Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-05-26
I'd EDITION.
GAVE UP THE FIGHT.
E1-Secretary Charles Foster Ceases
to Struggle Against Misfortune.
SUNDAY FAIR OPENING.


He Gives Up Long Fight Against Adverse
Fortune.
CINCINNATI, May 26-A special to the Post
from Fostoria, Ohio. says:
Ex-Secretary Charles Foster Of the Treasury
has failed and made an assignment Mr..
Foster was in business in Fostoria as q dry
goods merchant. Soon after the war closed he
helped to organize the Eos toria National Bank.
By shrewd speculation in real estate he became
wealthy and in 1879, when elected governor of
Ohio for the first time, was reputed to be worth
81. 0O0. OO0
During the next four years he lost heavily in
Lake Superior copper mines, in natural gas and
street railway speculations at Fndlay. During
its temporary boom he invested largely. When
the bubble burst he. with many others, was
caught for many thousands of dollars.
He also lost by indorsing notes for business
and political friends. Since then he has at
tempted to recoup his losses, but only became
deeply involved.
The crash was temporarily averted by his ap-
pointment as Secretary Of the Treasury. It is
thought that he will at best not be able to more
than pay his debts.
New YORK, May 26.-The Foster Banking
Company Of Fostoria, Ohio, which il reported
to have assigned this morning, according to the
last issue of the Bankers Almanac has capital
of only $40. 600. surplus Of $4,000 and undi-
The New York corrasrondert ~ tho Eo.t.r
BANKING Comnanv ia tbe National Sbos .nd
Leather Bank OF No. 27l Broadway.
WHAT SAID IN NEW YORK.
Geo. F. Baker, president of the First National
Rank said tn n renorter that be w.s srr,r;s.d
to hear of Foster l. Co. Is failure. altbouab he
knew thew had not as mucb roonev "a thav
wanted. Thew had not borrowed very ex tensively
not lose ANYTHING bv The failure However
Mr. Baker said he had no knowiados Of the
failure and could not confirm the ranort
The bank had received mo sdvic, q, The
failure of the firm.
At the Chase Nat;on., R.nL u w.. s.;d that m
notice had been received there ~ Tho sa;,r-o
and the renort therefore could not tbererora he
confirmed
No astonisbment WAS manifested in Wall
street nv wel,-ipformed banLers Of Fost.r =
Co. 5 failure. One banker said he was not at
ali snrnr;s.d q, !. o h -, a. - - - IL
in n iirht nlace for monev for sona ,;nna NJ
Foster had been caught between seed time and
harvest he continued. and he was unable like
many others TO Oct money wben bs needed ~
and like them he has undonbtedlv
had to throw nm the snonoe Ons
trorble with him undoubtedIv has heer tbe
fact that he interested in SO MANY things
and Ii IS bad time for man to be carrying
LOO lI n sa.i.
Ia ca,,;.al frp,, ann 70 =
but their credit is only rated nv that acercv ss
second class.
coxSrrpx.r,ox An ,os-or
fosfoAiA' ohlo, May Zo.-hx-secretary OF
the treasury Charles Foster startled the bus
ment OF his vast ..iness ipterasts for tho hon.-
~ ~ his crad;,o.s " ~. OoAo
His nssirnees is 7 r Corm,ao . nror,;,.,t
banker of Bucyrns aud a warm fr;an5 ~ NJ
Fosters. The iiohiiities arc oiyan ont hy NJ
Foster AZ being $500 900 and tine assets are
nbout the same He made Tho .ss;,nm,ant
during the night and the naners wsre t;iad ~
Tifiu by Mr.. scott his attorney
At an early bour ihis morpirc thu b,rL ~
Foster \ 10 was closed on an ..,anhn'an. 81
SO. 200 in favor of the Isaac Harter Mi,l;no
Company. and at the same time the Wholesale
grocery house of Davis and Foster was closed
D D an "''aenhieAt LOT sl,ZoO In favor OF u 1.
T;a r,r.soo -, a., A.
linking many neonle had that tbers vss sor,s.
thing wrong. and 1t soon leaked ont that AN
ass:cnuent had heo, ,n,Ja Tha na,r. .,,,o.I
-ap,dlv and soon the streets were f f,I1sd r;at
people to learn the extent OF the calamity that
had befalien the CITY
o,yrn co,,
r,. iA.-
Ane "ss's'i'"eh Oh secretary roster was the
signal for the assignment of a number OF con-
Germs in which be was interested. The brass
and iron works was one of the concar6s n
ASSIGN. Besides Mr. Foster Mr. Portz vas
one of the owners of tbis corcern Ths
liabilities and assets of this con,n.,v nv. ~
cluded with the nerson., statement ~ The sac-
ret.rv Tho Vorhorrc CoIc;na1 - $500
window class comr.n;ss throa concarns ~
have been backed Inv Mr. Foster will austen
today
The extent Of .bs fa;,ure ia an great that ito
sicnidcance can scarcely be realized a half
dn,an nromiuart indnstr;.s will ~, ,ha I'll
employment.
The loss to business men who we're depositors
IN osIef 20. panS is one Oh the depioraole
i;eved none ~ TIM viii, srtfer 20 an :,.ent