Publication: The Wheeling Daily Register
Wheeling, WV, United States
IN VERY BAD SHAPE.
THE OHIO VALLEY GLASS WORKS IN
Attachments Made Upon the Property by Creditors —
The Prospects for Liquidation Seem to
be Rather Dubious.
The Ohio Valley Glass Company, of Bridgeport, a concern which, as far as could be judged from outward appearances, has always transacted a large and fairly remunerative business, yesterday reached a crisis in its financial affairs, and was practically handed over to its creditors, although no formal assignment has been made, so far as we can learn. The company, as originally organized some six years ago, embraced quite a number of Wheeling men, and started out with a capital stock of $20,000 under a charter issued by the State of West Virginia. Under a reorganization, which took place some two years ago, the stock was increased to about $26,000, and business was continued with apparent success. Something over a year ago the works were destroyed by fire, but were at once rebuilt, and continued in operation when many of the other industries on the west bank of the river were lying idle, affording employment to a large number of men and boys.
The officers of the company are C. M. Rhodes, President, and Frank Seigel, Secretary, and the factory is located about midway between the C. & P. depot and the Aetna mill. The present trouble seems to have been precipitated through the serving of an attachment by Kochnlein Bros. of Bridgeport, for $1,700, executed by the Sheriff of Belmont county yesterday, which was quickly followed by the issuance of like papers in favor of the Bridgeport National Bank for $3,500, and Thomas Cassidy, a workman, for $350, the latter being obtained through B. B. Dovener, of this city. Other large holders of claims against the concern are Beatty Bros., Steubenville, $3,000; Wheeling Hinge Company, $400; Consolidated Fruit Jar Company, $10,000, and claims of unpaid workmen, aggregating $700. The total liabilities are supposed to be equal to or perhaps in excess of the assets, and it is very doubtful if the concern will be able to square up all around. Several Wheeling men are interested to a limited extent in the company.
|Keywords:||Ohio Valley Glass Company|
|Researcher notes:||NOTE: This is not the Ohio Valley Glass Company that manufactured insulators. This article is included here because of the frequent confusion that exists about it and the time that it was in operation.|
|Date completed:||May 1, 2006 by: Glenn Drummond;|