The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1898-02-11
MORE ABOUT CRADLE.
A Hartford Capitalist Has Faith II
Him and Saws Others There Have.

A Hartford Capitalist Has Faith in
Him and Says Others There Have.
A we'll known financial man of Hart
ford, speaking yesterday about Francis
c. Cradle, the Black Hills promoter,
said there had been good deal more
said against that gentleman than there
was any reason for. THE fact isl he
said, that gentleman is one of the
most indefatigable men in the world
and he has for the last three or four
years worked eighteen hours day.
He has practically built up the Black
Hills section, and has been foolish in
attempting to carry more than ne
could. Investments that had paid New
York financial men rs per cent. were
lost sight of, just because he had, IN
an attempt to secure more capital, ap-
piled to the Chemical bank and had
been refused. He only needed from
$4,000 to $4,000 to tide him over, and
he couldn't get it. That was the straw
that broke him. Cradle still has influ-
entail friends in the west, where he IS
thought well of, and he may yet come
out of his troubles whole. There Is no
doubt that he meant to be absolutely
straight and fair, but he was foolish in
wanting everything in sight.
"It appears that CRADLE having sue
| cessfully promoted several Of the towns
in the Black Hills region and put stock
upon the market that had paid for it
| self three times over, had made q big
pile of money, when he organized the
| Edgemont and Union Hill Smelling
| company. The stock of this company
| was sold under the agreement that a
smelter would be put in ready for OPP
| GRAFTON one year ago, and John u.
| Searles the sugar man had a contract
to build the smelter. For some reason
! he did not carry out the contract and
| the smelter is now being put UP by the
company, which has forty seven men
working upon it. 1t is absolutely i'm
possible to do the smelling in the min
| ing regions and the ore must be
brought down to Edgemont, which is
the outlet for the Black Hills mines.
If this smelter had been ready the
stock of the company would have been
paying good dividends now. Edgemont
| itself is success and has paid inves-
| tors we'll.
ut so happened that man who has
| been associated with Cradle, man
named Harris, who is q practical as
sayer, located many claims of excel
lent prospects over on the other side
of Union Hill and interested Phil AT
mour of Chicago in the venture. Ora
BILE organized company called the
| Consolidated Gold company Of the
Black Hills, and sold stock to buy up
the claims. 1t was in this venture that
/ he put in the money he had made, and
borrowed a great deal more, and it was
this that tied him up so, that he was
forced to ask for more money from the
Chemical bank.
/ CRADLE" said the Hartford capital
list, lis one of the best promoters in the
country and tremendous worker. ]
had an agreement with him In GER
i tain matter a few years ago and he
4 kept it to the letter and other Hart
ford men will tell you the same thing
There is no doubt that in his opera
lions he did become careless and made
i promises that he ought not to have
made and could not fulfill, but would
like to go into schemes with him as
well as any man I know. But he needs
a balance wheel. Courant