Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1884-01-05
VILLARD'S FALL.
RAILWAY MAuSArE's nANKsurru
An Assignment tor the Benefit OF Creditors
"A Eaudsome showing tor the
Keading Railroad

The resignation OF Henry Willard from
the presidency ut the Northern Pacific
railroad was accepted at meeting of the
directors on Friday his successor has not
yet been selected. Mr. Willard has made
an assignment for the benefit Of his Crgdi
tors, to VIM. Eudicott, jr., Of Boston, and
Horace White, Ot New York. llo trans
lers 10 them his property and mansion ON
Madison avenue, with Instructions to dis
pose OF 1t at public or private sale and
apply the proceeds, first to the payment ol
the interest of mortgage of 5000 coo
upon the property secondly, TO carry out
any existing contracts for the completion
OF the ediiice, and provision is also madu
for the payment OF any indebtedness now
owning by Mr.. Willard to the Oregon rail
way aud navigation company. The in
Strumeut further rGCites that the residue,
after dispoSlng OF tue entire iuicbtodunss
shall be turned over 10 his wife, Mrs
Fanny Garrison Willard.
The real property included by Willard iu
his assignment in the block bounded by
Fiitieth and FiGty-tirst streets, Madison
and Fourth avenues, including the man
sion which he has recently erected upon
the Madison avenue front. This property
is said To be worth 81 900, 600 The prop.
crty recently conveyed by Willard to his
legal advisers IS expressly excluded from
the conveyance to bis aSsiguees. The
other real property possessed by Willard is
handsome summer residence at DubOS'
Ferry, on the Hudson, which is worth
about $3.50 600
The extent OF his indebtedness to the
Oregon railway and navigation cDmpluy
could not bo asccrtlined, nor could any
information be obtained as % his other
liabilities. II Is said that he Is s.lIl The
owner of large Interests IN railroads auI
other companies, aud that his wife holds
government bonds 20 the amount of $500.
600 No accurate statement OF hjs assets
however, could be obtained, and Nj
Willard is still to i'll too receive visitors
Condition OF the Northern Pacific
The directors adopted resolutions com
pllmentary 10 Mr.. Willard and voted hum
1000 per year for his services during the
time he was president of the company.
The finance committee reported that the
money still remaining from the proceeds
of the SIS OO0O 600 second mortgage bDud
aud other cash assets, especially applicable
to the liquidation OF the IudcbteduCss en-
bTaced in the circular to the preferred
stockholders October Il last, amounts o.
-, Ill, ,99l, whilst the obligations against
the same, together with the balance of
dtu'AhL required lOI construction tLN
equipment, amounts to - Olj ,S34, show
ing = surplus Of 81 1861 la addition
to this the company has on hand ia cash
the special fund applicable to the payment
of interest uu its general first mortgage
bonds, due on the lst of July next.
amounting 10 81, 200, 900.
Owing Up Everything to ais CREDITORS.
IL has been iu,imated by some OF Mr..
Willard friends that the loss of his entire
fortune in attempting to carry out his
railroad enterprises TO a successful uui,
has, partially at least, unsettled his rca
son. Three years ago, he was worth So
600 900. lie has lost everything. In the
days of his prosperity, two years ago, no
transferred some property 70 his wife and
it is also involved IN the general wreck.
OF Mr.. FIl.ad's estate there Is practically
nothing left. lie has sacrificed IL in ct
forts to protect his friends. One Of ;u-
most intimate friends Of the railway ma
nate, Horace White, says or him There
was never any one connected with cuu1-
ratious w!.L bigger heart than Mr.. VII
lard had 20