Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-03-01
TrustfuI and C0nGoiag women swim

TrustfuI and COnG"ing women sWis-
New Y1nK, February 28.-Gilbert L.
Crowell wastfustee OF the properly of Mrs
Cornelius A. Atwell, Mics CathariDe C. Tai.
man and Caroline Talman, of Paterson, N
J., which announced 10 over 100000. He
invested the money in the Empire Mining
Company. The mire go far has proved
failure, and the money is gone. Twenty
years ago Mr.. Crowell was cashier Of the
Peoples Bank, in Canal street. The close
confinement of the bank impaired his health
and in 1865 he resigned his position, and
took charge of the Talman estate. The prop
erty belonged TO the three sislerss named
above. Mr.. CroWell was constituted their
sgeni, and givea power OF attorney by the
sisters ThencefoIwsTd they relied im-
plicilly on ihim in all business trans.
actions. He proved himself to be good
business msn. In 1858 the sisters wsnt to
Europe, ands Mr.. Crowell accompanied them
as business agent. The original securities
turned over to Mr.. Crowell were gradually
increased until recently, when Mr.. Crowell
reported that there was in his possession Sc
curities worth nearly s650,000. During the
summer OF 1879 Mr.. Crowell was offered
large amount Of the stock of the Empire
Silver Mining Company. The mine is sit
uated at Park City, Usah. 1t is short dis
tduCc lTOul the IdmCuS OuldTlO WHICH
has paid more than S., 100000 in dividend.
Mr.. Crowell believed that the Empire was
on the same lead as the Ontario. He went
10 Park City, and made a thorough exami
nation of the mine. When he returned
East he induced many persons to invest IN
the stock. He purchased several thousand
shares and was made president of the COM
pany.
1t was the old story. Water was struck
before the miners had gone far below the
surface. When The water was pdmped out
other delays occurred. There seemed 10 be
poor management. Some ore was finally got
OUT, aud expensive machinery was procured
10 reduce it. Then came the news that the
works had taken fire and the hosting ma
chinery rendered worthless. The Eastern
stockholders then became spprehensive. Mr..
Crowelh and two stockholders were sent out
10 examine the premises. They found the
mine pretty we'll flied with water, and it
was resolved TO levy an sssf ssment on the
stock, and use the proceeds once more 10
place the mine in working order. This was
done. Many of the stockholders paid the
ssseesment, but q considerable number did
not do so.
To get the mine into proper shape GER
tain amount OF money was absolutely needed
and Mr.. Crowell made up the deficiency,
| trusting to the future output Of the mine 10
repay him. He acted with energy. The
former superintendent Was dismissed and a
new one put in charge. But the expenses of
working the mine we're heavy. The veins
that We're struck proved to be illusory, and
most of the ore extracted did not pay the
cost of reducing. The end came about a
fortnight ago. Mr.. CroWell awoke 10 the
reality that he had used up all his own
estate, amounting originally TO about $685.
| 600; had appropriated trust funds 10 the
amount OF SG0l 900, and had induced rela
lives and friends to indorse his note. TO the ex-
tent of S4S, 200. He called together few rela-
tives and friends and told them Just how the
m after stood. He made an assignment 10
Joseph Parker, of this city, who lives at
Arlington, n. j and Edward Allaire, OF
| RedbaDk, N. j. The assets of Mr.. Crowell
consist of a house in this city and real estate
at Arlington. He values The property al
| 5000, but the appraisers think it only
worth 5000, and say that it is mortgsged
| for is full value. The trust funds taken BY
| Mr.. Crowsll were owned as follows:
Mrs. CorDelia A Atwell S213 OC(
Miss Caroline Taman ACKNOWLEDGMENT. s53 00(
Miss Catherine Tslman- IS OOt
Tetal.-...-.. .s60l OCT
In addition to this, Mr.. Crow borrowed
from Miss Caroline Talman $4,000, which
he secured TO her by mortgage on his rea
estate. The following amounts are owed by
Crowell 90 notes given by him, and which
ara Endorsed by various persons, who are
good for the respective sums:
Cornelia OOt
DIT j. Marion Sims 6,2Oi
Bank or the Republic. Coz
Bank OF North Adams MassJ ZOO
Total. 2Ot
Ii the figures which he gives sre correct
| Mr.. Crowell has sunk 10 the Empire Mine
in a little more than three years, the cum Of
S774, 200. In addition to his real estate Mr.
Crowell possesses $780, 100 shares of mining
stock, Including 10000 shares Of the Empire
Mine. 1t is difficult to say what are the
valnes of these shares. Some are alma
worthless; if sold to day they would proba
bly, bring only fraction of WHIST they cost.
! Charles F. Hunter, the president of the
Peoples Bank, with which Mr. Crowell for
many years was connected, says his bank
/ will not lose anything by the failure. "Mr
Crowell," he added, "owes u, about $1,000,
all of which is secured. Tae security is in
notes of responsible persons, no Empire min.
ing stock"-wiih a smile.
Your correspondent went TO the Arlington
last night to inquire into some features o.
| Mr.. Crowell's career, and also to secure i
possible, an explanation of his failure auC
the cause that led 10 it, from Mr.. Crowel
himself. In the latter effort he was frus
trated at the outset, by a report that Mr.
Crowell was seriously i'll, and under Ia,
care OF DR.. Skinner, of Belleville, who, j
was said, had given orders that no ont
should be admitted to him.
CRIMINAL PERSONAL.
ST. LOUIS, February ga Litch6elC