Wichita eagle., 1886-09-28
SCHUYLER ELECTRIC LIGHT co.

There being considerable anxiety among
some of the creditors of the Wichita Schuy-
Ter Electric Light Co., caused by the defalca-
tions of the president of the Schuyler Co. at
Hartford. Conn.,. Mr.. E. j. Welch, the super
intendent of the Wichita plant. desires TO
saw that as vet there is no cause for anxiety
on the part Of creditors, as the condition OF
the Company financially is not so bad as at
first reported. and as the following letter
and clippings from the Hartford daily pa
pevs will show The following Is letter re-
ceived by Mr. E. j Welch from Mr. Chas
E. Dustin, vice-president and general mana
ger of the Hartford company:
HARTFORD, Conn, Sept. y, 1856
Nr. E. J. welch. Wichita, Kans.
DEAR sIR-As you viii see by papers sent
| herewith. our president. Mr.. Bartholomew,
| is in great trouble but we wish to say that
| he has done nothing that lnvoes the Schuy-
! ler Co. and we believe that we can make the
company stand high and bring it new busl-
ness, but it is going to require hard persist
ent work, and we want all our IrienaS 10
stand by us for awhile.
! This is trouble which could not be for5seen
/ or provided for, but am confident for the
future. if our creditors do not press us before
we have time 20 realizes upon our assets. ana
! turn matters 50 as TO bring funds.
Yours very truly,
CHAs E. DUSTIN, V.P.
The following is the result OF the meeting
of the principal creditors:
OFFICE Or
| SCHUYLER ELECTRIC LIGHT COMPANY,
HARTFORD, CONN, Sept. -, 1856.
! Alta meeting of few of the principal
.f.i,.f I ifyl,f I'm
Many held at the Office of the company to-
day: a statement was made showing It's aSst>
and liabilities. and, upon careful consldera
tion of the same, we, the undersigned cred
itors of the company, are decided "' tns
opinion that it is for the best interest o. al
concerned that the business OF tine company
should be continued, and we recommend al
creditors to abstain from taking any pro.
ceedings against it. until after the general
meeting of the creditors, which will be helc
next Tuesday, September 2oth.
HOLMES. BOOTH q HAYDENS,
FITCHBURG STEAM ENGINE Co.,
WATERFOWL STEAM ENGINE Co.
W. A. SIMONS, Trustee.
The following is a clipping from the Hart
ford Daily Post dated September 23:
The Schuyler Electric Light company
| safe according to Mr.. &. E. Dustin, the sec
retary. A meeting of the directors was hel(
this morning and it was unanimously vote'
: to ask the parties holding the company's pa
per with Bartholomew's endorsement for
: few days in which to realize on their assets
Mr.. Dustin said that yesterday the employee
were given 40 per cent of their wages an'
2 today they would get the balance. The mel
are all satisfied and next pay day they viii
receive their money in bulk. Our assets.
he said, are far in excess of our liabilities, ,bu
, it will take few days to realize on on
property. By next Tuesday we VIII have
: meeting. at which we hope to have every
5 thing Strengthened out. The plant wa
. never in such fine condition as at the presen
time"
''How much of your paper is out wit
BarthoIomew's endorsement! Is it 5000
= '.No. not near that sum: but it is heav.
enough"
!, The following is from the Hartford Dali
g Times, dated Sept. %.
This concern has paper indorsed by MI
: Bartholomew to about S20O,O00, as stated i
the Times yesterday The company know
that this is all of its outstanding paper, be
cause it keeps its own note book, and Mi
i Dustin's name as treasurer must appear o.
Y every note This morning the company re
, ceiyed letters from financial men in Ney
York to the effect that if the Schuyler com
pany was to continue to make the sam
e showing in its business as hereto
: fore, the company would not hay
paper. The company had the benefit of Bar
t thOlomew's name ON its paper, and this wa
a. a great help, particularly when 1t needles
ready money for some particular piece o
work The statement that the Schuyie
!; company had closed its shops and discharges
f its help is untrue. Before even the Plunket
defalcation it was decided to reduce the mum
Der of employees This was because the busl
: ness was growing too large for its presen
b amount of power at the factory. The super
intendent recommended to MI Dustin re
duction of thirty per cent of its help, If ad
ditional power could not be obtained. les
terday the employees were paid forty per cen
: of their wages. Today they Will receive th
=, sixty per cent balance.
At 10 O'clock this forenoon creditors OF tn
Schuyler company, representing four-ffth
# of its Indebtedness, held meeting IN IN
> company's office, and decided after STATE
ment of the company's condition. that ever
Is effort must be made to continue the compan
e along It's business is in most fiourishln
+ condition. and if a little time IS given
:, there will be perfeet solvency. Next Tue
3" day will be held meeting of all the cred
tors, and then will be considered the be:
II means of arranging for funds to tide II
n company over the shOal water. The cred
tors assert their utmost confidence III u
i management and the certainty OF the con
]. pany's business putting it on It's feet, unhan
% percd By such embarrassment as now pr
!, walls. 1t has some sS5, 900 in bills aSains
l two electric plants about completed, whic
e will be paid shortly.
OPERA HOUSE TONIGHT.