Thank you for visiting SNEWPapers!
Sign up free
Domestic News
November 1, 1915
The Daily Journal
East Saint Louis, Saint Clair County, Illinois
What is this article about?
Bondholders secured the appointment of E. H. Smiley as receiver for the Joseph Taylor Coal Company in O'Fallon, citing poor market conditions despite solvency claims by owner Joseph Taylor.
Clipping
OCR Quality
98%
Excellent
Full Text
RECEIVER NAMED FOR O'FALLON COAL COMPANY
Holders of $30,000 worth of first mortgage bonds issued by the Joseph Taylor Coal Company of O'Fallon, which operates three mines, and owns outright and has under lease about 1000 acres of coal lands in St. Clair county, Saturday secured the appointment of E. H. Smiley, an O'Fallon banker, as receiver for the coal concern.
The mortgage bondholders were joined in a petition with the holders of approximately $12,000 worth of additional claims against the company.
Joseph Taylor declares the company is solvent, but that the poor coal market of the past three years has made profitable operation impossible. Taylor has been mayor of O'Fallon and now owns a general store, the opera house and much other property in O'Fallon.
Holders of $30,000 worth of first mortgage bonds issued by the Joseph Taylor Coal Company of O'Fallon, which operates three mines, and owns outright and has under lease about 1000 acres of coal lands in St. Clair county, Saturday secured the appointment of E. H. Smiley, an O'Fallon banker, as receiver for the coal concern.
The mortgage bondholders were joined in a petition with the holders of approximately $12,000 worth of additional claims against the company.
Joseph Taylor declares the company is solvent, but that the poor coal market of the past three years has made profitable operation impossible. Taylor has been mayor of O'Fallon and now owns a general store, the opera house and much other property in O'Fallon.
What sub-type of article is it?
Legal Or Court
Economic
What keywords are associated?
O'fallon Coal Company
Receiver Appointment
Joseph Taylor
St Clair County
Coal Market Distress
What entities or persons were involved?
E. H. Smiley
Joseph Taylor
Where did it happen?
O'fallon, St. Clair County
Domestic News Details
Primary Location
O'fallon, St. Clair County
Event Date
Saturday
Key Persons
E. H. Smiley
Joseph Taylor
Outcome
appointment of e. h. smiley as receiver; company declared solvent but unprofitable due to poor coal market.
Event Details
Holders of $30,000 first mortgage bonds and $12,000 additional claims petitioned for and secured the appointment of E. H. Smiley as receiver for the Joseph Taylor Coal Company, which operates three mines and owns/leases about 1000 acres of coal lands.