Little Falls transcript. [volume] (Little Falls, Morrison County, Minn.) 1876-1894, 1878-10-31
CHAS. ETHERIDGEsA SUPPOSED FU-
GITIVE And DEFAULTER.

From the st. Paul Daily Globe. #s2a
A startling but quiet rumor was whispered
shout yesterday afternoon, involving the char
acter and conduct Of Chas. Etheridge, one OF
our prominent and well known citizens. The
charge was soserious that unlike ordinary rumo,
the tale spread slowly, as parties hearing it were
SO shocked that they were 10th to repeat it,
trusting that some explanation would still be
made which would clear up the cloud. The
first tangible shape to the reported downfall
and disgrace of one who has hitherto stood
high in this community.
MIR. ETHERIDaE'ss BUSINESS. ~
For some ten Or fifteen years Chas. Etheridge
has been engaged in the insurance business in
this city. Purchasing we'll established fire
agency when he came to st. Paul he repre-
sented some of the best companies in the coun.
try. He was associated with different partners
his last partner being E. E. Hughson, under
the firm name Of Etheridge l. Hughson. Their
agency was largely fire, thou:h they also had
the Equitable Life Assurance society. indie
pendent of his insurance business, Mr.. Eth.
eridge had loan agency in which the
firm was not interested. He acted a. loan
agent for the Mercantile Trust Co., of New
York, and also for the Equitable company,
which has loan department.. Some three OF
four years ago his loan business assumed such
proportions that the partnership was dissolved,
Mr.. Hughson taking the fire agency and Mr.
Etheridge the Equitable life and the two loan
agencies. More recently he has added one OF
two fire companies to his agency, but his chief
business was as indicated above.
CLOUD
For some months past the Mercantile Trust
apany has noted marked delay and derelic-
zion in the payment OF interest due from par
ties to whom they had made loans through MIR.
Etheridge. Mortgages were sent forward to
Mr.. Etheridge to be foreclosed for non-payment
of interest, but proceedings were not COM
menced. The Trust company becoming sus-
picious that all was not right sent their agent,
NJ. b. McMahon, of New York, to st. Paul Co
investigate. MIR. McMahon reached the city
last Monday: and, without registering. proceed
ed to make some quiet inquiries. He finally
called upon Mr.. Etheridge, and was received
with an outward show of cordiality, which
subsequent Developments show must have been
delusion and snare. He found large
bundle uf mortgages in Mr. Ether
idge's Office which had been returned
for forclosere, as already stated
and asked why they were so held. Mr.. Ether
idge, with show Of plausibility, stated that
times were hard and he thought it better to be
easy with borro"er s, as the property was ample
security. This seemed fair, but Mr.. Mem ahOn
took few names of supposed delinquents, and
calling upon some of them, was confronted
with receipts which we're signed by Mr.. Ether
idge. Some Of these receipts dated as far back
the home Office. Up to this time
MIR. Etheridse had been going about
with MIR. McMahon. showing him property on
which loans had been made, etc., but he evi-
IDENTIFY decided that the game was up when the
interest receipts were developed, and On
Wednesday evening he left the city.
HIS PROCEEDINGS BEFORE LEAVING.
Mr.. Ether'dge kept a small account at the
Second National bank, occasionally having
small loans on his Individual account.
He also occasionally desired to cash
large drafts on the Trust companys
having offered drafts to as larg an amount, a
$l5.OU0. Mr.. Edgerton, the president of the
bank, declined to cash any such drafts, but
readily passed small drafts. On the 22d inst
he presented draft for $3.50 ON the Trust com.
pany which was cashed by the bank. On the
next day, the 23d. he called at the Second Ma
tional and said he would take up couple OF
small notes he had there aggregating less than
:S400. This was done, and some tax title col.
laterals which he had deposited were returned te
him. The same day he presented another draft
at the Second National FIR $500, which was
also cashrd. Both Of these drafts were pasSeu
upon the bank without Mr.. Edgerton's knowl
edge, which accounts for the surrender Of tbs
collateral held by the bank.
Yesterday morning telegram from Ne.'
York notified the Second National that pay
ment on the $3.50 draft had been re
fused. Mr.. Edgerton took in the situation
in an instant, and with great shire dness be
decided to act promptly. He accordingly at
tached his office and household furniture, ant
also his horse and carriage, which were a
Judd's stable. Shortly before noon yesterla,
farmer named Mcknight, living twelve mile
out in Dakota county, came into the city Will
a written order for the horse and carriage to b.
taken to the country for keeping. Before Nc
knight could get across the bridge
attached. Mcknight acted very REASONABLE
when he was informed of the situation, ant
surrendered the property. As he had walked
in from his home: MIR. Edgerton kindly sen
him back in his own conveyance.
Mr.. Etheridge still has between 500 ant
5000 to his credit at the Second National bank
but there are, doubtless, checks out agains
this. One small check was presented yester
day, but payment was refused. The propert,
which the bank has secured more than cover
its loss.
OPERATIONS ELSEWHERE.
AS rumor stated that Mr.. Etheridge hat
cashed some large drafts at the Merchant
National, GLOBE reporter called there yester
day afternoon to ascertain the situation. Tn
information. They were not prepared to sa,
whether Mr.. Etheridge had fed O
not. He had presented some drafts
but they could not tell what loss would
be incurred by his transactions, or whether th,
amount would fall upon them or the Trus
Company. if it proved loss. They were il
telegraphic correspondence on the subject ane
could give no information at present. Out
side report places the drafts presented to tn
Merchants National at $4,000, but this i
quite likely to prove an exaggerated rumor
The GLOBE has no reliable information tina
that was the sum obtained.
OTHER PICKINGS.
Mr.. Etherldge had interest collections fer tn
Equitable Loan company, payable in New
York, Nov. l, ar bunting to nearly $4,000.
is possible that he may have collected that snn
as it would only have been day or two in ad
vance of the time necessary to remit, to hav
it reach New York by the 1st.
this should prove to be the case, he ma,
have hived $50,U00 previous to his departure
morrow, and the situation with that compan,
will then be ascertained.
WON'T INTERVIEW.
A GLOBE reporter called upon Mr.. McMaht,r
asst evening, hut he declined to say anythire
In fact, he said he had not sufficiently investi
gated to be in position to say anything.
MISCELLANEOUS.
What direction the fugitive took is no
known, but it is suspected that be is in Canad;
and seeking passage for some foreign port. AL
that is positively known is that he has not beer
seen in the city since Wednesday night.
His residence at % FarrinSt Ton avenue is in
charge Of servant. His wife went to Massa-
chusetts some months ago with the intention
of remaining a~year. His homestead is en-.
numbered by a mortgage of $500, held by the
Trust company for which he was agent.
There are various reports as to the cause of Mr.
Etheridge's downfall, but we give no currency
to them until an opportunity is given to verify
disprove them. He was not. to outward ap
pearances. a fast man, but on the contrary the
reverse. He was an active member of the
House of Hope, Knight Templar, and stood
we'll in every respect in the community.
The GLOBE this morning will convey intelli-
gence which will astonish the city, and great
regret will be felt that one SO trusted has
proven 50 unfaithful and dishonest.
IN FAVOR OF "A TRANSFER.
iIoa3 mn tho pronoeo1 7.u nj