US Rolling Stock Nov. 24, 1890

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US Rolling Stock Nov. 24, 1890 - by such a n Ust year. A of of n a t i o n a l...
by such a n Ust year. A of of n a t i o n a l protection, free o n The e v e r . In c h o r u s sind solo u s i c tlie OarnriK- i l l bo c i n n a t i ; John o l o g i s t ; U., and tor, rearfa.u e r i n t e n d e n t i g camp meet Summer u n i t e t i o n of pant o w i n g : s t r u m e n t s , of a r t , oil c h i n u ot college p r e p a t f i - l do Lnko past. School h i c a , echnnl ot c l u b / ' school cooking school. on other a r y , i.ounat work a ' m a t nu be progressive, , msti n c t i r o , i l l not tho Wubor L. B, P. famous ninle exceilenoi', a prodigies-M tho boy riolin- h o p h n n o r n - said a r today i l cities their en- clip y plcuar-d audience thtit of A nio r,\if,i)nr:. MOCK a. KB- United MatcN lloliiiiar Couipanv Iti tlic HtiHdai of cclvcr. CHICAGO, Nov. 22'.--Tho United States Eoliiner Stock company, having laree plant at Hegewisch, was last night, placed in the hands of a Fhn liabilities aro givun at $3,810,000 and the assets at $6,053,000 Attorney J. L. High, of the company, nays :'ailure was precipitated by slow col- octions and the depression in the money (Market. This company is )t' rim largest, it' not the Jaigesf, b u i l d e r of railway cars in ( ami baa plants nt Hesewisch, 111., DecatiiT, Ala., Anniston, Ala., and Jrbana, O, Tho capital stock of the iomoany is $4,000,000, ot which 3,000,000 is paid up in cash, and n $500,000 ot stock not yet issued. Cho assets of: the comDany consists shops, jards, real estate, and ry at, Ilegewisch which originally -,1,400,000 and which are now claimed y reason of tho advance in real vnlues to be worth at least $2,000,000; ts ahops and works a: Anniston, v h i r h cost $700,000; its o l a n it Docatnr, coating $500,000; its shops ami works at U r b u n a , S180.000; and timber lands in Alabama, $40,000. All these proportion, it is claimed bv the company have greatly enhanced in values, t h e Henren )oinu the original cosr. Other assets of the company are car trust bonds, $1,533.000; rolling stock leasnd to nrious railroad companies, ,$300,000; supplies and material in proc«nB ot m ma fact are, 81,100,000: o u t s iccoanta good and collectible. S300.000; m a k i n g the total assets $0,053,000. The liabilities are: 0 pnr cent d o tares, unsecured, 870,000; 5 per cent, lebdntures, secured by 81,000,000 car Tiist, bonds as collateral, 6870,000: 0 per cent bonds, secured by arst t go on real estate and w u r K H 'prewiacli, $240,000; 5 per cent consolidated bonds, HHCured by tirsr, m on all tho company's shnpp, property exce7)t tlie Ilegowisch n l a n t , and by second juortgago isch property. $1,000,000; bills payable for material supplies and current expensed, m a t u r i n g ninety days, $500,000; hank loans m a t u r i n g with uhort tiino. total liabilities, $3,816 000; excess ot assets over liabilities, $3,813,000. James L. Ili^h, who represents ompany, in speaking of the affair today, said: "The company has in employ at its various works 3,300 It has been obliged to pay cash to employes and for material to tho of $000,000 monthly. Tho present stringency in tho money market has compelled tho railroad companies nave bought tho ears of the rolling stock company to pay their bills in !ong time paper instead of cash, has been extremely difficult to discount the paper. Mr. Royo, in his bill, that he fears that unless a receiver appointed that some creditois of the o m p a u y may attach tho thereby gain an unjust preference There are abundant assets to pay t the debts if a little time is the company to collect its outstanding iicconiite." Judge Blodgett immediately appointed appointed A. Hegewisch receiver. ?Ir. HeRewisch, is the president at present and has beon for nineteen years. judge aloo ordered the receiver to t i n u e the works and not let plants be shut down. Mr. Hegewisch . ave bond in the snm of ?500,000, \V. P. Kond as surety.

Clipped from
  1. The Sandusky Register,
  2. 24 Nov 1890, Mon,
  3. Page 1

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  • US Rolling Stock Nov. 24, 1890

    NancyM3292 – 25 Jun 2013

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