The Greenville times. [volume] (Greenville, Miss.) 1868-1917, 1885-07-25
Suspension OF Jena Reach.
The Great Ship Building Firm Assigns,

The Great Ship Building Firm Assigns.
New York, July lS.-John Roach |
the great ship builder who built |
the dispatch boat Dolphin, who
has been doing business under the
the name of John Roach & Son,
made an assignment to-day to Geo.
W'Quentard, ofthis city, and Geo.
L. Weed, of Stanford, Conn. The
assignor first directs that the
wages and salaries of all employees
be paid, and then he prefers Mr..
Rowland, of New Brunswick, n.
j. for money loaned, work and
labor done aud materials furnished
s62,2l7 9s, for part of which he
holds four promissory notes made
by Mr.. Roach. A promissory note
made by the assignor, bearing date
of June 10, 1885, and payable in
three months for $4,000, which
was discounted by the Mechanics
and Traders Bank of Brooklyn, is
also preferred.
p. w. Golland s. Co., of No. 2
Wall street, for money loaned and
advanced. are also preferred, to
the extent of $4,000, which was
loaned about June 27 last, $4,000
on July 2 and 10000 on the 1lth
instant.
The assignment directs the pay
ment of all other debts and liabili.
ties due or to become due, to-
gether with all interest, money
due, including all lawful claims
against Mr.. Roach by w. r. Whit.
ney, Thomas F. Rowland, James
Edward, George w. Quintard and
VIM. Rowland for indemnity
against expenses and liabilities in.
CURED by them by reason of their
having become surities and having
executed bonds at the instance of
the assignor, and for his benefit,
upon certain contracts entered in
to by the assignor on or about the
month of July, 1888, with the Uni.
ted States represented by the
Secretary of the Navy, for the con.
struction of three steel cruisers,
known respectively as the Boston,
Atlanta and Chicago, and the dis
patch boat Dolphin, and the lawful
claims of the estate of Levi Kerr
against the assignor by Kerr, now
deceased, on certain of the bonds
and contracts.
The assignment was the chief
topic of conversation at the clubs
and theatres tonight. Lightning
out of a clear sky could not have
been more unexpected than was
the announcement that John
Roach, the man who was cOnsid.
cred one of the richest ship build
ers had failed. A club man whose
knowledge and interest in public
affairs has given him a wide ac-
quaintance with the business men
of the country, expressed himself
thus, while talking with reporter
The announcement is indeed
startlingnews to me, as 1t undoubt'
edlp will be to thousands of people,
but if you will stop and think
you will come to the same conclu.
sion as myself, that it is nothing
more than could be expected un
der the circumstances. Secretary
Whitney's action in regard to the
Dolphin was the entering point OF
the wedge which has torn Roach
from his financial mooriugs. The
repeated trial trips of the Dolphin
the adverse decision by the mem.
bers of the Examining Board, and
finally the decision of the Attor.
ney General, that the contracts
held by Mr.. Roach authorizing him
to build the four steel cruisers,
now nearly completed in his yard
at Chester, are null and void, were
enough to ruin any man.
"Mr. Roach has expended in the
construction of these four vessels
s1,5OO,O 900 or s2,OOO,OOO. Now he
finds that he has on hand some