New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-05
CRADLE WAS TOO GRASPING.
HOW THE FACT OF QU1NLAN's LoAN'
CAME OUT
THE PROMOTERS DEMAND or PkhSlDhNI 'i-''
,,xc rop MONEY LED TO THE DISCOVERY
THE LATrER's INVESTMENT II
AN OMAHA COMPAN

AN OMAHA COMPANY
r,. oro,rs ~ the Chemical National Bank ana
,ho loo,s made bv the former cashier OF 'n's III
stiiution William ]. Qunlan, IT, l"
Cradle and John : Silver were Sun h,"V" 90
about Yesterday The developments Oh - -,
show that the turn in the affairs OF the p"'N NC.
oousad the RESIGNATION Of Quinan was ioI'eU "f
o." - h,,,self A week ago last Thursday
NJ cradle made flying visit 10 TINS CITY il'''
81 Louis and visited the Chemical h'"N, on :.
that time made a request for an aool''o'l 80. 80
$40 600 or $1,000 He had already secu''U -,
Cradle first saw Cashier Quinian anu U.s. 80
% advance the money Mr.. Quinlan Teiuseo' az
said that the limit had been reacheu. MI N
- au President George @. Nllldns' "''
messed him for this money. MT. Wlha'"s -
Tho loan and then Mr.. Cradle msis''" ~ ,,a
matter beine brought TO the Afternoon % ""0
~ directors He said that the money area.S ~
,.o,ca6 would be a total loss unless he cou'u nav
,ha additional funds and that ne thought inc
a,rectors would see II in this light and give MN
,ha money II was at this further heaIi"s '"'
the trouble came out - T., 80
49,, conference was held with Cradle In inc
,-,,a,a oe7ce Of Nh Williams. Those present oe9'
Mr. Cradle were President WiIiains' o"SI'' -,
10, Frederic w Stevens and James A hooseNo'.'
directors The result Of the conference was -
the bank absolutely refused TO ADVANCE any
money Cradle discounted. left the cry nv 0
and returned to St. Louis. Al the tlie VI '
wit
Ion, silver was not known 20 any OF inc mn
~a,.,s sxcent Mr. Ouinleu. He became ala'A
:. ,,a nav th,nes were going. and on SUNDAY pau
a visit 10 President Williams ana 'olo nm ~ 49,
y. this loan II then that Heo.'~e -
=, oe,c,als WAS called for Monday ana QUINN"
resignation asked for. - -, ,h. ron
II was also learned that in the course oi '"0
- 18th Mr. Cradle al the bank the oahA
oa,cisls demanded that the promoter ch"',ee
nature Of the collateral that ne mao ." - to,
Crahle had deposited notes for varying suIns
~. secur,tias attached. The Chemicars olrec'oiS
demanded that he deposit note TOT ip -,
80 sao, so navable on demand. Cradle saiu "'
,vo,,ld consider the proposition. ana Went ""N
Iatar he took a train for 81 Louis anu "'
e,ncs communicated with the bank so THO VII
declare T., - ,,,s,,aIlv
49,. Gov the position. and there was in
-, -oada ~ ne might not have saved enough "
m.te good some Of the loss. James A f'oos0
.o,d IN response 10 this inquiry; "eH' !0N
ou,nlan gave away great deal 20 the On. -,
which he belonged and TO charity 90 "o' ,"Ia.s
,ha, no has any money left. Possibly Quii'i'1
- IS v,or, out by hard labor but II Is Ger
..,rlv most remarkable case MT. rNooeo
so,d that he did not think any impor 'Anoe So
he attached 10 the fact that Cashier Vu'i'I a. a.
I,as,dant Williams had owned stock IN one OF III.
CRADLES enterprises. When freslue"'
osked about the matter he said 49,
..rlera Is nothing whatever TO conceal ABOUT 'ii
,oat,er Some three or four years ago 1 nv
"a nno IN one OF Cradles companies uo
rnterstate Town Site Company ana up :. '
eso,t time l have received altogether s-''" III
p.o an5 ,here e. believe. more TO come. II
as a small investment. the money PAM ioi u
mas my own and entirely foreig7 from 'He O1''H'
the public has really nothing Whatever 10 uo
q snd 700 much has been made OF na''e' "
trifing" . ,- invest
..D,d YOU regard the dividends upon Soui ,
'cyyeu" he replied the enterprise. believe, was
n good one and turned out exceptionally wen.
m vou know whether the large dividends you
received were actually paid out OF the earnings -
sHa DO only t hnSw to 'n 9nd
the dividends I have mentioned, -. ,,,a, n, vour
Do YOU know whether Mr. 9u MEN, k''e" Oh Wv"
mo" replied M Williams Il cannot ray "H0'i'-
MI Williams again declined to give any ~ sS' tb oo
seourte he held as sOla ate Ma ssa a6o muoS
publication of the names OF ne conlpahsS me- might
prove to be valuable In the enai UI me nSse more
offered by Mr.. Cradle Mr Williams sp T si n9
~ ~ he said guardedy, that We shan event
ualy realize upon these securities ano sei Sf our
t nd NAV not be convertible in cash for some
Years 70 come but ultimately we rather expect 10
h1d bo yns' the money advanced Mr. Silver Mr. Wi-
iams was less hopeful have ave se me the add
ssi sscYr1ties FOR Ssi 600 and he then promised
70 hand me $500 in cash to-day | have sih 10
heard from him that the best ne c9uio 90 "''u NC
ss0 have not received that yet. ,. wa,
James A. Roosevelt did not take Preras sToro NJ
SrabIe n don't know how much We shall realize
On the Orable and Silver loans" he SAID because
UM ost H Of the schemes are undeveoped. Some say
sn C,n but pshawl that Is all In the distant future
The stock is Of sort that bank NE s ours Ta e
viii slip in Persons often come In mere ana NY
10 give stock IN lots OF concerns uut we ma
eixpsya taen careful about that There IS suct Il
thing as personal liability you know MI Quinlan
snryeh ms without security. He had been here so
io,o that we ala not think such thing necessary.
silver could not be found at n nj once No o,c 81
aa tbev ala not expect him 10 be back for several
Ssvs Silver told friends that he was busy trying
70 rr,tect himself against the pressure or creditors