The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1897-01-06
PROSPERITY INDEED.
ANOTHER BIG CHICAGO CONCERN
GOES UP.

Three Banks Fsii.. Good Example Of the
Prosperity the Country is Experiencing--'
Millions Involved In Failures.
Chicago, Dec. 30.-As a result OF
the voluntary liquidatiops OF the At
las National bank Of this city, Will
liam M. and John S. Van Nortwlck,
who held asa shares of stock in that
hank and were borrowers therefrom
to the amount of $300,000, made an
assignment yesterday to the Equitable
Trust company of Chicsgo, who took
possession of the Van Nortwicks bank
at Batavia yesterday.
The failure involves the entire IN
terests of the Van Nortwick's, whose
estimated wealth, according to their
last statement, is 80, 500 600, often es.
timated at three times that amount
and representing, besides the Van
Nortwick bank and other property at
Batavia, large manufacturing inter
ests. The total liabilities will proba-
bly, be near $4,000, 900. The articles
of assignment, three in number, were
filed in the Kane county court at Ge'
neva at 4 o'clock yesterday afternoon.
w. NJ. and J. S. Van Nortwick each
assigning as individuals and the two
as company.
The interests of the Van Nortwicks
are large and diversified. They own
the western paper bag factory at Bata-
via, employing several hundred hands
with daily output Off 900, 600 Large
factories at Kaukana, Wis, for the
manufacture of manila paper, and at
Memphis, Tenn, for the making of
paper wooden ware, are branches
of the Western Paper Bag company
and are conducted under the same
management. The Van Nortwick Pa,
per company owns mills at Combined
Locks, near Appleton, Wis, which
cost $500, 900; also the Appleton Man
ufacturing company at Van Nortwick,
Ills, with capital stock of 5000, 600,
with turns out wind mills and agri-
cultural implements.
In Batavia so much real estate is
owned by them that people are often
heard to remark: ''The Van Mort
wicks own Batavia" Besides the
brick block in which the bank is loca.
ted, erected at cost OF $40, 900, and
other real estate, they own 400 acres
of farm land there valued at $50, 600.
Among their possessions are also
thousands of acres of pine lands in
Wisconsin. They are stockholders In
the old Second National bank and the
Aurora cotton mill company at Auro-
ra, and banks at Appleton and Kau.
kama, Wis.
The Van Nortwicks probably are
the most extensive paper manufactu.
rers in the west and the ramifcations
of their business extend all over the
western country. Had it not been for
the spreading out in this direction, it
is thought the crash of yesterday
would have been avoided. The Apple
ion Paper and Pulp company and the
Kaukana Paper company, under
which names all of the Van Nortwick
paper interests in the river valley are
consolidated, constituted one of the
strongest paper combinations ever
formed. The combination included
the Appleton Paper and Pulp COM
pany, Kaukana Paper company. Com
bined Lock Paper company, Wiscon-
sin Sulphite Fiber company and I'm.
ion Pulp company. These companies
are combined under one management
for the manufacture of book, print,
manila and express paper, sulphite
and wood pulp and do an immense
business in these specials. The main
Office of the companies is the Apple.
ton. The Appleton Paper and Pulp
company was incorporated in 1873
and has capital Of $3.50, 900. The
buildings burned a few years ago,
were never rebuilt.
The Kaukana Paper company plant
is located at Kaukana, Wis, seven
miles from Appleton, on the Chicago
and Northwestern railroad. This com
pany was Incorporated in 1879, and
has an authorized capital of 800, 900.
Seventy-fve workmen are employed
and the output is ten tons of manila
paper daily.
The Combined Lock Paper compa-
ny was incorporated in 1890 with a
capital of $50, 600 and the mills have
an output of 80 tons of pulp daily and
40 tons of paper. This company makes
printing paper exclusively.
The Wisconsin Sulphite Fiber com
pany owns valuable woodland and
supplies wood for making pulp to the
mills named in the foregoing.
The Union Pulp company has mills
at Kaukana. 1t was incorporated in
1879 with $50, 900 capital. The capacity
of these mills is 26 tons of pulp each
working day.
ROANOKE BANK SUSPENDS.
RICHMOND, Va, Dec. ga Roa
poke special to The Dispatch says
The commercial National bank of thi:
city, closed its doors this morning be-
cause of run on that institution yes
terday. This run it is believed was
caused by. the resignation of Cashier
Davenport and his departure for Wes
Virginia on Sunday. The, resigna
ton was rendered on the 18th, but die
not go into effect until the goth ane
for some reason the matter was kept
from the general public for a week OF
more.
Mr.. Davenport had been in the EN-
ploy of the bank for some years, anC
his books on settlement were correc
in every particular. When it was
known that he had resigned, the peo
, pie became uneasy and the run fol
lowed. The total liabilities of thu