Worcester morning daily spy. (Worcester, Mass.) 1888-1898, 1898-02-04

shears. Everything they encountered
was cut In two between them, but they
never touched each other.
Silver is the better known of the two
When the Washington National Bank,
in the Washington building failed some
years ago, 1t was discovered that $780,
900 had been borrowed from it by Silver
and it was never paid back.
The president Of this bank, Mr.. Sher-
man, who had befriended Silver and
trusted him, went into retirement and
has never been identified with banking
since. At the same time Silver was in
the American Loan and Trust Compa-
ny, and at one time was director. He
got $4,000 on some southern securities,
upon which little has ever been realized.
The Third National Bank next felt his
influence and collapsed. A. B. Hepburn,
president of the bank, found Silver's
name among the debtors of the bank for
something like 100000. Mr.. Hepburn
had been bank examiner at the time of
the failure of the Washington Bank, and
he knew Silver from A to u, as one of
the Third National people puts 1t. This
fact has never been published, but Mr.
Hepburn undertook to get out OF Silver
the amount he had borrowed from the
bank, and succeeded in reducing the
debt to 500, 900
MR.. CRADLES STATEMENT.
st. Louis, Feb. 3.-Francis Cradle, 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 Mr. Quinlan
saw fit to resign his position as cashier,
is now in this city. Mr.. and Mrs. Fran
els Cradle and Mrs J. M Lattimer, the
latter the mother Of Mrs. Cradle, are
occupying a magnificent suite OF rooms
at the Planters Hotel. The party ar
rived here Tuesday, Feb. 1. The CRADLES
are registered from New York city, and
Mrs. Lattimer from New Orleans. The
length of their stay is indefinite.
81 have just read with the deepest
pain and regret of the resignation Of
Mr.. w. j. Quinlan, Jr., cashier Of the
Chemical National Bank of New York"
said Mr.. Cradle today. He has been
my friend for 20 years, and have been
a depositor in the Chemical Bank for
more than six years past. My intimate
business relations with him during this
period have always been of the most
pleasant character. 1t seems unneces-
sary for me to say to any enc familiar
with Mr.. Quinlan's sterling integrity,
that he has never profted one cent from
any OF my business transactions with
him.
zone year ago my obligations to the
bank were $4,000 and six months ago I
had paid up every dollar. The present
Indebtedness has been incurred since
that time.
I never knew, nor have ever heard
OF the Mr.. Silver, mentioned in the dis
patches as being a debtor Of the bank.
Mr.. Williams, president of the Chem
lcal National Bank, has been a stock
holder for several years in enc of the
town sites.
The work that have been doing is
that or opening a new country stretch
ing for 500 miles along the Burlington
ROAD, beginning at Alliance, New, and
ending at Billings, Mont, and including
a branch of 100 miles through the Black
Hills to Deadwood. Only those who
nave had experience in building I'M
towns and villages have any idea OF the
enormous cost There are AZ towns i'm
our territory I have built about 500
miles OF canals and laterals for irriga-
ton and public purposes, and a large
! number of storage reservoirs tributary
TO these towns, and thereby opened
thousands of acres of lands for settle
ment, and established farming con1rnu-
mites of many homes. l have followed
the same plan on which Greeley. Col
was quilt up, where farm land is worth
500 to $500 per acre.
From the time the Union Hill COM
pany and the Edgemont and the Union
Hill smelling companies were organiz-
ed, work has never ceased. These unff-
ed companies own in all over 200 mines
near DeadWood, and the Homestalxe
smelter and stamp mill completed, and
anotner stamp mill and smelter in proc
cess of construction. Thousands of feet
OF development work has been done on
these properties al a cost of hundreds
of thousands of dollars. I believe the
mines, when fully developed and work
ed, Will prove one Of the richest paving
properties in the United States
Nearly every stockholder in each of
the companies has been out to see the
property, either before or after investi-
eating, and there never has been a doubt
expressed as to the value of the prop
erty, but on the contrary, in their many
personal letters to me and letters to
nome newspapers stockholders have ex-
pressed 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 most
favorable reports.
In all of the foregoing work 1 have
given every moment Of my time for sew
eral years, = believe ] have averaged
IS hours a day, and during all these
years have not had single days va
cation. 1t has been my constant and
earnest endeavor to bring each of these
enterprises to the highest point Of profit
to all the stockholders. Every dollar
of my own money is invested in the
work and the men of those associated
good properties Of increasing value. If
the years Of devotion I have given to
this work are not crowned with sue
cess, shall be completely worn out and
broken in health and lose every dollar
have in the world
WE'LL KNOWN IN BLACK HILLS.
Sioux Falls, S. D., Feb. 3.-Francis
Cradle is a promoter well known in the
Black Hills. His first enterprise was an
irrigation ditch in Fall River county,
this state, on the Burlington and Mis-
souri, River Railroad, near the Nebras-
ka, Wyoming and South Dakota lines.
He then laid out the town Of Edgemont
on the site. Edgemont has population
now of about 1000 people, dependent
largely for support on a grindstone
quarry and factory and projected WOOL
en-. mills and smelter. The smelter was
to be operated by ore to be taken from
the Union Hill mines at Galena, seven
miles from Deadwood. On the mining
property Cradle has, it is said, expended
about $4,000 a month for Is months.
The property has never paid anything
Of consequence, and 1t was supposed