 |
| Wickwire Bros. No. 1 and Cortland Chair & Cabinet Co. No.14, near E. C. & N. R. R. depot on 1894 map. (Touch or try a left click on the map to see the No. 14 near the corner of Railroad Avenue and South Main Street.) |
RECEIVER
APPOINTED.
CORTLAND
CHAIR AND CABINET CO. FORCED TO THE WALL.
Democratic
Hard Times the Cause for the Failure—Edward H. Brewer the Assignee—Liabilities,
$35,000.
The STANDARD is pained to announce the
failure of the Cortland Chair & Cabinet
Co. This concern has done a large business, but the stringency of the times has
been such that the company has been forced to shut down and turn its property
over into the hands of a receiver. This is done to insure an honest and equal
distribution of the company's assets among the honest creditors. Not until
judgments had been actually rendered against them, did the company abandon the
effort to raise funds and continue the business. The managers, Messrs. F. W.
Kingsbury, Frank A. Woodworth and Frank M. Newton of Homer will all have the
sympathy of our people. Messrs. Kingsbury and Woodworth have for years
possessed the confidence of the people of Cortland, and we believe them in
every way worthy. Mr. Newton is a young man and has not the experience of the
others in business, but he is known to be a man of integrity.
Mr. Edward H. Brewer, who is made the
assignee is a manufacturer of broad experience, of force and enterprise, and
will no doubt be acceptable to the creditors of the corporation. It would be
difficult to think of a better man for the place. We trust that some way may
yet be devised whereby the company may still continue business in Cortland.
Attorney Horace L. Bronson, representing the
company, was seen by a STANDARD
reporter this morning and made the following statement: "On last Monday at
the special term held by Judge Parker at Ithaca, on motion of myself as
attorney for the Chair company, Mr. Edward H. Brewer was appointed receiver of
the property of the Cortland Chair and Cabinet Co. An order was also made by
the court restraining all creditors from bringing any actions against the
company and also taking any proceedings on any judgments heretofore recovered
and restraining proceedings in any actions pending. The order also directs all creditors
of the corporation to show cause on February 1, 1894, before Attorney James
Dougherty as referee, at Cortland, why the said corporation should not
be dissolved."
In
response to a question put by the reporter Mr. Bronson stated that he could not
give the exact figures as to the corporation's financial standing, but that the
liabilities would probably equal $35,000. "The assets," he said,
"are perhaps not more than $25,000. Of course these figures may be
considerably changed by the appraisal and inventory soon to be made by the
receiver. I have the utmost confidence that Mr. Brewer will make the most
possible out of the assets in the interest of the company."
A reporter went this morning to the works,
which of course are shut down, and interviewed Mr. Frank A. Woodworth,
treasurer of the company.
"What was the cause of the company
being obliged to have a receiver appointed?" asked the reporter.
"Democratic hard times," replied
Mr. Woodworth. "The way times have been the creditors who have been given
notes and who have accounts due did not wait, but pushed their claims and in
order to serve all alike we had to have a receiver appointed. We, of course,
depend largely upon our sales for running the business, Owing to the times it
was next to impossible to get accommodations. We received letters from our
creditors, some threatening to sue, till we decided on the course we have
taken."
On being asked the prospects of the company
he said: "If the creditors grant us an extension of time and allow us to
continue in a satisfactory manner, we will; if not, we will have to put up with
the inevitable. As soon as the inventory is
completed, which will probably take the balance of the week, there will be a
meeting of the creditors to determine upon their course."
An unsuccessful effort was made this morning
to see Mr. F. W. Kingsbury, the president of the company, but he was not to be
found either at his office or his house. It was hoped that he might have
something to say which would lighten the gloom of the present trouble.
NOT A
DIRECTOR.
Hon. L.
J. Fitzgerald Interviewed Regarding the Madison Square Bank.
A number of the afternoon papers yesterday,
reporting the wholesale arrests of directors of the defunct Madison Square bank
in New York, made the statement "The only director for whom a warrant has
not been issued is Lawrence J. Fitzgerald, formerly state treasurer."
A reporter of The STANDARD this morning called
upon Mr. Fitzgerald at his office at the Cortland Wagon Co., and showed him one
of those clippings and asked him if he had any statement to make. Mr.
Fitzgerald replied that he had a very emphatic statement to make. He was not a
director of the Madison Square bank, nor has he been since May 26, 1892, at
which time he resigned both his vice-presidency of the bank and resigned from
the board of directors. He had too much business on hand to attend to the
matter so far away from home in addition to other duties. Mr. Fitzgerald said
that at the present time he had no connection with the Madison Square bank
direct or indirect, except as stockholder, nor had he had any other connection
with it since May 26, 1892.
