Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1883-09-03

business of the Canadian Pacific, and
the consequent leaving out in the
cold Of the Southeastern road, natur-
ally has its effect on the negotiations
in progress for the sale of the South
eastern to the Chapman syndicate.
From the Montpelier Watchman
we condense the following relative to
the Norwood Lumber Company of |
Norwood, n. Y:
The lumber company it appears is
made up of Lawrence Brainerd and
E. P. Cotton, ex-Lieutenant-Gove
nor of Vermont and reputed to be a
very capable, sound and prudent
business man. The locality of the
company's operations is better known
as the Potsdam Junction, its former
name. The company has three mills
on the Racket river, also large box
factory and planning mill, about twenty
dwellings, a store and an office The
property is at the junction of two
railways, fact that renders it desir-
able. The company has been in
business about seven years and has
made considerable money. It's mills
are in good condition and two of
them are nearly new. The timber
lands, it is said, have been more or
less cut over and are not considered
of the highest value, being worth
from fifty cents to 81 per acre. 1t
is thought that there is sufficient
stock at the mills to run till it freezes
up and the company has at least
three million feet of lumber on hand.
The estimated worth of the company,
by persons in the vicinity whose ex-
perience qualities them to Judge,
varies from 100000 to S150,000.
The records in the office of the clerk
for st. Lawrence county show not
less than $4,000 of preferred claims
| for freight, insurance, accounts, &C
ceptances, and for money borrowed
of individuals in that vicinity and of
the banks in Malone and Ogdens-
burg. These debts the assignee is
directed to pay in full, and then, if
there is anything left, it can be APP
piled on the Norwood Lumber Com
pany, notes held by the st. Adams
Trust Company. 1.-The facts are, !"
says our informant, ''that Mr.. Brain
erd has made Norwood Lumber Com
pany notes for the benefit and for
the purpose of helping Mr.. Barlow
out of his troubles, to the extent of
$350,000, and Mr.. Brainerd has
taken quite large sums of money
from Norwood to st. Adams, and
for some purpose outside of the lum-
Der company's business. As | I'M
derstand it, the above amount of pa
per made by Brainerd was without
the knowledge of Mr.. Cotton, SO that
those liabilities will only affect Mr.
Brainerd's interest in the company
and not Mr.. Colton's. [ understand
that Cotton holds deed of the Rey
nolds, one of the mills of the com
pany, but | do not know" Mr.
Colton's management of the affairs
of the company is spoken of in terms
of warm commentator and the maj
himself is held in high esteem. Hi
friends in Vermont-and they com
: prise the whole state-sincerely hop
that he will not suffer financial los
in the embarrassment in which th
doings of his partner have involve
= the company. The amount of MOI
wood lumber paper in the st. Alban
Trust Company is $4,000. TIL
Norwood Lumber Company at th
highest estimate is worth s150,00(
! There is a large amount of preferre
claims so that the hope of the depos
itors in the trust company for til
i means at Norwood with which to pa
nearly third of million of lumbt
/ paper must be receding to the val
ishing point.