The Indianapolis journal., 1893-07-23
Assignment at New Albany Yesterday,
with Liabilities of SS0O,0OO.
Mr. DePsuw and tho New Albany Rail Mill
Company Execute Deeds for Over Million
to the Union Trust Company as Assignee.
1t Is Claimed the Vast DePauw Interests
in the State Are Unscathed.
Kentucky National Bank with 81, ,000, 900 Cap
ital Closed, Together with Two Big Mil
Waukee Banks-0ther Suspensions.
NEARLY A MILLION INVOLVED.

Eastern Creditors Close In and Force G. w.
DePauw To tho Wall.
Special TO the Indianapolis Journal
NEW ALBANY, Ind, Jolly 22.-Charles W.
DePsuw and the New Albany Rail Mills
Company made assignments this afternoon
for the benefit OF creditors. The causes
leading to the assignments were the failure
OF the Premier steel works at indianapolis
several months ago. Mr.. DePauw holding
645C shares of stock In this concern. The
deed includes Mr. DePauw's residence In
Orange county. undivided onc-folrth of
all property In Floyd county, held by the
Washington c. DePauw estate; the New
Albany rail mill and American foundry.
with all fixtures and machinery; one-half
interest in thirteen lots in Durango. Col.
and one-eighth interest in land known
a. Andy Shore tract in LaPlata coun-
ty. Colorado. He also conveys to the
Union Trust Company. of Indianapolis
which is made assignee. all his personal
property. which includes his undivided
interest and share In and of the estate of
w. c. DePsuw, deceased, as legatee under
his will, subject, however. to mortgages
executed by c. w. DePauw TO the New
Albany National Bank. First National
Bank, Merchants National Bank, and 5. A.
Culbertson, all of New Albany. The per-
: sonal property includes five hundred shares
In the DePsuw Glass Company, 1900 shares
In the w. G. DePsuw Glass Company. COL
lateral held by New Albany National Bank.
S25.O00; by Boris Brothers. $4,000: by the
First National Bank. S40,0 900. Also 503
shares in New Albany rail mill
and five hundred shares in New Albany
woolen mills; collateral held by Merchants
Falls iron works; collateral held by Mrs. +.
l.. DePauw, as trustee, $4,000 DePauw
plate-glass works bonds; collateral held by
Bank of kentucky. at Louisville. S2l. 900
eral held by J. w. Ray. $4,000 DePauw
glass works bonds; collateral held by 3. A.
Culbertson. $4,000 DePauw plate-glsss
works bonds; collateral held by Merchants
National Bank, 1.1O0 shares in tho Snow.
Mining. Company stock; collateral
held by Bank Of Commerce of
Indianapolis. 2.&77 shares Alice L. Mining
Company stock and $50 shares Middle len
Dessee Coal and Land Company; collateral
held by }. X. Woodwa jr.. of this city.
fOrty-three shares of Southern News Com
pany. thirty-slx shares Floyd County Fair
Association. ten shares Little Fails
remier steel works. 172 shares Chicago.
Chattanooga Il Indiana Southern railway,
three-sixteenthsi interest In Champion Coal
Company. of Durango. Col, one-fourth in
terest In Cora Mining claim. one-fourth
interest in Laplats Chief claim, one half in
terest ia City of Charters Company, over
S3O 900 of stock in the Bank of Commerce,
Indianapolis. held as collateral. $50 shares
Second National Bank of Louisville; COL
lateral held by Mrs. G. w. DePauw, ninety
shares bank of Commerce of Louisville;
collateral held by tho Bank of Kentucky.
twenty shares New Albany National Bank
and ten shares Merchants National Bank.
A few minutes later another deed of as
signment covering the New Albany Rail
Mills Company was filed. The officers are
Charles w. DePauw president. n. L. De
PAW vice president, Albert Trinler uan-
ager. The deed included real estate in
Madison county and also iye lots In the
town of Alexandria. Ind. The Union Trust
Company Of indianapolis is made assignee.
The last deed conveys all the machinery
used in the rail mill in this city and Alex.
andria.
The total assets are valued at 81, ,000, 900,
with liabilities of about $500. 900. Mr.. De
Pauw said after the assignments: Il can
say but little regarding the assignments. 1t
is personal one, and does not In any
shape or form affect the interest of my
brother, n. 7, DePauw. The failure was
caused by the COR ptingent liabilities on the
paper of the Premier Steel Company and
the rail mill company, and the financial
stringenoy now prevailing throughout the
country. The assets will Day two for one
If am able to realize on the securities. |
am unable to give the assets or liabilities.
but q statement will be made Tuesday for
the public"
Mr.. DePauw's individual assignments is
q sweeping one. and the man who was
worth 81 000. 600 three months ago is now
practically penniIess. The debts for which
Mr. DePauw became liable. for the New Al.
bauy rail mill and the Premier steel works,
amount to about SsO0.000. OF these over
100000 worth are Endorsements for the
Premier steel works and the remainder for
the New Albany rail mill. The value of
these two plants and stocks on hand IN or
dinary times might be placed at S2.000 600.
the Premier works being worth S1.500,000,
and the rail mill S5000OO Mr.. DePauw In
cludes in his assignment hundreds of
thousands of dollars worth of valuable
stocks and all personal possessions, down
to his shotgun and fishing tackle.