On the return of the reporter to the STANDARD
office he looked over the files of The STANDARD for last year and in the issue
of June 8, 1892, he found published the very complimentary resolution passed
upon Mr. Fitzgerald by the board of directors of the Madison Square bank upon his
resignation from that body on May 26.
The reporter asked Mr. Fitzgerald how his
name came to be mentioned at all in connection with the bank after a lapse of almost
eighteen months from the time of his resignation. Mr. Fitzgerald replied that
while in New York yesterday he asked this same question of the receiver of the
bank, and was told that no new advertising cards containing the names of the
officers and directors of the bank had been published since the time when he
was an officer and director and that he supposed that when the reporter for the
New York papers called at the back and asked for a list of the directors one of
those old cards was given him without the correction being made.
The reporter asked Mr. Fitzgerald if he had
anything to say regarding the arrest of Mr. Charles E. Selover yesterday, and
he replied, why Mr. Selover is no more guilty of any fraud in connection with
this bank than you are. No one thinks he is. No one is accused of taking any
money there except President Blaut. The trouble with Mr. Selover is the sin of
omission, for which the law now imposes severe penalties. The board of
directors did not keep as sharp a watch as they should have done upon the
doings of the president of the bank, and for this all the directors are held equally
responsible. Mr. Selover was arrested in Passaic, N. J., and refuses to go into
New York state without requisition papers.
Broke
His Collar Bone.
Mr. James S. Squires started this morning to
go to Oswego on the 6 o'clock train to attend the meeting of the State Baptist
association. He was a little late in getting down to the station and the train
had already started when he reached the tracks. He hurried down the north side
of Railroad-st. and let the first cars go by him, thinking to spring upon the
last platform, as being the safest place to board a moving train. But by the
time that car reached him the train had considerable headway. Mr. Squires tried
to jump on but missed his hold and was thrown headlong in the ditch beside the
track. He was assisted to his feet and refused to have a carriage called to
take him home, saying he was all right. But on the way home he complained of
his shoulder.
Soon after reaching the house Dr. Reese was
called and found he had broken his collar bone. The fractured bone was set, and
Mr. Squires was out on the street again during the course of the forenoon, but
he will not again for some time try to board a rapidly moving train. It was
strange and exceedingly fortunate that he was hurt no worse.
PAGE
TWO—EDITORIALS.
◘
Consolation—Says
Matthew Marshall in the New York Sun:
"This wintry financial weather which now prevails must as certainly,
sooner or later, yield first to spring and then to summer as the earth revolves
around the sun. Unless the whole system of the universe changes we shall in a
comparatively brief period be again in the full tide of returning
prosperity."
◘
The millionaires have succeeded in getting
over the real estate tax by the shrewd expedient of not owning much real estate
in localities where the tax on such property is highest. Nobody can blame them
really. We would do exactly the same thing ourselves if we were millionaires,
you know. But the congressional wind now seems to be blowing in the direction
of an income tax. Congressmen who are not millionaires will argue that men who
have made large fortunes under this great and glorious government should now come
forward, and should be made to come forward whether they will or not, and pay
an income tax to help support that government when the import duties no longer
suffice to do so. That newly baptized Populist, Representative Bryan of
Nebraska, says he has been studying the subject with a view to preparing an
income tax bill.
◘
Instead of covering the dome of the new
national library building at Washington with pure gold gilding now when gold is
so scarce, why do not the authorities have it covered with the metal of the
future—the pure, dazzling white aluminium? It would shine like the stars in
glory for a generation, without a breath of tarnish or need of being reburnished.
Getting
Rid of Soft Coal Smoke.
Apparently the workers for the abatement of
the soft coal smoke nuisance have found a new way of approach toward the object
of their attack. They have taken a leaf out of the history of the discovery of
natural gas. When gas was introduced into Pittsburg, that city, which had been
the smokiest in the union, suddenly became cleaner than either Cincinnati or
Chicago. The next step was the reflection: If gas which gushes out of the earth
can work such a change as this, why cannot gas be manufactured that will do
equally well? And on that phase of the problem the reformers are now working.
Smoke consuming patents have been tried till
money, patience and hope are alike exhausted. They have been mostly abandoned.
Even where one seemed to promise anything it was impossible to find anybody not
steeped in stupidity to regulate it. In Chicago many private individuals burn
hard coal, though it is at once more expensive and more difficult to manage. But
it has now been certainly found that the real way to consume smoke is not to
make it at all, but to use gas instead of coal for all purposes.
