Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1885-07-23
JOHN RoAoH,s r4ILURE.


Rssignment on Saturday to George wv, |
Quintard of New York and George y. !
Weed of Stamford, Conn. The assiguor
first directs that the wages and salaries of
all employees be paid, and he then prefers
wifiinrn- Rowland of New Brunswick, for
money loaned, work and labor done and |
materials furnished, $62, 217, for q part of |
which he holds four promissory notes |
made by Mr.. Roach A promissory note
made by the sssignor, be',ring date on
June 10th, 1886, and payable in three
months, for $4,000, which wus dis
counted by the Mechanics and Tniders'
Bank of Brooklyn; is also preferred.
p. w. ,Gauladet y Co. of No. Wall
street, for moneys loaned and advanced,
are also preferred TO the extent Of $1,000,
which was loaned about June 7th last,
$4,000 on July I'd and $4,000 on the
18th instant. tsi., 5.,...5.,
The assignment then, directs the pay
ment of all other debts and liabilities due
or to become due, together with all interest
moneys due, including all lawful claims
against MIR. Roach by A. r, Whitney,
Thomas +. Rowland, James E. Ward
George W, Quintard and William Row
land for indemnity against expenses and
liability incurred by them by reason Of
their having BECOME sureties and having
executed bonds at the instance Of the as
signor, aud for his benefit upon certain
contracts entered into by the assignor, on
or about the month of July, 1883, with
the United States, represented by the
Secretary of the Navy, for the construc-
ton of three steel cruisers, known re-
spectiyely as the Boston, Atlanta and
Chicago, and the dispatch boat Dolphin,
and the lawful claims of the estate of Levi
Kerr, against the assignor, for and by
reason of the execution by Kerr, now de-
ceased, of certain of the bonds and con-
tracts. !....
THE EFFECT AT CHESTER. IN
The Philadelphia Times says the
announcement of the suspension of John
Roach g. Sons came TO the people of
Chester Sunday like bolt of lightning
from clear sky. TIE news was not gen,
orally known until the Philadelphia
papers had been read and then the story
spread like wildfire. The real facts Of
the case were exaggerated and added to
and early in the morning the streets were
thronged with anxious men, who dis
cussed the situation. Others crowded
around the offices of the company, in
hopes of getting the latest news. They
We're assured that all wages would be
paid and that work would be continued
on the unfinished merchant ship Comal.
II was said that work on the cruisers
Chicago and Boston would be discon-
tinued for the present ut least. This
meant the discharge Of fully half OF the
present working force, and the spirits of
the employees fell proportiopatelyl *
Early in the day the foremen and heads
of departments were summoned for a
consultation with John B. Roach, who
lives at Chester. It was decided to dis
charge 800 of the men now employed this
morning and continue work on the Cotnal
with picked force of 1922 men. The
work on the merchantinan will have to be
carried on in mid stream, where she was
lowed late on Saturday night to prevent
her being attached on PENNSYLVANIA
ground, When the vessel is completed it is
| probable that the works will be shut down
| permanently, unless the assignees decide
to continue them. Should the shutdown
be permanent, it will be Il serious blow to
the interests of Chester. In good times
the ship-yard gave employment to 500
men, whose weekly earnings amounted &c
between $15, 5000 and ST. 900. Nearly
every dollar of this sum was distributed
among the shop keepers and merchants 0i
Chester. With this avenue cut off, thu
interests of the town will suffer heavily
and the merchants were quite as loud il
their lamentations Sunday over tn,
failure of Mr.. Roach as were the employed
of the yards.
LIABILITIES AND ASSETS.
At Mr. Roach's elegant country resi-
dence ut College Point, L. l., Mr.. Roacl
could not be seen. my father liz physi
cally very weak" said Mr.. Garrett Roach
, SIN consequence of the complication
arising from Attorney General Garland
opinion, stating Tint we have no contract
with the government, it has been though
best to put our affairs in the hands Il
! trustees. All of our property will b
turned over TO them. Il has been done !
protect the government, our creditors an
i, | ourselves There is more than suflicien
, property to pay every dollar we owe
: More than this we do not care to say"
/, IT lis is estimated by those best aS
quainted with the details of Mr. Roach
business that his liabilities will reach we
up in the millions, probably as high d
$3 900, 900 or "a .00O, 900; but it is elaine
+, that his assets are equally heavy, wit
this difference, that they are representa-
! by steam vessels, mostly in an unfinishe
. state; the Dolphin, which has been r,
z iected by the government machinery
lumber, &C., and very difficult to realii
upon. ..l.--
Secretary Whitney said: al do nj
think il will have any effect upon ii
), government. i am very sorry for Nj
= Roach. am always sorry when ma
:, falls into such difficulty but do not 81
. that the failure can have any cOnsiderab
n effect upon the government. The GO
= eminent bias only one vessel in his shil
=, yard and two at New York building, hi
the amounts are nearly nll paid ON then
i saw in u morning paper that Mr.. RoaS
4 thinks aIn responsible for the troubl
~ or, at least, that 1 could give relief b,
e the government owes only the amoui
~ still due upon the Dolphin, which won
"a not be enough TO put him upon su
~ footing again. The aifuir is unfortunat
y but cannot help him. Yes, the failu
i was matter of surprise in governme
!, as well as in business circles; but cam
!. see that it will have any great effect {
the government"
Il JOHN RoAcB's CAREER,
y John Roach il native of Ireland, b
), he came to this country when boy of |
/. with nothing but Il pair of stout arms IN
A plenty of pluck and energy to depend I
), to push him ahead in u strange land. 7
J. failed to find employment in New Yor
h ind crossed TO New Jersey to search for
81 man who had worked for his father in II
m old country. He found this man in Il
81 Howell Foundry, which was at that tin
IN owned by James Allairo. Young Roat
l. went to work ms boy in the foundr
is and by strict economy he managed duril
)r the next three years TO save about 81 80
IS lie took n small amount of his saving
he and leaving the balance in the care of M
es Allaire, started for the west intending
Or purchase land and settle down.
OF While on this trip Mr.. Allaire faile
n and all the money which young Roa,
ly had left in his charge was lost. III
Of forced him To return to work as IL labor
ne and he began again the uphill work
IN accommodating u small capital. Aft
10 years of struggle he managed to establi
no n small foundry of his own in New 70
ct which grew steadily in the magnitude
n the business which was done until
" became known aB the 'tHtna Ir
at Works" an establishment in which I
up largest engines which had been CO
stricted in the United States mp to IL
ON time were built. John Roach flourish
ar and in the course OF a few years he Ii
'se bought the Morgan iron works, /
ID Neptune, the Franklin Forge and {
nd Allaire works, iu which he had fl
ly, secured employment in this country.
he In November, 1871, Mr.. Roach bong
in the ship yards at Chester from Rea
ng Sons. Il Archbold and began the work