The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-02-04
BANK ExcAvAToRS TALK.
COMFORT ron aHB oHEMIOAL-sIL-
YER MEANS TO Par UP.

Year Ago and Paid 1t hit-JudEwents sus
Attachments AEnlnst Isoth OF Them-era'
bie,s In n. Lsuis-me Never Heard or silver
Francis Cato Cradle and John s. Silver, the
two promoters who succeeded in divorcing the
Chemical National Bank from a s393,OOC
chunk Of It's assets through Cashier William j
ouinlan, Jr., and with the aid Of strips OF paper
covered with pretty pictures in brown ink,
which they called collateral. and which were
accented as such by the cashier, were both
heard from yesterday. What they had to say
was intended to be reassuring. Though the
men were 1000 miles apart and each asserted
that he didn't know and never heard of the
other, tho statements had tho same ring.
Certainly" said Mr.. silver, II owe the
money to the bank and / intend TO pay II when
i can"
.'ono year ago my obligations TO tho bank
wero S1sO.O0O and six months ago I paid up
every dollar OF 1t. Tho present Indebtedness
has been incurred since that Tine said Mr..
Cradle.
The only difference, It win be noticed. is that
one is an implied and the other a positive prom.
Use to pay.
John S. Silver backed up his promise to pay
with moro paper with pictures and figures to
the amount of $64, 900 on 1t. He turned this
over to the bank and gravely assured President
George G. Williams that 1t was additional so.
curity for his loan and he would bring in three
times as much IL he had it.
what is itf' asked Mr.. Williams.
at is stock" said Mr.. Silver.
ut was stock in one Of his companies" said
Mr.. williams later, when he told about Mr..
silver's visit, ''and 1 fear 1t is no better than
that that Quinlan got" Mr.. Williams kept tho
paper, nevertheless.
Mr.. Silver discovered himself yesterday. He
visited the bank. The above is the substance
Of all he said. Mr.. Cradle was discovered. He
was at the Planters Hotel in 81. Louis, occupy
ing magnificent quarters. When he was dis.
covered he retired to his apartments and bolted
the door. stationing his Secretary outside to
ward of inquirers. His secretary described him.
self as Wade Chance. and some Of the people
out In st. Louis got the idea that he was q
Pinkcrton detective in disguise. This was be.
cause he received kilograms from New York in
cipher and once sent q reply addressed MI
man carefully. He is in it." MIR. Chance also
Better take Gspabie to Ne New S' YorE: nau
Mr.. Chance told the reporters in st. Louis that
half past I o'clocR' the statement was given
out: 1t was as follows:, -
Il have Just read via the deepest pain and re.
New e York; IL ' has i BEEN @y friend for f t%ont SF
Chemical Bank for six year,. past, and my in.
innate business. relations with him during
pleasant character. Il seems unnecessary
III. 9uinian's a.sFllns integrity that "i he
my business transactions with him. One year
ago my obligations to the bank were $1sO,OOO,
The present Indebtedness has been incurred
since That time; meyer knew. nor have l
sssr heSsd S os t 5eip Nj. a s deSfo s% of 9be SsnR H a sas
Is he now nor ever has he been connected with
any Of my interests in any way; Mr.; williams.
. stockholder for several years in ono of the
town site companies organized by me, and has
yestment. Tho work which 1 have been do
Ing for 500 miles along the Burlington line. BE-
100 miles through as6 the BACK Hills ii to DeadW We q.
ing up towns and villages have any idea Of the
enormous cost. There, are forty four towns in
ean iisFFii% sfeFals f6 aHT isr 9R1la seG snd 300 poW mile pu Of
volrs tributary 70 these towns. and have thereby
opened up thousands of acres for settlement a d
homes. have followed the same plan on WICK
Greeley; Col. %as built up, where farm land is
From the day the Union Hill Company and
nany E Werel orra aha in work hi ba, s ns9or se cSni-
These united companies own in all over 200
mining claims in Deadwood and Homestead. a
ulh btnihp min SoLhpiCIou, dnu dHOIuOT
ton. Thousands Of feet Of development work
h has Rssn Done Of tS S1 .assi p of sollsrs st tho I 6 s1is Ss
the mines when fully developed and worked on
2 large scale will prove, one Of the richest pay
ing properties in the United States. Nearly
every stakeholder in each Of the companies has
been out to sec the properties, either before or
expressed as to the value: OF: the: property. but,
on the contrary. in their many personal letters
nrnRSp1 their n0mnlHta EafiafaPtinn Many nf
our stockholders have made several trips dur.
ing the progress Of the work up to the present
isfed. At least six among, the best mining ex-
perts in the United States have made favorable
ment Of my time for seven years. 1 believe I
have averaged eighteen hours a day. And dur.
ing al these years have not had a single days
vacation. 1t has been my constant and ear
nest endeayor to bring each Of these enterprises
to their highest point of profit to all the stock.
vested in this work, and the money of those as.
ISOLATED with me. have felt, was based on
Ing value. II these years OF devotion 1 have
given to this work arc not crowned with sue
cess. | shall be completely worn out and broken
world. FRANCIs G. CRADLE
Beyond this Mr.. Chance said: "Tho Whole
is broke and cannot meet certain obligations at
present all because these vast investments are
Many of the assertions that Mr.. Cradle made
In his statement were verified in this city yes.
terday by q man VINO spent a year In the cOun-
try where CRADLES investments are. This man
was disint crested. He had none OF the stock in
any of the companies which Cradle ran. He
enumerated half IL dozen of the companies, In
Guiding the Union Hill Smelling and Mining
Company. which, he said. owned $50 claims in
Galena, NEAR. Deadwood. He said work was pro.
crossing in the mines, and ore was being taken
out that assayed "a q ton. The stock Of the
mine. he said, was selling a few months ago at
30 cents a share, the par value being 81. The
Edgemont Stone Company was another of the
companies. This man said that he stone com
there last it could not keep up with its orders.
The Interstate Land and Canal Company, he
said, was another. 1t owned 10, 600 acres of
fine farm land all under cultivation, and when
he left the company was building a dam across
the Cheyenne River that would enable IL TO
irrigatc and redeem ALMOST as much more land.
Another company. he said, was the Edgemont
Townsite, Company. This company owned
that II sold two years ago for $50 were being
sold to-day for $3.50. Still another company
owned n woollen mill, though whom this man
left the mill had not been slarted. IL waa q