The Lamar register. [volume] (Lamar, Colo.) 1889-1952, 1908-01-22
FAILURE OF
0RMAN & CROOK
BIG CONTRACTING FIRM FILES
PAPERS IN BANKRUPTCY IN
FEDERAL COURT.
LOST ON CONTRACTS
REPuTED ASSETS, INCLUDING
PERSONAL PROPERTY, Elk
cEEo LIABILITIES.

Denver-Orman & Crook. contrao
tors, with Offices in this city, but with
most of their contracts beyond the
state, filed papers in bankruptcy pro-
ceedings in the Federal Court Thurs
day. Their liabilities are given al
s741.136 and their assets at $1,2S2.171.
Tight money markets and trouble WITT
the reclamation service over their con
tracts are given as the cause. Inc
end had been seen for some time.
Fully three weeks ago the Monat roa1
Cancelled the firms construction COZ
tract and on assignment took posseH-
sion of the grading outfit and went 10
work for the time being building tns
road under General Manager Deuel.
Other contracts in Montana, Idaho and
South Dakota had been Cancelled or
suspended. Although money was made
on the Moffat road the firm lost heav-
lily on the other undertakings. partic-
ularly the reclamation contracts. an
experience not new to this firm.
To say that the firm will pay In full
would be wrong. says the Republican,
although the assets on paper are haif
a million dollars more than the liabfl
tiles There will be losses to the I'm
secured creditors, although Mr.. Orman
has put his personal property. incluG-
ing his home. into the assets and his
partner has done the same. Heavy
losses followed a contract for con
struction work In Montana for the
Chicago, Milwaukee & st. Paul rail
road.
The principal creditors of the irm
are the First National bank Of Denver
and the First National bank Of Pueblo.
To the former the company is indebted
to the amount of 1854, z55.5G, which Ia
well secured by real estate in this city
and Pueblo valued at $1s0.17S.s3. The
Pueblo bank has a claim of $J73. 799.2o.
which is secured by real estate worth
10000. Their residences at Pueblo,
the ranches owned by them and all
their real estate are included in the
mortgages given to the banks.
Two months ago the firm completed
the Uncompahgre project at Montrose
for which 1t was awarded the contract
by the government. The men who
were employed on this work have been
paid of and only those who sold sup
plies to the company while the con
tract was being carried out will be AT
fected by the bankrupt condition OF
the firm.
There are So, ss3.2s due for mater
ial and labor on the MofYat road. Mum
erous creditors are scattered through
out Colorado, Montana and North Da,
kota and their claims are chiefly for
supplies furnished the men and horses
employed by the company. The Hun.
garian -four mills and the C. 8. Mprey
Mercantile Company have large claims
Of this kind.
OF the assets 1858, 1884 ID due the
| firm on open accounts. Among the
other important assets are included
machinery and tools valued at $172,
700, horses valued at $52,650 and
stocks and bonds worth s125.000.
The Colorado-Utah Construction
Company owes the fun s140.17s.S3
while the United States reclamation
service owes it s49.10S.34 on the Un-
compahgre project.
Mr.. Orman is personally indebted
to the firm to the amount of $46.9S7.5s
for money drawn at various times
while Mr. Crook is debtor to 1t to the
amount of s4S.394.S9.
According to the individual pet
filed by Mr. OrnlaE his ,iabil.
amount to $129,3S79S and his asse s
come to s333,05O.25. Mr.. Crooks liza
bilities total $12S,751 16 while his as
sets aggregate S103.050.
Orman owes the FIRST National bank
of Pueblo $4,000 which is secured by
real estate to the value of &1S5.000
A contingent liability mentioned In
the schedule is $4,000 owed by him tc
the government on a contractors bond
given by Taylor & Moore in connec.
ton with work on the Uncompahgrc
project. He owns stock in the United
States Exploration Company. the Riv.
erside Investment Company. the Lake
Park Land Company, the Bankers
Consolidated Mines Company. the Bees,
semer 1rrigating Ditch Company and
other concerns with total face value
of s17G,334.
In the petition Mr.. Orman says that
all the cash he has on hand is s51G.25.
The household furnishings and goods
in his residence at Pueblo belong to
Mrs. Orman.
Mr.. Crooks principal debtor Is the
Pueblo Savings hank to Which he owes
| $50 1000. The claim is secured by real
estate worth $4,000. His chief as
sets consist of stock