Gas is becoming cheaper constantly. It is to
the interests of gas companies to furnish it as cheaply as it can be made, in
order to have it used for both heating and illuminating purposes. It will pay
them to do this. Either a cheap fuel gas might perhaps be made, or burners
invented which would cause ordinary illuminating gas to be consumed slowly with
great heat, little flame and no soot at all. Make gas for fuel cheap enough,
and everybody will be only too glad to use it.
A Morsel
for Taxpayers.
Do the taxpayers of Cortland county know
that the Democratic party, the party of undivided power and responsibility,
has increased the state taxes from $5,196,666 in 1891 to $10,418,192 in 1893,
notwithstanding the fact the corporation and other indirect taxes have risen
from $2,462,326 in 1891 to $5,101,704 in 1893?
The total State taxes, direct and indirect,
for 1891, amounted to $7,658,993, and in 1893 they amount to $15,519,896. The
increase in Cortland and adjoining counties over the taxes of 1892, which was a
large increase over 1891, is:
1892—1893—increase
Broome,
$51,603—$76,921—$23,318
Chenango,
32,422—39,647—7,225
Cortland.
19,890—25,817—5,927
Delaware,
26,111—37,223—11,112
Tioga,
23,577—30,748—7,171
Tompkins,
25,196—32,936—7,740
In this way the figures run on until the
total direct taxation is increased from $7,784,848 last year to $10,418,192 this
year.
This increase, as the Binghamton Republican truthfully says, is the
result of undivided Democratic responsibility which has piled up taxation in
New York City beyond the comprehension of the mathematicians of the district
schools, and is taxing Brooklyn until the taxes are all the liens the property
will stand, and capitalists refuse to advance money upon real estate mortgages.
Do the farmers of Cortland county want their
farms mortgaged in the same way to their full value, to the tax collectors? If
they are to prevent it they will have to go to the polls and overthrow
Tammany government at Albany.
HOMER
DEPARTMENT.
Mr. Geo. Knobel and his sister, Mrs. Anna
Rapp of Syracuse are the guests of their brother, Thos. Knobel, on Cayuga-st.
Henry Nixon has been appointed
superintendent of the Homer water works. He will
soon move into the house belonging to the company on the corner of West-st.
and Hudson-st. Mr. Nixon has lived in town a number of years, having been
employed as engineer at the Wire Fabric Co. Mr. Isaac Truax, whose place Mr.
Nixon takes, will be employed at the head office of the company in New York.
Mr. Augustus Kingsbury started for the [Chicago
World’s] Fair very unexpectedly yesterday morning. He did not intend to go half
an hour before train time, but meeting Mr. C. O. Newton, who was on his way to
the train he joined him and started.
Mr. David English has been employed by Thos.
Knobel in his popular barber shop. Mr. English has worked in the best barber shops
in Cortland and Mr. Knobel is to be congratulated in getting so good a barber.
Mr. William Potter continues in Mr. Knobel's employ.
The W. C. T. U. will meet next Tuesday with
Mrs. Cicero Phelps on Fulton-st.
The Fair
Perpetuated.
Probably very few visitors to the World's
Fair have not expressed sorrow at the thought that that vision of beauty on the
shores of Lake Michigan was so soon to vanish utterly and forever. This thought
has been the one sad thing about the Fair. It will be a pleasure to many,
therefore, to learn that Hubert Howe Bancroft, the famous historian, has begun
the publication, in twenty-five parts, at one dollar each, of what he styles
"The Book of the Fair, an Historical and Descriptive Presentation of the
World's Science, Art and Industry, as Viewed through the Columbian Exposition
at Chicago in 1893," which will perpetuate as far as ink and paper can the
memories of the great Fair.
The book will be one of the most elegantly printed
and illustrated works which have ever come from an American press, and the fame
of its author assures its accuracy and historic value. Three parts are already
published, and give guaranty of the excellence of those to follow.
Part I, after the preface, gives a brief history
of fairs of the past, with many engravings illustrating them, besides quite a
number of views of various parts of the Columbian Exposition. Then follows an
historical sketch of Chicago. Chapter 3d gives an account of the
"Evolution of the Columbian Exposition,'' and is continued through a
portion of Part II. It shows the growth of the various buildings and is full of
interest. Chapter 4, Part II, treats of "The Site, the Plan and the
Artificers" and contains cuts of remarkable beauty. Chapter 5 deals with
the "Exposition Management, Congress Auxiliary and Finances." Chapter
6, Part III, describes occurrences from the dedication to the opening,
including the naval review at New York, and is profusely and elegantly
illustrated. Chapter 7, Part III, takes up the government and administration
departments, and every page is beautified with engravings of objects of
interest.
