The daily morning journal and courier., 1898-02-04
ONE LOAN ACCOUNTED FOR
FRANCIS GR4BLE HAS S1SO,OOO OF
 CHEMICAL B4NK'S MONEY,

He is Promoter and is Engaged in open-
 ing New Country for 500 Miles Along
 liance, Neb.-An His Own Money In
 the Enterprise.
 St. Louis, Feb. S.-Francis Grable, to whom w. J. Quinlan. jr., cashier of the Chemical National bank of New York loaned large sum of the banks money in consequence of which MT. Quinlan saw fit to resign his position and Mrs. Francis Grable and Mrs. J. M. Latimer, the latter the mother of Mrs. Grable, are occupying magnificent suite of rooms at the Planters hotel. The party arrived here on Tuesday, February 1. The Grables are regis tered from New York city, and Mrs. Latimer from New Orleans. The length of their stay is indefinite.
 MT. Grable was engaged to-day in preparing a written statement of the transactions for publication at the re- quest of the Associated Press, which he gave out this afternoon. Aside from this written statement he would say nothing.
 T have just read with the deepest pain and regret of the resignation of W. J. Quinlan jr, cashier of the Chem ical National bank of New York;" said MT. Grable to-day. He has been my friend for twenty years and I have been depositor in the Chemical bank for more than six years. It seems un necessary for me to say 10 anyone fa- miliar with MT. Quinlan'S sterling in- tegrity that he has never profited one cent from any of my business transac- tions with him. One year ago my obli- gations to the bank were S1S0,000, and six months ago had paid up every dollar. The present indebtedness has been incurred since that time.
 The work I have been doing is that of opening a new country, stretching for 500 miles along the Burlington line, beginning at Alliance, Neb, and end ing at Billings, Mont, and including a branch line of 100 miles through the Black Hills to Deadwood. Only those who have had experience in building up towns and villages have any idea of the enormous cost. There are forty two towns in our territory. I have ah Jest T laterals for irrigation and public pur- poses and a large number of storage reservoirs tributary to these towns and have thereby opened up thousands of acres of land for settlement and es- tablished farming communities of many homes. I have followed the same plan on which Greeley, Col, was built up, where farm land is worth $50 to $200 per acre.
 From the time Union Hill company and the Edgemont and Union Hill Smelling companies were organized, work has never ceased. These united companies own in all over 200 mines near Deadwood, and the Homestake smelter and stamp mill completed and another stamp mill and smelter in pro- cess of construction. Thousands of feet of development work has been done one these properties at cost of hundreds of thousands of dollars. I believe the mines, when fully developed and worked will prove one of the rich est paying properties In the United States.
 Nearly every stockholder in each of the companies has been out to see the property, either before or after invest ing, and there has never been doubt expressed as to the value of the prop erty, but the contrary in their many personal letters to me and letters to home newspapers have expressed their complete satisfaction. Many of our stockholders made several trips during the progress of the work up to the present time and continued to express themselves as satisfied. At least six among the best mining experts in the United States have made favorable re- ports. In all of the foregoing work I have given every moment of my time for seven years. I believe I have av- eraged eighteen hours a day and dur ing all these years I have not had a single days vacation.
 Tt has been my constant and earnest endeavor to bring each of these enter prises to their highest point of profit to all the stockholders. Every dollar of my own money is invested in this work and the money of those asso- ciated with me, and have felt it was based on good properties of incoming value. If the years of devotion I have given to this work are not crowned with success shall be completely worn out and broken In health and I will lose every dollar have in the world
 (Signed) FRANCIS c. GRABLE."
 GR1BLE IN PHFLADELPHIi, Went to That City >trongiy Recomm ed