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WHOLE NO. 163FAILUREOF THE WARD IRON COMPANY.The unwelcome news reached this place Friday morning of last week that the Ward Iron Company, at Niles, had made an assignment of all their property in that place and New Philadelphia. To some persons the news was not unexpected, as a lien of $4,000 was taken on the mill here afcout a month ago by Wenz «fe Co., of Dover, lor fire-brick furnished. Since the mill first started the company has been issuing four-month orders, which did not have tfie effect hi establishing entire confidence with our people, although some id* the business men accepted them at a discount, while others bought them on speculation. The amount held here is between six and seven thousand dollars, J/essrs. Custer Walton, dry goods merchants, holding the bulk of this paper.The mill here is said to have exist $175,000, and is probably the finest establishment of the kind in the State. It was making money for the company, and had large orders to fill. The amount of failure is approximated at between $750,000 and $*00,000. There is but one mouths jmy due the laboring men, and they will probably get their money at an early day. Hiram Grim, dealer in groceries, held about $2,000 of their orders, and was farced to make an assignment. This is the second time Mr. Ward has failed, liabilities on the former occasiou lieing over one million dollars. The citizens of New Philadelphia invested $40,000 in the mill here, besides 20 acres of land, and still retain an equitable interest. A deed for the land has not yet been given the Ward company. Below will le found an abstract of leins placed on the mill since the failure:Following is a list of Mechanics leins against the Ward Iron Company:Wenz, Wagner Co., tire brick manufacturers, 2 leins; aggregate amount of money, $4,152.84; tiled June 30, 1883.Custer, Roberts lt;Fribley, hardware dealers, lein for $93.20; tiled July 27, ’83.Win. Campbell* as assignee of English Dixon, lein for $2,042.88; tiled July 27, 1883.Reeves Brother of Niles, Ohio, contractors and builders of the puddling mill and boiler building, lein for $10,237.13; tiled July 27/83.Read White, brick manufacturers, lein for $1,076.30; tiled July 27,’83.Wm. MeCIean, lime dealer, lein for $135.58; filed July 27, '83.Crisswell NagJey, lumber dealers, lein for $53.18; tiled July 27,’83.Lewis Zellner Son, hardware dealers, lein for $85.55; tiled July 30, '83.Alexander Crites, lumber, lein for $26.08; tiled July 30, '83.Alfred Mathias, stone work at mil), kin for $191.83; tiled July 30, ’83.
Newspaper Details
New Philadelphia Argus
New Philadelphia, Ohio, US
Thu, Aug 02, 1883
Page 1
Full Page
Clipped by
Kim J.
NA, 07 May 2024
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