Charles Eugene Selover, Sr.: From Niles Farm Boy To New York City Banker To San Franciso Importer - Part V

Charles Eugene Selover, Sr. Starts Over

Selover Milling Company of Moravia, Cayuga Co., New York

We left Charles Eugene Selover, Sr. in February 1894 facing legal liabilities arising from the failure of the Madison Square Bank, of which he was a Director and Assistant Cashier. Susan had given birth to their second son, William Ingalls Selover, on 17 August 1893, little more than a week after the collapse of the Bank. Charles was without a full-time job although he held corporate offices in several enterprises. The future must have loomed somewhat bleakly in Passaic, New Jersey. One thing Charles was not, however, was a quitter!

Susan and Charles began March 1894 with a visit to Cy and Philomena Straat at Cortland. The Selovers must have been planning to leave Passaic at that time because by May they were renting apartments at Moravia where Charles seemed determined to raise capital via the family milling company to once again raise himself by his bootstraps, assisted, of course, by investors. One not so charitable view appeared in an Elmira newspaper.

CHARLES E. SELOVER. He Comes to the Front with Another 'Great Enterprise.' NEW YORK, May 26.-Despite the recent heavy rains, water inundations, river deluges and such like, Charles E. Selover, once of a Cortland bank, later of the busted Elmira national bank, and still later of the collapsed Madison Avenue bank, of New York city, is still on earth, and though not in the water, is on the high tide. Mr. Selover now belongs at Moravia, N. Y., and he, of course, has a scheme. . . . Just now Mr. Selover appears to be interested in floating some shares of the Selover Milling Company. The following advertisement . . . appeared in . . . a New York paper. . . . 'We offer 1,500 shares, eight per cent, preferred stock at par, $100 per share, of the Selover Milling company, incorporated 1886, under New York state laws, Capital stock, $300,000. . . .' NEWS IN ELMIRA. The foregoing will be news to Elmirans. If the Selover Milling company is organized to grind out banks and bank charters it will be a novelty. The advertisement is a little lame, in not stating what kind of milling this company does. Between Moravia, Cortland, Elmira and New York Charles E. Selover is widely known.

-- Thomas Tryniski (scan), Roger Post (transcriber), Charles E. Selover. He Comes to the Front with Another "Great Enterprise" (Elmira Chemung Co., NY, Elmira Telegram, Sunday, 27 May 1894), Old Fulton New York Post Cards http://www.fultonhistory.com

The results of Charles's efforts to sell stock in the Selover Milling Company are not known. Charles did find time to make business and social visits to Cortland in June, August, and December of 1894. He and Susan visited the Cy and Philomena Straat family in October, and Susan spent several weeks with the Straats following Thanksgiving.

Cortland Wagon Company of Cortland, Cortland Co., New York

Charles was part of the Office Staff of the Cortland Wagon Company during some or all of 1895. His brother-in-law, F. Cyrus Straat, was Secretary of the operation and probably a significant shareholder. Possibly Cy was able to help Charles with employment although Charles may well have been a minor shareholder in the company from his earlier residence in Cortland. Quite probably Charles moved his family to Cortland in 1895 because a 40-mile daily commute from Moravia to Cortland and return by horse and buggy does not seem possible. One oblique reference to the Selovers and Straats in 1895 identifies both to be from Cortland at that time.

A rare glimpse of the athletic side of Charles's character was revealed by his participation in a charity baseball game in Cortland in August 1895. He was a member of the "East Siders" team with Cy Straat. Cy managed the only home run of the game, but the "East Siders" were beaten 32 to 20 by the "West Siders" of Main Street.

On 30 October 1895, the officers and employees of the Cortland Wagon Company enjoyed a dinner at the Messenger House in Cortland. Charles and Cy were both in attendance. Both men would be in attendance nearly a year later on 1 September 1896 when a banquet honoring Cy Straat was given by the Company at the Cortland House. Cy was largely severing his relationship (Secretary and Treasurer) with the Company to move to New York City and join the Mutual Loan Association of New York as Treasurer.

Cortland Omnibus & Cab Company of Cortland, Cortland Co., New York

Charles E. Selover, Sr. had maintained a relationship with the Cortland Omnibus & Cab Company from as early as August 1885 when he and W. H. Newton purchased majority ownership in the firm. Charles is known to have served as Treasurer of the Company in 1887, if not before; Vice President in 1893; and Secretary in 1894-1896. F. Cyrus Straat served as a Director of the Company in 1893 and likely other years as well. Despite what would be described as "a flourishing business" during some years of its existence, the business was closed by the Sheriff on 6 January 1896 for outstanding indebtedness of $18,945.17, including six notes held by the National Bank of Cortland. Business was described as "very dull" in the period preceding the foreclosure. Approximately 35 employees remained on the payroll when the foreclosure occurred.

