| Show FAILS FOR BIG SUM Professional and Laboring Men Lose Money in nn Ohio Reduction Company Cleveland 0 Aug 20Dr Chaun coy B Forward president of Hie Forward Reduction t company today filed a Dctltlon In bankruptcy tn the United States District court 3Ils schedule shows that he owes 378557 and has assets worth 1225 of vivhleh 5910 Is exempt Dr Forward creditors credi-tors as nuuiud are scattered all overlie over-lie United Stales It is sairl and he owes them each nil the way from 100 to 5000t Dr Forward went Inlo Ijnnk d up ley because of the financial cmbar riLssmunl of the Forward Reduction company of which he was president a principal stockholder and a heavy in dorscr The Forward Reduction company com-pany will follow him into bankruptcy court The holdings of the company are located lo-cated In Orange and Jefferson counties Texas and across the State line In Louisiana They represent lands owned In fee simple and held under long term lease Of the leaslngs it Is estimated that 80000 acres ire alive some of the poorer territory having been abandoned aban-doned Fully 12000 acres are owned outright The company was engaged In the refining of oil and oilier similar products under a secret process of Dr Forwards discovery Dr Chaunccy B Forward and L > V Denis organized the company In Cleveland Cleve-land in JS07 IL has a capital of 5000 000 of which S2SOOOOO hua been issued the balance being held In the treasury I The stock Is held nil over the country and a lot of It abroad There are about SOO stockholders The attorney for the company said TJie company will bo reorganized along lines already defined de-fined Creditors will be sntlslied by giving them stock If possible at any rate In the manner best possible rue concern will not g ° to pieces Lawyers doctors clerics and many toilers In shops and factories arc numbered num-bered among the shareholders |
