Buffalo Courier, Sept. 21, 1888
The stoppage of the Operation of the
Lackawanna & Pittsburg
A special from Angelica, N.Y., to the New York Evening World of Sept. 19 says: Poor unfortunate Allegany county, which was nigh ruined a year or two ago by the flight to Canada of Cashier J.E. Robinson, the hoary and wicked old executive officer of the Angelica National Bank, has again been shaken to its foundation by the collapse of the little Lackawanna & Pittsburg railroad, which runs across the rugged hills of the county between Wayland, on the Lackawanna road, and Olean, on the Erie. All the wheels have stopped running since the 10th inst., and there seems to be small prospect of resumption of traffic. The employees have not been paid for a long time. The people of the county lay all the blame for the collapse upon the shoulders of George D. Chapman, the receiver of the road.
Chapman came to Angelica eight years ago and startled the lumber village by the flamboyant style of his living. He ran a tally-ho coach and lived extravagantly in every way. He was a glib talker and great promiser, and everyone thought him an Austin Corbin in embryo. Among other extravagances he has kept an executive office in Wall street, New York, just as if his little ninety-one miles of road were a trunk line. He now offers to start the road if employees will accept one month’s wages in cash and another in scrip. The Allegany County Republican, in the course of a three-column wail over the situation, sums up the losses as follows:
Over $35,000 worthless paper in a Friendship bank, and a clean thousand that its president paid. About $19,000 in worthless paper in the defunct Angelica bank. Certain of our citizens muleted over $20,000. Over $10,000 due our machine shop company and checks dishonored with no money on deposit. Debts unpaid on every hand - thousands upon thousands. Over $2,000 for taxes, due and unpaid. Over $409,000 due employees.