New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-04
FALL OF 4 BIG WOOLLEN FIRM
A RECEIVER APPOINTED FOR THE RITTEN-
HOUSE MANUFACTURING COMPANY.

ONE OF THE LARGEST AND BEST KNOWN HOUSES
IN THE TEADE-E. II. AMMIDOwN, IT'S
PRESIDENT. SAYS THE ASSETS ARE
LESS THAN THE LIABILITIES.
The announcements of the Rittenhousc Manu-
featuring Company's failure made a painful
sensation yesterday, not only in Passaic. y. j..
where The woollcn mills Of the concern are. but
in Paterson, and. in fact. wherever Edward II.
Anlmidown. head of the corporation, is known
On application of cY-State Senator j. W. GrlgGs
Of Paterson as counsel for Mr.. Ammidown and
Mr. Gardiner. of the firm, Ncr-t hanccllor Van
Fleet. of Ncw-Jerscy. has appointed William
Barbour, of Paterson, receiver of the Rttenhouso
Company Mr. Barbour is n member of the
Barbour Flax Spinning Company of Paterson. and
the 5arbour Brothers Company, of Ncw-l0rk. en-
tcnsve lncn-thrcad manufacturers.
Tao woocn firm is one Of the largest and
hcst-known houses in the trade in the
United States. IT. was organized IN 1876
by Edward II. Ammidown, Charles IL.
Ammidown and :. 4. Clark. Large mills were
erected in passaic for tie manufacture OF blankets
and other woollen goods, and later an additional
mill OF four stories. was put up for making tap
rstric> of silk wool AMI other textiles Tho
firm employs several hundred hands and is one
Of The time -honore1 and respected institutions OF
PasSaic Mr. Clark'S stock was absorbed BY fhc
Anmidown brothers. aud otter the death Of Charles
H. Ammidown a part of his stock was taken by
his brother and ahout - 600 more sold 10 Ed
mrnd IrBrcton Gardiner, who made general
manager of the concern. The selling agents of
the Rittenhouse Manufacturing Company in New
Yori; Ammidown y Smith. successors TO Am
mi Town. Lam" ~ Company.
u, b,,t fc rnrI I m
down. who lately. during the monetary Sirn-
gcncy. made mp his mind that the cnss
would have to he met by either an assignment OF
rccaiyership. the latter course being finally do.
cidcd upon The business of the manufacturing
concern las been poor for long time. and the
mills lately have tecu losing money steadily.
The liabilities are said to he about $500 COO. and
Mr. Ammidown's own cstimat" OF the assets J.
S2u.o0o loss than that figure. The receiver VIII
continue 10 run the mills lor the present el' II
j. considered certain that Inc DhSnr,S VIII !"
wound mp ~ soon aS possible
Nr AmuIdowu and Mr Gardiner also are
lnreciv intrrcst"I in the Dundee Water Powci
and Land Company. This concern owns valua pf
franchises and water rights ~ PaSsllc, and main
f.Iu> ~ ,lual. # put up q hig dam az Dundee:
l.,,ycrn Paqsaic and Paterson and number ot
prorrrtv-own-rs along the river who are anxious
fo secure navigation - Paterson. have a sun PEN"
iry in 'hr New- Jersey courts against me com
plu, aud backed hr ~" Paterson B"'fd M n
Trade. - compel TIE pIhucc 'WP'UN ~ '.l"
ttc alleged conditions of rN charter ana pu,
l,rL- INTO ifs canal that vessels can got around
the dam and 20 up . Paterson
Vr kmmldovn rc'olutcly cclined 70 see
newspaper men last night no orc heinz allowed
Z, enter the hall Of hiN house. Nr HaIdli'I,
however tindly came ont OF SICK hrd 7" see
The Tribune reporter. BIT hcsscd +" he excused
from talking on the subject
o. our suspension. Ike other, which haze nap
ncned recently. was brought about By the tight
80 ir the none, market. he said. here
We're a number II sudden and very heavy calls
which We were unable ~ meet ~ this critical
,innc inviting more | am unable 70 say. and
.ot yba, the outcome will bc | can tell nothing.