Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1885-01-16
WHEEIING w. va FRIDAY MORNING. JANUARY16. 1856

ON bsrroWs, From this humble beginning
has grown the great firm of Oliver Brothers
& Philips, which now employs over 5,VVO
men.
Among their various establishments may
Be mentioned the two mills on TeEth and
Fifteenth streets, South Side, two in Woods
run in the lower part OF Allegheny city, and
steel mill and two wire mills on the South
Side One of their largest ventures was the
manufacture of bsrbed wire. Some eighteen
months ago Mr.. Harry Oliver visited Eng
land and on his return home imported
workmen and erected steel mill inte
which Il has been impossible for Informs
ton seekers to obtain entrance. The hrm
has been uniformly successful, and the
profits have aggregated millions. Three
years ago Mr.. Lewis retired from the hrm
with fortune of several millions OF dollars.
The present members are d. W. Oliver, Jr.,
D. w. Oliver, George Oliver, j. b. Oliver,
]. NJ. Phillips, and several relatives OF the
original proprietors. Harry w. Oliver, Jr,
ia the best known member OF the trm out
side of the city, by reason of his candidacy
for United States Senator in 1881 and his
membership on the Tariff Commission. de
has been known as one of the Stalwart lead
ersin this State and liberal contributor to
campaign funds, but he has never held any
local Office. His railroad speculations have
been on large scale and he is said to have
cleared $4,000 in a single deal in Lake
Shore stock alone.
Quietly Discussed.
The suspension was quietly discussed
among the iron men and in financial circles.
II created no surprise, as several OF the
manufacturers had an inkling that some
thing was going to happen. AS a
rule they refused to talk on the
probable effect on the iron trade. The
general opinion prevailed, however, that the
firm will resume business very soon after
they have made arrangements with their
creditors.
can they want" said leading manufac.
turer who requested that his name should
not be asked, lis an extension OF
time. They have valuable property
and plenty of men are ready
and willing to advance them money. The
supposition is that the suspension IS only
temporary. The price of IRON is so low at
present that it doesn't pay to work 1t. There
is nothing new tonight regarding the llaoll,
tiles and the cause of the suspension IS still
a myste1yto all save those directly interested.
II is the general impression, however, that the
liabilities will reach FIVE million dollars,
with the assets about one million more.
Cozads Title Insurance Company made a
record of the mortgage entered against the
frn, embracing all of those entered prior
to November %, 1888 They found the total
TO be $500, 900. That was over year age, and
an examination Of the records for the two
years past, show another halt million en-
tered. The principal one falling due this
quarter is one for Sl20,000 given to the
New York Mutual Life Insurance Company
due March |. 0fthe half million listed by
Cozad perhaps those equal to $500, 900 have
been satisfied, leaving a known indebted
ness on mortgages alone Of 100000. The
largest mortgage reported, but OF which no
record could be found, was one for 81, 400
900. Two gentlemen have seen the record
of it, but say their recollection is that 1t was
only made to secure a discount IN bank,
and was penalty mortgage of most unex-
ampled severity.
Almost Panic.
The news of the suspension almost
caused panic among the employees but
when it was stated that an extension would
probably be granted and the mills con-
tinue in operation, the men set about
to devise some means to aid the
| firm. A meeting Of the workmen OF the
Woods Run mill was held tonight, and it
was unanimously decided to return to work
at the reduction, which they positively
refused last week. Tomorrow meet
ings will be held at the several
South-side mills controlled by the firm and
it is thought that similar action will be
taken. ]. ". Chalfant, one of the Oldest
iron manufacturers in the city said the
cause of the trouble was their putting too
much money in the extension of their works,
new machinery and other improvements.
| Two More.
PITrsBURG, January I'D. W. Carroll, a
boiler manufacturer of this city, confessed
Judgment to-day for $4,000. This in no
wise affects the firm of d. W. Carroll Co.
H.O. Price & Co, pool sellers, also con-
fessed Judgment for nearly $4,000 in a
claim Of John Nachor, The execution is
limited to the Exposition property alone and
is to recover for money advanced and work
done in fixing up the Exposition race track