Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-04


OF 10000 Of the banks funds. has been
engaged IN noat!nx the stocks, bonds. ana
mortgages of his western enterprises
among investors In the East, not less
than 81 100000 has been realized.
Intimately associated with Mr.. Grabie
has been w. X. Kurtz, formerly OF Kan
sas City and Omaha. and now OF New
York.
The principal Investors in the specula-
tions OF the two men are located In Phila-
delphia. New Jersey, Connecticut, Massa-
chusetts, and New York. Connecticut
furnishes the longest list, although the
amounts there will be smaller than those
in Philadelphia and New York. In that
State specially vigorous effort was
made to interest small holders TO invest.
A large number OF school teachers ana
ministers invested
SUITS AGAINST CRADLE.
OMAHA. NEB., February 3.-Suits were
started to-day. and attachments issued
against the property of Francis c. Gra-
BILE. The house and stable, with their
furnishings and equipments. are listed az
$50 900. Marcos l.. Parrotte, OF Omaha,
Cradles resident agent. sues for $500;
Francis G. Hamer. OF Kearney, attorney,
sues for s47o0. and George H. Scripps
sues for $4,000 or a note.
The mail brought deeds from New
York, transferring some of CRADLES local
property to j. VI. c. Walker, OF Scott
City, Kan.
QUAKER CITY VICTIMS.
PHILADELPHIA, February 3.-The
gentlemen in this city who are inte-
rested I'm some of the mining enterprises
which were promoted by Francis Cradle,
the man who obtained nearly 100000
from Cashier Quinlan, of the Chemical
National Bank, Of New York, state that
they have no particular interest now In
Cradle or his doings. Ex-Governor Pat
tison. president of the Edgemont and
Union Hill Smelling Company was seen
this afternoon at the office of the COM
pany where he was in consultation with
several OF the directors.
President Pattison stated that Cradle
had not been connected with the Union
Hill or Edgemont companies since Sep
tember last. These companies on Ian
uary l1th consolidated under the name
of the Edgemont and Union Hill Smelling
Company, at which time ex-Secretary-of-
the-Navy Benjamin f. Tracy retired
from the Office OF vice-president OF the
company. Percy s. Bickmore, of Phila-
delphia, was then elected secretary. Mr.
Pattison said at least $50 Of the 800 stock
holders are PhiladelDhians, while the
greater number of the other stockholders
are located in New York and Connecticut.
He said Cradles actions could in no way
involve the company. which was now
proceeding with its affairs.
One OF the directors of the company
made the following statement, which was
approved by President Pattison:
ONLY A PROMOTER.
Mr.. Cradle" he said, "acted only as
promoter of our company, and since last
September he has had no connection with
it whatever. Shortly before that time
we purchased 200 claims held by him
for stock, valued at 81 500. 900, but since
then all Of the stock has been purchased,
and the company can in no way be in
volved.
"Por years Cradle was interested In
number OF building and mining enter
prises. which have from time to time,
paid the investors holding the shares. divi-
dends as high as 63 per cent. He formed
the Edgemont Company, land and build
ing concern, and was also interested In
tract of 1900 acres at Fort Collins,
Col. He had an irrigation plant there.
and similar enterprises in South Dakota
and Nebraska.
"a number of years ago he was con-
nected with the Chicago. Burlington and
Quincy railroad and was engaged in
locating town sites In Northwestern Ne
braska and South Dakota. Ne established
more than 500 sites I'm these States.
"He came to this city highly endorsed
and strongly recommended by bankers,
merchants, and businessmen throughout
the West. Many invested In his schemes:
All the investCE 'aho became Interested
visited his property and made thorough
investigation. All who inspected 1t saw
no reason TO change their opinion. Be
fore the Edgemont and Union Hill Smelt-
ing Company WAS organized, we had ex-
perts to visit the locality, and they re-
ported in it's favor.
at is the general opinion here that Mr..
CRADLES troubles have been caused by
the fact that he has over-extended his
capital in the many enterprises in which
he was Interested"
WRIT OF ATTACHMENT.
George A. Fletcher. one Of the directors
of the Edgemont and Union Hill Com
pany. to-day, in the Common Pleas Court,
obtained a writ of foreign attachment
against Francis c. Cradle. for $4,000. ).
Wesley Supplee, of the Corn Exchange
Bank. and John III. Graham were named
as the garnishees. Bail was fixed at
$50 900.