The evening world., 1911-02-03
IronmaSter Finds Himself
Owner of Stock Yards and
Big Foundry Plant.
EACH HAS BIG DEBTS.
"Active, Going Industries, but
With Notes to Amount With
held by Lawyer Cromwell

''tll NJ 'NiAh w no AANhiNNF w. N
OF a stock yard and an ron works.
MIR. Carnegie docs not relish the sugges-
ton that he return to business activity
and operate his new properties. In fact,
Mr.. Carnegie has declined TO meet any
assessment mad for the purpose OF car
rying on the business OF the 49, 600
Tennessee Packing and Stock Yards
Company OF Nashville, Tenn. and the
$50. 900 Plat Iron Works Company of
Dayton. o.. the control OF which two
enterprises Mr.. Carnegie holds as part
collateral for n loan OF $1,000 600 made n
year ago to eight directors of the Car
ncgie Trust Company, which institution
was closed by the state Banking De-
partment on Jan. I. &
The circumstances OF this 5000. 900
loan were told In The Evening World
yesterday In It's exclusive account OF the
state Banking Departments throwing
out OF the Carnegie Trust Company four
500, 600 fertilizer loans which action
nccossitatcd an appeal by the directors
to Mr.. Carnegie for his assistance. The
s., 400, 600 represented In the fertilizer
had been used by Mr.. Cummlns
and his associates 10 buy control OF the
Madison Trust Company. formerly the
Van Norden Trust Company, and two
other uptown institutions.
Won't Prevent Reorganization.
Mr.. Carnegle's decision O. remain
permanently out of business was con-
veyed by a trusted representative late
yesterday afternoon to William Nelson
Cromwell. who within the last few
days. as attorney for n group OF New
York banks holding notes issued by the
stock yards and iron works companies.
has doomed large IN the affairs OF the
Carnegie Trust Company. However.
Mr.. Carnegie. through his agent, as
sured MIR. Cromwell and tho members
Of the Cummlns syndicate that h,
would not stand In the way of any
reorganization plans tina might be- &c
termined upon.
This friendly attitude on the part o
Mr.. Carnegie was confirmed by MI
Cromwell to an Evening World re
porter to-day at his residence. No. J.
West Forty-ninth street. where tn,
conferences with members Of the Cum
Minis syndicate are being held. MIR
Cromwell dictated the following state
ment for publication:
Il represent banks and other credit,
ors OF the Tennessee Packing and Stocl
Yards Company and the Plat, lror
Works Company only. In that connec,
ton j have made an examination Of
the general transactions OF the syndl
cate. The gentlemen involved hay,
been exceedingly ran In aiding tn,
Inquiry Which l a instituted an,
have facilitated these inquiries. Tn,
status OF the corporations Is now unde1
investigation, and as soon n we re
celve reports we will determine whethe
to continue operation of these indus
trial companies or llquidate the same,
They are both active. going con
Germs, and 1t seems at present to NJ
interest OF creditors 20 continue thcl
operation. although final reports ma,
alter present impressions. Practical.
all OF the creditors have manifested q
me this disposition. including the hold
ers OF the stock OF the companies"
Can't Annouics Indebtedness.
That Mr.. Carnegie holds the stock 0
these two Industrial corporations doubt
less surprise some of the bankers VIII
discounted large quantities Of thei
notes, 1t was equally a surprise to NJ
Carnegie to learn OF the large amour
Of paper outstanding after Mr., Cron
well had completed his quest of III
notes through the New York City bank
What Is the amount OF paper gu
standing against these two industrli
corporations?" was asked of Mr.. Cron
well.
AT this stage OF our inquiry It woul
not be proper FOR me to give any III
wes,' he replied.
The Evening World has ascertaine
that tho notes OF the Tennessee Pacl
ing and Stock Yards Company ia,
Proportions of a serious character. WI
=, respect to the Plat Iron Works Con
rany there Is known TO be outstauui'
& loans a~ggrcgatlag $4,000, Here is
brief summary OF MIR. Carnesie's 60
. porat'aua and their directors at II
time cc the collapse OF he trust con
3 pany noarns his name:
Here'l What Carnegie Got.
Tennessee Packing and stock Ynr'
C~orpany-Thc property consists OF
, packing house and stock yild., 10
, mc,ly the all ,IHlon stock YarAs.
Nashville. Team, and in The same GO
nec'ion a cold storage plant and a e.,
works are operated, the soap works
% Gently were rebuilt AZ an outlay
\, $4,000; capital. 100000, directors, y
- Cummlns. Judge william y, Keen
ID Martin J. Condor, Samuel H. Hress.
- y. Reicl mann, G, 4. Moore jr., John
% liza wilkinson, Jordan stokes 81. n j.
e. ferspn Livingston,
c. Plat Iron Works Company-Succes'
TO the Slwel-Bierce ana smith-Va
IS Companies. manufacturers OF pun
filter presses ara various machinery
rs handling cotton, iiuseed and corn
Us with a plant covering thirteen aCr
10 located AZ Dayton, o.; capital. sSOO,l
TO directors. Mi. Cummins, J. u. Ret
II. mann, y. J. Condor, Judge William
keoncr. @. G. Cummins. O., u, Cral
Of Cincinnati, o., J. H.. Burrows. T.,
at Plat and O.. J.. Dyer.
How Mr., Carnegie, at hts adyaA.