Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1897-04-30
WRECKED MILLS.
New Bedford'S Sensation and
Disaster.
One Man Dead and One Missing
Conservatives Not Surprised.

! NEW BEDFORD, Mass, April 27-The
| past few days have been the most eyentful
in New Bedford's history. First the two
/ big mills the Columbia and the Bennett.
supposed to be stable institutions, were
/ found to have paper out well up in the mill
/ lions unknown to directors and stockhOld-
ers. Treasurer Frank II. Hadley. who had
not embezzled the money, but had lost it in
/ the legitimate business of the mills-had
/ falsiiied the returns to the examiners. He
was i'll at his magnificent home and just as
he was TO be arrested for perjury death in
tervened and he was brought before u
higher court than earth affords. His death
was caused by kidney trouble. aggravated
of course by his business troubles.
The directors in the Bennett mill are
/ Frank i. Hadley, ii. A. Holcomb, W. T..
Brownell, stephen W.Hayes, William Lewis.
John J. Hicks, A. /. Sylvia and Lewis +.
/ Bentley. The directors in the Columbia
mill ara Frank Il. Hadley A. l.. Sylvia,
stephen W. Hayes, Henry A. Holcomb, Lewis
+. Bentley, Joseph s. Lewis, and William
! f. Brownell.
! Mr.. Hadley had dipped into other enter
/ prlses. He bought into banks and insurance
companies, and was a heavy buyer of real
estate. He was leading spirit in the for
nation OF the Lambeth rope company and
the City coal company. He built house on
County street last year which cost S75, 900.
1t was the finest house in the city. He drove
expensive horses and branched out in every
| way. he was pointed out as a self-made
man, man who had accomplished in "a
half dozen years what other mill treasurers
could not succeed in doing in lifetime.
Everybody marveled at his success,
but nobody doubted it. Still there
was class of conservative specula-
tors who never invested in any
OF the enterprises with which he was con-
nected. The crash came, and it was shown
that Hadley had falsifled returns to the
state and that the Indebtedness on the two
mills was S2,500,0 Mr.. Hadley went
home sick. and the investigation was fol-
lowed by arrest. "he end was tragic, ,as two
officers were in the room adjoining when
Hadley died.
Following fresh upon the disaster to the
Columbia and Bennett mills. eliminating in
sensation in the tragic death OF Treasurer
Hadley came the announcement of the en-
| barrassment of the Rowland, Rotch and
New Bedford company mills. The excite
ment upon the street has been intense. The
three mills are practically under one man
agement. Morgan Rotch is president of
them all, and William D. Howland treas
urer.
The group of mills is the result of the en-
terprise of Mr.. Rowland, the treasurer. In
1882 he was employed in the office of the
Wamsutta mills. He became interested in
the manufacture of cotton yarns, and sever
ing his connections with that corporation,
he travelled for several months, making
careful study of the specially. On his re-
turn to this country he succeeded in inter-
esting number of gentlemen, and
| in March, 1888, the New Bedford manu-
featuring company was organized, with
| capital stock of Sl25, 900. In MAY the
construction of a 1000 spindle mill was be-
gun in the south side of Hillman street, east
OF Second. The total number of spindles
in the mill is now 1000. In 1888 the How
land mill was built in the southwest part of
the city. Its capital stock is now million.
and the number of Spindles is 1000. The
corporation has built 40 or more handsome
| cottages for the help here, the style and
convenience of which has attracted consid-
cradle fame throughout the country
| The Rotch spinning company was in
corporated in 1892 with $4,000 capital
The number of spindles is 10000 1t man
utactures hosiery yarns: The three mills
employ 1900 or more hands. Mr.. Howland
has an elegant home near Hawthorn street,
and summer estate on the point road. He
had new yacht designed by Fife last year
He has been exceedingly popular with the
employees of the mills.
Mr.. Rowland disappeared on Saturday
with probable intentions of suicide. His
nerve doubtless failed him, as he las been
heard from in several places. Mr.. Rowland
is A years old and we'll educated Up to
the present writing his body neither dead
nor alive has been found.