The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1883-03-29
A Most Remarkable Failure.


DETAILS OF THE FLIGHT OF PITTSBURGH
MsNuFACTURER--No REASON FOR SUSPEND
ING.
A Pittsburgh telegram says: The failure
Of C.P. MaThlc 4 Co., paper-manuiactu'
rcrs. Is perhaps The most remarkable and
Surprising mercantile event that ever took
placc in this city. There was no legitimate
reason for il and there is no excuse. \
firm with assets worth nom 100000 to
$780, coo, and with liabilities OF not quite
SOC. 900, has been wrecked SIMPLY because
The chief OF the house wiliully left it with
ont the means OF paying current expenses.
Mr.. Krider. chief book-keeper OF the
firm. has had the management OF the de-
,qils of the business i'm his hands for some
time. lie is very competent man, and II
was 81 course through no fault Of his that
the crash came. After the consultation
with the attorneys and friends OF the firm
Mr.. krider went 20 Chicago after Captain
Mmkle, found him without much diiii-
Guilty. and succeeded in perSuading him TO
sign an assignment. Markle did not offer
any explanation for his conduct beyond Q
statement that he felt tired and wanted 20
have rest. He had been drinking hard,
and was under the influence Of liquor at
the time.
lie made no offer 10 return any Of the
money. although told Of the effect his
action would have, and n il was his own.
OF course IL could not be taken from him in
any legal way. Mr.. Hridcr arrived home
from Chicago on the morning train. The
assignment 10 Mr.. Jesse IL. LiPpincott was
made in the WeStmorcland County Court,
and there the appraisers will be appointed
I'm the course OF a day or two. The
opuraiScrs. under the assignment law.
viii place valuation on the assets
in The hands OF the assignee, and the
Court will then fix the amount Of the as
sirncc's bonds. This will be done within
the next thirty days. Naturally, Mr.. Lip
niucott has but little 20 say about the situa-
lion OF Affairs. owing to the limited oppor-
fuuiiy he has had FOR examining the books
and accounts. He was at work until after
Q O'Clock last night. and to-day Mr.. hiider
andP. c. Knox, Esd his counsel, were IN
consultation for long time. There were
rumors about town to-day that there was
some hidden cause for Captain Markle's de-
parture. ana the nature Of il was yarIously
stated by the gosSipS. This was mentioned
10 Mr. Llppincott, who said
"TheTe was no reason whatever. as lar
q I know. for Mr.. Markle's departure.
Do YOU know OF any reason, hriderF" he
asked. turning II that gentleman.
mo. | do not" answered Mr.. kridcr;
81 have no idea in the world why he left,
and | am sure there was no particular
cause for it,
1T was an action based on pure cussed-
ness" continued Mir. Lippincott. "Of
course, Mr.. Krider could not get any OF
the money Mr.. Markle had with HIM in
CHICAGO. II was his own money, and as
There are assets enough here 10 pay all
debts. he could not be forced to give it up.
He did not 20 away with any one, nor did
he meet ANYBODY in Chicago. 1t was the
breaking down Of man who had been
worried aud who did not take the least
care OF himself. | do not think this
case has 4 parallel in the commercial
history of the country. | cannot under
stand why a man who owns such fine
business should not be careful and
proud Of IL instead Of taking such means
n this OF destroying il. The assets are
certainly worth from S9O0,000tO Sl.0OO,0OO,
and the liabilities will not run over $780,
900. We do not find any new claims COM
inc in which we were not aware OF, but all
OF the debts seem 10 be on the books. We
have formed no plans and wiilnOt for some
time 10 come. We will run the works
until the stock or hand is used up.
and 10y that time we VIII deter
mine what TO do. am not at liberty to
state the details Of the nature Of the liabili-
ties nor to give the names OF the creditors.
There Is no sort Of doubt but what all the
debts will be paid. We have not heard
from Mr.. Markle since Mr.. Krider lett him.
We cannot tell exactly how much money
Nj. Markle took with him, but it is be-
tween $4,000 and 100000, as near as we
can Judge lie has been preparing for his
departure for some time. He drew the
$4,000 for the payroll on Thursday, but
he began drawing money from the banks
and the firm here about two weeks ago.
The whole thing was the freak OF drunken
man."