The Irish standard., 1907-11-16
ASK RECEIVER FOR
y. I arizona SMELTER
APPLICANT ALLEGES AFFAIRS OF
s17,ooo.ooo CONCERN ARE I'M
=. CHAOTIC CONDITION.
INSOLVENCY. CHARGE
: is STRONGLY DENIED
General. Financial. Conditions Show
Big ;lmproyement-TotaI Gold En-.
saaements Now Amount to $52,-
:. $50, o,ooo..: ~:

Trenton, N. j., Nov. 12.-Applica.
ton was made to Judge Lanning In
the United States district court Mon
day for the appointment Of re-,
ceiver for. the Consolidated Arizona
Smelling company and the Arizona
Smelling company. The application
was made upon; behalf of Frank l..
Crocker of. New. York, who alleges
that the affairs of the company are in
a chaotic state due to attachments in
Arizona and he charges insolvency.
- j., Application: Is Opposed. =.
Counsel for the company opposes
the application and denies insolvency.
Counsel claims that the companies
owe but $4,000 and that the assets
are upward of $3,00o,0OO. "A claim
against the company by Wallace G
Co. for about 100000 is not being
pressed. Counsel for Crocker claims
this is because Charles w. Morse
agreed to take care of the claim. .
- Judge. Lanning took the application
under :advisement. -:
'@s:.% Involves $17,0oo,ooo.
The capitalization involved in these
companies is $17,O00,00O.
Cheerful Tone In New York. :.
New York, Nov. 12.-The week OPEN
ed with a cheerful tone In the finan-
cial district. The two trust compan-
les against which there had been Sc
we're runs were transacting business
on normal bisis, receiving deposits
and paying out money on checks as
though nothing had ever happened
out of the ordinary. The flow of gold
from Europe to the United States
continues. The first engagements Of
the metal for import announced to-day
were by the: Mercantile Trust COM
pany OF st: Louis for 100000 and by
the Illinois Trust and Savings bank of
Chicago for 100000 Later Heidel-
back, 1cke1heimer & Co. announced
the engagement of 100000. The st.
Louis engagement Is said to be the
first instance in which a financial in
stitution in that city has taken gold
direct from London. The total gold
engaged since the beginning of the
financial stringency is thus brought
up to $52,330,0o0:. -
The United States secured practi.
cally all of the $3,000,000 gold offered
In the London market Monday. There
was little competition for to-day's Of
ferings and the American bankers Sc
cured the precious metal at price
Of Nd per pound sterling cheaper than
the price Of last week.
Haul $3,00o,ooo Through Streets.
Chicago. Nov. 12.-Three million
dollars in gold was carried through
the streets of Chicago Monday in
four express wagons, attracting much
more attention than would ordinarily
be displayed at the sight of the 50 po.
licemen who guarded the money
marching down the street. =, The gold
was transferred from the Chicago sub.
treasury to- the First National bank.
1t constitutes the largest single draft
for gold ever made upon the sub.
treasury, according to Cashier Rus.
sell, although larger sums Of gold
have been transported through the
streets at various times when a bank
moved from one building to another.
Big Lumber Mill Closes.
Washburn, Wis.,, Nov. t2.-The tight.
ness Of the money market has during
the past week been the means Of clos.
ing down the large mill Of the Edward
Hines Lumber company, located at
Iron River, this county. Not only will
the lumber company close down its
sawmill. but 1t will cease opera.
tions in the woods tributary to the
mill, which will throw over 1900 men
out Of employment.