Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1893-08-26
IN RECEIVERS HANDS.
The Oliver Iron and Steel Company
Forced to the Wall.

/
The Oliver Iron and Steel Company
Forced to the Wall.
The work of 6 reform goes merri-
" on. The robber tariff barons who
for many years have been grinding
the life-blood' out of thousands Of
workingmen in and about Pittsburg
are getting their 'just deserts. +" They
have been paying their men from S.
to SIS per day and last year the men
at Homestead struck. The strike
ended after the November election and
no one has struck for higher wages or
shorter hours since, but quite goodly
number have struck out and are now
engaged in the very aesthetic exercise
of counting railroad ties Of monopolis-
tic corporations.
The reformers" have gained an
other glorious victory"
| The following press despatch tells
the story
The Oliver Iron and Steel Company,
one of the largest concerns in the
country, went into the hands of
receiver on the nth The application
was made before Judge Acheson, ofthe
United States circuit court, by the
National Tube Works Company of
New Jersey, and L. c. Converse, of
New York and Pittsburg, and H. w
Oliver, senior mem Der of the firm, was
appointed. In the bill, it is alleged
that the capital stock of the company
was ST, 600, 900 and that the indebted
ness was $500, 600. OF this amount
$500. 900 is payable in ninety days.
About $500, 900 more is collateral bills
payable by pledge, of pig iron and
stocks and bonds in coke and natural
gas companies. The bonded indebted
ness is ssS5.ooo. The company,
through ]. B. Oliver, admitted the
allegations and attributed the enl
barrassment to the stringency of the
money market and the depression i'll
business. If reasonable time was
given, all liabilities could be satisfied
without sacrificing the assets or de-
stroying the value of the conpany's
property.
Judge Acheson then appointed II.
w. Oliver receiver. The company
has extensive plants in Pittsburg and
Allegheny and employs about 1000
men. They are also largely interested
in the coke and natural gas business.
When in full operation the sales ofthe
company will aggregate SIS, 500, 900 per
q mum.
Thus it is that firms which were an
untold blessing to entire conmuni-
ties are forced into liquidation and men
thrown out of employment. Demo
Gratis have been wont to howl about
the poor, downtrodden working
men," and so persistent were they
that the workingmen actually and
honestly come to believe they were
being robbed. Last fall, following the
advice of men of the ilk of Hon. VIM.
l.. Wilson. the free trader, many OF
4 these men voted to take the bread out
of the mouths of their wives and chill
dren and the roof from over their own
heads. And when Republican news
paper calls attention to these FACTS,
Democratic journalists hold up their
hands in holy horror and exclaim,
"You are doing wrong p " You
should not mention those things y
"These men voted as we told them to
vote, but it is not right to blame us
for the trouble !" Yes, too many OF
those men voted for it. They may
see the error of their way, but the
probabilities are they will not When
a man S source of livelihood is gone,
when the last dollar has deserted his
pocket, when he once hears his chill
dren cry for bread and is not able to
supply their want, when he sees his
wife in rags and tatters, his manhood
usually deserts him and he is ready to
do something desperate. He may rob
or steal or burn or murder he may
end it all by taking his OWE life, or he
may rise in his manhood. make bold
strike, and once more win a place i'll
the world. Nothing so debases man
as poverty nothing to elevates him
as prosperity Workers are the boon
and sinew of the Nation, her bulwark
of defense in adversely, and her strong
support in prosperity. Give them an
opportunity to get living and they
are happy Remove that opportunity
and the result is as told by humble
worker at a mass meeting in New
York Monday evening:
BREAD IN JAIL.
Barnard Bray said Brother work
ingmen. let us protest against being
called anarchists. Because we are
hungry and ask for work, is it any
reason why we should be called an
archists 2 | would be glad to get
black bread to eat | stand here as an