New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-04

which handled"
CRADLE SAYS HIS SECURITY is GOOD.
He CLAIMS PRESIDENT WILLIAMS AS a STOCK
HOLDER IN ONE or HIS COMPANIES. AND As
sERTs THAT MIR WILLIAMS is SATISFIED
ST. Louis. Feb. 3.-Francis c. Cradle, to whom
W. J. QuiElan. jr.. cashie: Of the Chemical
National Bank OF New-York. lent a large sum
Of the banks money. is now in this city. Mr..
and Mrs Cradle and Mrs. J. NJ Latimer. the
mother Of Mrs Cradle are occupying a fine
suite Of rooms at the Planters Hotel. The
party arrived here last Tuesday. The CRADLES
are registered from New.York City. and Mrs.
Latirner from. New Orleans. The length Of
their stay is indefinite. Mr. Cradle to-day pre-
pared a written statement Of his transactions
with Mr. Qunlan for publication al the request
Of a representative Of the Associated Press,
which he gave out this afternoon. Aside from
this written statement he would say nothing.
This is the statement which he wrote and
signed:
Il have just read with the deepest pain and
regret the resignation of w. j. Qulnlan. cash
Ter Of the Chemical NatiOpal Bank, Of New
York. lie has been my friend for twenty years
and l have been depOsitor at the Chemical
Bank for more than six years past NJ init
mate business relations with him during this
period have always been Of the most pleasant
character. II seems unnecessary for me to say 10
any one familiar with Mr.. Qunlans sterling
integrity that he has never prcnted one cent
from any Of my business transactions with him.
"One year ago my Obligations to the bank
were $4,000. and six months ago | had paid
up every dollar. The present Indebtedness has
been incurred since that time never kneW
nor have / ever heard Of the MI Silver men
toned in the dispatches as being debtor Of
the bank. nor is he now nor never has been
connected with any OF my interests in any way.
Mr.. Williams. the president Of the Chemical
Bank. however, has been n stakeholder for sew
eral years in one Of the town-site companies
organized. and has expressed complete salts
faction with his investment.
The work have been doing is that Of open
Ing new country, stretching for five hundred
miles along the Burlington line. heeining at
Alliance. Neb., ending az Billings Mont and
including the branch line Of one bundled miles
through the Black Hills to Deadwood. Only
those who have had experience in building up
towns ana villages have any idea Of the enor-
nous cost There are forty-tWO towns in our
territory. have built about five hundred miles
o: canals and laterals for irrigation and public
purposes and a large numb OF storage Teser-
voirs tributary to these towns. and have thereby
opened w thousands OF acres for settlement
and established farming communities of many
homes. have followed the same plan on which
Greeley. COL was built up where farm land IS
worth $50 to $500 per acre.
From the time the Union Hill Company and
the EdgemOnt and Union Hill smelling com
panies were organized work has never ceased
These united companies in all two
hundred mines near DeadwOod and the Home
stake. n smelter and stamp mill completed and
another stamp mill and smelter in process Of
construction Thousands OF feet OF development
work has been done on these properties al the
cost Of hundreds Of thousands Of dollars. | be
lieve the mines when fully developed and
,rorked viii prove one of the richest having
/ properties I'm the United States Nearly every
stakeholder in each Of the companies has been
out 10 see the property either before or after
| pressed as TO the value Of the property. on the
contrary, In their many personal letters 10 me
and letters to home newspapers, stockholders
/ have expressed their complete satisfaction. NAM
| 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.
ITO all Of the foregoing work ! have given
every moment Of time for seven years !
/ believe have averaged eighteen hours work a
/ day and during all these years ! have not had
a single days vacation. II has been my constant
! and earnest endeavor to bring each Of these en-
! teririses TO the highest point OF profit 10 all the
! stockholders Every dollar of my own money
/ Is invested In this work and the money OF those
/ associated with me. and have felt II based
, on GOOD properties Of increasing value II the
/ years of devotion have given this work NOT
/ crowned with success. | shall be completely
worn out and broken in health and shall lose
every dollar have in the world"