, 1880-05-02
WHY IT WENT UP.
The Consolidated Fire-Extingu1yher
TOmDnnv.

The Consolidated Flre-Exttneui.4aer
Company.
Scarcely anything can be added to what WINS
said in yesterdays TRIBUNE about the confess
sion of Judgment for s1so00o by the Consolidated
Fire Extingulsher Company to ". n Frow. OF
Plttsburg. The debt WIS created by borrowing
money from the cider Mr.. Frew tn carry on the
business, he having advanced in nil nbout $780,
600, but received back s2l3oo0, which loft due q
balance Of $lS7,000 For this Judgment note
was given. the interest to date amounting to
5000. The effects Of the corporation
Imaachtnery, NJ building, ground. etc. ut No.
WORTH, it Is saa bit The boiief Is iiala that
not nc 5aa 4h oter Se for # If
However. it Is understood that tho Company Is
not indebted to other parties for any consIdera-
could not be oscertaincd. Those who ought to
be posted sny t1lnr the Company was doing u
profitable business. The trouble was, as one Of
them expressed 1t, there wero too many pigs
Mt the tcats.''
From what Il reporter could pick up from an-
otncr source, it seems that the elder Frew was
the principal stakeholder and the heavy cap1-
talIst of the concern, which became indebted
to him for money advanced to buy up the patent
rights which It obtained d., and l. ia the absorption
disastrous one in itself, though the Company
made some pretty serious mistakes IN starting
fr fso It al Vs tat Can sort oe e saroc ad
pretty wide swathe when 1t struck OUT
wider, perhaps. than was good for it.
For inst,luce, it paid rather too lberaify for its
property here and its franchises particularly for
tho plant ut the Bnbcock Company. Frcw ad-
yuncing the money for this porpose. In January
nude through Frew with man by the name Of
Rochester, N. T.. by which be was glvon
a lurgo bonus for the transfer Of what
he claimed to be a large business which
he controlled in the sata OF sates, the inten-
ton being to enter into the manufacture Of
those articles as we'll US tire e1ttnxuishers. War
Somehow or other the safe scheme didn't do all
that it was expected to do. Warner proved
rather ornamental than useful, aud In april his
connection with the Company, except as Stock
holder and Director, was Terminated, the Jnuu-
airy arrangement cancelled, SO far as it could be
done, and the Company got back as much OF its
paper as had not been used In addition to
gentleman by the na1ue Of MMrtiu. who cut cou-
siderable Of swell III travelling capacity .ist-
ing Sun Francisco, New Orleans nrd other places,
and finally bringing up, It is understood, ut
Washington. where Of late he hns made his
headquarters. According to the informant from
whom the above was Cleaned. the property has
been @ ~ yartously l estimated; as @ being worth IRON
medium. This includes the Company's real es-
tate In this city and its stock on band, but not
its patents, which are worth considerable. pro-
vided they are used and developed. The Sher-
IFS officers begun making their inventory yes
1erday, aud the sale will probably be held about
suit of the matter 1t is not easy to predict,
though there IS au idea that ifl some wgy. Or
other the business will be carried on aS usual by
somebody after the sale.