The sun., 1899-11-29
HARPERS REORGANlZlNG.
r,rr TRUsr COMPANY TEMPoRAR-
ILr ~ POSSESSION.

HY Nv POSSESSION
Bsrrer. Request the Step Through J. Pier
,out Morgan & Co., Who Say the Down
fail OF the House Would u" n National
Calamity Liabilities $4,000. 900 q. u.
NJ, Harvey, President OF Harper & Bros,
Made the Agent Of tn. Mortgage Trustee.
The state Trust Company. as trustee OF
Ar, mortgage given by tho great publishing
house Of Harper 4 Brothers. took possession
,..,cr,lay Of all the properly OF the concern
arp,in,sd as its agent Mr. George B VI Harvey
Who was recently elected President OF Harper
\ pr,ther4. aud for the present. at least. will
conduct IA. business. The step Ia preliminary
20 an entire reorgani zation OF the corporation
ard its business and the placing OF It on a solid
financial Lasis The public announcement wns
made By the state Trust Company when one OF
Il. representatives appeared Mt the Office o'
Harper / Brothers In prnrl street late In the
afternoon and nailed TN on the door halfway
M the stairway leading to tho publication
office the following notice:
Al. persons will pleasc take notice that the
state Trust Company. ~, trustee under tho
srst mortgage maic by Harper & Bros, to the
State Tru-t Company IA trustee. dated Nov.
IL. 1885. and duly recorded IT REGISTERS
rsses 32s.319. section on Noy. il iSSt
,s1 s' Of a1S rSe n-61on SHsT T '.tE&E% .aa y
Of nrttcl" OF said mortgage, has nntero into
an uIon all and every iart 0i the property
AMI premises. lands. righ's, interests ana
itsnchl.e-, conveyed or intended to be- CON
yryed hy said MORTGAGE. and each aud every
II. sr"S ,sr%dco. kmdwS =. IN arps %s%9 W,gG!
Hirg,ri. kou@d lG''s WI ,ha, I'M 'hs
late. and until further r"''ce, mother a." cor
to-at.nn ui llarpvr i Bros. nor its Ngrn's or
SERVANTS vii have ,r will cNcrcis" any, row"r
use. operate. uauag or ron'ro, sad murt-
gagged properly "r premises or t. conduct
fhT business thur.n'
The S'atr Trust Company has appointed Mr.
e. 'H VI. ilnryny 20 be- - aernt IN thr possrs-
sion, operation. .uHNaCnm"u' anil cnntro' NJ 'hn
,,lprnrcr'N. premises a. d hu,!nss-. and unuI
lv ortar u! tho stare Trust Cumparv.
Waller ;. JOHNSON. President,
Al The same time III" Trust COMPANY sent 20
ShanawsIar"rs sim lar notice and Hnrper 4
Brothers also made tho matter pubic. Tho
esw.parers were informed hy both tho Trus.
eomrany ard by Hl-rcr \ Brothers that the
sction on the art Of the Trust company was
,aSea ~ request oi the members OF the
Hlrrcr rorppra'ion.
The Mortgages m Ter which the Trust COM
Iaay took possess 1a wer' made twenty
Jay. after the "oa ,cru ceased TO he co.
That date WI, co.. -. lS- The cor.
toration was culi'n's,1 then at s2.OoO.uOO
IN John Wesley Haruer Wa made President.
N0r"vvas rr".lel ~ meet outs' standing obig
lions anil 20 deye up th" business ami was hor-
rovel oa mortgage Tn" state Trust Com
pany wa made trustee - IA" mortgages which.
together rroy l"i for tho lais ne Of $4,000 900
a great par o' this mcJ"y was lent by j. Pier
ton' Morgan &c, l. was not sufficient for the
rIrpose o. b. ACCOMPLISHED. The increased
ius ness was rr' - great "a had been eN Npected,
AMI the r,.g' la, been that in the past four
years other debts have accumu ated which
amount % s-.u'UvuO more.
