The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-11-26
4 MILLION DOLLAR FAILURE.
nuaxT g. GILLETTE OF wOoDBiNE,
KAN, FILES A DEED OF TRUST.
liz own. Cutilc In kansns' okia'
homa, the indian Territory
and Texas.

Abllene Kan, November PA failure
involving cattle interests throusnout uno
states was precipitated here today wneh
an attachment suit for $4,000 was 1lieu
against Grant c. Gillette OF WoouAse.
by the Gillespie Commission company VI
Kansas City. Gillette controls thousands
of cattle on the Southwest ranges ana MS
liabilities are over $1,000 100. II Is now
known that on Monday of last week dai-
lette made an assignment. A deed OF trust
of all his holdings was made to u. w.
NALL. Gillette at once departed LOT ieNas.
Naill however, refused to accept the trds-
teeship and the papers were not filed. Inc
condition of affairs became noissd abroad
and Gillette's creditors came upon MIN IN
droves. Representatives OF twenty-five
commission firms in Kansas City arrived
at Woodbine today on speciat train anu
Immediately began searching for Gillette
cattle. which range over Central and Wesr-
ern Kansas, Oklahoma, Indian Territory
and Texas How many there are none OF
the creditors seem to know. but 1t is stated
that there are about 5000 head on Gillette 6
Woodbine ranch Some idea of the, extent
of Gillette's liabilities Will be gained at the
county registers here where sl,OOo.ooo IS
recorded About one-third of 1t Is blanket
and unrealized mortgages. Whlie IL covers
cattle now being fed.
Most of G!llette's paper is thought To
have been held by Kansas City banks and
commission firms. but the firms represent
cd here now claim TO be amply protected.
The career of G.. G. Gillette has been OF
the skyrocket order. He is but 81 years
of age and his operations have startled
A. .n,ra diva ct
wears ago he lived on a mortgaged quar-
ter section of land near Woodbine. where
he began his cattle trade by feeding steers
for others. In this he was successful and
on this little ranch he laid the gr5lind-
work for u business that has enabled him
to handle over 100000 cattle within the
last three years. His methods were as
novel as they were daring. He bought
great droves of cattle in Texas and brought
them North for sale and feeding. Soon
he organized his celebrated cowboys, a
band composed of plansmen in his employ,
and they would ride about the country
III special and took a band Of musicians
with them. He even took them into last
ern cities. where they attracted much at
tention
Gillette is said to have recently taken
out S2S7 900 of life insurance and 100000
OF accident insurance.
Kansas City, Mo-, November 25,-The
failure Of G. G. Gillette, the cattleman,
OF Woodbine, Kan, was not generally
KNOWN in Kansas City at the close of the
business hours this evening, though it
WIS already known and had created slight
furry in financial circles at the stock yar!is.
1t is stated that over $500 GOO of Gillettes
paper is held in Kansas City, distr. butsd
among score or more of commission firms.
Through those firms some OF this paper had
reached the local lanks, but as TO the loca,
banks or the nMmSer of firms or banks in
volvei no definite information coulI be OBJ.
tanned.
Giiiette dad not go from Abilene to Texas
as supposed in Abilene. He was In Kansas
CIty Yesterday and met his creditors at a
MOTEL 1t is said to be the desire of The |
men who hold Gillstte's paper TO combine
tneir interests and carry the cattle until
they are in marketable condition. About
10000 head of Glllette's cattle are said
TO be in the feed lots on his own ranches |
in Kansas and In the hands of various feed |
ers in Kansas, Oklahoma. Indian Terri |
tory and Texas. 1t Is not known where |
Gillette went when he left Kansas City.