New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-09-27

1T WILL SAVE HIS CREDITORS HE SAYS.
THE MANY SCHEMES AND ENTERPRISES WHICH
HAVE FILLED HIS TIME-HIs DAZZLING IN


HAVE FILLED HIS TIME-HIs DAZZLING IN
BUSINESS. POLITICS AND CHARITY.
Surprise and considerable regret were called forth
Yesterday afternoon by the announcement that
oliver Sumner Teal had made assignment for
the benefit OF his creditors Francis Farquhar. OF
No 100 broadway Mr.. TEAL has been conspicuous
IN this city for the last eight ten years for his
business enterprise and his interest in charities and
politics He is "A native Of Syracuse. where he was
born about forty years ago. Later he went 10 Cai-
fornia where ne was a clerk In store and ex-
perienced many difficulties. Returning to the East
he settled in New York. became Interested in real
estate and his popularity and push soon brought
him forward not only in business, but In social
circles.
Mr.. Teall declares that he has made his assign
ment especially In the interest of all his creditors.
and to save them from probable losses lie has
been conspicuously advancing the interests OF the
property of the E!msford Park Company. at Fins
ford. Westchester County. This organization mas
a capital of 100000 and OF this sum Mr. TealI says
he represents 81 900 In his right The property
consists In an option on between so and 900 acres
OF land, which, the company alleges. has been
nearly all sold on instruments. payable In monthly
sums The Real Estate Union. with 10000 capital.
of which Mr. Teal says he owns $500 ana OF
which organization he is president. has been acting
as an agent for the Elmsford company.
This is Mr.. Tealls authorized statement. in part
OF the affair
Il have made a personal assignment. not because
/ have financial embarrassments of my own but IN
order that | may protect the interests OF n large
number OF people who have bought lots from US al
Elmsford and who trusting In me to protect
their interests My indebtedness OF personal
nature is very light. and would not trouble me 'or
an Instant but 1t is the debts Of the different socie-
ties and companies with which have been con-
nected that are causing me this present trouble
Il have paid out Of my own pocket thousands OF
dollars In the last and half for these d1ereh'
institutions and am able and mean 10 clear OH AZ
the balance OF the debts; but as there seems to be
a disposition In certain quarters TO press me little
harder than | think right under the circumstances,
| have concluded 10 place my affairs ana the aiiairt
Of my companies In such position that the inter
ests OF all concerned may be protected. and snail
not be subjected to annoyances by those VINO seem
determined 10 attack on private matters through
e nav ppot been and am not asking for any
slstance or sympathy do not need either; but
do not propose longer TO have men racing fOINI
after me on HOLIDAYS and at unusual hours and then
send Word to the papers that am to be- found.
No one who ever really wanted to Sc me mas ever
had any difficulty In finding me. ana al statements
to the contrary are as ungenerous as 'hey are un-
Mr. Teal met the newspaper reporters. yesterday
afternoon at ne ohics Of h,s eonnse' o 9 ne:
anieresch Johnson no ;1d Mis Mr. Trn
declined TO tell IT. saying all must walt un'li his
attorneys incidentally remarked that he thought
the Indebtedness would amount 10 sl'pD. ana ms
Teall EXPRESSED the belief that by means Of the a.
slgnmcn he would tc enabled not oniy 10 save Nm
SIT but all others from large osse3.
Mr. Teal belongs e. The Union League. Lawyers
club. Country club u Wescheste. County. ami the
Yale Alumni Association.
on chris mas. i@e, he organized committee
and secured a fund for. and personally superin-
tended the distribution of candies. fruits and toys
to several thousand poor children In Madison Square
Garden Several months he organized the
"Anti-Treat!ng Society" having for ~ object tic
discouiinuance Of the practice Of men treating
Ia drinks Al the bars. Recently he announced the
removal of his legal residence into the ia As
sembly District In order that he might become
active in the interests Of local Republican politics
among the poorer classes.