The herald., 1898-01-12
I'm HARD LUCK
Which Finally Results in
Bankruptcy
THE ANCHOR LINE ASSIGNS
CRIPPLED BY FIRE AND SHARP
COMPETITION
THE ANCHOR LINE ASSIGNS
The Port of Chalmette, Below New
Orleans, Taken in Charge by
Receiver
Associated Press Special Wire


ST. LOUIS, Jan. 1.-THE St Louis ana
New orleans Anchor line made an as
signment at noon today to Archibald
Woods. conveying to him for the peneht
of creditors all of the steamboats,
barges. stock in store. elevators iano-
ings and other property of the company
of everv kind. An assignment OF all the
nronerty was decided upon at meet
;re of the board of directors January H.
:, resolution to that effect having peen
nossed and signed by George 3 Edse'i'
nresident: Gustave c. MISSIONER vice
president and general manager anu
n,,,.odore C. weigler. secretary.
An affidavit signed by Vice President
Neissonier accompanied the assign
,art and he makes the statement tnat
tho assets are worth $96.60o. NO s'a.e-
went as to the amount of liaoiilties WAS
made. tho
Tho Anchor line was organized 'he
,,aar after the war ended, and II was one
of the first combinations started IN tue
,ost prior to that time there were
short steamboat lines running between
e. Ionis and Cairo, Cairo and Memphis,
,Tar,nhis and Vicksburg, Vicksburg ana
Natchez, and Natchez anu ne"
leans. These short lines were aii 'an.''
into the Anchor Line company Inc
small boats unsuitable for the tra"e
were condemned, laid up or solo, anu
new boats were built. TWO lines were
started---one between st. LOUIS anu
Memphis and the other between 81
Louis and New orleans. AT the various
towns along the Mississippi river freight
elevators were built, and the controlling
interest in these elevators was held by
tho Anchor line or people interested
IN it,
Between 1864 and 1880 the Anchor line
practically controlled the trafhc on the
waterway between st. Louis ana Mem
phis and New orleans. About 1851 the
Mississippi Valley Transportation COM
pany was organized. This line, with its
powerful stern wheel towboats ana its
grain barges, cut into the Anchor line
business. The barges and towpoats
could be operated cheaper than the An
chor lines floating palaces. Railroads
were built on each side of the Misslssip-
pl, ana Ine pdSScH6ct 'io'S' "~--s -
the boats to the railroads.
Secretary Forbes Zeigler said TO-DAY
The vast amount of liabilities mas MOI
been determined, but there Is no doub'
the assets will cover them fully. Hare
luck has pursued us for two years. DIS
aster followed disaster until we were
temporarily forced to the wall. Wher
the present Anchor line company was
organ there We're seven boats, tht
finest on the river, with an average val
uation of $50. 900. There are only three
boats left now. The best vessels of oul
fleet have been lost or burned"
ANOTHER RECEIVER
NEW ORLEANS, La. Jan. 11.--Th'
big port of Chalmette, below this city
with it's hundreds of thousands of dol
lars invested in cotton congresses
wharves, etc, has gone into the hands
of a receiver on account of it's inabilit.
to meet 800 900 interest on bonds du
July l. 1897, and January l. 1898.
The port of Chalmette was establishes
as an opposition to the port of New Or
leans. More than 50, 100000 was invested
there and every facility afforded for tn
handling of cotton as against the com
presses of New Orleans.
Chalmette is owned by the New Or
leans and Western railroad company
and against this company suit wa
brought today by the State Trust com
pany of New York. praying for re
ceiver on the above grounds. 1t is al
legged that the company is still doing a.
immense business and has valuable con
tracts on it's hands. An order was Is