The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-02-04
CRADLE PROMISED TIME
CHEMICAL BANK HAD AGREED NOT TO
PRESS HIM FOR MONEY
Two Sides to the Story of the Down
fall of Cashier Quin1an, and the
Last One Presents the Western
Promoter in Somewhat More
Advantageous Light.

NEW YORK, Feb. 3.-The officers of
the Chemical National bank were in
communication by telegraph today
with banks in various parts of the
county 10 trace the course of the GER
titled checks given by Cashier QuinIan
to Messrs. Silver and Cradle, and to
ascertain whether financial institutions
elsewhere had advanced money on
drafts, such as were accepted as securi-
ty a the Chemical National.
The directors OF the bank were in
session all today, discussing means of
recovering as much as may be possible
of the money loaned by Mr. Quinlan
President Williams. when shown the
dispatch from st. Louis containing a
statement by Cradle, in which the lat
ter said that Mr.. Williams had been a
stockholder in one of his companies
Tor several years, said: "It is wrong
Tor this man to try to mix me up in his
schemes. 1t is true that [ have been
connected with one of his companies.
but ii was a trif1ing matter. not more
than $4,000 or $1,000"
He also admitted the truth of state
ment that, on Thursday last. the Chem
tcal National had accepted a demand
note Of S20l 500 from Cradle, agreeing
at the same time not to press Cradle
for the money.
William H. Kurtz who Is said to
have been associated with Cradle in
many Of his deals, said today: "Mr
Cradles dealings with the Chemical
National bank have extended over a
considerable period. AS 1 understand
from him. he was we'll known to all the
banks officials To my knowledge. he
owed the bank $4,000 at one time, and
liquidated the debt until only $4,000
was left. Thus he has gone on con-
tracing obligations and discharging
them"
QuinIan Anxious.
AT the beginning of last week the
total amount of CRADLES Indebtedness
TO the bank was $201, 500. 1t seems that
Mr.. Quinlan had not reported the last
transaction to President Williams.
Becoming a little anxious, Mr. Quinlan
made statement of Mr. CRADLES ac-
count before President Williams and
the directors at last Thursdays meet
ing. The directors made no complaint
on this head, knowing Sir. Cradle, but
sent message inviting him to wait
upon them. Mr.. Cradle called there, and
the result of the conference was that
Mr.. Cradle gave the directors a de-
mand note for $201, 500. The directors
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 indorsed
any of SilVer's 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.. Quinlan.''
Judge F. G. Hamer, of Kearney, Neb,
who was said to be Mr. CRADLES coun-
sci said that Cradle began his business
life as a bank clerk in Kearney, and
then branched out as a money lender
and real estate dealer in Lincoln, where
he prospered. Judge Hamer said that
Ora BILE 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
10 the bank CRADLES Western compa-
MES, Judge Hamer said. We're all in a
prosperous condition. Judge Hamer
said he supposed CRADLES property, if
realized on. would bring s1,O00,000 over
and above Mr.. CRADLES total indebted
ness
Rnmer Surprised.
Judge Hamer was shown the dispatch
from Omaha stating that, among 9TH
ers, he was suing the property of Gra-
bic for $6,500. Judge Hamer said he
knew nothing of this suit, and was
evidently surprised. ut has been
brought by some one in my interest.
l suppose" he said. Perhaps for some
company which 1 represent. I have
been looking after Mr. CRADLES per
sonal affairs in the West for some time.
] am his personal counsel. l have been
in New York for several weeks. Mr.
Cradle telegraphed me from st. Louis
today. He evidently knew nothing
about this Chemical bank affair until
today. He may come on to New York.
Mr.. Kurtz said he had been stock
holder in CRADLES companies for a long
time and was closely associated with
him in business.
John S. Silver, one of the men whose
borrowings from the Chemical National
bank led to the resignation of Cashier
Quinlan, said today that he did not owe
as much as he had been said to owe
but. whatever the sum was, he would
pay it.
Selah p. Strong, as attorney for Ben
Jamin p. Stephens obtained an attach
ment today for $4,000 for breach of
contract against the North American
Manufacturing company of which
John S. Silver is the president
The sheriff received executions today
against John S. Silver for $493S0, in
favor of Camille Weidenfeld. on q
JUDGMENT obtained on Feb. II, 1894. and
for $11 ,275, also in favor Of Mr. Wciden-
field on a judgment obtained on Dec.
Is. 1898. No property was found upon
which to levy.
An execution against Mr.. Silver for
S51.215, in favor of Samuel H Smith
vas returned marked no property"
on Dec. 81 last An execution on Aug.
IS. 1894. for $47.91S. in favor of Eugene
Kelley, and one for $25, 103, on May IS.
1892, in favor of Geo. w. Adams, as
executor were both returned indorsed
mo property
Geo. NJ. Wright, as assignee of Hill
tcn-Hughes & Co, put in an execution
for small amount today. All these
executions aggregate $1S5.413
An attachment was received a few
days ago for small amount against
the North American Manufacturing
company, of which John s. Silver is
president. in favor of B. P. Stevens,
for cellulOid.
A deputy sheriff received two execu-
lions against Francis c.. Cradle about
three weeks ago, one for 1920, in favor
Of Willard Brown. and the other for
S2,O17, in favor of D. w. Whitmore,
both being on notes. 1t is said these
Two notes We're payable at the Security
Pbi1a