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LOCAL LINES WILL NOT LOSE Defanct Investment Company Owns Railways Here Suspension of Philadelphia Company Will Not Have Noticeable Effect Here, Says Mr. Cooper The Real Estate Investment Company, of Philadelphia, owners of the Wilmington and New Castle and the Delaware City Railway Companies, closed its doors yesterday afternoon, and posted notice that a voluntary assignment had been made to John J. Ridgway, president of the company, and the principal stockholder. Coupled to the information was a request for depositors to return their bank books for settlement on Monday. The temporary suspension of the business will not interfere in any way with the operation of the local railways, however, according to the statement of Peter L. Cooper, Jr., local counsel for the companies. The liabilities of the company are said to be $110,000. It was announced yesterday by the officers of the institution that its real estate holdings are valued at $300,000. For a number of months past, however, the company has been unable to realize on its assets, owing to the sluggish demand for real estate. It was also announced that for several months past the company had refused to accept new depositors, except g such as wished to open accounts for comparatively small sums. The officers have been very hard pressed for cash, and have been in constant fear of a check being presented which they would be unable to pay. A meeting of the board of directors was bold yesterday, at which it was decided to suspend payment. It was emphatically announced that stocke holders and investors would ultimately be paid in full. O It is estimated that but one-sixth of n the real estate owned by the company h is at present available, so that it is f thought considerable time will elapse before a full settlement can be made. , The authorized capital stock of the t it company is $500,000, of which amount the records show $310,805 was paid in e on June 1 last year. In November of the same year the capital was reduced 5. to $155,402. et ct At the time of the failure the offia cers of the company were: John J. Ridgway, president; R. Steen Martin, secretary and treasurer; Francis H. Thole, solicitor; directors, John J. Ridgway, Francis H. Thole, Clarence P. King, Niles M. Miller and Charles G Wingman. Of these Clarence P. King is treasurer of the local railway company, and of Mr. Martin one of the foremost direc. tors. y,