, 1874-12-20
G]ose Of One Of the Celebrated Law
suits Of Chicago.
Uov B. T. Haddutk Got Possession ot tue
Hotel Property.
Weary Litigation by Which 1t
Was Recovered.
The Final Compromise

The old Metropolitan Hotel property, at tno
cornor of Randolph street and Fifth avenue mas
been the subject OF litigation for nearly twenty
yo,rs, This litigation has now finally been
brought to clono by tho property upon WHICH
tito hotel vas situated up to the tire OF oct. y
1871. laving boon vested entirely in Charles W.
s2eer. and tho payment to him by tue representa-
tires OF tile estate OF tho late B. T. Hadduck OF
| the sum OF ST., ,003 as q compromise fo1 S4o'ooo
awarded to him by tho Superior Court OF COOK
| County, in clancery sitting.
In giving history of this litigation. ne nec-
| essarily giyo
HISTORY OF THE HOTEL
! itself and. as it WAS celebrated as being about
tia eariios: OF Chiccgos titst-claSs hotels such
history will provo acceptable to the genera! read
| or as vcl1 as the lawyer.
In 1854 and 1855. and previous thereto Isaac
| Speer was engaged in business as Matchmaker
| 1oyelo7. and sllversnath, in what was thon
pretty extensive way, in tho City OF ch'cago
haylpg storo at No. u Lake sIrcet, cast OF tNa
| FREMONT House lot. He had in his employ q
! clerk named benjamin T. Hlckox, between "aom
! rnd AIR. Speer the most intimate sna confidential
relations e1isted LII 1855 j: vas discovered tl=:
! this man. so trusted and conhdad IN, hau 1or
| considerable time been ......
| SYSTEMATICALLY pLuSpEnIya HIS EMPLOYER
His salnrv was stfiicon1 for his ordluary wants,
bu. not to enable him to indulge III oxtzaVagance.
or extraordinary luxures. In 1880 1t Was u's"
| covered that he had purchased from Mr. na1-
duck tho property thou Gnowo as Ino r.ansols 80
| Randolph and Wells Hlreets. for $50 ooo,-oue-
| fourth OF which was paid in cash, ant notes giT-
Gu for the balance. It was the fact Of 30 large
purchase having been made by Htsko1 taat suD-
seauent; led to tha discovery Of tAe aysseaaa'c
plundor Of his employer.
| No other ooutse was left to Mr.. Spee- than to
| try to reimburse himself for the losaes no haa
! sustained by getting sit.o 70 mud possossloH ot
tho property witch had boon oo'&'aea os
| Hci:ox.
| Before the transfer OF the title was made by
AIr. Hicko2, or by ud BROTHER OF some TGlatlFe,-
| some person OF tho same natNn 20 Vhom t'ls
property had bocn transferred, -. iAese1 t n.a
| begun to r2;so the then existing structure from
two stories to FIVE or six Bsor1oa, aud 70 otnor-
| wise enlarge it. 1t the time rne building "a3
completed 4. +. Hlckox had disappeared, era
the title WAS vested in one loan Nes!ey E'IAoa
It was agreed botxeeu 3ir. spser sad tho latter
that Speer should acquire tho tito by purchasing
Hickox's interea. for $4,000. and assume tue
mortgage to Hadduck. Tuis was dono aud tue
ttlo conveyed to Spear, subjecs to thc mortgage
| and. III addition to this mortgage OF SIS, 150 aud
interest, second mortgage Was placed upon tne 9
property for $40. .o03, tho smount to ho he pa'a
| to uickoz.
Mr.. speer At this time vas owner Of 60 feet on
Randolph street, by 100 fset Oh Wells streot.-D
| 1te1 W 1oo e.4s-: ....t,, ,F which
tho lot adjoln'ns " OF tuo .,,~.,oo ,,"a, ,fg
property vas sno'ess 20 'au ,1nenuantlv ,snuirs
mentioned. Mt. opeoi @ supeeYu.as Y,',ah In ,a.Is =
tie pcxs 20 1ect wost upon "!lcn ~ ,a.,er luane
mortgage to secure PAT o. @ .ne u lad aso becn
The .2ss ~ fses OF taa "ess ~ o1 ~ a5o "a Tahh
purchased by Mr. spser IRON s!.as .oe.r. ~,
Hcko1 g'sus anortea:e 10 s:,, Eopo w. ss: r 49,
purchase money. gis. opees suuae qi ~, -; tth;o
chased 70 1cas ss'u iurteot "es5' "uu n soo ~
property 70 purchased ne o.ecseo ouAa'os ~
complete sAe hosea "
The CONDITION OF AffAins .:.;
whan Mr. specf acquired THO t'tio ""n tA1o ~ :
After having acquired tue tlsie. ou'slas u -
unpaid purchase money, Mc- Speaf, ouslnS i2o'
.ud 1886, before the compilation OF tne nul'u.
iuss which were completed ana occun;oa @ on III .hs
1st Of July, 1856, had expended St4,9ov ~ .ns
buildings. Improvements, 1opars, anu ll.e!oS6 ..
, the Ietrofo!isan Hotel In MaY. !eoo, oua M -, o.
the notes given by f4icko1 to Haddnck 1of ~ ~
became due aad was puld as also ":s tue IN.
] tcress tho other notes. Iis. speef pe4ng tne'
: | greatly in need OF money, 1t WAS "gIeea
, | between him and Hadduci fhas tho hots
, | for SC,25o, which haa been pHla. aaoala 81 a.
be again put in circulation Tor tho nonent Q, NJ
! Speer, With the understanding tAas II sauuao ~,