From the National Republican (Washington DC), 1/18/1876, p. 1, c. 6
RICHMOND, Jan. 17. – The Tredegar Company’s iron works have suspended. From four to six hundred operatives are ousted. The liabilities are not yet known. A statement is being prepared.
[column 8 of the same paper:]
THE RICHMOND FAILURE.
The Cause of the Suspension.
RICHMOND, VA., Jan. 17. – Gen. Joseph R. Anderson, president of the Tredegar Iron Company, makes a brief statement to the effect that the company having lost largely by the failure of other parties during the panic of 1873 has been compelled, in consequence of these losses and continued depression of the iron trade, to suspend payment. It is hoped, however, that the suspension will be temporary. Before the panic the company was worth a million and a half dollars over its liabilities. After the panic of 1873 the company, owing to large amounts due by the Chesapeake and Ohio and New York, Oswego and Midland railroads, became embarrassed and was granted an extension, the creditors being secured by deeds of trust on the company’s property. It is believed their liabilities, not covered by said deeds, will not exceed