The Providence news. (Providence [R.I.]) 1891-1906, 1897-04-24

| the southwest part Of the city. Its capital
! stock Is now million. and the number
! OF spindles is II, 600. The corporation has
! built 40 or more handsome cottages for
! the help here, the style and convenience
| oi which have attracted considerable fame
/ throughout the country
The Rotch Spinning Company was in
coTporatcd in 1892 with SJO0O00 capital
The number of spindles is A., 600. 1t
manufactures hosiery yarns. The three
mills employ 1900 or more hands MIR
Howland has an elegant home near Haw-
thorn 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.
At noon today William ID. Rowland
was missing. His family did not know
whore he was. A search is being made
TO locate him, but the trail ended at
about III O'Clock yesterday morning, since
which time nobody has seen him.
lie Was In Tears.
Byron F. Card, agent of the Rowland
corporations, when seen by a reporter
this morning, said that no could not say
anything concerning the financial affairs
OF the concerns, for the reason that he
had heen only the selling agent and that
the finances were out of his line.
Mr. Card plainly showed the terrible
=
tears when he was interviewed.
where Is the treasurery' was the first
question he asked.
Il had some big orders come I'm yester-
day and tclcphoned down TO Mr.. How
land AT the same time / told MIR How
land that wanted to take Mrs. Card to
the horse show. Better 40, he said. 1t
Will do you'good and be a little relief for
you. came down town dressed up,
heard this thing and remained at home
It's pretty tough. Every dollar 1 have i'm
tho world Is tied up here My courage is
good and am not the man To give up.
There Is plenty of sympathy. but SYM
pathy does not pay bills. OF course,
cannot tell you anything about the situa.
tion. L sell the goods and do not have |
anything To do with the financial con
dition of things F"
Bank Not Embarrassed.
National Bank of Commerce, which insti- !
tuition Is rumored to be heavily Interested |
in the paper of Rowland corporations |
stated to reporter this morning that /
the bank had good deal of the |
paper of all three corporations. il was not. |
IN the aggregate, enough To enbarrass the
bank FOR moment. He proposed TO pay
100 cents on the dollar us heretofore.
AT noon man prominent In financial |
circles stated Sthat as far as he could size |
mp the situation, there was about SiO0 900
more Indebtedness i'm each corporation
than had been expected, az its worst, this
would not indicate that the Stockholders
could lose over 25 to 10 per cent OF their
even If pressed 60 the extreme.
Writs Served.
a prominent official of the corporation
stated that he looked for q good deal of
nope IN the increase of land assets, an
AMOUNT known to be in excess Of what
no returns showed. Ho said shat tho
iowland village land assesses at $23O. OOO
ma was carried OH the corporation
books ut only $50, OOO III this were alto
yether true it would be n godSend
A quantity OF cotton at the Rowland
nils belonging TO Richmond and Tiffany
N az loast Still unpaid for was reDlcv- |
Lcd. Another writ was served I'M the
interests OF Herman, Capelle IL Co. on
~ baiCs OF Egyptian cotton recently
cceivod by steamer Manuka from Alex.
ndria.
I..is morning Edward Kilburn, who
as bccn specially engaged for the pur-
ose, began Co make careful and exrcrt |
ppraisul of tho assets Of the mills, The
innG machinery, stock i'm process of !
lanufacturc, etc. The matter having
rogressed to this stage, IL H. deemed best
o probe the matter TO the bottom, and
OF to rest until the true facts have beon
isclcsed.
No Great Surprise at Fall River.
Fall River, Mass, April "a The fresh
tsclosurcs relative 10 the condition Of
no New Bedford mills did not cause go
luch OF y sensation in this city rs mirht
ave been expected. Just such a thing
nd been looked for It will To rucoi.
ctcd that when other New England
ictorics found 10 wise 20 curfail uruduc- ,
on the Now Bedford corporations were
IN 90 join movement of that sort. ,
ttlng it be understood that they wore /,
lshed with orders for their product. IL , !
o. known very positively in this city ! 1
lnt tGc only way IN which New I}edffrl | ,
Ills were able To sell thuir goods wrs :
y cutting under the market. 6onns
ave bccn sold at a positive loss Of late in ! .
ild endcayo.s to secure money 10 coyur
'pidly maturing Obligations Tie final
ltconc Oi such businoss pUliry wgs !
early rpparcnt To competitions in this
~ ard TINT L. why the Disclosures ~ n
~ PAST week have not turned this town %
y ~ tUrvcy Today local manufacturer \,
q talking about the effect of the New h
edford affairs and they agree that the n
itcorne Will be beneficial to the cloth | 4
dustry. which can now get down to n y
und basis 30 far as can b learned. | L