The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1898-11-26
MANY CREDITORS AFTER HIM
FROM A POOR FARM LAD HE
SOON BECAME A MAGNATE.
Daring speculations Which Led Up to
His Sudden Collapse-Interests
Throughout the Southwest
Involved.
Special Dispatch to The Call.

ABILENE, Kans., Nov. Pa failure
involving cattle interests throughout
the Southwest was precipitated here
| to-day when an attachment suit for
$4,000 was filed against Grant c. Gillett
of Woodbine by the Gillespie Commits
sion Company of Kansas City.
Gillett controls thousands of cattle
on the Southwestern ranges, and his
liabilities are believed to be over a
million dollars. It is now known that
on Monday of the present week Gillett
made an assignment and deed of trust
of all his holdings to D. w. NALL. Gill
lett at once departed for Texas. Mr..
NALL, however, refused to accept the
trusteeship and the papers were not
filed.
This condition of affairs becoming
noised about, Gillett's creditors came
down upon him in droves. Men repre-
senting twenty-five commission firms
in Kansas City arrived at Woodbine to-
day on a special train and Immediately
began searching for Gillett cattle,
which are ranging over Central and
Western Kansas, Oklahoma. Indian
Territory and Texas. How many there
are none of the creditors seem to know,
but it is stated that there are about
5000 head on Gillett's Woodbine ranch.
Some idea of the extent of GilIett's liza
bilities was gained at the County Reg
istrar's office here, where fully $1,000
900 of his paper is recorded. About
one-third of it is blanket and unre-
leased mortgages, while the remainder
covers cattle now being fed.
Most of GillettS paper is thought to
have been held by Kansas City banks
and commission firms. but the firms
who are represented here on the ground
claim to be amply protected.
The career of Grant G. Gillett has
been of the skyrOcket order. He is
about 80 years of age, and his opera
lions have startled the more conserva-
tive stock men. Four years ago he
lived on mortgaged quarter section Of
land near Woodbine. He began his
others In this he was successful, and
on the little ranch he laid the ground
work Of a business which has enabled
him to handle over 100000 cattle within
the last three years. His methods were
as novel as they were daring. Soon he
seemed to have unlimited credit. He
bought great droves of cattle in Texas
and brought them north for feeding.
Soon he organized his celebrated cow
boy band" composed of plainsmen in
his employ. and when he rode about
the country in his special car lie took
his band of musicians with him. He
even took them into Eastern cities,
where they attracted much attention.
Mr.. Gillett is said to have recently
taken out 1921, 900 of life insurance and
5000, 900 of accident insurance.
KANSAS CITY, Mo, Nov. 25.-The
failure of Grant c. Gillett, the cattle
man of Woodbine, Kans., was not gen
orally known in Kansas City at the
close of business hours this evening
though it was already known and had
created a Slight furry in financial cir
cIes centering at the stockyards. 1t Is
stated that over 100000 of Gillett's pa
per is held in Kansas City, distributed
among a score or more of commission
firms Through these firms some of this
paper has reached the local banks, but
as to the amount of the holdings of
any of the firms or banks no definite
could be obtained.