Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1893-07-13

mortgage on the same property TO James
w. Converse of Boston, for the sum OF
$4,000! Little did Wilmington's young
Napoleon of finance dream of the great
possibilities, when in suitable hands, Of
the property he held so lightly and was
so anxious to relieve himself and his
father-in-law OF. He never dreamed IL
could develop $150,000.
THE FIRST SAD BLOW.
Before Sutton's notes became due the
Atkinson House Furnishing Company
made an assignment, and a receiver,
James w. Converse of Boston, was APP
pointed. This took place March 18th,
1898. 1t was the first revelation, the
opening shock, experienced by young
Sutton in the New York speculation
field. 1t was q terrible blow-one
sufficient to stagger Vanderbilt. II
was a Waterloo. Then as was heard
from the mouth of the great Napoleon
on the Belgian battlefield, the cry Of
'sauve qui peut' was the order of the
day In the Miller-Sutton camp. Sutton
chose as the policy to be followed by
| himself and his father-in-law that of
immediate action in the direction of
| protecting such of their means as re-
|
THE STORY IN HANDS, BUT NOT USED.
Since early in March of this year, and
close after the date March 18th of the
assignment and the appointment of u
receiver for the Atkinson House Fur
nishing Company, EVERY EVENING has
been in the possession of the major
share of the facts in connection with
the Sutton Miller difficulties. Yet for
reasons obvious enough at the time, and
although the publication has been made
in this paper of judgments recorded
against Sutton, yet the story showing
the details which led up to the present
peculiar state of affairs has been studi-
ously kept from publication out Of con-
sideration Of those implicated in the
matter. The propriety, however, of
telling the story at this time will be
readily apprehended in the perusal.
HIDING AWAY ASSETS.
The method followed was practically
to hide existing assets away in whatever
direction offered the surest security from
legal approach. Their own State, little
Delaware, furnished this "Cave OF
Adullam." It was found in the corpora
ton known as the Sussex Land and
Cattle Company" spoken of as one Of
those obscure mushroom concerns char
tered by the Legislature, for what de-
finite purpose it is difficult exactly to
say, otherwise than it is similar to Others
of its kind which bob up serenely here
and there to the surprise of the law
makers themselves just as much as tc
the public.
A SUDDENLY WEALTHY CONCERN.
The name of the company and its in
corpurators define it sufficiently. The
latter arc as follows: Charles H. Treat
1.-THE Congressional candidate in 1885,
against John B. Pennington, and whose
business record in Delaware is about Of
bad as any that the financial annals Of
this little State can show, A. B. Bang
hart, Eli II. Sharp, Samuel j. Thomp
son, and, last, but not least, j. Francis
Bacon.
1t is learned that the capital stock Of
the Sussex Land and Cattle Company
is $4,000, in 400 shares of $40 each
One of the incorporates referred tt
above was asked, last week, as to thu
assets of the company. His surprising
: i reply was the assertion that it own
assets to the extent of $200,000l II,
added the information that it has char
; ter privileges to increase its stock to the
: sum Of 100000.
/, The charter in question is of tina
nature familiar to all visitors to Dove
!. during legislative sessions, and which
il is understood, are obtained for purel,
!, speculative purposes. AT any rate, the,
:, were admirably fitted for just such ext
y gencies as the present
| This WAC the aertl rp hn rhor nf rpfil o.
offered to Levi H. Miller to plump hi
residue of real estate transformed int
personal property, and which he truste,
!, would be hidden here safe from tn
4 hands of the Phiistines. II means tba
the name of Levi Ii. Miller is non
:, existent as available from the attacks @
y creditors. 1t is understood that Mile
: and Sutton became proprietors of th
concern and its virtual owners throug
I, some such condition as the ownership
of almost all the stock.
l. Taking up now the story of the hidin
), away of Miller's assets, which of cours
u was the logical sequence to any troubl
over the Atkinson House Furnishin
" Company assignment, and more particu
u larly still whatever action was calle
for in any prospective movement fol
|
y ration would simply,be the official recor
y of the steps by which Miller placed hi
u assets in the Sussex Land and Cattl
y Company. None of the notes were mt
20 when due.
. 1t has been asserted by Mr.. Suite
. that the stock OF the Atkinson Hous
u Furnishing Company is looking up an
u that the article, as a money market 1t
10 vestment is now good. And he has d.
MED that the assignment and the al
q pointment of a receiver has injured h
&c solvency.
a THE VARIOUS JUDGMENTS.
.e The following judgments We're r
Is corded at the close of the past Me-
O term of superior court. They are Il
ii moneys due on notes, with interest, c
h Sutton's endorsed by Miller;
" Tenth National Bank, Philadel-
N phia. .....,.,...........,...S 25,000I
,s >Kensington Bank of Philadel-
r. phia...,. OBSERVATION-DISCLOSURES. 25,27S.
Y National State Bank of Camden,
% N. J..... OBSERVATION-DISCLOSURES. 5O,2IS.
1t National Bank of Delaware, this
s. city. Observation-Disclosures. 1O,099.
al Union National Bank, this city,. 10,O94
in $100, $50.
In addition, against Sutton there is
Id Judgment to the Girard Life Insuran
n Annuity and Trust Company f
o. $50,379.25; to the Union Nation
Nv Bank, $10,082.70; to Anna M. al
lis Elizabeth s. McClees, $3,132o2; and
Ii more recent Judgment in favor of Judd
Nv Ball, trustee for Susan r. Miller, wi
as ofLevi II. Miller, for $4,000.
e, Against Levi H. Miller were record,