Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-16

From these figures il viii be seen that the
company represent their assets to be 81, 81, +,
454 52 in excess of their liabilities.
A BIG MORTGAGE HELD IN THE EAST.
The report published yesterday upon the
authority of a man who thought he knew
al about it TO the effect that the S4OO, 600
mortgage referred TO in the company's
statement was held by the Bank of Pitts
burg is denied by that institution. Viii.
Liam Roseburg, cashier of the bank, said
yesterday: ''The Bank of Pittsburg does
not hold any mortgage against the Moor,
head-McCleane Company, and never did.
The amount of the company's paper held by
the bank is not over one-tenth of the
amount Of that mortgage"
Ii IS the impression of Pittsburg banker,
who has some knowledge of the matter
that the mortgage Of $500, ,000 is held by an
Eastern insurance company. The total
amount OF paper of the company held by all
OF the PitJsburg banks, the same authority
stated. would not exceed S400 900.
George Shiras, Jr., counsel for the CON-
paHy, stated last evening that there was no
doubt about the solvency of the concern,
and that the extension would be granted
''The creditors are all feeling first rate, %
he said. Hand there viii be no further trou-
ble. The mills are running TO their full
cauacity, the employees are satisfied and
everything IS jubilant. Why, 1 believe
this viii do the firm good. -
1t was stated last evening in banking cir
cies that the total amount held bv the Pitts
burg banks is divided among II institutions,
among which are the Exchange Bank, the
Bank OF Pittsburg, the Tradesmen's, the
Peoples, the Farmers Deposit, the Union
and the Diamond. These institutions are
al sid 20 be amply secured, and are not
Worrying about the matter.
\ report gained considerable currency on
the street Yesterday, the purport of which
was that the employees Of the company were
very much dissatisfied about affairs at the
company's mills, and that great trouble was
threatened. The story also contained de-
tails OF an outbreak threatened on account
Of certain ruTnors about the loan and build
ing association in which the employees are
mutually interested
RUMoRS WITHOUT FOUNDATION,
These rumors, as investigation proved.
were without foundation. A reporter
visited the works and found every depart
ment in fall operation and the men
thoroughly in sympathy with their employ
crs. They were confident of the firms
ability to meet all their obligations, with
plenty to spare.
An important change took place in the
management OF the mills yesterday, when
John H. Miller assumed the position of
general manager of the works, vice George
+. McCleane, resigned Mr. McCleane re-
sigued the ! osition on account of i'll health,
which has not been improved by the great
amount OF labor his duties involved. Mr.
Miller was formerly superintendent of the
Ealvanizing department and assistant man.
ager Of the entire works. He has been
connected with the works for over 33 years
To a DISPATCH reporter he said that
the men were all satisfied and doing all
they could to keep the mills in success
ful operation. He stated also that there
was no doubt about the extention being
granted. He is one of the officials of the
Employees Loan and Building Association,
and when asked about the alleged troubles
in that institution he denounced it.
I'VE had the best and largest meeting of
the association last night. he said, shat