The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-10-29
BLAKEs ASSIGNMENT.
Some Further Particulars Concern
ing His Financial Downfall.

BLAKEs ASSIGNMENT.
Some Further Particulars Concern
ing His Financial Downfall.
The San Francisco Examiner says,
concerning the Blake assignment:
Isaac E. Blake was a wealthy man
a few years ago. He made a big for
tune by mining operations in Colorado,
but 1t has apparently slipped away
from him, and now the sheriff is look
ing for any property he may have in
this city on which to levy attachments.
The papers in three suits against Mr..
Blake were placed in the sheriff's hands
yesterday. One writ was for stock of
the Nevada bank, which the too enter
prising speculator was supposed to
own. Others were for shares of an oil
company, in which Blake had been
leading figure. 1t is understood that the
search made for property in mis- name
was unsuccessful yesterday.
He has possessions elsewhere, which
will doubtless be taken to pay his
heavy Indebtedness to the Union Ma
tional bank of Denver which is the
basis of the suits. The promissory notes
involved in these actions amount to
S195,000. and the interest on them ag-
gregates S25,450. The notes were given
in 1892 and 1898. and the sums they
are for show that Blakes credit was
very good in Denver. He drew $25, 900
one day and gave in exchange a bit of
paper with his signature attached. AT
another time he wanted $4,000, and the
bank let him have it. He got SIS, 900
soon after. and twice he was supplied
with $4,000.
The writs of attachments, which
were presented. for service in this city.
were obtained with the hope that Blake
might have possessions in San Francis
co, but seemingly there was no GER
tainty on the point. 1t was said at the
Nevada bank that Blake had business
transactions with that institution. but
never owned any Of the stock, and now
has no interest there. The plaintiff in
the suits is r. NJ. Woodbury., a rich
resident of Denver, to whom the bank
assigned its claim. The search for
Blake's property is so thorough as to
cause the inference that he will have
nothing left when the banks account
with him is settled.
Mr.. Blake has carried on his financial
operations in Denver, Los Angeles and
New York. When his mines enriched
him he went into other schemes. He
devoted himself largely to the oil bust
company which won a large trade on
this coast. He invested in the southern
part of this state during the boom
period, and from that time on paid
much attention to ventures in and
around Los Angeles. He took oil lands
and sunk much money in that way.
He owned the Needles Reduction
works, and had large interests in the
Mojave district. His numerous ventures
kept him travelling a good deal between
this state, Colorado and New York. He
seems at present an eXemplification of
the folly of having too many irons in
the fire
The project which last engaged his
attention was the building of rail-
way.
The following telegram concerning
him was received from Los Angeles:
| Los Angeles. Oct 25.-Isaac E. Blake
| has no particular standing in Los An
geles. He was here d short time age
in connection with his proposition to
build the Nevada Southern, a short
road to connect the western terminus
of the projected Salt Lake road. and
an effort was made to float $4,000 worth
of bonds, but without success. 1t is
not believed that Blake has any prop
erty now located in Los Angeles. He Is
said to be now in New York. In rela-
ton to the road fostered by Blake a
Los Angeles evening paper printed the
| following:
Columns upon columns have been
| consumed in booming Salt Lake and
Nevada Southern enterprises. and now
| it is only actual practical steps that
| attract much attention to these pro-
| jects. Like any other new railroad
| the Nevada Southern has gone through
a number of vicissitudes, and is now
| destined to fall into new hands. with ar
extra good prospect of an early extern
sion into Nevada. SO far, the enter
prise has been the victim of the money
panic and a not dazziingly brilliant
management. The result has been ar
ENHANCEMENT that was considered hope
| less unless the creditors would combine
on a basis that would save the property
and extend it to a more paying basis
A number of creditors held a meeting
| in this city this week and formulated 6
| plan of reorganization which, if agreed
to by all creditors. will doubtless result
| in an early completion of the road
Isaac E. Blake, the original protector
of the road, has resigned that POSITION
but it is understood that he will retair
an interest in the new deal. 1t is alSC
stated that the Santa Fe is taking ar
Interest in the reorganization plan will
view of securing the controlling inter
est in the completed road as a feeder
for the main line.
| If the creditors consent to accep
bonds of the road it is believed tina
there will be no trouble in pushins
through reorganization and of speed
lily extending the road on fifty-six mile
from Marvel to Good Springs. Th
will require about $350000, and there il
said to be an excellent prospect of get
ting the money in New York, especiall,
if the elections go right.
A gentleman interested in the Nevad;
| Southern says that this road will I'm
doubtedly be built, and will be the frs
one to reach Salt Lake. At present 1t i
only completed to Good Springs, addin,
something over fifty miles to the thirt,
miles already built from Blake, on tn
Atlantic & Pacific railroad
A Times special from San Der
nardino tonight says that the Nevad
Southern railroad was attached toda,
for S37, 900, by Bright & Crandall, con
tractors, for construction work done
Suits were also brought in the superio
court of that county, at the same time
by four plaintiffs, claiming sums rang
ing from 1856 to 1854 for labor performe
on the road.
Railway Notes.
The appoir tment of c. w. Randall a
general agent for the Rio Grande EXPIRES
company, at Denver is conceded all aroun
to be wise movement on the part of tn
mana cement.
The Denver, Lakewood & Golden Rail
way company announces that the line wi
be in operation as far as Ralston owe
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