Closure of Cortland Omnibus & Cab Company would have been another financial blow to Charles Selover. How much ownership he had in the Company at its closure is not known, but in profitable years, at least, Charles would have derived income from his stock, and in all years likely was compensated for serving as a corporate official.

Manufacturer of Specialties in New York City

Charles Selover mentioned in testimony some years later that he had engaged in manufacturing "specialties" in New York City at some point following his years in banking. The year 1896 seems to be the only time largely unaccounted for during this period of Charles's life and likely is when he went to New York City. This move may have been prompted by failure of the Cortland Omnibus &  Cab Company. What "specialties" Charles manufactured is not known, and the episode appears to be another failed enterprise, rarely mentioned and largely undocumented, in Charles's career.

As mentioned above, Charles was back in Cortland on 1 September 1896 to attend the banquet honoring Cy Straat of the Cortland Wagon Company. Charles also was in Moravia on 15 January 1897 when he was elected as a Director of the Selover Milling Company, of which his father was elected a Director and President. Subsequent events show that Charles likely had returned to Central New York from New York City by the end of 1896.

Charles Eugene Selover, Sr. Claws Back with the Melrose Woolen Company

The Melrose Woolen Company of Auburn, Cayuga Co., New York

Newspaper articles appearing in mid-April 1897 described incorporation of the Melrose Woolen Company, which intended to operate at Auburn by leasing the old Canoga Woolen Mill, recently vacated by the Rose Valley Woolen Company, for manufacture of "rose" blankets. Incorporation papers listed Directors David F. Wallace of Cortland; Charles E. Selover, formerly of Cortland; and Thomas A. Holland of Auburn. The Melrose Woolen Company was capitalized at $15,000 with Wallace as President, Selover as Vice President and Treasurer, and Holland as Secretary and Superintendent.

Charles Selover's family was living in Cortland at this time, but he was working in Auburn as the Melrose Woolen Company entered operation. On 9 May 1897, Charles traveled to Cortland to visit his family on a Sunday. It may be that Charles's family had remained in Cortland the entire time since their move there in 1895, even while he engaged in manufacturing specialties in New York City, supposed to have occurred in 1896.

Little appears about the operation of the Melrose Woolen Company during the summer of 1897. At the time of its formation, the Company claimed to be aiming to hire up to 100 workers and to produce 75,000 blankets per year. The accuracy of this projection is not known. If the projection was even partially accurate, large amounts of wool would be required as raw material. This probably explains why Charles applied for a seat on the Wool Exchange at Beach Street and West Broadway (today's Tribeca Park area) in Manhattan in early September 1897.

Rumors, a Robbery, and a Tramp

A rumor circulated in Elmira in early October 1897, and was printed in the local newspaper with the caveat that the report could not be verified, that Charles had been shot and killed while hunting in the Maine woods. It is entirely possible that Charles went hunting in Maine; however, he was very much alive and little more than a week later had reported the theft of 18 solid silver spoons from his residence at 188 North Street in Auburn. The burglary was seen as quite curious because the doors and windows were believed locked before the family retired, the apparent thief had eaten a chunk of roast beef and taken a plate of cold potatoes, and much additional silver and a plainly visible pocketbook containing money remained untouched. No more has been learned of the incident, but it does show that Charles had obtained a house in a respectable neighborhood and moved his family from Cortland to Auburn by October 1897.

All was quiet at the Selover residence until 22 April 1900 when a tramp demanded entry to the home. He was refused. The police were called but failed to find the offender.

Selover and Ingalls Families Domestic Events

William Selover, Jr., Charles's father of Moravia, accompanied by his second wife, Eliza M. Harris and son William Harris Selover visited Charles's family in Auburn on Friday, 26 November 1897, the day after Thanksgiving. Charles and his father surely would have discussed the activities of the Selover Milling Company of Moravia and the Melrose Woolen Company of Auburn in addition to social pleasantries. Things would have been looking pretty good to Charles by the end of 1897, after the down years following the collapse of the Madison Square Bank, although he still faced the outcome of ongoing litigation over the failure. As earlier mentioned, that remaining thorn in Charles's side would come to an end in April of 1898.

