moss affairs Of TINT company;
While in New York yesterday. Mr.. Trnsk said
he accidentally learned " Mr. Haigh's inten-
ton of sailing for Europe that day With Mr.
George Harley. President Of the Quassaick
Company. hc visited the pier Mt which the City
ing two hours Mr. Haigh made his M
poarancc Just few minutes before the
steamer was to sail. Mr.. Haigh was asked
what he meant 10y going away 80 suddenly.
and he replied that he didn't wish to meet
them until he came bqck from Dewsbury,
Yorkshire. England, whittier he was going TO
obtain HELM from his brother there. who is re-
ported To be very wealthy man. liaigh said
that be- would be- back by the ist of january and
WOULD then pay every claim against him in full.
Whom asked IL he had given any other note ~
The Quassai * Company s beside one To- Winn x
New York. Mr.. Huigh said he had not Mr.
iagh then went ON board the steamer and
Mr.. Tra-k SAYS that the Winn ( Weaver note
is for 1850. and was given hv Mr.. Haigh for
the Quassaic; Company without the knowledge
and consent Vt any other officer Of the company
Vim q Weaver. who. 10y the way, are also re-
own mill. the Valley. There IL no mention of
the notc on the QuAssa!ckk Company's books
and neither Mr. Trask Secretary nor Mr.
Harley. President, know anything about IT,
about the note Mr.. Haigh denied all knowledge
OF II. Afterwards he told IN" secretary that 1t
must be- one that he had given VIM Weaver
scented 10 him that thoy were in difll'ulty
and asked him 10 help them. saying that % note
for Nfcw hundred dollars for few days would
bridge them over their troubles Mr. Hugh
then told the secretary that he signed the note
illl % M for $500 or $500 and let It run q week
or ten days only. lie did this he said. simply
To accommodate" them. thinking the note would
b' iHh.h w anu lHlu al MATURITY. Mr. hnlgl
said they ill"l II out for 1850. 20 run four
months. This statement WIS made boy Mr.
HuEh u few days ago. and Mr. TraSk saws he
reiterated i Yesterday. besides declaring em-
phntirally that ho did not owe VIM Weaver
any such amount ana u they said he ,lid they
lied. The note WIS discounted az the Park
Bank. New York city ana its existence WIS
known Co., no one IN the Quussaick Company cN-
ccii Mr.. liUgh.
The Quassalck Company's capital stock
amounts 10 100000. ANA this loss with Mr.
hNGi sudden nl-Hpl'Hran gt Will cause but
very little trouble to them. The stockholders
meet tonight tu elect "a new manager and trrss-
urcr in llWgh's place. Mr.. Ii.dgh has 81 500
worth - stock, hut hy buying proxies and vot-
INK ou them has virtually controlled the COM
corn. II ~ rumored here that one II tho Now
hurEh banks i- % sufferer hy thc failures OF Mr.
liuish aud VIM 4 Weaver o. the extent OF
$4,000. II holding Winu a Wcavrrs pHurr
Win Mr. Halsn-s InlOrsomcnt ~ Tint amount