New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-04-14
THE DOLGEVlLLE FAILURE.
INTERESTING CAREER OF THE MAN WHO
FOUNDED THE INDUSTRIAL TOWN.
ACTUAL VALUE or THE ASSETS NOT YET DETER
MfNED-cAUsEs or BUSINESS SUSPENSION
A BELIEF THAT THE FACTORIES MAY
CONTINUE WORK - THE PRO
FIT SHAKING SYSTEM

FIT SHAKING SYSTEM.
Utica April 10 (sreciaD.-The failure OF Alirea
Dodge E. Son. NJ Dolgcville has parayzed business
In that village. which until Monday was one
I . the thriving manufacturing towns III 'le
State The one object In the life or the prihc'PA
IN this financial disaster was tho making and
bui;dinc ND Of the town which bears his name
'rh. applicaton for the receivershp and the DIS
solution OF the firm made by Rudolph Doige
Mr.. Dolgc's son. and the complaint was VERNE" "
Edmund X. Wanke. OF New-York the hrm 5 pooh-
keeper Nelson a. Robinson. lawyer. of No 80 LID
ortv.s, New-york made tho application TO Justice
Uiscock The moving papers give the nominal value
Of tho assets as 81 1900 but their actual value
cal not yet be determined There are OUTSTANDING
debts Of $4,000 and discounted notes OF sS"""
the latter falling due this month ana next J"
addition the firm Is indorser notes agGregating
10000 and notes amounting to Sl5,Vn nave areauS
gone to protest. The plaintiff says the hrrn can
not realize on lis accounts. and that maturing
obligations cannot be renewed at the banks on ac-
count Of the unsettled business conditions. ne
cclvcr A. NJ Mills and Walter n. Herman have He'd
their bonds and entered upon the discharge or
their duties yesterday.
BUSINESS AT \ STANDSTlI'L.
Business in tho Dodge felt mill is now at stand
still The fact that the firm has numerous orders
Mt hand will is hoped. soon start the mills ana
II IS thought the failure will not result In the
decentralization OF the factories. Tho result OF Mr.
Dolge's failure my prove n serious blow to the
piano trade In general he IS heavy indorscr
on tho paper OK several firms The inability TO
causes Of tho failure All the manufacturing indus
tries Of Doecvc are identified with D9se a. S oPa
but IT Is hoped thar complications VIII not also
make necessary the closing down OF other large
4 mortgage FOR 10000 given by Alfred DOLCE
and wife George A. Hardin. az trustee. has been
hlcd given to secure the payment OF three
change National Bank OF New, York. Gustav FREY.
National Bank
AN INTERESTING CAREER.
The career OF Alfred Dodge is one full OF interest
and he still retains the respect OF his workmen. In
whose material interests he has been deeply Inter
es'ed Mr. Dodge settled in the town. then called
Brocketts Bridge. in 1873. Large Adirondack tan
merry plants were located there. which finally came
into Mr. Dogc's possession He recognized tho
value OF the natural water facilities. ana ne iir5t
began the manufacture OF piano sounding boards
and fclt for plano hammers. lie prosp"fcd ana ms
products became standard in the plano trade Then
the Manufacture OF felt shoes was begun. ana a
few years aPo the Daniel Greene Shoe Company
organized Then Mr. Dodge purchased the {.
+. Zimmerman Autoharp Company Of Philadel-
and capitalized At $4,000 Through Mr. Dolgc's
Influence other manufactures were located IN
until now $50 persons are dependent the Dodge
Interests for livelihood
HIS Use OF ELECTRIC POWER
Mr. Dodge was ono ot the pioneers In tn" u,llz-
INK - electric power FOR manufacturing Industries
and tho second Edison dynamo purchased 10y
him Tho water power vas transferred into electric
energy 20 run his mills. and then h" began plans
for the construction Of n power development on a
larger scale. Hc purchased 1900 acres OF virgin
Adirondack forests. IN which located several
lnkes Then the Dogevue Electric Light and
Power Company VAS formed. ard the line OK
tended 20 Little Fails The plnnt Is capable ot
producing TOO horse power. and experts say thai
II can Doc Increased 1900 horse power This cleo
irc power VI Dolg" designed To furnish the towns
throushDIi -" Mohawk Valley
THE PRoFIT-sHARrNG SYSTEM
M Dolc" had .iR sicccssfui operation IN his FAC
tor,ca system = earning sharing. providing FOR
Insurance. endowment and pension After five
years service operative Is Insured FOR 81 odO in
an oll-.ln' Insurance company. Mr.. Dolgo paying
tho premium. A. ihc end OF Ave years the opera
tive &. entitled to another s. 90 policy and on.
Tho Insurance policies held by Mr Dolgc's work
men now aggregate $4,000. and each year Mr.
Dodge has paid Tho premiums. The endowment, nc
count not 20 b. paid until the operative le sixty
years old. By the pension plan an operative dis
abled by accident (, retired pension Of half
pay on the pension roll paid by the irm are six
o seven men and his will form n question
for the courts 20 decide
The Greene Shoe Company and the Zimmerman
Autoharp Company have not yet been affected by
holder iu cnrh. Until tho scare the Dodge
factories wer" running night and day. and two
sets oi operatives were necessary 20 keep pace
with the orders.