Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1898-02-03
GREAT ENTERPRISES
Cashier Quinlan's Resignation Brings
to Light Many Things Concern
ing Chemical Bank Loans.
$S,000,O00 WERE REALIZED
Both Kurtz and Cradle Are Well Known in
Several Large Cities Francis CRADLES
Statement Concerning Various
Operations in the West.

NHlcaSO, EcD. 3.-Inc tribune SAYS
During the last ten years in which Fran
els Cradle, the man to whom Cashier
Quinlan, of the Chemical National Bank
OF New York, loaned in the neghbor
hood of S250,0OO of the banks funds
has been engaged in floating stocks
bonds and mortgages of his western en-
terPrses among investors of the east
not less than 5000, 900 have been real
lied. Intimately associated with Mr.
CRADLE has been W. II. Kurtz, formerly
of Kansas City and Omaha and now in
New York. OF the principal investors
in the speculatiOns men are located
in Philadelphia, New Jersey, Connecti-
cut and New York. The names of ey-
Governor Pattison, of Pennsylvania, ex-
Secretary of the Navy Tracy and many
other prominent men have been used in
boosting the enterprises, including irri-
CATION projects in South Dakota, the
Edgemont townsite, at the junction of
the Deadwood and Billings branches of
the Burlington road, mines in the Black
Hills, and smelter at Edgemont. The
company holds pledge from John Il.
Seares to build a smelter which may be
enforced Recently Cradle and Kurtz
were turned out from the management
OF the company.
Known In Omaha.
Omaha, Neb.. Feb. 3.-Both Francis
Cradle and W. X. Kurtz are well known
in Omaha. Mr.. Kurtz is said to be a
nephew of Bishop Hurst, of the Method
ist church. Both kurtz and Cradle
were especially prominent in entertain
ing delegates to the general Methodist
conference in this city in 1892. Imme-
diately after the conference the first of
three excursions to Edgemont and the
Black Hills property was taken out I'M
der their direction, and as a result
large number of men foremost in the
Methodist church were induced to be-
come investors in Dundee place lots and
the EdgemOnt stock. Suits were start
ed this morning and attachments issued
against the property of Francis C. CRADLE
The house and stable, with furnishings
and equipment, are listed at $50, 1000
Francis CRADLES Statement.
st. Louis, Feb. 3.-Francis Cradle,
to whom William j. Quinlan, Jr., cash
ier of the Chemical National Bank of
New York loaned 1898 900 of the banks
money, in consequence of which Quin-
Ian saw fit to resign, is occupying
magnificent suite of rooms in the Plant
ers hotel of this city. He said "a
year ago, my obligations to the Chemical
bank were $180,000. Six months ago |
had paid up every dollar and the present.
Indebtedness has been incurred since
that time" Mr.. Williams, president of
the Chemical bank has been stock
holder for several years in the townsite
| organized, and has ex-
pressed his complete satisfaction with
the investment. The work / have been
doing is opening up new country,
stretching for 500 miles along the Bur-
lington line, beginning at Alliance,
Neb., and ending at Billings, Mont. and |
including branch line of 100 miles |
through the Black Hills to Deadwood. |
There are AZ towns in our territory. II
built about 500 miles of canals and later
ais for irrigation and power purposes,
and large number of storage reser-
voirs tributary to those towns thereby |
opening up thousands of acres of land |
for settlement and established farming |
and many homes I
The Union Hill company and the
Edgemont and Union Hill smelling
employ over 200 miners near
Deadwood, with smeter and stamp
mill completed and another stamp mill |
and smeter in process of construction. |
l believe the mines when fully developed |
and worked will prove one of the richest
paying properties in the United States. |
Every dollar of my own money is in
vested in this work, and the money of |
those associated with me, and I felt it |
was based on good properties that would |
be ever increasing in value