The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-02-04
GnABLE's SIDE OF THE STORY
The Promoter Gives His Schemes a
Free Newspaper Puff.


Free Newspaper Puff.
ST. Louis. Feb. S.-Francis Cradle, TO
whom William j. Quinlan, Jr., cashier of
the Chemical National Bank of New
York, loaned $S93,OO of the banks money,
in consequence of which Mr.. Quinlan saw
fit to resign his position as cashier, is now
in this city
Mr.. and Mrs. Cradle and Mrs. b. Nj.
Latimer, the latter the mother of Mrs.
Cradle, are occupying a magnificent suite
of rooms at the Planters Hotel. The par
ty arrived here on Tuesday, Feb. /. and
have been quietly attending to their own
affairs and inaccessible to the represen-
tatives of the local press.
The CRADLES are registered from New
York city and Mrs. Latimer from New
Orleans. The length of their stay is in
definite.
Mr. Cradle was engaged to-day in pre-
pairing a written statement of the trans
action for publication at the request of a
representative of the Associated Press,
which he gave out this afternoon. Aside
from his written statement he would say
nothing.
II have the deepst pain and regret at
the resignation of William j. Quinlan,
Jr., cashier of the Chemical National
Bank of New York, said Mr.. Cradle to-
day. He has been my friend for twenty
years and l have been depositer at the
Chemical Bank for more than six years
past. My intimate business relations
with him during this period have always
been of the most pleasant character 1t
seems unnecessary for me 70 say to any
one familiar with Mr.. Quinlan's sterling
integrity that he has never prohted one
cent from any of my business transac-
tions with him.
zone year ago my obligations to the
bank were $4,000, and six months ago
had paid up every dollar. The present
Indebtedness has been incurred since that
time. ] never knew nor have / ever
heard of the Mr. Silver mentioned in the
dispatches as borrowing from the bank,
nor is he or has ever been connected with
me in any way.
"Mr Williams, the president of the
Chemical National Bank, has been
stockholder for several years in one OF the
town site companies / organized and has
expressed his complete satisfaction with
his investment
"The work have been doing is that
OF opening a new country, stretching for
500 miles along the Burlington line begin
ming at Alliance, Neb., and ending at Bill
lings, Mont, and including the branch
line of 100 miles through the Black hills
to Deadwood, Only those who have had
experience in building up towns and viii
lagos have any idea of the enormous cost.
Their are forty-two towns I'm our terri
tory. / have built about 800 miles of
canals and laterals for irrigation and pub
lie purposes and large number OF stor-
age reservoirs tributary to these towns,
and have thereby opened up thousands Of
acres for settlement and established farm
ing communities of many homes 1 have
followed the plan on which Greely, Colo,
was built up, where farm land is worth
$50 TO 800 per acre
From the day the Union Hill Company
and the Edgemont and Union Hill Smelt-
ing Companies were organized work has
never ceased. These united companies
own in all more than 200 miles near Dead
wood and the Homestake, smelter and
STAN mill completed, and another stamp
mill and smelter in process of construction
Thousands Of feet of development work
cost of hundreds of thousands of dollars.
l believe the mines, when fully developed
and worked will prove of the richest pay
ing properties in the United States.
Nearly every stockhoder In each of the
companies has been out TO see the proper
ties, either before or after investing, and
there never has been doubt expressed as
to the value of the property, but on the
contrary in their many personal letters to
me and letters to home newspapers have
expressed their complete satisfac tion
Many of our stockholders made several
trips during the progress Of the work up to
the present time and continued TO express
themselves as satisfied. AT least six
among the best mining experts in the
United States have made most favorable
reports.
I'm all Of the foregoing work 1 have