Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1889-07-05
A GREAT CONSPIRACY.
Additional Facts About the Fidelity Bank
Fanur--The Standard on Company.

Eallura-Nne standard OlA company
CHICAGO, July THE Harper whea
deal was only an incident to the men whit
really manipulated it; in order 10 work 4
larger deal they blew up the Fidelity bub
bic and then prickad it" Such is the con
clusiou reached by a conservative business
man tho has been investigating the recen
Developments and inside history of the ia
mons corner. The presence TO day in Chi
c,vo of VIM. B. Burnett, in consultation
with the creditors OF O. j. Kershaw & Co.
and officers Of the American Exchange Ma
tonai Bank, was 10 a certain extent cor
roboration of the statement.
Mr. Burnett was United States District
Attorney Of Cincinnati during the Fidelity
prosecution, and is now attorney for the
banks receiver. The business man referred
To- said the scheme of the principals in the
great wheat corner was no more or less than
the transfer OF the American Cotton Seed
OH Trust to the Standard Oil Company.
This was the motive which puzzled Chi
cago snd the entire country. 1t shows
wners the immense profit made by the
collapse of the corner went. II explains
why Harper and Hopkins were sacrificed.
At the time the deal began, IN
March. 1887. the headquarters Of the
Cotton Seed Oil Trust was In Cincinnati.
That is why that city was selected as
tbe base OF operations. The STANDARD OH
COMPANY inaugurated the deal, and It's
object was TO involve the principle holders
of the Cotton Seed Oil Trust certificates.
Tohn Y. Lewis. head Of the Cotton Seed
| OH Trust, was the first victim selected IL
was easy 10 induce Lewis and others to gu
I INTO a desl backed by the Fidelity Bank,
and Lewis, followed by other members OF
the Cotton Seed OIL Trust, went into the
corner heavily. When Lewis and his
friends we're sufficiently loaded up with
wheat. the Standard Oil men set about to
esuss "A break. Wheat had gone from "a
cents to 90 cents and was still advancing.
The bullish confidence Of the country
had come TO Harper's ard and was hoist
ing the price in every market. Country
bnvers we're pouring their orders into
Chicago and there were no besrs on the
Board of T-ade here. The Standard peO-
ple realized that to break the market
something phenomenal must happen.
Their private knowledge OF Harper's use
olthe Fidelity Bank funds supplied them
with the means they desired. Harper had
zone into the deal originally as the agent
Of the Standard and Cotton SEED Trust,
and his principals proceeded to cut his
| throat
An ANONYMOUS circular was issued June
l u 1S-- and distributed throughout Ohio.
Southeastern Indiana and Northern Ken
I tuckv from which localities Harper was
drawing his money By means Of the 1 per
cent allowed Oy the Fidelity on monthly
/ balances. stating that the Fidelity was 10
bad shape. or course this became know
and at tue same time the conspirators sold
wheat heavily through Chicago brokers,
who have not as yet figured IN the deal
June I the wheat corner broke, and whea'
If-ll Isl cents in three hours. June 2l th'
IComptroller Of the Currency closed the
Fidelity and the ruin was com
plete. There were demands Of $50,
900 in cash from Chicago on Lewis
which he had 70 meet promptly, be
sides note Of $500, 600 10 Wiltshire, Eek
ert * Co, which had been discounted b.
the Fidelity The Standard people die
what they could 20 depress Lewis credit
and he was forced 20 the wall. He dis
posed of large block Of Cotton Seed Oi
rrus. stock. which was bought by th'
STANDARD people He was deposed from
the Presidency, and Fisgler, the STANDARD
OIL man. elected to the place, and th'
headquarters Of the COttOn-seed Oil Trust
were removed from Cincinnati to New
York. At first these headquarters vert
| in a building next 70 the Standard offices
bat later they were removed 10 No. Al
| Broadway, into building owned
by the Standard people Lewi
now lives in Boston, but has al
office in Wall street, New York, and al
though il has been given out that be Ii
managing a small no el in Boston, and il
not worth any thing, such is not the case
He hss some money left and is not in dan
ger Of dying Of starvation. Although
Lewis had been whip-sawed he will b'
made a defendant IN the suit soon 10 b
\ brought. The men the prosecution ar'
after, Of course, are the Standard OIL peO
pie, and 1t will not be at all surprising Il
some of them figure as defendants TIT
books Of Wiltshire, Eckert & Co. and Johr
W Hoyt in Cincinnati, though showing
that accounts wherein millions OF dOllari
we're represented were kept with men dis
guised under various letters OF the alpha
bet, will show enough to enable the prose
cution to make out good case.