The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-01-22
MANY BUSINESS FAILURES.


mouse Applies the Air Brakes.
MONTREAL, Jan. 2I.--The firm of Gil
mour, Lindsay & Co. had two demands
Tor assignment made upon them today.
Their total liabilities are $500.
McLachlan Bros. Il Co, whose troubles
were noted few days ago, have assigned.
with liabilities of $4,000.
NEW YORK, Jan. 2l.-The EQUITABLE In
suTance Company, because of small capital
and improbable business, will wind up its
affairs
The Mound City Distillery Company has
secured in New York attachments for
1921 against Bamberger & Keanpfer.
wine dealers, San Francisco.
The Suffolk National bank. of Boston.
hold note for 5000 against Higgins q
CO., Brooklyn, y. Y, soap makers. The
bank learns that the company has trans
ferred, hence an attachment has been sued
out.
PITTsBUEe. Jan. IA letter from Lon
don states thai Westinghouse has received
$4,000 for airbrake patents from Lon
don company. He is also TO receive $50. oOO
year to cover any airbrake inventions he
may produce. II is the expectation here
that Westinghouse VIII now rescue his
electric company, which is in sad financial
straits
OMAHA. ian. 2l.-For some unknown
cause run was made ON the South Omaha
branch of the Nebraska Savings and Ex-
change bank this afternoon. The bank
was Kept open till a late hour to pay all
the depositors in full President Miles
says the bank is fully prepared to meet
every obligation.
ATcHIsoS, Jan. 2f.-The Cawker CITY
state bank has failed and is in the hands
of a receiver. The liabilities and assets
cannot be ascertained.
CHICAGO, Jan. 2l.-George NJ Bogue was
this morning appointed receiver of the Pa
cine Railway Company, of Los Angeles.
Cal, on complaint by Judgment creditors.
The bill sets forth that the company, which
was organized in 1889 by c. Is. Holmes, a
well-known cable road man, and
other capitalists with capital
Of s25,00,oo0, is insolvent. 1t is
stated as probable that the company
will shortly be reorganized A confession
OF Judgment the other day for 81 ,62S on
note executed January 8, 10 Edward W.
Russell by c. B. Holmes, is said 10 be the
entering wedge in that direction. The
Pacific railway is a cable road operated by c.
B. Holmes, its president. The stockholders
are mostly Chicago men. Over $1,000. 900
was raised in this city alone. Instead of
lost money from the start and now its in
debtedness is said TO reach $4,000. The
trouble seems to be that the investment
was too heavy for the amount of business
to be done. The recent Judgment is said
10 be the first move by the Chi
cago stockholders 70 put the
Pacific railway on a new basis.
II is, sin fact, preconcerted movement
on the part of the creditors TO obtain other
judgments and have the road placed in the
hands OF receiver. 1t is the intention 10
completely reorganize the company. II is
said that the road is now earning $50, 900
year net. and that by cutting down ex-
pensey and running il on close business
principles it can be made to pay, or at
least clear expenses.
There is side issue in connection with
this matter. 4 corporation known as the
National Railway Company met yes
terday. 1t is one of c. B. Holmes
street car syndicates. and it seems
that some OF the stock OF its st. Louis
lines was transferred TO the Los Angeles
road The stockholders were inclined TO
make row about ii, until explanations
We're made and per cent. dividend de-
clared.
KANSAS CRY. Jan. 2l.-While the run
on the Kansas City Safe Deposit and Saw
ings bank was continued this morning,
the indications were that the end is near