Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-03-24

business men in Martins kerry and
Wheeling were surprised and sorry,
yesterday, when it became known that
the Northwood Glass Company, which
removed from Martins Ferry to Ell
wood, Pa, about four years ago, had
made an assignment, and that this had
been followed by the assignments Of
Messrs. Henry Floto, Thomas Mears
and William Mann, of Martins Ferry.
The Northwood Company has recent
ly been doing business, if not at loss,
certainly without a balance remaining
on the right side of the ledger as a re-
suit Of its operations, and in addition,
the affairs of the corporation have been
somewhat complicated by private in
terests of one sort and another. The
management of the Company struggled
along however hoping that the rough
places could be tided over, but within
a few days it became apparent that the
end was not far off, and yesterday the
Company made an assignment. This
action was followed by the piling up Of
judgments from a number OF heavy
creditors, among them being the Peo-
pies Savings Bank. of Martins Ferry,
for $7,527 IS, and Gray, Smith & Co.,
of Martins Ferry, for S5,015.55. This
action by the Company and its credit
ors involved Messrs. Mann, Floto and
Mears, who, with the Henry Helling
heirs and Harry Northwood, were the
sole owners of the plant, and Mr. Floto
assigned to Frank r. Sedgwick, Mr..
Mears to George H. Smith, cashier of
the Commercial Bank, Of Martins Fer
ry, and Mr.. Mann to w. T. Gra-
ham, of the Aetna-Standard mill.
The liabilities of the Company
will probably reach $4,000 while the
assets are estimated at $3.50, 900 by one
of the owners. The assignment of the
| three Martins Ferry gentlemen named
were not made through sheer necessity,
as they are probably worth 100000,
but simply for the protection of their
interests. as it is explained, against
claims of the Helling estate and re-
sulting complications.
OF the stock of the Northwood. about
iii CC-LOul lllS Mdo Wv ll6u ~ .iAcSSl D
Mann. FlotO and Mears. while the re-
mainder was owned by Harry North
wood, who was one of the original
incorporators and the general manager
of the plant. while Henry Helling had
an interest while the plant was operat-
ed in Martins Ferry. Before the plant
was removed from Martins Ferry, and
during the lifetime of Henry Helling,
he and Messrs. Mann, FlotO and Mears
endorsed notes to the amount of 100000
for the benefit of the Company. After
the death of Henry Helling and the re-
moyal of the Company to Ellwood, the
interest Of the Helling estate, which has
never been divided, was representa- in
the Company by Mr.. Charles Helling,
who was made Secretary and also a
member of the Board of Directors. 1t
is now understood that the represent
ative of the Helling estate claims that
the estate is liable on but about $4,000
of the paper made as aforesaid during
the life of Henry Helling, and it is fur
ther asserted that the remaining paper
was signed up without the assent OF
the estate. These notes had been run
ming for some time. and creditors have
been pressing for a settlement, and this
fact, added TO the dispute as to liability,
the lack of profit from running the
works. and other claims and conditions,
resulted in the assignment of the Com
Dany to w. f. French. of Beaver Pa,
followed by the individual assignments
above referred to. The factory is not
running at present,