The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-07-13

PHILADELPHIA, July 12.-Frederick
j. Amweg, builder and contractor, 1895
Chestnut street, Monday made an as.
signment for the benefit of creditors,
with liabilities amounting to over
$1,000
Mr.. Amweg is engaged in extensive
building operations in this city and
State and in Virginia. He is one of the
contractors engaged in erecting the
State Hospital for the Chronic Insane at
Wernersville. This contract alone
amounts to 1904. 900. OF this amount
about onethird has been paid by the State
az the work has progressed. Another con.
tract now under way in this city amounts
to $4,000 and three others aggregate
total Of &c., 900.
Mr.. Amweg said last night that his
assignment was caused by the inability
to collect money owing him and he was
simply compelled TO take this course to
protect himself and his creditors. For
the past ten days or two weeks, he said.
he has been depending on promised paw.
ments amounting 70 $4,000.
~ have not yet received a dollar"
said MIR. Amweg last night, land was
forced to give up. But nv creditors
will be paid dollar for dollar" he added.
Mr.. Amweg has prepared statement
OF his assets and liabilities which shows
balance OF Sl55, 900 above his indebted.
ness. According to this statement his
assets aggregate S470,319, in which
amount is included the total of contrac IT'S
now under way. The liabilities aggre.
gate $4,000, leaving the balance as
above stated
Mt. Amweg said that the reports con-
corning the alleged faulty construction
of the Warnersville Hospital buildings
had injured him considerably.
Mr.. Amweg stated that he expects to
go right on with his various contracts
and hopes to see them all successfully
completed.
George w. Jacobs, Jr., has been
named as assignee for Amweg, who, by
his deed OF assignment, conveys no real
estate. The deed bears date OF to. day.
Mr.. j ID. Lazell, Mr.. Amweg's Roam.
oke representative, who has charge OF
all his work in Roanoke, returned from
Philadelphia yesterday morning and
was seen last night by TIMES reporter.
o"Mr. Amweg," said he, made his as.
slgnment at the suggestion of his sure
ties, the German American Title and
Trust Company OF Philadelphia, in
order that his contracts might be car.
ried out without interruption. Mr..
Amweg's assets are OF the most sub.
stantial character, and within ninety
days he will resume and pay 100 cents
on the dollar His assets are not less
than 100000 and his liabilities only
about S35O,O0O.
"The immediate cause of his assign
ment was the failure of the State of
Pennsylvania, for some unknown reason,
to pay S3s, 600, due July 3, on approved
estimates. The lack of this money
threw him back on certain payments,
and few importunate creditors rushed
in. At any ordinary time Mr. Amweg
would have had no difficulty in obtain.
! ing all the accommodation in Philadel.
phia which he might have required, but
that city is now in tighter financial
lines than at any time since 1873.
while he has done over 5000, 1000
worth of work in this city Mr.. Amweg's
Roanoke liabilities are not over SIS, 1000,
amply secured, and these will be among
the first to be liquidated. No small
part of Mr. Amweg's embarrassment
can be traced to his failure to receive
S5l 600 due on the Academy of Music
since its completion last October"