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Banker Is Bankrupt. Chicago, August 7.-Petitions were filed in the United States circuit court here today, asking that Frank R. Chandler, a mortgage banker operating under the names of Chandler & Co., and the Chandler Mortgame company, be declared a bankrupt. The petitions set up that Chandler has liabilities exceeding $600.000 and assets or not more than $75,000. Referee Eastman appointed Henry W. Lehman receiver. Chandler maintains he has book assets in excess of his liabilities.
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been on for three years, and is now practically assured. It will control the business of the three States along the fish and canning lines. Headquarters probably will be in New Orleans. Ten companies are in the combine. The National Light, Heat and Power Company was incorporated at St. Louis yesterday with a capital stock of $1,500,000. The shareholders are all prominent St. Louis business men. The company was organized for the purpose of owning, controlling and exploiting all fundamental principles of the application of oil as fuel in burners for domestic use and under boilers for locomotives, steamships and manufactories. The Cambria Steel Company has bought Republic iron ore mines in Michigan, says the Philadelphia Press. This company owns other iron ore mines both in the Mesaba region and the hard ore region. It is understod the price paid for the Republic mines was over $1,000,000. While all the details have not been perfected for turning over the Republic mines to the Cambria the deal has practically been settled and as soon as arrangements can be made the property will be operated by the new owners. The Elevators' Association and the Western Elevating Company reached an understanding at Buffalo yesterday, with the result that all the elevators of the two organizations are now in a single pool and the rate war is practically over. The Great Northern elevator, with a capacity of 3,000,000 bushels, however, is still on the outside. The elevator rate has been advanced to one-half a cent a bushel by all elevators in the new pool. During the strike between the elevators the rates went as low as oneeighth of a cent a bushel. Petitions were filed in the United States Circuit Court at Chicago yesterday asking that Frank R. Chandler, a mortgage banker operating under the firm name of Chandler & Co., and the Chandler Mortgage Company, be declared bankrupt. The petitions set up that Chandler has liabilities exceeding $600,000 and assets of not more than $75,000. Referee Eastman, in the absence of the United States judges, appointed Henry W. Lehman receiver. Chandler maintains that he has book assets in excess of his liabilities.