The times. [volume] (Richmond, Va.) 1890-1903, 1893-08-10
AN IRON KING ASSIGNS.
yr loses MILLIONS IN RAILROAD
FNTERPRIsEs.
49,. MIR. Robert ~. Coleman, Of Lebanon,
,..esp PARA OF His Fortnue--suii Part
ovnor Of Three Ore Mountains, sc.

fTBhNtN, ~ fN"o~~N = Nt''
,.,,r H. coleman. the well-known
,... millionaire. has made an assign
His liabilities will approximate
.... and one-half millions OF dollars.
.t is asserted that they may exceed
,. assets. Mr.. Coleman's interest in
... Jacksonville. Tampa and Key West
-,ay has brought him into the present
..real dlmcmues.
.,erai suits. Instituted on account of
b.. ALLEGED hypothecation Of $4,000 worth
49, bonds Of that road by Mr. Coleman.
,,eu ASS continued losses and the in
.bry 90 pay interest, compelled him on
January q. 1891. to borrow $500.oo0 from
r. pennsylvania Trust Company. THIS
,...-.ruon was followed on February q.
t Iy another forced loan of 81 sOo. 900.
... . mortgage on June 20, lSg2. for $685.
r. for interest remaining due and un-
Bis financial downfall has thrown a
vtof county into vague unrest, and his
lr.n.al fail is looked upon by the people
almost as the downfall OF a king might
b. -eardcd by his faithful subjects.
Robert II. Coleman Is a king-an un-
,r.,ueI king. 10 may be. nOw-but he
f.. been q king His kingdom was the
Lebanon Valley. and his might was the
r.elt ~ iron.
Tro chief bcnehciaries Of an estate
.tl.n could have been sold at almost
.r time for S30000.oJo. Mr. Coleman has
t..r one 81 the most romantic figures
f. American lie His wealth lay in
rri Honoath that land all around Corn
er lay iron. Millions Of tons OF ore.
g. pure as 10 be almost ready for the
f.rra or anvil lay in the hills. which
wore mostly his. There were three solid
fountains Of ore-enough, II seemed 10
those who first examined It, to girt the
world with railroad tracks and build
a1 me navics Of the seas.
There was a glamor Of romance about
.he young man Robert n. Coleman, the
.r of William Coleman. and named after
William Coleman's brother whose heir
l. was. who succeeded 10 the greatest
single interest IN the estate. and TO the
Colebro0k and other furnaces
Wo was finely educated when he sue
caadod 10 the estate. lie had fine bust
mess capacity. and was a man Of push
ana enterprise. The whole country for
miles around his ore beds felt the innu-
once Of his kindness and his sense OF
fairness. lie built the Cornwall and
I..ianon railroad for his own conve-
nience. and it is in his absolute control.
and rs the best managed and best equip
r.d railroad I'm the world.
portion OF his estate was admirably
HtoI for picnic grounds. and large OPEN
rir demonstrations. lie turned IL over to
OH. state for National Guard emcamp-
ments
Do married n beautiful young lady. TO
whom be was deeply attached. Back Of
cornwall. overlooking his vast posses
t.us ne planned "a castle for her home,
f. like Of which Pennsylvania people
h.l never seen. II was expensive, and
Ga hitting place for the queen Of the iron
lr- While work was still in progress
Dis wife died out OF respect 20 her
memory Mr.. Coleman ordered II torn
r the ground and every vestige Of the
castle removed. The grass is growing
ue.niy to-day on the spot.
These are only few Of the many incl
dents in the Hfe OF the man, which. how
0rar show some Of the many interesting
aIts OF his character.
ffr Coleman had really much more
money than he knew what 10 do with.
N. travelled abroad and then returned 20
america and married again. He looked
around for means Of investing his money.
D.. .etahlished banks. He built iron works
Or The manufacture Of the iron after ~
..... from his furnaces Finally, In an
.,r f7v he invested in Florida lands.
TrAs led him to become Interested In
poHla railroads. He bSlt the Jackson
wife, Tampa and Key West railroad al
f.., urailel and his friends think that
l.i much 90 do with bringing on MS
present Embarrassment.
When he took 10 building Florida rail
r.1ls DO found something which would
swallow money faster than the Lebanon
or. beds could produce IT.
SIR Coleman began 10 feel the pinch or
IrI times in 1891. when he confessed
Nl.ment 90 the pennsylvania IiNst ton-
rry. Of Reading, for S.5OO.Oo me mat
Or was not made public at that time.
nni only within the last few DAYS has al
fer1on been drawn 10 his trouble
Sow FL appears that the to;al judy
u.uIs against him aggregate Sw4'po.
1He Indebtedness TO the PennsylV3nia
Crust Company Is 5000 50). judgments
,.r- also entered against him on last
s. Saturday in favor OF Archibald Rogers,
o.. New York city. They are five IN mum
. r amounting 20 S2l2.60. $4,000. $~,OO'
1000 and 10000 respectively.
The judgments IN favor Of Mr. Rogers
ard. said 10 Doe fol money borrowed TO in
y..i an Florida railroads and other en-
t.rDriees. The proceedings are Of an
am.cable character and are largely de-
SIGNED 10 protect the interest OF the Cole
rIg estate.
1rr Rogers married Mr.. Coemans SIS
i.r. and she has very large interest IN
... "iror hills" 81 Lebanon. Mr. Rogers
the head Of the syndicate which has
.uut the cup defending yacht Coionia.
I'm addition go these debts which Mr.
Coleman has confessed there are suits
.erIlug against him in the United States
re1it courts for about 100000.
There are also other disputes which
threaten To mar the harmony and auto
.lmv OF the famous estate. A contest is
hroafenod over the administration OF the
state ~ George Dawson Coleman, son OF
,ohsrt w. Coleman, who died in Paris IN
.n. When the case came mp before the
l.aister az wills In Philadelphia on APP
iilation for letters of administration
.arfram Dawson Coleman objected 10 the
cttlcment IL il believed that LEGAL com
lications have FASTENED the trouble Of
robert H. Coleman. being assisted by
ne business depression and the low price
# iron ore.
The history Of the famous iron hills"
fl Cornwall and Of the Cornwall furnaces
.t.g back more than one hundred and
.tv-eicht years. The original deed FOR
Pa. land was given by John Thomas and |
ehard Penn I'm 1881 to Peter Grub
nrhh. in consideration OF the transfer or |
rouniHcent eft. was 10 pay yearly |
a. rncaefcr. Pa on the first day OF |
t.rr March the sum OF one shilling |
? Ing for each one hundred acres. For /
i-a shillings he got 800 acres. and these
acres contain the famous ore beds,
d. richest ia the world. the output OF |
ah..h exceeds the income OF many
r. ... limo Lnovv, during the |