Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-07-11
BUSINESS.


Galveston, Tex, July specially
Today the North Galveston Land and
Improvement association went into the
hands Of receiver. The liabilities are
estimated at $4,000. " which SGn.-
OlO is due contractors and various other
parties In this city. The assets are the
lands. t0wnsite aud improvements there
o. at North Galveston, Values not
given. The Minneapolis Trust COMPANY.
Receivers for the Northwestern Guaranty
and Loan company. made the application
IA the state district court for receiver
% take charge ~ the property at North
Galveston. which contains 0 population
Of 20 or 3nl people aud several small
factories. The plaintiffs nlleee IN their
petition that l. T., Menaee, president ~
the North Galveston Land aud Improve,
mcnt company also 81 the Northwestern
Guaranty and Loan company, trans.
ferrel aud hyrothceatcd 10 the plaintiff
pa shares Of the North Galveston n.so.
citation and they advanced large sums n
money on this security aud other rollnter-
~ which was used IN improvements al
North Galveston. The liiiOn further
states that said NIenuga 4is wholly faii
ed aud refused % pay siid advances. and
that said stock Is a part Of the assets of
the Northwestern Guaranty and Loan
company. About SiMOuu has been "a.
pended. The building OF "a hosiery and
wool securing factory the Enierprisc
Brick and Pottery company. the Indus.
trial hotel; az cost oi $4,000, and fur
nlture valued at $4,000 the North
Galveston Journal and numcrots other
enterprises 20 10 make NJ the amount.
The petition elsd prays that an iuiune.
non be issued rcstraiung all persons
from lcvying gn attachment or implying
for receiver for any aud ~ NJ the yari.
Gus sldo corporations Of the North Gul-
The court carefully considering the
Application, the prayer OF the petition
was granted. and H. A. llrcsc was an
pointed rerivrr mud his bond placed AT
$1,000. Mr. Reese wus appointed 20.
cel[cr- OF the North Galveston, Houston
aud Kansas City railroad last saturday
which " an adjunct Of the North GA
weston Land aud Improvement nsso,l1.
tion. There nru several other creditors
not mentioned In the petition, which
have claims against the North Galveston
company, some OF these have alrpl iv
instituted suits In intervention for tbe
recovery OF Their claims.
The most distressing feature nho,.
tho assignment II the iinpecuninus san.
dllion of the employees OF the Nor.b
Galveston company. They have received
no wages for several months, and arc II
absolute want of the neccssarIcs Of Ms
Ihey anu others were induced TO como
%fNiAA ''NAN NNNhN Nliltl inc uIUag
iaticring promises, and now they nr,
pcnnilcss aud destitute without tbp inen1s
70 buy bread. much less get away. /,
Is believed The first effort at the rrcely ,r
Will be to provide means for their rei.f
The town Of North Galveston, which
IS located on high point on the Wat
side OF Galveston bay, eighteen mil =
north Of this city, started ont under Tho
most hhtteting auspices. Tho company
offered liberal Inducements 10 factori
TO locate there, promising them hoih
wafer and rail communications 10 ont.
side markets, Wharves mere 10 be con.
strucied, a channel dredged ont 10 nj.
nit vessels Of ten and fifteen fs,t
drauEht, aud other improvements made
that would bring the town into pronlin.
fncr as q manufacturing aud comInerci II
point. The failure Of tho North,vns.
humanity aud Loan company, which w1s
backing the entcrprlsN brought M -,
schemes 60 u sudden collapse, ana lis.
itress and want Is the result. II X h..
heyed TINT by proper management tnj
let-up In the strlngency Of Inc non,,y
market. that the North Galveston ,nin.
ness In full