Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1898-02-06
THE OTHER SIDE.
Chemical National Bank Will Not Feel the
Losses Caused by Recent Bad Loans.

Chemical National Bank Will Not Feel the
Losses Caused by Recent Bad Loans.
NEW YORK, February George Will
liams, president of the Chemical National
Bank. when asked to-day whether there
was any further development in the Quin-
-Silver-G Cradle matter, said:
1--WE have been perfectly frank in taking
the public into our confidence and telling
them of our losses through Mr. Quinlan's
loans. 1t is no more than right that the
public should look at the other side of
the account, which is that our profits last
year were over 81, 100 900. and that we can
soon make up these losses and have still
a handsome investment for the fortunate
stockholders.
Mr.. Williams added that this would be
the last communication he would make
to the press.
Some of the facts elected at the
supplementary proceedings against
John S. Silver, president Of the New
York Carbon Company, were made
public to-day. The proceedings nave
been taking place at the request of
His counsel, and during his GAMMA
llOH pllN6i do ICQuil L lioAAN oO-iiS
admissions under oath OF his connec-
tons with the New York Carbon Com
pany and also OF a presen. when he
made his wife of a house on West
Nineteenth street. This was required
of him because when the National
Bank went into liquidation silver owed
it $53 900, This claim was turned over
to the City National Bank, which had
assumed the task of settling up the
defunct banks business. Though its
counsel it subsequently obtained lldG-
ment against Silver which it has yet
to collect In the course of tie pro-
ceedings Silver stated that lie 'e"eived
SIS 900 a year as president of the COM
pany, and admitted that IN addition to
his salary he had received about $10,-
0O0 from the company. In further ex-
PLANTATION of his connection with the
Carbon company, Mr.. Silver said:
~ am president of the New YORK
Carbon Works, but [ have no stock in
the company l have had no stock in
it during the last two years, excepting
ten shares that | do not now own.
Il do not own any real estate any
where. | do not own any stocks or
bonds. | have no evidence or debts
due me. have about 100000 in judg-
ments against me, perhaps more than
that
Concerning the house in which he
lives, he said:
Mrs Silver owns the house.
There was much said to-day as to
interstate lands and canals, IN Whlcn
Francis C. Cradle has large interests.
Extensive inquiries are being made re-
garding il. Lawyer Abner Mckinley,
whose name appears in some OF the IL
terature which the lands and canal
company sent out, as counsel for the
corporation. said when questioned con-
corning this:
Il was approached some time ago by
Wade Chance, a reputable young man
connected with Mr.. Cradle in some
way. | think his secretary. This young
man asked me if | would accept re-
tainer as counsel for the Interstate
Lands and Canal Company, and I re-
plied that if, after | had examined into
the plan. | found it to be reputable and
practical | would have no objection.
This is as far as | got in the transac-
ton"
NIcUSIdi -. ID. 4NCtttSNCiA, cSoiote~hhe
secretary of the United States treasury
during the Harrison administration,
who is the president of the company
had this to say:
Il accepted the presidency of the In
terstate Lands and Canal Company
about six months ago, after having sat
isfied myself that the undertaking was
one of merit, which | still believe it to
be. Its properties are undoubtedly OF
large value and should easily make
good the investment which has gone
into them. provided they are not wan
tonly slaughtered. The company has
sold only a trifiing amount OF stock
and | am informed and believe, so the
general public has no pecuniary inter
est in the outcome. The funds for
carrying on its extensive work of IT.
rigating canals, reservoirs, etc, have
been mainly advanced by few CAPT
talists who inaugurated the enterprise
| have only nominal interest in the
corporation, and had nothing to dc
with its formation, but | know Of nc
reason why it should not, like its pre-
decessors, prove an honorable success
know nothing whatever OF Mr.. Ora