The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1885-07-19
JoHN NOACms rAILURE
The Dispatch Boat Dolphin Sinks its
Builder-A Shipwrecked Saip Builder
He Is Sick, of Course,

AHe blsphtch BOaJ DOipnln Slnhs Ils
Buildcr-A ShipW rocked Salp Builder
He is Sick, of Course.
NEW YORK, July 18.-John Roach,
tho ship builder, who built the dis
patch boat Dolphin, and who has been
doing business under the name OF
John Roach & Son, made an assign
meng to day to George w. Guintard,
OF this city, and George Weed, OF
Stamford, Connecticut.
The assgnor first directs that wages
and salaries Of al employees be paid,
and then he prefers VIM. Rowland, Of
New Brunswick, for money loaned
for work and labor done and inaterl.
as furnished, $62,2l79S for part If
which he holds four promissory notes
made by Mr.. Roach.
A promlssory note made by tho as
signOr, bearing date Juno 10, 1855, and
payable in three months, for $4,000,
which was discounted by tho Mechan.
les and Traders Bank OF Brooklyn, Is
also preferred. Z. w. GOllanda Il 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 q last, $4,000 on July
2 and $4,000 on the llth
instant. The assignment then
directs payments of all other
debts due or to become due together
with all interest money due, including
all lawful claims against Mr.. Roach by
w. II, Whitney, Thomas +. Rowland,
James Il. Ward, George W. Quintard
and William Rowland, for indemnity
against expsns cs and liability incurred
by them by the reason OF their having
become sureties and having executed
bonds vt the instance OF the assignor
and for his benefit upon certain con-
tracts entered into by assignor on or
before the month Of July, 1888, with
the United States Government, repre-.
scented by the Secretary Of the Navy,
for construction OF three steel cruisers
known respectively IS tho Boston, At
lanta and Chicago, ana the dispatch
book Dolphin, and claims of the estate
of Levi Kerr against assignor by Kerr,
now deceased, OF certain bonds ana
contracts.
Tho assignment was the chief topic
of conversation nj the clubs and
theatres tonight. lightning out OF a
clear sky could not have EGeu more
mont that John Roach, tho man who
WAS considered one Of tho richest ship
builders in tho world, had failed.
A club man whose Authority and Ia
| terest in public affairs have gwen him
wide acquaintance with tho leading
| business meu Of the cnuutry,expiessod
himself thus while talking win 70.
| porter:
"The announcement Is indeed
startling news to me, as IL undlubt-
! eddy Will b. TO thousands OF people,
ont /! you will stop and think mo.
ment you viii come 70 tho same con.
CluslOn "A myself-that IL is moth
| ing moro than could havo bosn
expected I'M or the circumstances.
| Secretary Whltney's action in regarC
| 10 the Dolphin was tho enteringpolnt 0
| the wedge which has Torn Roach iron
his tn, ucial mooringa. The repeated
| trial trips OF the Dolphin
tho adverse decision b. nom
hers OF the examining board and
| finally, tho decision OF tho attorney
general that contracts hold by Mr.
Roach authorizing HIM 10 builC
| the four steol cruisers, nos
nearly completed in this yard a
Chester, are null and void, woT,
enough 10 ruin any man. Nir, RoAcl
has expended in the construction G
these tour vessels Slj .000OOO or $40,
00O,0)O. Now no finds that In hal
on his hands some 100000
worth of iron clads which the govern
ment will not buy. Mr.. Roach mas un
dOu0todly made large loans on Tia,
strength OF his contracts with tn
government which he csunot nov
meet.n
This evening Mr.. Roach aud his tW,
sons, Garrett and stephen, went Il
Flushing, Long Island, where th,
family resides during the summer
Mr.. Roach refused himself l.
callOrs. During the evening Gar
ret Roach said in his father
behalf: "Fathor has nothing TO say
His physical health Is such that ne /
crushed beneath tho blow which la
fallen upon him. lie will not see o
talk with any one. o
ono thing you may b,
assured. No one will over lose dol
lar by him, but IN tho complication
which havo arisen in his bust
ness aud tho claim of tn
attorney general that there ar
no contracts for the buildinI
OF those vessels, no has been COMPEL
cd 90 place his property In tho hand,
OF trustees. Whatover may DO .he out
come you may rest assured that JUS
tice will be melted out TO all 30 whom
my father Is any way indebted"