People's Pilot, Volume 2, Number 45, Rensselaer, Jasper County, 28 April 1893 — FAIL FOR A MILLION. [ARTICLE]

FAIL FOR A MILLION.

Ohio Coal Exchange and the Crescent Company in the Hands of a Receiver. Columbus, 0., April 25. —Receivers were appointed Monday for the Ohio Coal Exchange company and the Crescent Coal company. The assets of both are $400,000 in bills receivable, open accounts, coal and money in bank. L. R. Doty, Chicago; E. C. McKelvey, Jackson, O., and O. A. Mauck, of Columbus, are the principal men of the two companies failing. They had a paid up capital stock of $100,000. The Ohio Coal Exchange offices are in Chicago. The company has no mines, but does a brokerage business in coal in the northwest. L. L. Rankin was appointed receiver for the Ohio Coal Exchange company of Chicago, bond $15,000, and F. S. Knox receiver of the Crescent Coal company, bond $10,000. The liabilities of the Ohio Coal Exchange company alone are given at $900,000. The assets and liabilities of the Crescent Coal company are not dis-. closed, but Secretary Mauck says the failure is complete.