The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-08-29

"HFNh'E !" 2N1lE luIlN
place yesterday wlieh Mr.. William y,
Simpson OF the nrm OF simpson & lIns-
lett, md one ot tho hos. known aud
reliable b%uSlncss men In the city, made
M assignment for tho bpnpnt OF his
| credlturr.
MIR, simpson has been In irurlncRa In
Wheeling for ytHrF, md has always
been most successful ln. every und4rtak.
inE. During his business career hc has
made friends Of nll With whom he camc
N contact, aid oil his deallhfs have been
honorable IL every particular. The con-
dltlOiis undtf which the assignment IN
made are In themselves proof Of his
honor, lie glvFa up all he has to meet
the obligations caused by his htiSlnbss
endorsement NJ q note for the Royal Clay
Manufacturing Company.
An has tanned ar, Howard ~ttaZlctt rs
the assignee, and the assets Wiil he dis
posed OF IN the USUAL way, ana the re-
celpts Will be divided pro- th,n among
the creditors. Mr.. Simpson has the u!n-
cerc sympathy OF lila many friends and
the community ut large,
sir. itu.wii's statement.
Mr., Henry II. Russell, attorney for
Mr.. Simpson, made the following state
mcht yesterday afternoon:
"Mr. Simpson executed to-day a deed
OF assignment, In which II, embraced
his real and personal property OF every
description. This property consists Of
MS dwelling building, at present ocCu-
pied by the firm Of Simpson & .tlaziptt,
on Market street. with lands III Brax-
ton county. Kansas. Missouri md
Washington City. Ills personal prop
erty consists Of stocks In various com
phnies and securities held by him, and
his interests In the i1rm OF Simpson K
HbEc, with some other less valuable
personal assets, such as furniture and
other things.
"At the time Of the assignment Of the
Royal Clay Manufacturing Company.
which afterwards went into the hands
Of n receiver. Mr.. Simpson was an ac-
"cbnhmodatlon endOfscr on the paper or
the company 10 the amount OF about
$4,000. II was supposed by persons
Interested 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-
celSer has caused unavoidable delay,
and the holders OF some OF the paper
on which Mr.. Simpson 3 endorser. have
been unwilling to await the closing up
OF the affairs OF the company. No
trouble was experienced with any or
the Wheeling banks, but one Of these
creditors recently Instituted suit
against Mr.. Simpson IN the Circuit
court Of this county, ard others threat
cncd TO do The like. Under these cir
c~umstanceB there seemed to be nc way
10 prevent one Of the creditors from
getting an advantage over the others,
except by the making OF n general as
signmeEt for the benefit OF all the cred.
ltOFS. In proportion to their debts. 1t
was especially undesirable that one OF
these creditors should get the advant-
age suggested. BECAUSE its claim was a
surety debt OF Mr.. simpsons. and It did
not seem right that such n debt should
be allowed 10 obtain a preference over
debts and personal liabilities which Mr..
Simpson owes to other persons. These
personal debts of Mr.. Simpson are but
trlflng compared With the value OF his
property. and could have been readily
handled had It NOT been for the unfor-
tunate endorsements,
"a conservative estimate OF the prop
erty conveyed by the assignment
makes Il probable that there will bc
sufficient TO satisfy all Of Mr.. Simp-
sons debts. Aiming other things, the
assignment conveys Mr.. simpsons In
tcresIs In the firm Of Simpson & iias-
lett. except that Il has. become ncras-
sRry TO dissolve this firm by reason Of
the assignment. Tho business OF the
irm will not be- at all affected or In
tcrfered with. The firm has been doing
4 prosperous business, and has kept
away from insurrihB liabilities OF any
kind. The assignee IN the deed or as
slRninent is Mr.. Howard Ha5lctt. the
business partner o. MIR. Simpson"
In conclusion, Mr.. Russell expressed
the deepest regret at The unfortunate
ENHANCEMENT In which Assignee Iiaz-
1T roncurrcd. and in which every resi-.
dent % Wheeling and vicinity will
heartily join.
The ASscts.
The deed as admitted 10 rrcorl IN