Telegram-herald., 1890-11-27
CLOSED IT'S DOORS
ABsrking Firm in Dalpth, kinn..
Saspenss.
a Hamer That Their Liabilities Nni
gxoess 81 .ooo 600 Trssblss.
81 the ). L. Fsfls Company


F0kcss ro sO&rGsR
rtIurn hiEn. Aos ae-keh a
Elstsg. bankers. 81 tkis city, olosoa theis
dosrs sna declared themselves uaAtis
g. neel thsir ohls.tloHs promising,
Ao~evss s1st creditors ~eala ss PA1a
in fail
gth raner.S shat ne hshllluss wll
exceed s.. Dos Gee
~ EAD flK
DErRegr. hlst., NsY. se The AA-
tilitiss ef ths J r fots salt
Lumber CempsnF are pisees a. 81
ese eo0. kansrsss 81 thousands 81
whioh 10 net secured The assets
are plsooa al - ose. aea eut tlls IA
elodss ne rsilroAa nili proYerty, etc.
on which lt would es ssrF eNra % resl-
iEe The company ssns About Soao. 900
feet 81 stumpsEe, upen which tht fsaer-
al Bark o. Toronto has contract len.
the original amount bsinE Stoc uo0. hs
concern fsiled Ia ltsa and since thea
has been oeinf business on borrowe.
e4pitA
Mat the result of the eu hsrraSsueut
vii be can not nov be ststec. IL ce-
pencs en the larger creditors The
company may be seie cut. "a NAV work
out or al NAV ss saorl hoed.
Tie principal oreditsrs here state
that they are amply secured,
which is true y the mortgages
fled hold good. There isalErxo amount
% oebu. however. large and small.
which are not secures 81 ali Mr.
LuckinE. of Conely. haybary a Luek-
ing. who Is Etternsy for the Potts
company SAYS the company iound
its paper rapidly csclnlng and
60 proceeded 10 secure the banks In
the sum o. se2s. o0e. in reuad nun bers
The property is worth tw os the
smount OF the mortgages snd % assign
meat Is contemplated The company
viii continue ia the business and hopes
20 DO so right slsHs.
The com npahy owBs the largest saw
mill In the world. ss vel ss a magnin-
cent domain OF hiehirHn forest The
Potts oomrxny practically owns = town
Of 600 souls called PettS The Potts
railroad runs froE ososda - somewhere
IN Montgomery County. Abous forty
miles o. the system frcn Osoods and
Au Sauble TO Petts are operated regu.
DO mall service Tks rest 10 slnr ply in
the losging trsnsc ana fros the
terminus pcneirstes in various ci-
rections into the woods IL n es-
tinsted thst tks company hks ever
100 miles % track The posses.
sions of the company in EertheAstern
michiran are enormous It has tought
pine wherever IL could be had. and
pushed its rsilresd int tks tracts, cuts
the loES torn up shs rails and left The
pine fast disappearing. the hard wood
WAS next secured. untsl now the Pots
deeds cover section after section and
mile after mile OF maple and beech
timber
II A EECrIvEn's nASps
PoHTLAsp, Ore, New. ss.-Tbs Ore
gen Improvement Company has been
placed in the ksads OF receiver. les
iniebtsd ness is safe 90 br e. 600 600 and
its assets sic oeo. eoo. sfringsncy IN the
money market made IL iEpossible "
renew certain loans sbsut 70 mature
COTTON KIN GO down.
"a. Allen a cc.. o. Mezphis Tenn. one
Of the Oldest and most sJ tensiFe cotton
commission firms in the sonth, has
made an assignment
A conservative estimate of the firms
liabilities as made by enc ef its mem
bers ia about s7so. 900 with ssssts st al
500 o0o
NEW YoKN Nov. GO The Arm o'
Richard H. Allen A Co. bankers and
commission merchants. at 81 and -
Broad street made an assignment 20
Frank K. Walter. Richard II Allen
also made an individual assignment 20
the same person Nssthsr assignment
gives any preferences. Liabilities are
estimated al g.. 90. eo0.
PTTTSs tssKTs AND LisHTLrrEt
GBANp bArrDs hseh-. New. - At
meeting of the creditors of r O.
Peters here Tussdsy the ss srisory con-
nittee reported The assets % Peters and
the Salt and IUmh Der CenpsH toTethcr
10 be s.. 800, see. liabilities. g.. coo. 600
The salt and Luub Der Coupsny is
solvent Assess. ti.see. oeo, surplus
over liabilities $500. ooe Peters hsbl-
tiles srceed TIE assete bv s7ae 600