Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-08-29

business of Simpson & Hazlstt, includ-
ing interest in part CT lot No. {, in the
Old Town Of Wheeling.
49, Interest in the assets OF the late
firm or Simpson e. Hoge.
20. -Four certain policies OF life IN
surancs, issued y the United States
Life Insurance Company, of New York
q. All personal properly, notes, EVIL
| dances of debts due, etc.
The ass. gnee is to convert these assets
irso cash Inthe usual manner and 10 pay
all debts ra;abiy.
Henry NJ. Russell, attorney for Mr..
Simpson, made thu following statement
yesterday afternoon:-
"Mr. Simpson executed to-day deed
of assignment, in which he embraced
his real and personal property OF every
I description. This property consists Of
his dwelling house on Fifteenth street,
and the office building at present occu-
pied by Simpson & Hazlett, on Market
street, with lands in BraXton county,
| Kansas, Missouri and Washington City.
His personal property consists of stock
in various companies and curiIies held
by him, and mis- interests in the firm Of
Simpson G Hoge, with some other less
valuable personal assets, such as fur
niture and other things.
"At the time Of the assignment Of the
Royal Clay Manufacturing Company,
which afterwards went into the hands
Of a receiver, Mr.. Simpson was an &C
commCdati0n endorser On the paper OF
the Company to the amount OF about
100000. Ii was supposed by persons in
teres.ed in the Royal Clay Company
that the assets would be sufficient TO
pay all of its debts, but the necessity OF
working its affairs out through a re-
ss.yer has caused unavoidable delay, and
the holders OF some Of the paper on
which Mr.. Simpson is endorser have been
unwilling TO await the closing up OF the
affairs Of the Company. No trouble was
experienced with any of the Wheeling
banks. but one of th5se creditors r.
Gently Instituted suit against Mr.. Snip
son in the Circuit Court of this county,
and others threatened TO do the like
Under these circumstances there seem
Cd to be no way TO prevent che CT the
creditors from getting an advantage over
the others, exc pit by the making OF @
general assignment for the benefit CT all
The creditors, in proportion to their
-Msbts. II was especially undesirable
that one Of thsse creditors should get
the advantage suggested because It's
claim IVES a surety debt CT Mr.. Simp-
son. 5. and ii did not seem right that such
a debt should be allowed to obtain pref
erence Over debts and personal liabili-
ties which Mr.. Simpson owes to other
persons. These personal debts Of Mr..
Simpson are but trifing compared with
the value of his property, and could
have been readily handled had 1t not
been for the unfortunate endorsements.
"a conservative estimate CT the prop
erty conveyed by the assignment makes
il probable that there will be sufficient
TO sa sly all of Mr. Simpsons debts.
Among other things, the assignment
CONVEYS Mr.. Simpsons interest in the
firm Of Simpson & Hazlett. Except that
il has become necessary 10 dissolve TINS
firm by reason Of the assignment the
business of ihe firm will not be at ali
affected or interfered with. The firm
has been doing a prosperous business,
and has kept away from mourning la
bilides of any kind. The assignee in
the Gesd Of assignment is Mr. Howard
H2z,ett. the business partner OF Mr..
Simpson"
In conclusion. Mr.. Russell expressed
the deepest regret at the unfortunate
management, in which Assignee Haz-
lett concurred. and in which every resi-
dsnt Of Wheeling and vicinity will
heartily join.