The sun., 1893-05-27

and humiliation feel. II could bear all the
burden that my failure will entail should feel
sense Of relief 1t is no consolation to look
back over business life OF forty-flve years.
which has gained for me o position OF conf
dence that has rarely been achieved. know
that have aided hundreds Of people to main.
tain an honorable standing and to gain COM
potency. aud some largo degree Of wealth. /
know that now have By my failure injured
many people. But hope none are to be
ruined. When I returned from Washing
ton knew that my endorsements for tho
window glass companies and the brass and
iron works company were very large-eo
large. in fact. as to induce me to fear that
would have to suspend at that time. l. how
ever. prevailed upon a friend to give me large
amount OF help. and then felt confident that
sould maintain myself and finally come out
all right These concerns owed more than
then supposed. and. to add to my misfortunes.
the Affairs of the Fostoria Light and Power
Company. Of which am q large stockholder
and epdorssr. proved to be In bad shape dnan.
cially. Then came the unfortunate financial
Sradition Of tha country. EYsry one that owed
wanted his money and no ono would lend
Payments for glass. instead OF being in cash.
were made In paper. Sales. in fact. came to a
standstiIL I struggled. seeking every possl-
bio m cans to tide over the situation. until
am compelled to assign. did not give up the
struggle till to-day. May 2G.
It will take the assignee some time to
make up the schedule Of my affairs. In my
affairs include Foster & Co.. the Crocker.
Mambourg. and Calcined Glass Companies.
the Brass and Iron Works. and the Fostoria
Light and Power Company. can see plainly
that In settling my affairs through the courts.
thus com pelling my assets to be reduced to
cash. large sacrifices will be made. This be-
IL. aL,.e
debts will be paid In full. The other concerns
with which am connected are all on O sound
basis except possibly Davis & Foster. They
hsye surplus OF $4,000. and ought to pay in
fu!i .s....,.. .,,.,.
It will speedily recover. believe our bust
ness concerns, are all In . sound and healthy
0H strong. bspositors a @ With them need not ieel
any alarm ~ sSld ny two blocks and four par; Hj
Tor @ j large u sum VI i oi money. and have turaed
overt him my stock in Cunningham 4 Co.
tho ssgs snd tW: rss
upon me to invest their money. 1t being about
sil ths property they have. amountin4 to about
II is only Just to myself to- say that two
nsIs. tnilGs hSyS W caused my downiaIL One a was
tion to politics. and the other was an over
tdS ttesSus desire to build pp FGst0r1 40 not
ssths one 9 end %; Or which T shall / i've. IN this
ths, WA ts deeply shocked over the financial
snss t" n dssfes hs "sa asse sH
IF 1G nspdns ens
eonpanlsa. the brass and Iron works COM
psnles snh @ ths light and power company. will be be
ap sn9c9 eoxs1 tb Thf Sfsts on rAI9E w
mas secured the school fund and tho building
srd loan association funds against loss"
Nose on the inside knew it must come. but to
TSs general Snssr public It was great surprise: %
scott a tePers styarnsy wSrs Fled at 1hn D'
Am sary hour this moruing tho bank Of
sSN5t sSSt u C9. , was c3sed on m attaehm%snt % for
sempany ami at the same time the wholesale
1esfy house Of Davis \ Foster was closed
Brow attachment tor sl.2OO in favor OF o. 7.
t0Ilhs presence of the Sheriff was the first
sSnsthIng wrong. and it soon leaked out that
spreas ass'gnmsnt y. had been made. The news
sspa'y ~ and the streets were ied with
That hal Deiailen the city
ths ne saS aaSssignmsnt Of ex Secretary Foster was
sOseasns ssnsl e for the assignment oi number Of
6Tass 6Vs,ns ms 10 which he was intsrested. The
SssiSb E ana .iGw ir9G works was one Of the first to
siths owners Of this. The liabilities and as as
ssssa q: s:; Ss:$E:s #pi5:
Hsss HassseSo three that have been
Tvked by Mr.. Foster will resign to- IN orrow
aeeHtent me extent Of the failure 10 SO great that its
d,kniheance na can scarcely be- realized Half
w.1n Sn1sn prominent industries Will go to the
out 81 ana smn hIndreds OF persons Will 10 thrown
a., run was made on tho Mechanics Savings
opensd this 5 morning az 500 soon as Its doors were
Heoh the cashiers desk the demands Of al!
hasin nhnsntened depositors were promptly met and
AShs Ms was turned away.
Ihs loss TO Fostoris Is severe. but great as
Mi III IL ~ no way lessens the regret and sym
s,thy expressed for the ex-Secretary 1t Is
ssSasrslly c9nceded that his generosity and
.oI his financial downfall. He WAS ever ready
Fesa Festass h hslpng hand to the poor and worthy.
k'Ss a., merchant soon afterthe war closed, and
nhte'ped to organize tho Fostoria National
ssms as became wealthy. and In 1873. When elected
Soh ~ tSs 5st t'psi psiiins Hss the he
SensrtoSru S tSur c6Sn years he lost heavily In, Lake
Snr dnr,1sar street Get railway speculatons at Fndlay
IeHppH ils temporary boom he invested large
hnr h.,