The work is published by "The Bancroft
company, Auditorium building, Chicago,
Ill.," and the agent who secures control of it for any locality can hardly
fail to make a handsome profit. It is being most emphatically and
enthusiastically praised by the press from the Atlantic to the Pacific, and
will fill a place as a history of the great fair which will be occupied by no
other publication.
CLOSING
OF THE FAIR.
An
Appropriate Program Arranged for the Final Day.
CHICAGO, Oct. 25.—The committee on
ceremonies has completed the program for Oct. 30, incidental to the closing of
the fair.
It
suggests that a national salute of 31 guns be fired at sunrise, noonday and
sunset. The Liberty bell will be tolled at sunset also.
At 1:30 a. m. there will be a representation
of the landing of Columbus to take place on the lake front.
Fireworks will be fired from various points
within the grounds. Following this a monster band concert will be given on the
administration plaza.
In the evening there will be a brilliant illumination
of the buildings and grounds, concluding with a grand display of fireworks on
the lake front and court of honor.
The program will include the presentation of
awards, which have been submitted to and approved by the commission, to American
exhibitors, remarks by the president of the exposition, "Auld Lang
Syne," sung by the audience, and benediction.
President Higinbotham yesterday gave a
luncheon to the newspaper workers at the fair.
BREVITIES.
—Samp and milk to-night at W. C. T. U. rooms
from 5 to 8 o'clock.
—At a recent meeting of the Cortland city
band, Mr. E. G. Blair was elected secretary and treasurer.
—The Young Ladies' Mission circle of the
First M. E. church will hold a social in the church parlors Wednesday evening, Oct.
24.
—A special meeting of the Ladies' Auxiliary
of the Y. M. C. A. will be held Thursday, Oct. 26, at 3 P. M. A full attendance
is desired.
—A bay mare hitched to a buggy was found on
the road to Virgil Sunday morning. They still remain uncalled for in the hands
of Sheriff Miller.
—The grand jury were expected to report about
4 o'clock this afternoon. A report of their findings will be given in full in to-morrow's
STANDARD.
—There will be a regular convocation of
Cortland Chapter, No. 194, Royal Arch
Masons, this evening at 8 o'clock, at their rooms in the new Masonic hall.
—The public schools of Waterloo were yesterday
closed by the board of health on account of the prevalence of diphtheria in
town and among the school children.
—The St. Andrew's Brothers of Moravia, are
making arrangements with the City band to give a concert for the benefit of the
St. Matthew's church building fund,
—An extra panel of one hundred jurors has
been drawn in Onondaga county for the trial of the Wilson brothers, the
murderers of Detective James Harvey of Syracuse. The court sits next Monday
morning.
—Notification has been received by the board
of United States civil service examiners that the following persons who took
the civil service examination held on August 5 last, passed the examination at
the required average and are eligible for appointment to the grade for which
such examination was taken, E. H. Toomey, Patrick Conway, Vincent M. Couch,
John Drake and William E. Martin.
—The Oxford cushion tire bicycle, belonging to
little Raymond Campbell, son of Rev. and Mrs. D. D. Campbell, which was stolen
from the parsonage barn last Sunday evening, was found yesterday at the rear of
the First M. E. Church. Dr. Campbell said that he thought the account in Saturday
evening's STANDARD frightened the thief into returning the machine. Little
Raymond was glad that it was returned although it was considerably damaged.
—A young man in Norwich was decoyed out of
town Sunday evening on the plea that his brother had fallen from a tree while
chestnutting and had been severely injured and needed his assistance. While in
a lonely place on the way to the house, where his brother was said to be, he
was sandbagged by two men, gagged and robbed of $57 and his watch. As the thieves
were leaving one said "The watch would be a dead give away," and it
was returned to his pocket. There is no clue to the highwaymen.
—Miss Maggie Force gave an exceedingly pleasant
progressive whist party last evening at her home on Tompkins-st., to twenty-eight
of her lady and gentleman friends. Delicious refreshments were served by
Griffith in his usual excellent style. The lady's prize, a blue silk purse, was
taken by Mrs. T. H. Wickwire and the gentleman's prize, a silver satchel bag,
by Mr. Fitz Boynton. The lady's "booby" prize, a package of candy
done up in silk, went to Miss Ella Lobdell and the gentleman's, a 10 cent piece
and silver scarf pin (dime-and-pin) along with several pounds of twine and paper
enclosing them, went to Mr. Jas. H. Turner.
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