Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1893-11-02
4 rREAcHERous EMpLoYE.

A TREAcHERoUs EMPLoYE.
Tho Rainwater- Bradford Hat Co., . Well
Kuown st. Louis House, Wrecked by m
Embexzllng Cashier-Taken In NJ m
Onicc Boy at Three Dollars . Week, Ele
waited Step by Step tn Cashier and Score
tary, Trusted, and Then Robs and Ruins
His Friends and Benefactors.
ST. LOUIS, Oct. 27.-Louis j. Silva,
the trusted cashier and secretary OF
the Rainwater-Bradford Hat Co., is a
defaulter to an extent exceeding $780,.
900, and detectives are searching for
him.
The NEUTRALITY-SUSPICIOUS. Hat Co. has
failed in business as result of this gi.
gantic embczzlement, and its affairs
have been turned over to Christopher
P. Ellerbee as assignee.
Behind these proceedings there is a
story that will be more than a nine
days sensation in the commercial
worlc. c. c. Rainwater, the head of
the firm bankrupted by an arch en-
bezzler, is known wherever st. Louis
commerce has spread. Further than
that his reputation as pushing,
active, enterprising citizen is known
throughout the financial and railroad
world.
It is to the multiplicity Of Maj. Rain
waters engagements outside of his hat
business. which had grown to $780,
600 year, and the demands upon his
time consequent upon their Importance
that his present misfortune may be at
tributed. Merchants Bridge and
Merchants Terminal affairs not only
required close application. but neces-
sitated frequent absences from the
city. He has always been considered
a close and secretive man, given to
strong likes and dislikes, as men of
positive character always are.
To this trust he owes his ruin and
impoverishment at the end of half
century of ceaseless toll. He trusted
Louis j. Silva as he would have trusted
himself. He had reared him in bust
ness, and elevated him step by step
from an Office boy at 90 per week to
cashier and secretary of a concern do
ing $500, 900 business annually.
Strange as it may seem, Mr.. Rain
water was the last man in st. Louis to
learn that his handsome, popular cashier
was known to all the touts and gam
blers at the fair grounds and East st.
Louis race tracks as a 'high roller"
and to several brokers on Third street
as daring and dashing speculator in
cereals and stocks. He led, to a GER
tain extent, double life. Inveterate
gambler as he was down town, out at
his lovely home on Gates avenue, in
Cabanne place, he was leader in So
ciety and model domestic man.
All roonoVy To no G,.y,,
received by him. He duly entered the
receipts into the cash book, but appro-
priated the funds and gave no credit
on the ledgers to the customers
1t was in May that Mr.. Rainwater
began to notice that collections were
unusually slow. He spoke to Silva,
who explained that times were little
dull in the country. Then he would
add: "These people say that they
have no money. 1 will enter suit if
you say So"
Mr.. Rainwater said mo" Then the
financial stringency set in in earnest.
Eastern manufacturers who looked on
characterization as gilt-edged, were
pressed for money, and they wrote to
demand it. Country collections were
reported slower than ever. In despair
Mr.. Rainwater would order suits en-
tered in certain cases. Strangely
enough before the attorney could act.
Mr.. Silva would notify Mr.. Rainwater
that the delinquent creditor had sud-
denly come forward and made settle
ment- It was not until late in August
or early in September that Mr.. Rain
waters suspicious were aroused.
One day while in New York city with
a st. Louis gentleman on business of
mutual interest he received a couple of
kilograms which, contrary to his GUS
He seemed much worried. The next
was bad. He turned to his friend and
said:
''I'm afraid that my bookkeeper has
been robbing me-"
sYou are afraid? Do you believe it?''
81 don't want to. would have trust
ed that man to the end of the world.
Experts at work on the books report
things in bad way"
The next day the two friends came
home. Last Tuesday morning he met
his friend, and said in a despairing
tone:a
'That scoundre1 has robbed me of
over 500, 200. How much more I can't
tell. It may be s125, 900 or $3.50, 900, or
it may be $175, OO0-there is no telling"
He then admitted that over three
weeks ago he charged Silva with his
embezzlement The cashier broke
down and pleaded miserably for mercy,
and offered to turn over everything he
had. He made transfers of all the
property he owns. ''He seems to have
but investigation shows that every foot
and every brick of it is heavily encum-
bered, and our equities in it, all told,
will not exceed $1,000"
The transfers had been made out
and signed by him, but lacked his
wife's signature. They were sent out
to her, but she knew nothing of his af-
fairs, and refused to append her name
to the paper that made her a pauper.
On Tuesday night last Attorney
Overall, with a notary, met Silva, in
the presence of his wife. He had told
her some story that the firm was in
trouble, and that her signature to the
deeds was necessary. as a matter OF
form, to tide them over, or some story
like that. At any rate, she signed the
documents.
Simon L. Boogher, one of the MEM
beers Of the firm, about a year ago with
drew from the firm under peculiar cir
cumstances.
Major. he is reported to have said,
s'you are not giving this company
enough of your time. You ought to be