The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-09-29

Open accounts aud hills receivable, 10000 90
Real estate appraised at. s8+.77@ 70
Total. ss1o5774 %
On Nov. !. 1885, the company entered into
an arrangement with the Mercantile Trust
the amount Of r. e and the COMPANY
was secured BY the deposit Of real estate
81 f?a ike
was entered into on Jan. l. 1889. with the New,
England safe DEPOSIT 1T, Company OF Missouri is ~
iS9o5 5 also With the Boston SAFE Deposit
and Trust, Company of Massachusetts on
es By Mth The Of New RDsand
IL sps Of ssss s seeaEsd y
$4,000: Tith b, Alfred Trysr q Io W%insioew:
amount Of 81 1881 n SECURED en BY
The cause for going into the HANDS OF re-
ceiysrs is given as the hard times. The petit
and that owing to the financial stringency 1t
only way for the Court to protect the interest
OF all concerned is by tho appointment OF re-
ceivers
Benjamin NJ. Fowler, one of the applicants
for receivers. holds In his own right seven de-
beatures Of the company. worth In the aggre;:
the debentures all Of which Dear interest at
5se e o SOD dse but mot
paid to him. The other applicant. j. q. Zachry.
holds twenty-five shares OF the stock, OF the
value Of 500 each. The receivers are vested
required to give bonds Of G each anu arc
M Ths company owns property IN New York.
s 6ho Msaya nSafe
Pennsylvania. Boston. and also In Great Brit
Mr. jarvis, the President of the company.
ana one OF the receivers. when seen asst even
Ing made the following statement for the
The company reluctantly recognized the
neeessity for the appointment OF receivers for
the projection Of It's creditors and stockhold-
depression in business. and it may almost be-
sala mat SUSPENSION or postponement q pay
asd ns al
value Of The property and assets Of the Jarvis
S monk Mortgage Trust Company under ord
xlhh return of normal conditions, or
now prevailing. the company will be able to
resume operations and renew Its credit upon
tss basiS which has prevailed for Or SO many
sion Of payments by mortgageors. the sudden
and violent collapse In marketable values. and
TIE company has encountered a situation
which 1t could not overcome. except through
me course which has been taken. we we're
prepared for oil ordinary storms. but not Tor
cyclone
The business of the company has. from the
msnSsca DHen has asrs ssYey s aed premsy
meet meet not only all it's own obligations to deben.
S a0 s4 p sTf d addition on has stock
last regular semi ANNUAL iyidend having been
on tho St O. yuary last Its business
Sspt few @f trt,ing character ever having
peen sustained by, It, Its obligations were
aeibe rule on a rsf' Practice sS " Of the company
that tho real property covered should be ap:
t Praised at two and half times the value OF
t n loans, thus reasonably insuring the com ON
nany and Its security holders against any ultl-
mate oss,
I,xII h S, GH9fImpany was organIzed under the
stock S3OO0,OOO. the original issue Of
Jn ,nooiU0 having been fully paid In In cash. In
259Ippo,, 20 per cent, Of which was paid in
IN easl, when the financial stringency be-
yamo very acuto in August last. the directors
Issued Issued cali for the payment OF the 20 pei
sS oeP I'll pshissss ana s sPSsP y f {Sc
Stashrehold"rs is found in the fact that not
tm terms n Psr q TITS call was by Its
y, snh %ne iIesent year. considerable payments on
ssSS0scriH'ions have already been made by the
tsbnsatretplhcrs; and 1t is confidently expected
,,ne lreSh capital Of 81. l25. 900 thus coming in
St. ,iGn"nalany will shortly be able to resume it,
CoDTI,,GG og,se, the suspension of tho Jarvis
sII Ssli n, Mortgage Trust Company win moi
wSuon Is that of trustee. nor does it In AM
ofjarss e co or HeSt apy business 81 the l5a
"'o officers Of the company"
'e'fi" Ambulsncrs on Street-cnr Tracks
NJ LorE. Mo-. Sept. 2s.-The city authorl
WOE nave decided to build one or more electro
cSind.outnces for use in street car and other ac
cnn. nls The various street railways hhy
t6siS t ra to supply power and iree, use o
nm tracks tracks, and the car will be switched AM
'ho construction OF the first car.
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