Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-11-27

And rock us 20 sleep In The eloads.
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TINE DfyaDEsp D~DeE.
Experiences az Esvesssrs n ske nIssfnr
lash slanafaeaasise Cssspasy.
r.. Y. Chronicis.l
II any one desires 20 have his qnes-
ton answered By smile, hs shoula call
at any Of the stock brokerage Offices and
ask toe price Of the Mattuiath Mama
featuring Company's stock. Having
his attention directed TO 10 the other
day, o Chyeaicie reporter visited the
Office Of prominent member Of the
Stock Board. and asked the latest ono
tatlon.
.Oa what, did Jon says' asked the
broker.
-On Mattulath.n
The qaosasionT"
awhy, my dear boy, there isn't any
quotation on that stock, and there
hasL'l been for months. The concern
In wiped ont, gone TO pieces, and only
the sorry stockholders remain. IL IL on
ono list ~ $50 asked. but ] doabs II
any one would bsd 10 cenfs."
what Ia the par valueT
"One hundred dollars"
did 10 ever sell Tor thatF'
yes, and over"
"What divldsnds we're ever paidT'
after ths company was organized II
paid hine dividends In all, at the rate OF
rs cents share q month"; ~
"rhen the company prospered for q
seas0nfr suggested the reporter.
as TO the diyideads, decline TO talk.
want 10 discuss the matter "a.
Later the reporter Was successful In
finding several gentlemen who were well
informed concerning the defunct com
pany. but With one exception they do
elined discussing tia matter. One who
was a large owner Of the shares said:
'.Yes, / bought into tho company
when the stock vas high. aud never
expect 10 reaiizs q dollar ON my invest
ment. do not care 10 make public my
idiotic investment. ] thought IL was q
good thing. and il wasn't
What led you to invest?"
"Wall. the fact OF the company paying
dividends was what probably influenced
me-
"wsre these dividends sarnsdT'
II do not care TO say. do not wish
to talk
II hear bank Of this city loaned the
money 10 pay the dividends. Is this SOP
II do not care 90 discuss the matter
HISTORY OF THE AFFAIR.
A leading business man of Market
street being visited. said:
$50 You want 10 know about the Mat
tuilath Manufacturing Company Well.
sir, can give you lie whole history. IL
il another Hawaiian Commercial and
Sugar Company. Somebody besides
the stockholders has got whatever
money there was"
When was the company formed?"
Some two or three years ago. Atthat
time a gentleman by the name of Mat
tullath appeared in the city and inter
ested several of our capitalists In the
business Of making slaves"
How was the capital obtained?"
''In this way: The Cutting Packing
Of this city owned the Eagle
Mill OF Seattle, w. I. From this estab-
tAHAAubAt AAathNAlata anu DCEA htAt
habit of buying slaves. and. desiring to
increase his business, he came TO this
city aud obtained money enough 10 buy
the Seattle MILL
"what then"
"Fhen the company which Mattnllath
had formed-what was called the Mat
observation-disclosures ompany--boaght
the Seattle mill from him and also
leased an establishment in San Francis
co. After the two mills were pus under
ono management, the company took in
as Directors p. Lilienthal OF the Anglo.
Bank and w. ii. Chicken
Ing of Chickering Il Thomas. Cutting
Of the Cutting Packing Company and
we're also in the directory"
Were there ever any profits to the
businessgn
mo. Soos after beginning work Are
n the warehouse here did much dam
age, and the patent which MattuIlath
valuable was worthless"
How we're the nine dividends paidY"
by borrosing money from the An
,lo Californian Bank"
did the dividends bring In purchas-
srs Of the steck?"
Yes. Buyers were "a plentiful as
hey were in the Spreckles company"
what security did the bank have for
ts money!"
:" |, had MORTGAGE of 100000 on the
seattle pfoperty."
WAS The Seattle mill worth that
.um ?"
No. I, was never worth over $780,
90"
Was any action ever taken against
he Directors ?"
"No,.
do yoa imagine they knew the divi-
lends were never earned ?"
Think they did not knew. Ma,tui-
ath vas the railing spirit and attended
% all the finances"
Was the bank ever paid p
Yes"
" How 7"
s. do not know. Presumably. though.
he high price at which the stock sold
snabled Mtsngiath TO net enough 10 pay
Tor the dividends"
"Thsn later stockholders we're really
ihose who paid the dividends p
Well. yes. that il about the ease
tn, y acre the aeeced ones ~
| fear 80"
Another stookholdef wEo was seen
lad practically the same story 20 tell.
IL was the dividends thai tempted
ne 10 invest" he said. The concern
Was nothing more than e2tch-trap.
Money was never earned. and the divi-
lends were borrowed. IL vas sharp
teal"
!" Could the company have succeeded
xith proper management Z"
' Possibly. do nos knew. Bat this
sompAny lost money from the start. IL
sould nos NIL its contracts with Spreck-
lie, who used the barrels MattnIlzfh
made, because OF the ipeApAcsty Of the
seaisle mill, and great expense Was IN.
'nEred in getting slaves from the Est"
Mho Of the company Is lefs here
aow -
:" IL Is no longer really company, as
{ does no business. The Secretary.
Mr.. Garner, whoss otface 10 on Eighth
street. near Rsannan. il In town. bat
he mill Is being run by the former
Of the eoneern. Who IL En-
sking mp the stock that was left over.
The corporation is hAnkrups and the
ltoek holders have been frozen oat.s
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The ssesreer Emma Harvard MIA