Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1892-03-31

Gays, the inference intended 0elng that
IL had been removed with view TO ex-
empting IL from attachment. One Of the
firms representatives said:
"Not.a dollars worth of the property
referred to belonged to Paige, Carey &
Co., and the man who wrote the item
must have known it, If he knew any
thing. The property was taken 70
Ceredo, to aid in the work going on
down there, ana was taken in the ordin-
airy course of business"
This was corroborated by another
gentleman, in a position to know the
facts.
Cashier William Lathrop said last
evening:
THE attachments made to-day are
not so large in the aggregate but that
the firm will be able to liquidate, If lot
of outside claims are not jumped In.
The total so far, including the Freeport
Stone Company, can be met out OF
money due from the city, and other re-
sources. There is no need for uneasi-
ness, as the thing looks at present"
Mr.. p. L. Haley said:
1.-THE bridge is all right. 1t can be
finished for 81, 900 and work on 1t will
go on. We will be at work again In
week, il they'll give US chance. The
thing was precipitated by certain pub
LEGATION few days ago, in which, either
through ignorance or malice, our Com
pany was mixed up with the Fairpolnt
bank trouble when there was no connec-
ton whatever between the two things.
Last evening there seemed 10 be
general feeling in favor Of the Com Dany
being given a chance, and many people
expressed the belief that they would
come out all right and pay every dollar,
il not pushed too hard. A Justice OF
the Peace said:
"The Company has been liquidating
as fast as possible. 1 got check yes
terday, in payment of claims, for over
$500, and one for over $500 few days
ago. In the last three weeks have col
lected 81, 800 from them. II they get
breathing room it will turn out all
right"
There were many amusing scenes yes
terday in the anxiety Of the various con-
stables and deputy Sheriffs to get in
their various claims ahead of others.
Last evening one Of the prettiest races
occurred between a deputy Sheriff and
a constable for Justice Kimberly. The
constable won by just half minute.
A telegram from New York says:
"At the Office of Paige, Carey& Co., con-
tractors at No. % Broadway, IL was SAID
bv the clerks to-day that Mr.. Paige was not
in, and would not be in during the day. They
declined TO say where he was or anything
in regard 10 the report from Cleveland
concerning the notes of the firm. The
affairs of the firm have been much talked
about for year past and in July last ID.
X. Paige made an elaborate statement to
Bradstreet's. He claimed total assets OF
81, 1872, POO, of which $976,OOO were firm
assets, S25l, 900 assets OF ID. X.
Paige. Sl5O000 assets of Albert L. Paige
and 81, 900 of D. NJ. Carey. Besides these
assets it was claimed that d. h. Paige had
personal assets not mentioned in the state
ment OF $50 600, A. T. Paige s72, 800 and ID.
M. Carey $1,000. The total liabilities were
81. 345, 900, leaving $40 400 assets at actual
value in excess of liabilities Included in
the assets was their claim Of $500, 600 against
the city for work on the aQueduct, which
was put down at 30 per cent of its full
amount of 100000 Their plant at various
places was valued at S25O, 900 and bonds and
notes of various railroads $4,000. The
personal assets of d. r. Paige consisted
of stock in the Second National bank OF
Akron, O.; State National Bank OF Cleve-
land. Second National Bank of Warren,
o.: National Strawboard Company, OF
Chicago. Paige Tube Company, of Warren,
o.; Paige Bros. Company, OF Akron, Ster-
ling Boiler Company, Of New York,
Trasch Process Soda Company and United
Salt Company, of Cleveland. A. T. Paige
had $50 shares of the Paige Tube Com
panv. Since then ID. NJ. Carey was killed
by an accident on January 14th last. 1t is
said very few banks handled their paper
in this city. The work had no rating at
Bradstreet's. d. X. Paige was director
in the failed North River Bank"
The Cleveland Plain Dealer OF yester-
day said -,
There are people well acquainted with
the business methods of the firm OF Paige,
Carey & Co. who are inclined 10 seriously
doubt whether a single scrap of forged
paper will be found. One OF the keenest
business men in Cleveland, talking with a
Plain Dealer reporter yesterday, said
II doubt whether there is any forged
paper out. At any rate, this agitation
about the notes of Paige, Carey ~ Co.
a
the gainesville bank did little, if any
thing, to hasten the agitation. Four years
ago there was Just about as much OF this
paper in circulation as there is to-day. IT
was for four months and the firm was
SPONTANEOUSLY careful 10 pay the interest and
substitute new paper promptly on the eX-
nirati~n of the old This constant renewal
got to 20 an old story and bankers tired OF IT,.
Such IS always the case with frequently re-
neweS saper. Bankers think that pay day
ought 70 come some time. Things were
ripe for something to explode when the
Central National bank brought suit against
David K. Paige and John Hunting
ton to recover S7,3O7.57. This case
was settled, but do not believe that there
was any foundation for the statement
which has been published that this note
was forged. l am informed that Mr.. Sui
Ivan. the cashier of the bank, who has for
wears been familiar with the signature OF
MIR. HUNTINGTON, was willing TO swear that
the signature, TO the best Of his knowledge
and belief. was genuine. This suit OF the
Central National bank attracted the atten-
ton Of bankers all over northern Ohio. They
knew Mr.. Sullivan as bank examiner and
had great confidence in his judgment
Hence. when he brought suit their fears
were alarmed and the crices was at hand
There is one fortunate feature OF the
matter continued the gentleman, and
that is that the dotes are held by banks
No poor people VIII lose their all: Even
the banks will not suffer greatly. Barring
two there are none that have more than
5000, and that loss can easily be met by
passing dividends
On the other hand the Leader said:
"a prominent bank cashier said to a
Leader reporter yesterday: Why, just
think of it, | wonder if the people realize
what this all meansl Here we have been
making loans in exchange for paper for the
one important reason that IL gave US as
security the Endorsement OF John Hunting
ton. That kind Of security has been held
q Ia DC .rnnd az rrnrer-l menf bonds Can