The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1898-11-27
GRANT G|LLETT'S
TANGLED AFFAIRS
Young Cattle Spectator
Kept No Books.
NO RECORD OF BIG DEALS
NUMEROUS CREDITORS sCRAM-
BILE TO LOCATE STOCK.
It Is Said the Daring Operator Mort
gagged Cattle Twice and Is Now
in Hiding to Avoid
Arrest.
NO RECORD OF BIG DEALS
NUMEROUS CREDITORS SCRAM-
BILE TO LOCATE STOCK.
Special Dispatch to The Call.

KANSAS CITY, Nov. 26.-The where
abouts of Grant c. Gillett, the Dig
Kansas cattle-feeder, whose nature
was announced yesterday, are SUN
unknown. Probably twenty-five oil
ferent Kansas City live stock commits
sion houses are indorsers OF G1liett s
paper, which is said to be scattered
through the banks of the country from
Denver to New York city. All Oh the
local firms declare that the paper they
hold is amply secured and that there
cannot possibly be any loss to single
holder. OF the cattle in the feed lots,
something over 10000 head were pur-
chased from one Denver firm, that or
Dake & Keller, to whom Gillett is said
to have given a mortgage of $20S,OO0-
These cattle are 3-year-old steers, and
cattlemen assert that a low estimate of
their present value is $50 head, or
about SO a head more than the interest
in the cattle held by the Denver firm
Another lot of cattle contains 500 head
which Gillett and another dealer own III
Oklahoma. These cattle are said to De
mortgaged for $125,000 and are stated TO
be worth a third more than the amount
against them.
A remarkable thing about Gilletts
methods of doing business was that he
kept no books and took no one into his
confidence. All the details OF his enor-
nous deals were carried In his head,
and this complicates the matter. Gill
lett is dubbed as a careless financier,
and those who know him best now say
that sheer luck carried him through
many of his heaviest deals. Many local
stockmen declare that he would not
run away even if he knew MS deots
would wipe out his herds and ranches,
because he believes that luck will al
ways attend him. Nevertheless, there
was talk to-day that he had mort
gaged cattle twice and left to avoid ar
rest.
The deal that forced Gillett to the
wall was a SIPS, 900 loan held by
Kansas City livestock firm. The money
was advanced to him on $500 head Of
feeding cattle in Oklahoma, and the
mortgage fell due last week. The Kan
sas City firm declined to extend the
loan.
Gillet tried hard to secure money.
but for the. first time in his ca
reer he was unable to get backing.
Close upon the heels of this came
deal that he had with Vale & Gates,
the Arizona cattle magnates. Gillett
had paid $4,000 as earnest money on
1000 cattle in the Panhandle of Texas.
which Vale & Gates owned on the
famous a. A" ranch. These cattle
were worth $120,000 and Gillett was
unable to raise the money to take them.
and saw his $4,000 go to pay his liabil-
ity for the loss to Vale & Gates. AS
soon as it was learned here that GIL
lett was being pressed by one or two
Of his creditors, others sent their rep
resentatives to his ranch to protect
their loans. Meanwhile the plunger
| took his leave.
which has passed through the
hands of the Kansas City firms. began
| telegraphing, and to-day few of the
Kansas City houses are trying to sell
| livestock paper.
KANSAS CITY, Nov. pa special
to the Journal from Abilene, Kans.,
states that the liabilities of Grant Gil
| lett, the cattle king, will reach nearly
a million and half dollars, and that
! the assets NAV not reach more than
half this amount 1t develops that Gill
| lett had filed in Dickinson County
mortgages covering 80, 1913 head of cat
tie and aggregating $849,740.
| In addition to this amount. according
to the Journals dispatch Gillett has
outstanding nearly $500, 900 Of accommo-
dalton paper. The thirty or more men
| who are in Abilene representing COM
mission houses and other creditors of
Gillett have been busy all day tracing
| the cattle upon which their firms hold
MORTGAGES. 1t was found that at least
| one bunch of cattle has been mOrtgaged
| to two firms. Inc a11alrS are IN a DaO
tangle. which will require weeks to I'M
ravel, and it is feared that much litiga-
ton will result. The whereabouts of
Gillett is still unknown.
The mortgages filed in Abilene show
| the principal creditors and their securi-
ties to be as follows: Gilmore & Cooper
Of Kansas City $40 head, s243,000; Gill
lespie Commission Company, Kansas
City, 1000 head, 100000; Trowers &
Sons, Kansas City, 1900 head, $1,000
Vale & Gates, Kansas City, 542 head,
I SIG, 200; Holmes Live Stock Company,
Kansas City. 1860 head, $41, 800; Evans
| Snyder Buell. Company, Kansas City,
1920 head, $122, 900; Bohart & Co., st.
Joseph, Mo-, 1900 head, 100000; Keller
&, Dake, Denver, 1854 head, $25, 900;
total, 1893 head, $S49, TAO.
Incendiarism at Carson.