The citizen. (Honesdale, Pa.) 1908-1914, 1910-10-19
Il. ii. WATKINS OF SCRANTON A
BANKRUPT.

Thomas H. Watkins, a coal opera
tor, with offices in New York, has
filed a voluntary petition in bank
ruptcy in the United States Circuit
Court.
Watkins places his liabilities at
S1,275,549 with assets of S5S5,341.
The assets include stocks and nego-
table bonds worth S516,S66 and life
insurance policies amounting to $780,
096. OF the liabilities $821,919 is
unsecured.
Mr.. Watkins said he was forced to
file the petition owing to his heavy
investment in coal land properties.
He said he had S1,500,00O invested
in the Pennsylvania Coal and Coke
company, of which he was appoint
ed receiver about two years ago, and
as such has been trying to reorganize
the company, but without success.
He also had heavy investments in
other companies and concerns. Re-
Gently several of his loans had been
called in and he said there was
nothing left for him to do but to
go into bankruptcy.
The largest creditor is given as
Elizabeth Watkins, of Scranton, Pa,
whose secured claim is for $271,242.
Other Pennsylvania claimants in the
secured class are the Traders Ma
toinal bank of Scranton, $10,216;
o. S. Johnson, Scranton, $19,SS6;
Miners Savings bank, Pittston, Pa,
S19, All; First National bank, Beth
lehem, Pa, $4,000; First National
bank, CarbOndale, Pa, $4,000; First
National bank, Harrisburg, Pa, S.
983; First National bank of Phila-
delphia, $50, 0,625; First National bank
of Pittston, $7,513; First National
bank, Scranton, $51,133; Estate of
Byron d. Hamlin, Smithport, Pa,
$4S,663; North Scranton Bank, S5,-
600; Pittsburg Life and Trust Com
pany, Pittsburg, $1,000.
OF the unsecured creditors the
largest claim is that of w. l.. Stow
& Co. of New York, for $131,S37.
Among out-of-town creditors in this
class are Clarence ID. Simpson of
Scranton, $42,141; Bloomsbury Ma
tional bank, Bloomsbury, Pa, $4,-
594, and T. II. Watkins & Co., of
Scranton, $77O2
Thomas H. Watkins, the New York
broker, who went into bankruptcy,
recently moved to Scranton to New
York to be nearer the base of oper-
ations he was carrying on to retrieve
a fortune estimated at $4,00O,0O0,
which had deprecated as a result of
Improbable investments.
Watkins attained national renown
as a member of the Anthracite Mine
Strike commission. Prior to that he
was reputed to be the confidential
adviser of John Pierpont Morgan and
other big moneyed men in all i'm
portant matters pertaining to the
operating end of the coal industry.
He started in the coal business as
a clerk for a small company in
Throop and made his money in
comparatively few years, associated
with G.. ID. Simpson in operating
eight collieries in this region. Simp-
son and Watkins sold their collieries
at the time the Independent opera
tors were projecting a road of their
own from the Anthracite fields to
Tidewater, and the project thereup-
on died. The Temple Iron Company,
which is officered by Geo. f. Baer,
of the Reading, as president, and the
presidents of the other big coal car
rying roads as directors, bought the
Simpson and Watkins properties.
After retiring from the anthracite
field Mr. Watkins went into the soft
coal field and met with reverses.