Back in the domestic realm, Mrs. David. H. Ingalls, Susan Ingalls Selover's sister-in-law from Cortland, returned home in early July 1898 after a stay at the Selover home in Auburn. This visit was followed the next month by the birth of Charles and Susan's third son, Newton Post Selover, which occurred on 19 August 1898 at Auburn. In October 1899, Charles and Susan and two of their children visited with Charles's father at Moravia over a Sunday. Mason Boynton Ingalls, Jr. and Brownell Bulkley of Cortland traveled to Auburn to visit Charles in early August 1900. Mason was a nephew of Susan.

Charles and Susan attended the 50th Wedding Anniversary celebration for Stilwell M. Benjamin and Harriet Amelia Eggleston at their home on West Court Street in Cortland on 1 October 1900. Susan and her sister, Philomena Ingalls Straat, took a turn presiding at the reception table. Cy Straat also was in attendance at the event. Charles and Susan remained in Cortland to celebrate the 11th Wedding Anniversary of Louise Benjamin and N. H. Waters the following night at the Waters residence.

Charles Selover apparently renewed his participation in Masonic activities, of which little had appeared in print since his earlier days at the National Bank of Cortland, by attending the Annual Conclave of Knights Templar of New York held in Geneva, Ontario Co., New York in late October 1898. Charles did not march in the parade with other members of the Cortland Commandery, however. Eighteen months later, Charles and Susan Selover attended the Annual Ball of the Cortland Commandery No. 50, Knights Templar, on 20 April 1900 at Taylor Hall in Cortland. Dr. Cassius E. Ingalls, Susan's brother, attended as well, accompanied by Susan's niece, Mrs. Eastman. Charles and Susan remained in Cortland for several days before returning home to Auburn.

Melrose Woolen Company Supplies Blankets for the Spanish-American War

The United States declared war against Spain on 25 April 1898, thus entering the Spanish-American War. The War created a large demand for goods to support the United States military forces. Among these goods were blankets for military personnel. The Melrose Woolen Company won a contract for 125,000 indigo-dyed wool blankets at $3.25 each less than a month after war was declared. On 17 June 1898 the Deputy Quartermaster-General at Philadelphia awarded the Melrose Woolen Company a contract for 6,000 blankets at $8.25 each with an option to obtain 3,000 more. This was followed by an order in late August 1898 for 70,000 additional wool blankets for the United States Marine Corps. These blankets were to weigh 3 pounds each, bear the imprint "U. S.," and be tastefully bordered in blue and gold. The Melrose Woolen Company was forced to lease the old Chamberlain Mills (aka Phoenix Mills and later Seneca Knitting Company) of Seneca Falls, Seneca Co., New York to provide additional manufacturing capacity in the face of these orders.

Military demand for goods apparently had not wound down immediately after the Spanish-American War because the Melrose Woolen Company had received an order for 25,000 Army blankets in November 1898. They also were producing 150,000 yards of Kersey uniform fabric and 150,000 yards of blouse flannel for the military at that time. Business must have been looking good for the Melrose Woolen Company in the summer of 1898!

David F. Wallace Sells His Stock in the Melrose Woolen Company

David F. Wallace, President of the Melrose Woolen Company, disposed of his interest in the company before September 1898. Wallace surely was reading the papers and had learned that hostilities in the Spanish-America War had ceased on 12 August. He likely had surmised that the military would be unlikely to continue placing large orders for blankets and uniform fabrics. It may be that Wallace wanted to get out while still on top.

Who purchased Wallace's stock is not clear. Vice President Charles Selover may have taken up at least part of these shares, as may have the company Superintendent, Thomas A. Holland. With the departure of David F. Wallace, it appears that Charles assumed the reins as President and continued his role as Treasurer. No further mention of a Melrose Woolen Company Vice President is found.

Production Problems and Litigation

Not everything at the Melrose Woolen Company had gone to plan in 1898. Litigation filed by the Company against the Jaeck Brothers Company of Philadelphia in December 1898, if not before, revealed that Jaeck had sold an inferior product as indigo dye to Melrose. The Jaeck product ran and faded badly with the result that the U.S. Army rejected much of Melrose's initial run of blankets although they later accepted them at a reduced price. Melrose completed the contract with its own dye and had no further problems but sued Jaeck to recover losses incurred.

The case was first scheduled for the Equity and Special Term of Supreme Court at Auburn in January 1899. Like most such proceedings, the lawsuit dragged on until October 1899 before finally being heard after legal maneuvering in September. The Melrose Woolen Company's case must not have been persuasive because the Jaeck Brothers Company ended up winning about $300 plus costs (for $1,700 of dye for which Melrose had already paid $412 on account) in their consolidated countersuit. The outcome of an Appellate Court appeal by Melrose more than a year later at Rochester, Monroe Co., New York is not known.

