Jasper County Democrat, Volume 3, Number 48, Rensselaer, Jasper County, 9 March 1901 — J. E. SEARLES ASSIGNS. [ARTICLE]

J. E. SEARLES ASSIGNS.

Business Man Well Known in Sugar and Cotton Circles Fails. The failure of John E. Seavles, more famous as ex-secretary of the sugiy| trust than by reason of his present financial difficulties, was announced in New York Tuesday afternoon. The amount involved is not definitely given, but is said to be between SI.OOO.IHMt and $2,000,000. His interests of late have been varied and complicated. His wealth when lie retired from the sugar trust two years ago was estimated at $20,000,000. Wearies had been a financial genius. His assignment did not surprise financiers, a New York dispatch says, as it was known he had been embarrassed by too many interests rather ghan by the weakness of any one. Wall street says his tendency to speculate in “eats and dogs" was the reason for his sudden retirement from the sugar trust and the presidency of the Western National Bank in 1800. He is 01. The last two years he has devoted himself largely to the interests of the American Cotton Company.