Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1889-11-30
a GIGANTIC

Citizens of Milwaukee and Chicagv
| Played for = Cool Million.
CHICAGO, Nov. 26.-Sensational develop
ments are following each other rapidly b
the ~miIlion-dollar swindle of Fredericksel
& Co., land agents. Tonight it is assertet
that thousands OF settlers, mainly Scan
~dinaviaHs, in Kansas, Iowa and othet
Western states who had, as they supposed
paid for their land and got deeds from
Fredericksen, have absolutely no it'll
TO it.
Dark hints are dropped that at the bacl
Of Fredericksen were parties in Milwaukee
who are the real benefciaries ofthe giganti,
frauds. Wholesale arrests OF clerks aut
other persons in Chicago who brazingly
acted as Frsdericksen's tools are talked Of
Tomorrow the states attorney and th,
chief sufferers will consult and organize
plan Of campaign. Eight or ten E .sterr
capitalists are said, by one authority
this evening. to have contributed $1O0,0 DOC
each to Fredericksen's Golfers, and $4,000
is thought to have been dropped by q
single victim out OF money in Milwaukee
and e. G.. Clumbstock is another Wisconsin
victim.
Mr.. Cowie wal heard declaring this
afternoon that Frede ricksen's arrest
would be secured if il were necessary to fol-
low him to the end OF the world. Cowie
says that 200 servant girls in Chicago in.
vested with Fredericksen from $50 to $500
each and have lost all. Among the Chi.
cago capitalists who are mentioned as hav.
ing had confidence iu Fredericksen are e.
G. Southworth, the steel man, and 8. w.
Rawson, the banker. Besides these the
losers are said to include the Fort Dear
born National bank and the Chicago Loan
& Trust comoany.
the victims of the swindle arrived this al
lernoon. He admits losing $3.50, 900 and
says hat Cashier Nunemacher of the Mer-
chants Exchange bank of Milwaukee, is
also a heavy loser, while C.,P. Hendricks,
q prominent real estate dealer of Milwau-
kee, has lost every cent he owned, and has
been forced to assign. a.
The Milwaukeeans believed the CiIica-
goans had investigated Fredricksen and
theref IRE did not themselves investig tie.
Rice says that Fredricksen's plan
was to get In option on q
tract OF land from some railroad
company, and representing that he owned
it, sell the farms to ignorant emigrants.
The abstracts were furnished by notaries
in ,Frederickssn' Office who certified to
anything. Some weeks ago Fredericksen
confessed to Nunemacher, Hendricks and
Rice that he had been issuing fraudulent
deeds and MORTGAGES, but the enormous
extent OF the deception was not disclosed.
The trio of capitalists let Frederickseu 60
ahead and form a sto OK company for half
a million dollars to carry on the business
and they themselves took most OF the
stock. Since then untold crookedness
had come to their ears and Fredricksen
had fed. Rice says a number OF large
dealers in railroad lands in Chicago held
Fredricksen's paper, but are keeping quiet
for fear it will iniure their credit. To-day
Fre~dricksen's ~bookkeeper, Goodwin. was
held in bonds of $4,000 until Saturday.
Mr.. Vaughn, who was appointed receiver
for the Fredricksens, asked to be dis
charged. He reported the assets in sight
less than 500.