When Col. George u. NJ. Harvey secured a
large interest In TIM CORPORATION ten days ago
an! was elected President no found The load ~
debt - heavy and the finances general IS In
such condition that radical measures were
Necessary. J. Picrpont Morgan 4 Coz II Is un-
der.'ool. were ready to alvauc" more money
70 the corporation and To- help It nut in any
way Bur II was thought 81 not to accept the
Offer The following CORES spontence with j
Ferront Morgan i Co.. which passed on Mon
day. WAS made public Yesterday By Harper 4
Brothers
Y,ryL j. T.. NorJIu d Co.. N',- Fork
DEAR slRS.,lt is du" 70 you. a. the principal
err .itors 81 llnrrer 4 Brothers. 10 know that
owing o n" iirarctHl strng"n"y an the fact
that the bulk Of our assets j. not nvni afle for
comrany may and probably viii De unable 10
meet u maturing Obligations. Moreover. our
n-w President. Mr. Harvey. insists that the
finances pi tn" com, any must lie read yustrd in
such way a % "nahl" him t. Civ" hI+ und.
vdad attention to IA" business and editorial
stutton We hav" not the moral right 10 incur
further obligations which We nigh not be
e'Ie % meet W. con -ld-r 1t our duty. th"re-
fore, IN lust,te TO both yourself and ours"iveS.
10 ndec'ire to avail curse yes Of your generous
oHer 10 increase th" amount of your 'oan. and
better ADAPTED in our ~ !gmeut to con serve the
ln,,sr"stN oi al our cr",!tor-.
ho' tecRUS" OF business necessity on your part.
but hernus" o' the personal friendship and
symra'hy you hh'" always shown for. and the
Harper 4 Er"'hcrs In the Ta-t. II is due you
that "" should, IA We do now. EXPRESS our keen
nnilr.c!atlon of: and sincere gratituH" for such
harrtly hhv" maintained It's position.
me Present asset; OF the company have
o. "yi,,inE liabilities. hut they are oi such
character n 10 h." wholly unavailable for i'm
mc.ia,G cash ,Gluir"mrn ,"r as "a basis FOR
Win cal dhl" single headed management.
which W" h"iI"v" We have now secured, the
N .cI"l amount IN 'Nr"sS oi that required 10
{hr N" interest not only upon your prior lien.
nnt a 81 rn.h H." unsecured claim, amount
lnc HIproNw"t"ly to S2UuUOO II is our
hEh.ng N'slTe 10 protect, II 0-S Slhe. the ho.l-
er- % tho" cnirS aud TO place them In a
I"-.lon which will assure ultimate payment in
\ rc rcnn2a'on NJ the company upon
TrfWhu'u NJ ana substantial hns would. We be-
new. nee. .mplsh thcs" purposes and would
90 surNr the IN errst- q! all creditors. prOvid-
lg n Ir0p"rty cO lId cOntInu" under the solo
erection o. Mr Harvey. who has ulrealy
e'" ted r"'orr VIII "h viii result In u saving
@ NOR" Than : SloDuuO per year.
W" 'h"l' orc t""ugntZ" that you should pro-
Geo. 20 'HN" al, necessary steps to protect your
{ cuW rlr"d hy tho collateral of our mort gage
h'Nl-, Nnl that tn" STATE Trust Company. as
th''"" unl"r the mortgage. upon your re-
q COST, Wnu'i l." entitled "a enter upon and
i'htr Possession Of th" mortgaged properly.
J. 'i' .h-' "" shn,l initiate proceedings Tor
ii' hi ipu'm"ui Ui tn trus'e" aS receiver OF
i,'""r'url'on. andOf Nr Harvey rs agent frr
,H' '.''."'r lOplGg that reOrgan iZat ion may
'r"'"''wl, VIII IA -lH promote IrimAr,'y the
interests ri our creditors. AMI VIII Oh. W" hope.
..'-" r"~"rvo the honor and dignity Of the
t..''"nl i.aru"r \ BROTHERS, and enable II to
th'.E nlun fresh career Of usefulness
a. ~ ". "" are, with great respect
your oh"dl"nt servants,
IoHN W. HARPER.
) HENRY HARPER.
JAMES THoENE HARPER.
llr,EI >, HARPER,
II H. IlNuPER.
Nrw YORK. Nov. -
NJ Or. !. tu U Y,ri,rsf1,.