Production of Domestic Fabric

The last military order for blankets or fabric from the Melrose Woolen Company seems to have been
that placed in November 1898. The Company's potential product mix in 1899 was listed in a trade publication as Army blankets, woolen blankets, steamer rugs, dress goods, and clothing, but by the summer of 1900 production was primarily, if not solely, "ladies dress goods." The mill was stated to be operating full time. Another trade publication listed the Melrose Woolen Company still producing ladies' dress goods with Charles E. Selover as President and Treasurer in 1901.

Disaster Strikes Charles Eugene Selover, Sr. and the Melrose Woolen Company

Woolhouse Fire

The Woolhouse of the Melrose Woolen Company was located on Canoga Street some distance from their main operation at Old Canoga Mill off Washington Street. Early on the morning of 3 October 1900 fire mostly destroyed the building and its contents. Losses were estimated to be $30,000 to $40,000. Woolhouse contents included 28,000 pounds of wool, 1,000 blankets, several thousand pounds of materials, and some items of machinery. The financial impact of this fire on the Melrose Woolen Company, if uninsured, likely was catastrophic.

Trying To Recover

A financial notice appeared in mid-January 1901 stating that the Melrose Woolen Company was filing to increase its Capital Stock by $15,000. In light of later events, this appears to have been an attempt by Charles to raise money to get him through a rough patch and is reminiscent of Charles's effort back in 1894 to increase the capitalization of the Selover Milling Company in Moravia. The extent to which either effort garnered additional investment is not apparent.

Evidence of financial strain on the Selover family appeared on 5 March 1901 when the mortgage on Charles and Susan's house and lot at 39 Prospect Street in Cortland was subject to a court decree, obtained by the Cortland Savings Bank, mandating sale of the property at public auction on 30 March. The Selovers had owned the home since 1884. The house sold to an employee of the Savings Bank for only $2,500, which was considered an extremely low price for the property. The fact that Charles could not make his mortgage good is telling.

Auburn Blanket Company Moves In

Next we see an announcement in late June 1901 that a firm to be called the Auburn Blanket Company would take over plant and business of the Melrose Woolen Company. The Auburn Blanket Company was backed by wealthy capitalists of New York City and would be run by H. C. Nellis of Picqua, Miami Co., Ohio as President and General Manager. It is not clear that Charles Selover got anything for his stock, which may have been rendered worthless following the fire at the Woolhouse. The old Canoga Mill would now be leased to the Auburn Blanket Company by the National Bank of Auburn, which indicates that the Melrose Woolen Company's lease for the property had expired or was terminated.

Creditors Seek Relief

The debts incurred by the Melrose Woolen Company during its final year or more of operation would now come due. It is likely that Charles Selover, as President of the firm, and presumably a stockholder, would have been held liable to the extent allowed by law. On 12 August 1901, a Judgment of $164.50 was rendered against the Melrose Woolen Company in City Court in favor of the Auburn Telephone Company and an execution issued for seizure of property to be sold at auction. Just over one week later, a Judgment of $650.76 was rendered in City Court against Melrose in favor of Mrs. Laura E. Holland (widow of Thomas A. Holland, who had died that spring), Albert T. Holland, and Lewis Wendell for their separate claims. The Court issued executions under this Judgment as well. Goods under the first execution were sold on 9 September 1901 and purchased for $150 by the Melrose Woolen Company Bookkeeper, George W. Callaghan, presumably so that the Company could retrieve its goods for resale at a higher price elsewhere, unless Callaghan was buying on his own account. The fate of the goods seized under the Judgment for the Holland family and Mr. Wendell is unclear.

Charles Eugene Selover, Sr. Hits Bottom Again

Charles largely disappears from the newspapers in late 1901. His fortunes had ebbed as the year drew to a close. One ray of hope might have been the $500 left to him pursuant to the Will of his uncle, John D. Welty, admitted to probate ca. 3 August 1901. When Charles would actually receive his inheritance is not known.

A 1902 City Directory lists Charles's residence as 123 North Street, a move from 188 North Street that might indicate downsizing. The listing retains Charles's occupation as Melrose Woolen  Company, however. Perhaps he was still marketing residual merchandise. It is not apparent how Charles was managing to hang on during 1902. He may have had some small income from previous ventures, such as his interest in the Selover Milling Company, sufficient to feed his family.

To be continued. . . .