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FAILURE AT WORCESTER. Winslow & Co's. Affairs Placed in Hands of a Receiver. Worcester, Mass., Nov. 12.-The financial interests of Col. Samuel E. Winslow of this city, doing business under the firm name of Winslow & Co., bankers and brokers, and the Samuel Winslow Skate Mfg. Co., all but two shares of which are owned by Col. Winslow, were, today, placed in receivers' hands on the petition of the Citizens National Bank of Worcester, represented by Attorney General Herbert Parker, the bank's solicitor. The total indebtedness of the Winslow in terests is upwards of $500,000, much of which is in negotiable collateral of doubtful value. The largest unsecured creditor is the firm of Lee, Higginson & Co. of Boston, bankers and brokers The petition was a friendly proceeding in which the majority of the rrediters concurred and Col. Winslow through his attorney, Ralph A. Stewart, filed his answers at the same time as the bills of complaint were presented. The immediate cause for the failure was the liquidation of the Citizens National Bank of which Col. Winslow was a director and the heaviest stock holder. The bank held two demand notes each of $15,000 against Winslow & Co. and the Samuel Winslow Skate Mfg. Co. The Samuel Winslow Skate Mfg Co. has always paid a very large dividend on the stock but its affairs are so closely interwoven with those of Winslow & Co. that the appointment of receivers for that institution was necessary. The receivers are George S. Taft of Worcester, and Thomas N. Perkins of Boston. Col. Winslow started the banking business about seven years ago and inherited the skate manufacturing business, capitalized ait $50,000, from his father, the late ex-Mayor Samuel Winslow. Col. Winslow was several years ago prominent in the Republican polities of the State, being at one time chairman of the Republican state committee and later running for the nomination for lieutenant governor against ex-Gov. W. Murray Crane.
