Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-07-30
AN OLD TRICK
Successfully Worked and SWIM
dIer OFF for South America.
Edw. [. Swazey Of Kansas City
Wanted by the Police
fes oupliealiae eilisii's Old Scheme Of Twice
mertsssinS Cattle.
lgsysxtL

Kansas City, No.. July ga war
rant has been issued for the arrest OF
Edward L. Swazey, charging him with
intent to defraud by selling to the
Third National Bank OF Springfield.
Mass. a mortgage of $725O on 26l head
Of cattle owned by j. II. Kenney OF
Hemphill county. Texas. 1t is alleged
that Swazey represented that the mort
gage was a first lien. whereas. il was
a second lien. III true the operation is
identical with those pursued by Grant
Gillett, the Kansas plunger. who ie-
mortgaged cattle TO the amount Of over
1000 600. Gillett crossed to Old Mo-
leo. where he has since resided.
According to a correspondent Of the
Office OF Bankers and Cattle Merchants
Protection Association the Swazey ir-
regularities approximate $4,000. Until
the time Of its financial collapse, three
months ago. Mr.. Swazey was a member
OF the local commission of the firm of
Ladd, Penny & SwaZey. The firm did a
general cattle commission business at
the stock yards. The loss is said to be
generally distributed among banks,
some of them in the East. so that it is
not heavy on any one person or con-
Germ.
Swazey is we'll known in Kansas city
and through the cattle country west of
here, having been in the business for
many years. He is said to be on board
the steamship Hermase, sailing Toy
Buenos Ayres. South America. having
gone on board. July 5, just two hours
ahead of Detective Kirk. who followed
him from Kansas City to New York
armed with a warrant which was is
sued here by the authorities.
At the time of the failure of the cat
tie firm of Ladd Penny & SwaZey. il
was impossible to discover the amount
involved especially as the company did
business over such a wide range OF
country Three days afterward in
quiries began to come in. and simulta-
neously. reports of the mental as well
as the physical collapse of the junior
member of the firm.
Thomas L. Ladd, senior member of
the firm, makes the following state
ment: Il do not know the present
whereabouts of Mr.. SwaZey, but have
been informed, upon what seems to be
reliable authority, that he has left for
South America If it is true. l cannot
account iOI Ills uo iioA w
lieve Mr. Swazey has done anything
criminal AS far as we know a present
his books are all straight and we have
no reason to suspect that he had been
in any way dishonest with the firm.
mfr Swazey was the financial man
of the firm. He handled all the paper
and had exclusive control of that de-
partment of the firms business. In
the latter part of June we discovered
that we had become overloaded with
paper, and ii was then that Mr.. Swazey
informed us of certain big loans made
In Oklahoma which proved to be bad.
This was a short time before his mind
collapsed which | believe was caused
from worrying over these bad loans.
His failure To inform us of the threat
ened financial crisis was probably due
TO his proud disposition rather than
any intentional wrong.
soon after Mr.. Swazey suffered
these collapses of his mental faculties,
ne was taken to Chicago. | later heard
that he had been placed in an asylum
in Maryland"