Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1896-12-30
BY BANK FAILURES.
The Most Extensive Western Payer
Makes Go to the Wall.


Chicago, Dec. 29.-As result of thu
voluntary liquidation of the Atlas Ma
tional Bank of this city, VIM. NJ ant
John s. Van Nortwick. who held AZ
| borrowers therefrom to the amount o
$500 900. have made an assignment to thu
Equitable Trust Co. of Chicago. wht
took possession of the Van NortWieks
bank at Batavia, yesterday. The failure
| involves the entire interests of the Var
Nortwicks, whose estimated wealth. ac'
cortling to their last statement, is $500.
0U0 often estimated at three times that
amount, and representing besides the
Van Nortwick bank and other property
AT Batavia, large manufacturing int,
ests. The total liabilities will probably
be ~, 600 go.
The articles of assignment. three in
number, were filed in the Kane county
court at Geneva. at 4 o'clock, yesterday
afternoon. William NJ and j. S. Van
Nortwick each assigning as individual Is
and the two as a company. The Van
Nortwicks own the Western Paper Bag
factory at Batavia employing severa!
2.00o,0oo bags. Large factories at Kan
kauna, Wis. for the manufacture of
manila paper and at Memphis Tenn.
for the making of paper wooden ware"
Co. and are conducted under the same
management. The Van Nortwick Paper
co. owns mills at Combined Locks, near
Appleton, Wis. which cost $500 900. also
the Appleton Manufacturing Co. at Van
Nortwick. Ill.,. with a capital stock of
$2u0. 600. which turns out wind mills and
agricultural implements.
In Batavia. besides the brick block in
which the bank is located erected at Il
cost of $4,000, and other real estate the
Van Nortwicks own 400 acres OF farm
land there. valued at S50,000. Among their
possessions also are thousands o1 acres
of pine lands in Wisconsin. They are
stockholders in the old Second National
Bank and the Aurora Cotton Mill Co. ut
H.
kauna They are probably the most ex-
tensive paper manufacturers in the West
and the ramiiications of their business
extend all over the Western country.
Had it not been for the spreading out
in this direction. il is thought, tn" crash
OF yesterday would have been avoided.
The Appleton Paper and Pulp Co. ana
the Kankauna Paper Co., uDder which
terestS IN the Fox river valley are con
solidated. constituted one OF the strong
est paper combinations ever formed. Tire
combination included the Appleton idpct
and Pulp CO.. kaukauna Paper Co. com
bined Lock Paper Co.. Wisconsin Su.-
phite Fibre Co. and Union Pulp Co. Thes,
companies are combined under one mon
agement for the manufacture Of book
print. MANILA and express paper, sulphit,
and wood pulp and do an imricnse buAi.
ness in these special lines. The main
Office OF the companies is iii Appleton.
The Appleton Pulp ani Taper co. was
incorporated in 1873 and has a capital oi
sl5o.ooo. The Kaukapna Paper Co plant
is located a, Kaukauna, Wis. sever
incorporated in 1870 and has an author
lied capital Of 500, 600 The output is j
tons of manila paper daily. The Com
bined Locks Paper Co. Wa. in"ol pol 4 I e
in 1880. with a capital of $500 and the
mills have an output of 30 tons OF pull
daily and 40 tons OF paper. This compan,
makes printing paper exclusively. The
Union Pulp co. has mills AT kaukauut
i,,AN tod I'm, Nj
capital. The capacity of these mills is ;
tons of pulp each working day.