The evening world., 1907-09-04
IRON AND STEEL
COMPANY FAILS
FOR S2,000,0O0
-
Name Of Edward L Harper
Brought Into Prominence
by the Smash.
CAUSES STOCK FURRY.
CAUSES STOCK FURRY
Collapse of the Concern VIII
Put Hundreds of Men Out
of Business.

1As announcement to-day Ia Wal
sersst of tho tailurs OF the Uhion 1rop
A Steel lGnmpany. 10000 cohccrn
svetn giants in Ave S,atca. caused q
stock market hurry and brought to the
4dragglnd xnrfaoe OF finances once more
ia name OF Edward l. Harper. for
s.>er bankrupt and famous twenty years
asp a. head of the big Gndnnati
nvhsa. dss1,,- which collapsed. running
ttousands of Investors and landing It's
cnStreer In a Federal pen'tent'ars.
Harper In v.ce-prex!dent and sensrai
manager OF the company which ialied
so-day.
Tho ofitces OF me Utrton Iron ana steei
<rrnpany are Al No. Il BROADWAY a
roporter OF the Evening World fwno
called there a few minutes after the
arx announcement found giri IN
charge. On tho door was notice say
inx that on the petition OF the Norton
Oral cu,npany, OF BRISTOL. Va, Judge
aIos<. sitting In the United States Court
nero. A4d- appointed l.. C. Petit. of Biz
6.nns Gag. Va. as the receiver.
Only Mailing Office.
The solitary girl didn't know any
fhtng about the failure. The ONCE
where she sat wns only mailing offlce
anyhow, SHE said.
From other sources II was learned
chat the company. which is incorpor-
assd under the laws of Delaware. has
been employing large number OF men,
praet,caly all of whom are apt to be
sa1rown out OF employment Besides
Harper the other officers nre William
as,eh. OF Boston. president: Harpers
son. E.; l.. Harper. jr., secretary, with
offceH in Big stone Gap. and w. IL
Btnna.n. of this city. chairman OF the
executive committees. Thomas s.,
Holmes, treasurer. died recently The
company controls several subsidiary
companies II holds the Chatham iur-
mace In Columbia County. y. Y. where
ahe Salisbury pig iron is produced. a
smelling works in Ironton. o.. the
Union Furnace and Land Company al
Big Stone Gap, the Jefferson Steel
Works at Birmingham, Ala, and the
Union Rolling Mills M Denver. Cello.
producing steel rails and bolts. The
iitrra tnre OF the company states that
Sssu5a fiSssaafss sss 9.e!i.g oIsffElEu WIN rrTu
exception OF the birmingham furnace.
which a bracketed notice says has been
This u the nrst time Harper has been
prominent in print for, three years,
On june II. lyl. he Med petition 10
tfAen proniinen; In inc concern wnich
failed to-day, and was also president OF
the Big Stone Gap iron Company. Down
In Virginia Che natives thonEnt ne was
worth around three millions, but his Pc
tition placed his liabilities AS $s3s. .$oi.5i.
while his assets. according 10 the mem
ornndnm. consisted of one suit of clothes
valued at $50.
s.z,.a T,n vrsrx
:. In the late seventies his name was
familiar to every newspaper reader.
Harper. then living In Cincinnati. WAS
the head OF disastrous wheat specula-
ZION which came. 10 SMASH, involving
great numbers of persons The cr1ls o.
.ss5ss,g down p.ttItt tho F.sIAlitT- BaHk7s sf
Harper xas sen: 10 the penitenilary
for len years by Judge Sage in the
United States Court IN Cincinnati. Dec
j.. 1857 He served his time. moved TO
and started life all over again,
On Ma ~. 1901. Judgment for slso,-
1855 was entered against him in the Su-
prame Court In the suit OF John Y.
ts<wts. OF Cincinnati who sued on six
rsoies indorsed by Harper.
As told In court ut tho time OF tile
suit. Lewis gave the notes 10 Harper IN
order 10 bolster up his credi, during the
hie wheat deal. the understanding being
that they were not TO be negotiated.
Harper heard. however, that Lewis car
rsed u daily balance OF about 800, ,ooo in
the Chemical National Bank. of this
city and according 10 the evidence
brought ont In the Supreme Court.
slipped over 70 New York one day and
Eor tnEZ IIIgIny for tflur11. ~
Mr.. Lewis said ne paid Tho bank some
thing like 81, 600 10 cancel the ohlign-
ton