The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-12
ANCHOR LINE In TROUBLE.
A st. Louis and New Orleans Steam
boat Company Assigns.

ST. LOUIS, Jan. 1.-THE st. Louis and
New Orleans Anchor line made an assign
ment to-day at noon to Archibald
Woods, conveying to him for the benefit
of creditors of all Of the steAmboats, barges,
stock in store elevators and other property
of the company of every kind. The deed
states that assignment of all the property
was decided on at meeting of the board
of directors of the company held jan 10,
a resolution to that effect having been
passed and signed by George S. Edgel.
president; Gustav C. Meissoner, vice presi-
dent, and General Manager Theodore c.
Weigle. An affidavit signed by Vice Presi-
dent Meissonier accompanied the assign
ment, and in it he makes the statement
that the assets of the Anchor line are worth
S9s, 600. No statement as to the amount Of
liabilities was made. There was an attack
made on the credit of the line last week
when the Tennessee River Packet Company
filed an attachment suit for 800 and had
the sheriff levy on all the property in the
Anchor line store on the levee. The suit was
brought a claim for rental of two of the
Tennessee river boats leased to the Anchor
line. The bill was settled and the goods re-
leased by the sheriff just before the time
for the directors meeting last night
The Anchor line was organized the year
after the war, and it was one of the first
combinations started in the West Prior
to that time there were short steamboat
IDeS running between 0I. LOUIS dIQ OdiIOs
Cairo and Memphis, Memphis and Vicks-
burg, Vicksburg and Natchez and Natchez
and New Orleans These short lines were
all taken into the Anchor-line Company.
The small boats unsuitable for the trade
were condemned, laid up or sold, and new
boats were built. Two lines were started
one between st. Louis and Memphis and
the other between ST. Louis and New Or
leans. At the various towns along the Mis-
sissippi river freight elevators were built,
and the controlling interest in these eleva-
tors was held by the Anchor line or people
interested in it. Between 1866 and 1880 the
Anchor line practically controlled the traf-
fic on the waterway between st.
Louis and Memphis and New Orleans.
About 1880 the Mississippi Valley Transpor-
tation Company of ST. Louis, was organ
lied This line, with its powerful stern
wheel tow boats and it's grain barges cut
into the Anchor line business. The barges
and tow boats could be operated cheaper
than the Anchor line floating palaces. Rail :
roads were built on each side of the Mis-
Sissippi and the passenger travel went from
the boats to the railroads.
Secretary George S. Ziegler said this aft
ernoon: THE exact amount of the COM
pany's liabilities has not been determined
but there is no doubt the assets will cover
them fully. Hard luck has pursued US for
two years. Disaster followed disaster until
we were temporarily forced to the wall
When the present Anchor Line Company
was organized there were seven boats, the
finest on the river, with an average valua-
tion of $4,000 each. There are only three
boats left now. The best of our fleet have
been lost or burned"