The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-02-04

| breach of contract against the North Amer
ican Manufacturing Company, of which
| John S. Silver is the president
The officers of the Chemical National
| Bank were in communication by telegram
| with banks in various parts of the coun-
| try to trace the course of the certified
| checks given by Cashier Quinlan to Messrs.
| Silver and Cradle and TO ascertain whether
| financial institutions elsewhere had ID
vanced money on drafts such as were ac-
| cepted as security at the Chemical Nation
al. The directors of the bank were in ses-
| sion all the day, discussing means Of re-
| covering as much as may be of the money
| loaned by Mr.. Quinlan.
President Williams, of the Chemical Ma
| tional Bank, when shown the dispatch from
ST. Louis containing an interview with
Cradle, in which the latter said that Mr.
Williams had been a stockholder in one of
his companies for several years. said: 1T
is wrong for this man TO try TO mix me
up in his schemes. 1t is true that L have
been connected with one of his companies
but it was a trifing matter, not more than
two three thousand dollars Mr. Will
liams also admitted the truth of q state
ment that on Thursday last the Chemical
National Bank had accepted a demand note
of $O1, 500 from Cradle agreeing at the
same time not to press Cradle for the
money.
Mr. Williams said that nothing had been
found to justify the bank in beginning
criminal action against Mr.. Quinlan Presi-
dent Williams said Mr.. Silver called on him
late yesterday afternoon after the matter
had become public and handed him $6l GOO
worth of securities. Mr.. Williams to-day
seemed doubtful of the value of the secur-
tiles, but finally declared that they might
after all-prove to be worth more than he
at first thought
VIM H. Kurtz, who is said to have been
associated with Cradle in many of his deals.
said to-day: Mr. Cradles dealings with
the Chemical National Bank have extend
ed over considerable period. AS under
stand from him, he was well known to all
the banks officials. To my knowledge he
owed the bank $4,000 at one time and
llquldated the debt until only $4,000 was
LETT. Thus, he has gone on contracting
obligations and discharging them At the
beginning of last week the total amount of
CRADLES Indebtedness to the bank was
$2Ol,5OO 1t seems that Mr.. QuinIan had not
reported the latest transactions to President
Williams. Becoming a little anxious Mr.
Quinlan made a statement or Mr. CRADLES
account before President Williams and the
directors at last Thursdays meeting The
directors made no complaint on this head
Knowing Mr.. Cradle, but sent a message
inviting him to wait upon them. Mr. Cradle
called there, and the result of the confer
ence was that Mr.. Cradle gave the direc-
tors demand note for $2O1 500. The direc-
tors then agreed not to press him, but to
afford him a margin of time in which TO
pay the note" Mr.. Kurtz said he knew
nothing about Silver and had never in
dorsed any of Silvers paper. 1T was this
matter of Silver's," said Mr. Kurtz that
precipitated the crisis and brought about
all the mischief 1t preyed upon Mr.. Quin-
lam"
Judge F. G. Hamer, of Kearney. Neb..
who is Mr.. Cradles personal counsel, said
that Cradle began his business life as a
bank clerk in Kearney and then branched
out as money lender and real estate deal
er in Lincoln, where he prospered Judge
Hamer said that Cradle had never failed
in any of his enterprises. He said that if
Cradle had not been pressed he could have
easily paid off his present indebtedness to
the Chemical National Bank CRADLES
Western companies, he said, were all in a
prosperous condition. Judge Hamer said he
| supposed CRADLES property, if realized on,
would bring $1,OOO,OO0 over and above Mr.
CRADLES total indebtedness.
Judge Hamer was shown a dispatch from
Omaha stating that, among Others he was
suing the property of Cradle for $6,5OO
Judge Hamer said he knew nothing of this
suit. and evidently surprised 'It has
been brought by some one in my interest /
suppose he said. Perhaps for son.e COM
pany which l represent. I have been look
ing after Mr. CRADLES personal affairs in
fbe 70,
| counsel. 1 have been in New York Tor sew
eral weeks. Mr.. Cradle telegraphed me
from ST. Louis to-day. He evidently knew
nothing about this Chemical Bank affair
until to-day. He may come on to New
York"
Mr.. Kurtz said he had been stockholder
in CRADLES companies for a long time and
was closely associated with him in bust
ness
The sheriff received executions to-day
against John S. Silver for $40, $3.50 in favor of
Camille Weidenfeld, on a judgment obtained
on Feb. II, 1894, and for $11275, also in favor
of Mr.. Weidenfeldt. on judgment obtained
en- Dec. Is, 1893. No property was found
upon which to levy An execution against
Mr.. Silver for $5l ,215 in favor of Samuel III.
Smith, was returned marked mo property"
on Dec. 81, last. An execution on Aug. Is.
1874, Tor S4l,9lS, IN favor or Eugene Kelly
and one for $25. .lO3 on May 49, 1892. in favor
of George w. Adams. as executor, were
both returned indorsed mo property"
George M. Wright, as assignee of Hilton
Hughes & Co. put in an execution for a
small amount to-day. All these executions
aggregate $1S541S An attachment was
received a few days ago for a
small amount against the North American
Manufacturing Company, of which John Sill
yer is president in favor of III. p Stevens.
for celluloid. A deputy sheriff received two
executions against Francis G. Cradle about
three weeks ago. one for 1920, in favor of
Willard Brown. and the other for $2,0l7 in
favor of d. w. Whitmore, both being on
notes. 1t is said that these two notes were
payable at the Security and Trust Company
Philadelphia.
A "NAPOLEON OF FINANCE"
How Mr.. Cradle Engineered His Great
Western Enterprises.