The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1898-12-16

in cashing the draft vas preparing 70
leave the country.
THINK HE CAN NOT PAY oUE.
Hurd & saterbaush. Abilene. kAa.,
attorneys who are trying to straiehtsa
out the affairs OF Grant a.. Gillett. tAs*
erstwhile cattle king" were in Kan
sas City yesterday consulting with the
creditors Of their client. They were en-
,deavoring to get q line on his liabilities
here. in order to decide where to begin
in the work Of adjusting Gillett's az
fairs.
1t Is the opinion Of the Abilene at
torneys that somebody will have to
hold the sack. They do not think
Gillett's assets will come anywhere
near offsetting his debts. This opinion,
however, is not shared by some Of the
commission firms here which hold Gill
let's paper fo1 various amounts. One
Of the best known Of these firms does
not hesitate to say that it believes GIL
let's assets will pay off all liabilities
which his colossal plunge has brought
on. ai'
While this firm declares that Gilllett's
debts will all be paid, it has taken the
precaution to send a representative 70
the Woodbine farm to look after it's
interests. This representative tele-
graphed to the firm yesterday for
horses ana saddles, which is construed
to mean that enough of Gillett's cattle
left at Woodbine have been corraled
to satisfy the cattle plunger's indebt-
edness to the firm.
One prominent commission company
has closed down on So, 900 worth of corn
which is yet in the almost empty mile
of cribs at Woodbine.
A story has gone the rounds at the
stock yards that Gillett's creditors here
chartered a special train and went to
the deserted farm to grab everything in
sight, but it was denied in an emphatic
way.
"There has been a serious apprehen-
sion on the part Of the commission
firms here that the value Of MI. Gill
let's cattle would not meet his obliga-
TONS" a prominent commission man
said yesterday. His failure to pay the
heavy liabilities will not materially af-
feet the banks of Abilene. It can not
but affect the credit Of the commission
firms whose Endorsements appear on his
cattle paper, however.
While Gillett's Indebtedness to. local
commission firms is estimated at any,
where between $500, 900 and a cool mill
lion, it is next to impossible to tell
the exact amount. His paper for large.
sums is known to be held by local com
mission men. but the holders of this
paper are naturally reticent as to the
amount.
Those who know Gillett and have
bargained with him at the stock ex-
change say he is a peculiar man. He
did his first trading here in a modest
way about six years ago.. In those days
he was content with buying twenty
five or thirty head of cattle and ship
ping them to his Kansas farm. When
his luck changed, and he had made sew
eral thousand dollars by judicious trad
ing, he would do some most colossal
buying and selling. He was recognized
here as a free-handed, optimistic man,
with more luck than business ability.
His luck was something wonderful.
Those who knew him best declare that
this un~accountable luck, rather han
business sagacity, won him his thou
sands.
"He is a good fellow, who means well,
but he has bitten off more than he can
chew" a prominent commission man
who knew him well said yesterday. II
believe he realized that his job was too
big for him, and that he went away to
escape it ALL"
Another one said: when Gillett was
here last Friday a week he was the
jolliest man in town. He laughed and
talked with several. of his business
friends, and looked the last man in the
world to be in debt 81. 900, 900"
Milwaukee is wrestling with a prob
lem Of securing adequate compensation
for the renewal of a street railway
franchise, and has laid the foundation
for a profitable deal. The terms agreed
upon between the city and the corpora
ton provides that the corporation shall
pay into the city treasury on the 1st OF