The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-08-22
HE MAKES A STATEMENT.
The Story Of Col. OlmStead'S Eltan-
clements Coming Out.

He Goes Over His Affairs Oonhden-
TALLY With Two of His Friends.
The Barnard Estate for Which He
Was Trustee Stated to Have Been
Used Up and an Impression That
the Greater Part of the Bryan Es-
tate is Gone-The Sims Estate Said
to Be Intact-CoI. Olmstead's Resig-
nation as Elder of His Church and
as President of the Veterans.
So far it has been possible to obtain
very little authentic information in re
gard 70 the affairs of Col Charles II.
Olmstead. The most of the talk concern
ing his financial entanglements has been
merely hearsay. Col. Olmstead's mental
condition is understood to have been
such since his return to Savannah that
until now it has been impossible to obtain
from him any connected and creditable
statement of his affairs. Two Of his
friends saw him at Beaulieu night before
last The MORNING NEWS was furnished
yesterday the following:
Monday evening Col Olmstead, at his
home, made a detailed statement Of his
affairs TO two of his friends. showing
prepared as soon as his physical and men
tai condition permitted. Col. Olmstead
returned TO the city as soon as his reason
asserted itself with the purpose of max
ing a full and exact statement, and he
has done this at the earliest practicable
moment for the information Of those in
terested All Of the parties interested
prefer that this statement be not given
to the public, and it is therefore not fur
niShed for publication. -
To those who have seen Col. Olmstead
he has said little except to reproach him
self. Except that which he made night
before last he has made no intelligent
statement of the condition of his affairs
and of the various estates he represented.
AN ESTATE USED Up.
One of the estates Of which he had
charge as trustee was that of w. J. Barn
ard and children of Marietta. This trust
was created for Mr.. Barnard and his
children by close friend, and consisted
of $4,000, divided between state of Geor-
gia ~ per cent. and tripartite bonds. In
this charge Col. Olmstead was not re-
quired to give any bond. 1t is understood
that these bonds have all been used up.
The only thing that Col. Olmstead
could use from the trust estates, or those
for which he was the guardian, were the
negotiable bonds and Of these, SO far as
there is any record in the court Of ordin-
airy, he had charge of about $50, 900 face
value, besides those mentioned above, of
which there is no record in the court of
ordinary, as no bond was required of the
trustee. OF what others he had charge,
as agent for certain estates, is
not known. OF the amount Just
mentioned $4,000 belonged to the estate
of Harcourt Brigham, minor, and about
S14,0 900 to the property of Florence A
LgVsTra wi An kn
& lardian There is an impression that
the greater part Of the latter estate has
been used up.
The Sims estate, of which there were
three heirs, which was mentioned in yes
terday's MORNING News, consists only of
a house and lot in Griffin and lot of Cen
trail railroad debentures. This estate is
stated to be intact.
1t has been rumored for several days
that an effort was being made to raise
among Col Olmsteads friends a fund to
make good any shortages. but upon in
quiry this was found not TO be fact.
RESIGNED FROM HIS OFFICES.
Col. Olmstead's resignation as president
of the Confederate Veterans Association
is in the hands of the secretary. His
resignation from the Georgia Historical
Society, of which he was one of the curators
and also as a mem Der Of the board of man
ayers OF the Telfair Academy, it is under
stood, will be acted upon at the next
meeting. Col Olmstead had been for
years chairman of the finance committee
of the society. He was lead
ing member of the Independent Presby-
terrain church, the eldership of which he
has resigned. 1t was in this connection
that DR.. Dripps returned to Savannah
from Connecticut, where he went on his
vacation. DR.. Dripps had an interview
with Col. Olmstead while here. and re-
turned north yesterday to Join his family
Col Olmsteads resignation from the
eldership also suspends him from com
muning with the church.