Jasper County Democrat, Volume 4, Number 40, Rensselaer, Jasper County, 11 January 1902 — WRECK OF THE ASPHALT TRUST. [ARTICLE]

WRECK OF THE ASPHALT TRUST.

Philadelphia Investors Will Lone A trout Twenty Million*, It I* Figured. The asphalt trust Is busted. Receivers have been appointed for the National Asphalt Company, capital $22,000,0X1, and the Asphalt Company of America, capita $30,000,000. It is said Philadelphia investors will lose $20,000,000. From papers submitted in the application for a receivership, It appears the company is confronted with no better prospect than that of an annual deficit of about $1,500,000. Excessive capital* ization, predicated upon overconfidence and False promises on the part of th« organizers, seems to be the cause of the trust’s downfall. Commissioner of Public Works McUann of Chicago, an expert on asphalt, says the application for a receiver is a trick of the trust to get the company in the hands of the federal court and secure the backing of the government to tho claims of the trust in the Venezuelan asphalt deposit.

Elijah Wisdom, colored, who murdered Rev. ▲. J. Brooks near Mount Pleasant, Tenn., the day before Christmas, wat captured near Hohenwald and placed in jail at Columbia, Tenn. A reward of S2OO had been offered by Gov. McMillla.