The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-03-01

street operations through u.s. He kept a
moderate account at our bank; such one
as | should expect a man of his
apparent means and styla of living to
keep. The news of his trouble came on us
like thunder-clap 1 had always con
integrity. l would never have suspected his
probity, and he comes of a first-class family
stock. l never saw his house in New Jersey,
but have supposed him to be living moder-
ately. He was man of good habits, and
his mode of living was correct, in all that
that implies. l suppose the Empire Mine
was the rock on which his fortune struck.
TMr Crowell was raised in our bank"
continued Mr.. Hunter, "and his record, so
far as | knew. was good one. When the
bank was organized in 1851, he came with us
as a clerk. Previously he had had some
clerical experience in mercantile business.
He was cashier for a short time-I think
about two or three years-working his way
up from his first clerkship After he be-
came cashier his health was poor, and we let
him 60 to Europe for year. On the way over
he met DR.. Sims, who performed an operation
on him which restored his health. After Mr..
Crowell had returned and resumed his duties
as cashier, Dr. Sims saw him again. and ad-
vised him. if he did not wish again to break
down his health, to take up some outdoor
business. 1t was under this advice that Mr..
Orowell left us and took an office in Wall
street" St 'f..-t [t,s
A friend of the Talman family, who has
been connected with many of their Invest
ments, said last evening: II was never con-
suited by the Misses Talman or other mem
bers of the family with regard to their in
vestments in Mr. Crowell's mining schemes
l suppose they knew that would not have
favored them. l have done great deal OF
business, and they never lost a cent through
my advice. But Mr. CroweH possessed their
6da,,oa. IN toI Ha
was man whort was likely
to win trust. He had good record
in the banking business; was quiet man,
who would let you carry on the most OF any
conversation with him. / estimate that the
Misses Talman and their relatives have lost
between $500, 900 and 5000 900 through Mr..
Crowel. Miss Catherine Talman loses about
$40, 900 and Miss Caroline's losses are in the
hundreds of thousands Then the House
man branch of the family has lost heavily.
Still they have considerable property left,
and l don't think any of them will be dis
tressed through their losses. l suppose Mr..
Crowell got their money in every way posi-
ble-tLrough their Endorsements OF his notes,
direct investments in the Empire mine, and
all other ways. 1t is great pity that Miss
Caroline Talman should lose so much. She
is an elderly lady whose life has been full of
charity and benevolence. Not long ago she
gave $100, 600 for a new Protestant Episcopal
K
STATEMENT oE FRIEND OF Mr.. cRowELL.
A friend of Mr.. Crowell said yesterday
that he believed that Mr. Crowell was man
who never talked about his business affairs,
and that consequently his own family was
still ignorance as to the extent of the failure.
The Empire Mining company had been a
complete failure from the start, and though
hoe f.,
years in the hope of finally finding paying
ore none had yet been struck. He thought
that a number of the original projectors of
the mind had abandoned it and left it on
hands of Mr. Crowell who had guaranteed it
against assessment, and then been Obliged to
advance capital not only for his own hold
ings but for those of others. He put the
amount advanced in this manner at $3.50, 900,
and said that great many of the absolutely
worthless mining stocks listed in the sched-
ule of assets had been taken, probably as col
laterals. Mr.. Cromwell holds claims, chiefly
notes against brokers, aggregating $3.50, 900,
the actual value of which does not exceed
So, 1000. The mine had practically been left
on Mr.. CromwelPs hands, and he had made
himself and family pennlless by continuing
to put into it all the money he could borrow,
after the shaft had heen sunk to the 500 foot
level, and nothing had been taken out.
lie ala not DelleVe tllat Mr.. CrOWell had lOSt
the money which he borrowed from his
friends and the trust funds of the Taman
estate, over which ne had complete control
under power of attorney, in specializing in
Wall street, but thought all of it had been put
into the hole in the ground out in Summit
county, Utah. The mine itself is worthless,
but the machinery and other personal prop
erty are valued at 5000 900, and to secure
this for the creditors Mr.. Parker the as
Signee will start for Utah on Wednesday,
He said further that he understood that all
the claims against the mining company do
not exceed $37 900, and $4,000 of this sum
is held by Mr.. Crowell. Its shares have
never been put on the market.