The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1890-12-11
A costly CAMPAIGN.

A costly CAMPAIGN.
One Result Of Deiamater's Defeat ID
Pennsy ivsnia-Hts Hank st Mesdvil'o
reed to Close Its Doors-Lisbilitses 0f
0lOO. .OOO-A New Orleans Cotton Firm
Fans sor Bctwsen os.ODO.0O0 and o3,-
OOO. .OOO
MEAGvIi! Pa, Dec. 8 -Delamator
4 Co, bankers OF this city, made an as-
signment Friday morning for the bcne.
fit Of creditors. Messrs. Hotchkiss q
McClintnck, assignees, took immediate
possession. The Delamatcrs have here
tofore enjoyed the entire confidence Of
the business community, and recent ru-
mors concerning them have been treat
cd as emanating from political rivals
George W. Delamater. late Republican
candidate for Governor, is president Of
the institution.
Politics is supposed to be the cause
Of the failure. Some say that Dclama-
ter sunk large amount Of money in
the campign. The canvass for tho
nomination lasted six months and cost
enormously. while after the convention
Mr.. Delamater's expenses were large
" increased. lie spent much
money upon marching clubs and
in aid Of all manner Of organ
liberal sum to the State committee,
and frequently answered the call for
funds where they were most needed to
affect the election. Some politicians
estimate that the fight cost the Senator
$50. 900. but that is perhaps too high.
1t cost Quay personally S75,OO0
The first sign Of trouble at Delamater
& Co.'S bank came Immediately after
the Senator's defeat for Governor.
Mr.. Delamatcr had drawn heavily
upon the bank for campaign
funds; many who had dealings
with the firm withdrew their
deposits, and when the financial
stringency OF three weeks ago came tho
bank was not in good trim to sail
through the storm. Mr.. Della
mater. who took his defeat for Governor
philosophically. feels his financial fail
ure keenly. but hopes to come out all
right eventually.
The assignment was precipitatcd by
his brother-in-law. who pressed his
claim OF Sl5.OO0 The liabilities are
about $40 1000 and assets said to be
about the same.
NEW ORLEANe. Dec. 6.-The cotton
house of v. & A. Meyer has suspended
with liabilities aggregating 81, SOC, ,0O0
and assets S3.O.O.OOO. This is the third
largest cotton house in the country
and supposed to be one OF the wealth.
lest They will ask for an extension
and say they will pay dollar fol
dollar. The recent financial panic, the
slowness of collections and the decline
| in the price of cotton each had its share
In the result The house Is composed
of Victor Meyer. vicc-presldent Of tbs
Union National Bank, Adolph Meyer, re-
Gently elected to Congress from tbs
First Louisiana district and Cassius
Meyer. capitalist. The firm was in.
terested in twenty-five or thirty cotton
plantations and owned half dozen oi
the best sugar plantations in the State.
CHICAGO, Dec 6.-As an immediate
result OF the mysterious disappearance
Of Renjamin II. Campbell the Chicagt
Safe 4 Lock Company, one Of tho most
extensive concerns of its kind in the
world, has been forced to as
sign, with stated liabilities oi
5000 900 and assets Of 500. 600. M.
Campbell was president OF the com.
pany, and. according to intimate friends,
sunk great deal of money in attempt
ing to place the house upon paying
basis. His failure to do SO is believed By
his friends TO have unsettled his reason,
and rather than face failure he ended
his troubles by taking his own life.
DULUTH. Minn.. Dec. 6.-The 10
signee Of the suspended Bell 4 EysteI
Bank and OF II. Il Bell. III
proprietor, has completed a state
ment Of the assets and liabilities
The former amount to 81. lS9. $40 and
the latter to S79D.690, or a surplus o
assets over liabilities OF ss9S, 93r.
feeling of renewed confidence exists
which Is increased by the excellen
showing made by the suspended l;anl
CT Commerce at Superior. Depositor,
Of the institutions will be paid d0lla
for dollar and both will doubtless be re
organized.