The San Francisco call., 1898-01-12
RUINED BY
 HARD LUCK Failure of the Old Anchor Line pf Mississippi
 Steam CTS.
Competition and a Series of Disasters Cause the
 Collapse.
Of the Finest Fleet of Floatinu Palaces on the River Only Three Boats
 Remain.
Special Dispatch to The Call.

ST. LOUIS, Jan. 1.-The St Louis and New Orleans Anchor line made an assignment at noon to-day to Archi- bald Woods, conveying to him, for the benefit of creditors, all of the steam boats, barges, stock in store, elevator landings and other property of the company of every kind. An assignment of all the property was decided on at a meeting of the board of directors held yesterday. a resolution to that ef- feet having been passed and signed by George s. Edgell president; Gustave C. Messonier, vice president and gen eral manager, and Theodore C. Weig- Ter, secretary.
 An affidavit signed by Vice Presi- dent Meissonier accompanied the as signment and he makes the statement that the assets are worth $96 500. No statement as to the amount of liabili- ties was made. There was an attack made upon the credit of the line last week, when the Tennessee River Pack ct Company filed an attachment suit for $3S00 and had the Sheriff levy on all the property in the Anchor line store on the leVee. This suit was brought on a claim for rent for two of the TenneS- see River boats leased to the Anchor line. The bill was settled and the goods released by the Sheriff just be- fore 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 lines running between St. Louis and Cairo. Cairo and Mem phis, Memphis and Vicksburg, Vicks- burg and Natchez and Natchez and Gh all taken into the Anchor Line Com pany. 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 be- tween St Louis and New Orleans. At the various towns along the Mississippi 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 traffic on the waterway between St. Louis and Mem phis and New Orleans. About 1880 the Mississippi Valley Transportation Com pany of St. Louis was organized. This line, with it's powerful stern-wheel tow boats and it's grain barges, cut into the Anchor Lines business. The barges and towboats could be operated cheap CT than the Anchor Lines floating pal aces. Railroads were built on each side of the Mississippi and the passenger l travel went from the boats to the rail- roads.
 Secretary Forbes Zeigler said to-day: ''The vast amount of 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 Com pany was organized there were seven boats. the finest on the river with an average valuation of $50,000. There are only three boats left now. The best of our fleet have been lost or burned"