New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-27
lBY TELEGRAPH To THE TRBuNE.i

Boston, March 2G.-Tlc american Bubbin. spool and
shuttle COMPANY has made assignment to william
A. French and Iovcreti = Tuckerman, both OF TINS
city. 1t is n big concern. United SttFs Dl''r''
Attorney Remick. OF New-IIampshrc. considered IT
trust: but last December, when he Instituted proceed
ngs against il, he failed TO make the 'hilcI suites
Grand Jury agree with him. The company IS capita
lied for 92.OOO,COO, and was organized under 'he
laws Of the state OF Mpne in Jannary, lSol. IL
controls more than half the b0bbl, spool ana shuttle
factories I'm New England. and during the hfeen
months Of Us existence II has been trying nam 10 ec
the rest The general Offices are at NO. 80 hliol e'
this city, George NJ. Endic0tt of the firm N Emu
colt ~ Maconiber, insurance agents. l. pfeS'uc"''
William French. of the ALr:m French Sons Company
is treasurer: and Lewis G. Boss is general manager.
Mr.. EndIcott the president. said to-day Inc
floating debt OF the concern. between SVoo'Voo "uu
300 600 was too heavy, considering the la' '"' '"o
securities in the treasury had mol been sun III"
assignment was entirely voluntary ana iHehuS o'"'
The company is doing - large and rapidly lhcre"''ls
business and making money The assets are 9''o'o"
more than enough to pay all the company "''''
With a business approaching 1loOoooo year ""'
a staple industry. II would Dc mistake not To nave
the thing continue in some form. With those assets
beyond liabilities, no creditor can lo7e oOihr' d"
attachments were being placed on dhe 'omPu''
property and II was thought best for all Interests TO
assign. to protest all creditors ahke' ~ -
now for the banks TO say Whcther vi Nv
NOT the business shall 60 ON. The business Is very
thriving ire company now having more o'ue's Vi"
hand Than can be Immediately hllcd.'
Du,ing the last thirty days the company has en-
deavorcd "a negotiate its securities, and Mr. tndcou
said that II 1t had had more time the h1'er 'on'u
have been adjusted lie added 1T Is Tor the III
terest all concerned 10 allow the business l" go GU
Il is large and growing. As well rs proh'aDe al" We
have n. customers the largest aud hes: mills in the
country
This company practically controls the manufactnre
~ holbns shuites and spoos for this country Most Of
,he factories for this work are In New E'sEhu' "''
only IA alfdozen minor ones outside IL was o't"'
led the officers assert, because the business wa"
rolng 70 the dogs by reason Of he grSli composition
among the manufacturer. Among the uhhuii' '''e''
in New England ia the American Bcbbu. spool and
shuttle Company are the NASHUA Bobbh, slH"' "''"
shuttle Company the George Il saunders COMPANY
and The Isaac Eaton Shuttle Company. OF Nashua
y H.: the Ooburn shuttle Company, Of Lowell me
Burlington Spool and shuttle Company oi hWl"f'o"
VI the New BediONl spool and boDblh company, '"'
Fall River spool aud Bpbbin Company. the 'hlm Sh"
tie. Company Of Lawrence. aud the NoohH"che' HP'"
and pollln Company and tire Woonsoclet Shuttle Com
pany Of Woon,Ocket Il. J. one Of the largo shuttle
and bobbin companies IN NewEngland. tie Baldwin
Corpopt,on OF Manchester. y. H.. and several Other
companies Of fair size are not IN the combination
There had previously existed nn as>oclaton oil '"-'e
,huttIe manufacturers. but ~hca tie big conb!iauoH
vas made this body d-oivrd and onS fo"r "' a'
lively. meml.srs went into the new organization. Inc
companyy credit has AWAY teen considered above par
and All the concerns composing had stool vel! beioge
the consolidation.
United states District Attorney Eemcks move last
December which was made because OF the upfescniA
tions OF cx Congressman Moore, Of Nashua. 10 the
United state, Attorney General, undoubtedly nnrctd
the standing Of The company; bu the action Of the
1rfftf la frf
the officers was greatly IN the concerns favor Mt
Moore acted against the company because be believed
il was doing an injury 10 Nashua. special Examiner
Horton worked mp the for the Government Ihe
contention Of the company was thai the cDnblhhll N
wns moi , trust because the different concerns we've
bought bv the parent organization. rather Than con
solidnfe4 pnvmerts for the plant and good VIII OF
each being made Is stocks am bonds III tle ne" coh
ccrn and in some cases by cash.