The Providence news. (Providence [R.I.]) 1891-1906, 1903-07-23
Contracts AggrsgatIng $4,000,
600 Involved In Their Trouble.
LIABILITIES MAY Be $500, 600
Manchester & Hudson Of This City and
Several Worcester Firms United In
Asking for Step.

Boston, July 2s.-Contracts to the
amount OF 100000 are involved in the
embarrassment OF the Norcross Brothers
company, the extensive contractors and
builders. for whom receivers were ap-
pointed by Judge Brown in the United
States circuit court here yesterday after
noon. The failure was not generally an
ticipated by the real estate world. 1t Is
estimated that the corporation has net
liabilities in excess OF 100000.
The receivers appointed by Judge
Brown are william ID. Lucy. president OF
the First National bank OF Worcester,
and Frank r. Smith, a Worcester lawyer.
They are authorized and directed TO carry
on the business and are 10 furnish a bond
OF 10000. They were appointed in a suit
brought by Walter S. Manchester and
James s. Hudson (Manchester q Hudson)
OF Providence and Wells q Newton com
pany OF New York, two small creditors.
who together with several Worcester
banks. also creditors OF the defendant
concern, consented TO the appointments.
The bill alleged that the concern was
unable TO meet its obligations as they
mature.
The defendant concern is a Massachu-
setts corporation and has several plants
at Worcester and elsewhere throughout
OF the largest building operations in this
city and elsewhere.
.' LABOR TROUBLES THE CAUSE.
1t is stated unofficially that labor trou-
bles and tight money were responsible
for the concerns embarrassment
The Norcross Brothers company OF
Worcester. Mass, was incorporated Jan.
!, 1902. IL consists OF Otis w Norcross
. president; Albert j. Park, treasurer. and
T~A-o
u, coo, in 100 shares at $4,000 a share.
IL has hrownstone and granite quarries
at East Longmeadow and BraggVille
Mass and Stony Brook, Conn, and con-
trolls several allied concerns, which may
not be seriously affected. The firm has
offices in Massachusetts. Rhode Island.
Connecticut and New York.
Norcross Brothers employed thousands
of men and carried contracts with steel
mills which enabled them 10 do busine ss
on an enormous scale. The firm had
many government building contracts and
had constructed custom houses and post
offices all over the country
Among the Boston buildings erected by
1.-The firm are the following: South Ter
rninal Station. Exchange building Ames
building, Colonial theatre, Trinity churcn
fremont building and the Journal build
ing.
PAY DOLLAR FOR DOLLAR.
Worcester. Mass. July 23-"we hope to
pay dollar for dollar in time" said o. w
Norcross last night The finishing IN
OF large number OF contracts in which
there Is retained percentage. together
with the delays caused by strikes and
other labor troubles and the stringency of
the money market. all operated 20 br.ng
about these conditions.
THE assets are at least more than three
to one, and the company will be able to
pay dollar for dollar in time"
At the office OF Manchester e. Hudson
at & Point street, the statement has been
made that the action against the builders
was taken at the request and for the c.
commodation OF Norcross Brothers com
pany. 10 forestall possibly hostile credl-
tors. II Is stated the difficulty and that
the building trades strike In New York
acity IL largely responsible. About s25. 900
worth of marble Is said TO be tide up I'm
that city alone and number OF large
Jobs are partly finished on which paw
ments will be made from time to time as
the work progresses. Because OF the
stopped and 10 this cause the present
difficulty is attributed
: The firm built and is finishing up the
state house and has under construction
Rockefeller building and John Carter
Brown library building at Brown uni
versity, the Providence Journal building
the Mason building to be used by the
O'Gorman company. and the new Brown
[, a. Sharpe flask shed and is completing
! work at the state house.