Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1900-01-14

Wing; II don't seem to recall any such
credit at the Globe in favor Of this
bank"
A return visit was made to the Globe
and another examination made, when,
SAD to relate, instead OF the small mat
ter of $3.50, 900, over $500, 900 was found
to be standing against the credit of the
bank which was not charged In the ac-
counts.
Thus a mere accident aided and abet-
ted the further downfall OF the air
castles of the Three C.'s."
This disclosure forced the resigna-
ton OF Mr.. Cole from the presidency OF
the Globe bank, and another straw was
added to the already overloaded back
OF the poor camel.
Things went from bad to worse, all
under the surface, however, and final
ly, to avert a general panic In State
street, the Clearing House was forced
to come to the aid of the Globe Bank.
It's president went away, but was ever
present in the memory Of those who
had become involved in his misdirected
schemes Of financing.
Soon it was discovered that the Globe
Bank situation was even worse than
had at first appeared. 1t closed its
doors, by order of the comptroller of the
currency, and a warrant chaging It's
late president with serious misdemean-
ors was issued for his arrest. He was
traced to Los Angeles, Calf, where he
had sought to evade the press of cred
itors and inquisitive reporters. He will
lingly acquiesced to the requests of the
officers of the law and a brought
back to Boston to stand trial.
Thus came the financial death of
Charles A. Cole, a demise that also took
away his friends and co-laborers, Will
liam H. Coolidge and Edward A.
Clark. These are the men who six
months ago were worth more than
81, $1,000 each. To-day they are prac-
tically bankrupt; their fortunes have
returned from whence they came; their
securities lie upon the bargain u
ter of the stock exchange, and the airy
castles which they builded in their
brief days of power and success have
been d~issipated in the chilling mists of
adversely.
Worse than all this is the sad train
of trouble and loss it has entaiied upon
others who were in no sense partners
in the ambitious enterprises OF the
triumvirate. Not to speak of the many
personal friends and relatives of the
three central figures who have felt
constrained to help them bear their
financial burdens, at least two broker
age firms have been seriously crippled
because of their business relations with
the ex-magnates.
This and the serious disturbance of
the local speculative centre as a whole
served to make the ending of the year
1899 an exceedingly gloomy one for
State street, Boston's financial centre.
The episode has never had a parallel
here, for not even the Maverick bank
failure, about eight years ago. had such
~far-reaching consequences in financial
Boston as has the downfall of the
Three Cs."
And now a brief sketch of these
three men, after which a more detailed
account of their financial operations,
their organizations and re-organiza-
tons Of different mining concerns.
The Three Cs" were, as previously
stated, Charles A. Cole, who is a bank
er; William II. Coolidge, a lawyer, and
Edward A. Clark, a gentleman of
wealth and leisure.
Just now this famous trio happened
to drift into such close business rela-
tons leading to such momentous con-
sequences could probably not be satis-