Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1885-07-19
ROACH WRECKED.
A Great Sensation In New York Over
the Failure Of the Supposed
Richest
ship.Builder in the Countrywide Re-
lection OF the Dolphin by Secre.
tary Whitney and the
Decision Of Attorney General Garland
Regarding the Other Ir0nclads the
Cause of His Suspension.

New YORK, July lS-John Rosch, the
shipbuilde, who built the dispatch boat
Dolphin and who hss been doing bust
ness under the name of John Roach &
Son, made an ASSIGNMENT to-day to Geo..
w. QuintaFd, of this city, and Geo. Weed,
Of Stanford, Conn. The assignor firm
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 and
furnished, S62, ,2l9 9S. For part of which
he holds four promisory notes made by
Mr.. Roach. A promissory note made by
the assignor, bearing date of June TO- 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. Gollaudet & Co.,
loaned and advanced, are also preferred,
to the extent of $4,000, which was
loaned about June 9th last, $4,000 on
July I'd, and $4,000 on the 11th instant.
The assignment then directs the payment
of all other debts and liabilities due or to
become due, tosether with all interest
money due, including all lawful claims
against Mr.. Roach by W. r. Whitney,
Thomas F. Rowland, James E. Ward,
George W. Quintard and William Row
land, for indemnity against expenses and
"
their having become sureties and having
executed bonds at the instance
of the assignor, and for his benefit,
upon certain contracts entered into
by the assignor in or about the month OF
July, 1888, with the United States, repre-
sented by the Secretary of the Navy, for
the construction of three steel cruisers,
known respectively as the Boston, Atlanta
and Chicago, and the dispatch boat Dol
~. .l.a L. f,-l Al .f Al.
of Levi Kerr against the assignor by Kerr,
now deceased, of certain of the bonds and
contracts.
THE CHIEF TOPIC IN THE CLUBS.
The assignment wes the chief topic of
conversation at the clubs and theaters to-
night. Lightning out of 8 clear sky could
not have been more unexpected than was
the announcement that John Roach, the
man who was considered one of the rich
est shipbuilders in the world. had failed.
A club raan whose knowledge of an in
terest in public affairs has given him
wide acquaintance with the business men
OF the country expressed himself thus
while talking with a reporter: ''The
announcement is indeed startling news
to me, as it undoubtedly will be to
thousands of people. But if you
stop an think a moment you will come
to the same conclusion as myself, that it is
nothing more than could be expected un-
der the circumstances. Secretary Whit
ney's action in regard to the Dolphin was
the entering point OF the wedge which has
torn Roach from his financial moor
ings The repeated trial trips of the Dol
phin; the adverse decision by the men,
bers of the Examining Board, and finally
the decision OF the Attorney-General that
the contracts held by Mr.. Roach author
fr,n, 30 k,,,l 10 Il
now nearly completed in his yard
at Chester are null ard void, were
enough to ruin any man. MIR. Roach has
expended in the construction of these four
vessels SIS. 900, 900 or SO, 100000. Now he
finds that he has on his hsnds some $20,-
100000 worth of ironclads which the gov
ernment will not buy. Mr.. Roach has un-
doubtedly made large Ions ON the strength
of his contracts with the government,
which he cannot now meet"
DECLINES 70 TALK.
This evening Mr.. Roach and bis two
sons, Garrett and Stephen, went to Flush
ing, L. l where the family resides during
the summer. Mr.. Roach refused himself
to callers during the evening. Garrett
Roach said in his fathers behalf; "Father
has nothing to say. His physical health
is such that he is crushed beneath
him. He will not see or talk with
anyone. OF one thing you may
be ASSURED, no one will ever
lose dollar by him, but in the complica-
tions which have arisen in his business,
and the claim of the Attorney-General
that there are no contracts for the build
ing of those vessels, he has been com
PEELED to place his property in the hands
of trustees. Whatever may be the out
come, you may rest assured that justice
will be meted out to all to whom my IA
ther is in any way indebted.
WILL NOT BE RESUMED.
In an interview with Mr.. Quintard to-
night, the reporter asked if the business
Of Mr.. Coach would be continued. "Not
at present." replied Mr.. QuintaId. This