Wichita eagle., 1889-02-12
FAILED FOR MILLIONS,
The Ohio & Western Coal and Iron Com
pany Makes an Assignment.

| NEW YORK, Feb. 1.-THE Ohio s. West
ern coal and iron company filed an assign.
ment in this city today to James A. Hall
without prefer ences. The New York of
| flee is at No. II Pine street, and the princi-
pal office is at No. 8 Congress street, Bos-
ton. The mines and furnaces are situated
at Floodwood, Shawnee, Penn, Orbiston
and Maunday, O. The deed of assignment
conveys to the assignee all lands, build
ings and appurtenances Of the company
subject to mortgage to the Boston
Safe & Trust company. Affixed
to the document are signatures of Chester
Griswold, vice president, and George G..
Thomas secretary. John NJ. Glidden, the
president, was of the firm of Glidden &
Curtis, of Boston, who failed last week,
and their failure precipitated this assign
ment. The Ohio & Western company is
an organization of the Standard Coal and
Iron company, which was sold out under
foreclosure in SS3 and was bid in by ID. n.
Stanton. Thomas T.. Mason and George
Chapman, who held it as trustees pending
the reorganization. This new company
was incorporated under the laws of
this state October 25 1888, with CAPT
tai stock of S5,o00,000 and bonded
debt Of S3,500,000. Bradstreet's report of
April, 1887, said that the company was
mot understood to be earning its interest
account as yet and is being nursed along
largely owned by banks and trust COM
panies. Its future depends on the dispo-
sltion of its managers"
According to the company's annual re-
port on January 10, the liabilities were
So. 100000, of which the bonded debt was
-, 1893, 900 ana the debts with collateral Sc
curities $4,000 Assets consist of Z, 900 acres
e II IL,
valued at $500 or $500 per acre, about 800
houses, three large stores, 400 railroad cars.
four miles of track, three coal mines fully
equipped, four furnaces and large
amount of miscellaneous equipments.
The directors of the company are John
NJ. Glidden, Geo. K. Chapman, Jos. w.
Smith, Z. X. Pendleton, Chester Griswold,
S l.. Parrish, O. d. Lombard, G.. S. Foote,
James A. Hall and Thos. Cochran. The
Standard Coal and Iron company was the
corporation about which there was consid-
era lie talk during the campaign of 1854 on
account of James G. Blaine's connection
with it.
UNEASINESS IN THE HOOKING VALLEY.
COLUMBUS o., Feb. 1.-THE failure of
Gledden & Curtis, of Rosron, and the sub
sequent attachment of the property of the
Ohio Western Coal and Iron company has
created considerable excitement and unea-
siness in Hooking Valley where the prop
erty of the company is located. Saturday
was pay day with the company but the
men received nothing. The shuttiGgdown
viii throw 800 to 700 men out of employ
ment.
A strange fatality has been connected
with the property OF which the Ohio &
Western grew. James L. Burkey, who
committed suicide in St. Louis hotel
was harrassed 10y thoughts of the fortune
he had lost among the Hooking hills. Geo.
Lee, who killed himself in a New York
hotel, was haunted by spectre of ruin in
the coal fields of Ohio: Royal III Pulsifer,
the founder of the Boston Herald, took his
own life some months ago, and though he
had many other business complications to
pull him down, he too sought the tabled
wealth said to be buried there. The
Standard Coal aud Iron company, out of
which the Ohio & Western grew, was
colossal affair." with a capital of SO ,000, 900.
This is the company in which James G.
Blaine and Stephen B. Elkius were inter-
ested ana Z. L. Harper, president Of the
late Fidelity bank, at Cincinnati, had $780,
OO0 of IFS bonds