The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1898-02-12
GRIEVANCE.

The Stranded Promoter Arrives In Omaha
and Consents to BE- observation-disclosures
the Failure of His Present Schemes to
UncalIed-FOr Interference on the Part of
Former Benefciaries.
OMAHA. Neb., Feb. 9.-Francis C.
Cradle, promoter, arrived in Omaha
from st. Louis yesterday, and immedi-
atcly went to the home of his local
representative, NJ. L. Parrotte. After
repeated refusals Cradle consented to
talk Of the present condition of his vari-
GUS enterprises. Mr.. Cradle looks as
though he had undergone a severe
mental strain.
Il have little to state to the public
at the present time other than what
has already been said. | think the
newspapers have misrcprcSented me in
many things. although | do not know
that it was Intentional. | can Only say
now that | organized all the companies
in which | was identified upon a logical
basis. and there is 10 reason why they
will o ultimately prove paying in
vcstmrnts. ! have received many kind
letters from friends. both in this city
and in the Black Hills country who
still express, their confidence in me.
and with their assistance | hope to
Once more regain my former position.
The whole trouble WAS prrcipitatcd
by the action of President Williams OF
the Chemical national bank OF New,
York in demanding the resignation Of
Cashier QuinIan. The various com
paTics with which | WAS connected
We're in good condition. although. It Is
true. carrying Il large indebtedness,
and they were in no way dissimjiar to
thousands of other projects which are
at the present day backed by large asst
crn capital.
To show you thai President Viii
liams action was u~nwarrantcd. | had 4
consultation with him a few days pre-
viouS to the resignation of Cashier
Quinlan and told him that | had al
ready SlSO.O00 on hand with which 10
pay the indebtedness Of our companies
to the bank. and that with a few;
weeks time | could easily raise the
res of the amount. lie was aware
Of the fact that | had paid off Il note OF
$50 COG which had been due the bank
upon Il former occasion. and he had nc
righC TO doubt my ability or honesty to
do SO in the present instance. If
President Williams had withheld ac-
ton in the matter for a fortnight. his
bank would have received every dollar
that was due from the EdgcmOnt com
pany.
As an additional proof hat Prcsi-
dent Williams did not ac5 in good faith.
either with Cashier Quinlan or myself,
| will merely state that thc Little
Flyer he speaks of investing in. in
connection with the Edgemont enter
prise. paid him back. in dividends.
three-fourths of the capital he placed
in them.
In summing up the work of western
developing in which l have been en-
gagged during the past seven years, 1
find that the original Edgemont Town
site Co.. capitalized ut $4,000. has
paid back to its stockholders in divi-
dends nearly threc-fourths of the
money invested. This was accom-
plished in the face of hard times. 50 It
would appear from this that the So
called schemes must be Of some pro-
ducing value. The UniCn Hill smelling
property. together with that built in
Galena. costing in the aggregate nearly
500. 900. | regard as Il good investment.
The mines from which these plants re-
cciVe their ore are among the richest
in the state. and are not second to
even the famous IIomcstakc. There
has been: until lately. 300 men en-
ploycd in these plants and in the mines.
at an expenditure of nearly $1,000 per
day. | think work will again. very
shortly be resumed.
In organizing the various compa-
nies for the development Of the Edge
region. | floated the bonds of the
E~dgcmOnt TownSite Co.. the Edgcmont
Irrigation Co.. the Edgemont Stone
and the Union Hill Mining and
Smelling Co. Each of these was dove
tailed into the other so that all would
support the one which preceded it.
When the crash came it paralyzed each
and every one of them"
Mr.. CRADLE says he will remain in
this city for several days to recruit his
nerve forces and then visit Edgcmont,
east later to place Edge
investments upon Il solid financial
footing.