The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-05-29
DANIEL j. HAIGHTs FAILURE.
The Man who Astonished Feehsktn by His
Energy and Business Talents.

Bankers ana business men III tecKSklll hiy
that the failure OF Daniel J. Haight had been
looked for there for n long time; but in New
York city his credit was very high up to a few
days before his assignment. Mr.. Iaight was
one Of the best known business men between
New York and Albany His enterprises were
very large. and he at one time had no difficulty
in getting accommodation ut banks in this city,
ana in all the towns along the river and lie
never had to pay a bonus for loans. The first
that was known in business circles outside OF
rcckskill of his embarrassment was the failure
OF the American Stove Company OF Peckskill. OF
which Mr.. Haight was President, and in which
IT was understood that he had invested large
sum- from $50 900 to $50 600. besides endorsing
its paper for about 100000 1t was known that
he had lost much money in the brick business.
and shrewd business men thought II impos-
sible for him to weather the storm. Then came
the failure Of IIaight IIaines Co., who did
large general business in groceries and dry
goods, Mr. Haight being the senior partner.
and then. with suits pending ana judgments
hanging over him. he put all MS property into
the hands of Joseph Cook Tor the benefit OF his
What Mr.. Knights liabilities are he does not
know himself and he has no notion Of his as
sets. Figures are given as nigh as f3OOOOO for
liabilities. but no estimate r. made OF MS assets.
The story Of his business life IL somewhat re-
marknhe for one who has sucnt the whole OF ii
in village like Peckskill. H. went to that viii
lad, in 1887. and obtained employment M n
clerk In n store. He had nothing but energy
with which to begin life. but in two or three
Years he was running store OF his own.
and eyincing an amount 81 push that was
an unusual sight in Peekskill at that time.
country store did not satisfy his ambition and
he used to talk TO the other business men Of
Peckskill about the opportunities there were
for good investments. II was constant push;
before long New York merchants heard that
they had eot driving young merchant up In
Pcekskill who saw chances there NJ making
money. and was taking them In 1850 he had
accumulated considerable property. and owned
two farms which he worked in addition to his
other business His reputation began TO spread
in the back country. and rs there WIS no saw
ings bank in Pcekskill. farmers got in the way
Of putting their money IN his hands. taking no
security for 1t excepting Haght's note.
No one knows llaight probably does not him
self-how much he now owes for loans Of this
kind A. he grew older he dashed into all sorts
Of enterprises. and increased his reputation ~
a driver. He bought real estate in Peckskill.
and worked them either himself or on shares.
aud at the time of he failure had four Of the
finest in the county-thc Chase farm. Sutton
farm. Travis farm, and Strang farm. He built
M the American stove Company. which en-
poyed about ATTY men when tunes were driv-
ng. aud made much money. He went heavily
into brick making, organized the JOINT stock
company Of llnight, Hanes \ Co., and lat. out
a cemetery. Now that Mr. liaight has iailed.
there are some people who say that at no time.
had his estate been closed up. would IL have
shown $4,000 to the good hut almost every
ON" put him down at one time as the richest
business man ins Peekskill. and ono Of the
w.althie-t IN the county.
Mr.. Haisht's first trouble is believed 10 have
como from the suspension Of building ait'r the
panic III 1873 The brick manufacturing firm
Of Hhight n Southland was reput"d to have lost
much money. Then the American stove Com
pany began 10 pay its EMPLOYEES in orders on
Haght, Haines a Co. The latter firm took tho
American stove Companys paper IN payment
for their orders. and endorsing IL. gOt accom-
mediation upon II. Although this was practi-
cally Mr. Haight in one capacity paying Mr.
Huight ia another. u tldod over difficulties for
some time. but Haight. Haine- x Co. had credi-
| tors. and the American Stove Compnnys paper
was getting very heavy Haight. Haincs & Co.
secure them. what Mr.. Haight calls collateral
| mortgage on some of his real estate was given
| This mortgage WIS behind two and three. and
| In one instance. Mr. Haight assignee save, four
others but In only one case was II n first mort
gage and this covered the cemetery. The old
| Peekskill cemetery was bounded 10y the Strang
| farm. which MIR. Haight, owned. II was desra-
| hle TO enlarge 1t. and MIR Haieht made over a
| part Of the farm into cemetery lots. large
| number Of which were sold. When 1t was
| known that Mr. Haight had failed tho fact IL
| the mortgage To tn" Poughk"epsio firm came
out and 1t is generally believed that this mort
gage covers all the cemetery. But almost all
| the lots were sold before the mortgage WIS put
| on. and Mr.. Haght says the other lots were
| All IN" property oi Mr.. Haight Is either on
cumlrrcd or elise used ~ collateral security.
| II" had az one timo. the assignee says. f~u.UuO
10 securities. hut this has all gone rs collateral.
| He has been refused accommodation AT the
! perk~kNl Bank for some months. IA, is Ice
| hoved Ia haN" much paper in New York and
| lcrhuIs other banks.
Mr.. Hmeht was public spirited and very gen
| cruu-. and ms creditors. even some oi the farm
| er- whose money he had. regard him a- a man
| of integrity. hui APT al times To- b" visionary. Ito
| creditors. hut the assignee docs not speak en-
couraslugiy OF the prospect.