New-York tribune., 1902-12-31
RUINED, SAYS V4N COIT
Postmaster Charges Mars and Uomdn
U7th Forgery.
SAYS HE PUT HIS LAST CENT IN AGENCY

As a result of an unfortunate business vent
ure. TO meet the losses Of which Postmaster
Van Cott's counsel says the postmaster has paid
out more than $4,000. every dollar he had In
the world, charges of forgery have been made
by the postmaster against Willis 7. Gr1dley, a
lawyer and Miss Edna Ranney. both Of SYRIA
cuse. II is alleged by Mr.. Van Cott that ar
GrdIey's order Miss Ranney falsihed the books
of the National Mercantile Agency. whose Of
fees were at No. 271 Broadway Gridleys intent
is alleged to be the concealn1ent Of the misap-
preparation Of S21, 1856 81. Gridley arraigned
yesterday in the Tombs police court and held in
$4,000 bail. Miss Ranney arrested in SYRIA
cuse yesterday and was expected to arrive here
late last evening IN charge Of a detective
Charles A. Hess Mr.. Van Colts counsel, made
a statement yesterday afternoon. About year
ago Postmaster Van Cott was elected president
of the National Mercantile Agency. The prin-
cipal stockholders were Gridley, his mother and
other members Of his family. The venture did
not turn out favorably as had been hoped.
and the concern had to borrow money. For this
Mr.. Van Cott, jointly with Gridley, indorsed
notes to the amount Of $4,000 which were sold
or discounted. The proceeds were supposed to
have been devoted to building up the business
of the company. The business did not prosper
any more after the notes had been made than 1t
had before, and IN July an involuntary petit
ton in bankruptcy was filed against the COM
pany At that time the notes came due, and
Mr. Hess says that up to the present time Mr.
Van Cott has paid $4,000 TO meet them Grid
ley, although joint indorser Of the notes. Mr..
Hess AYERS, has steadily refused to pay any
thing toward meeting them. There still remains
about $4,000 worth of these notes to meet
Mr. Hess went TO say that though Gr1dley
was a wealthy man he not only trying 10
avoid paying his share OF the notes. but also
to gobble all the small assets Of the company
and to bankrupt Mr. Van Colt. To that end
Mr. Van Colts counsel charges. Gridley ordered
Miss Ranney to falsify the books so as to make
them show Mr.. Van Cott to be debtor in the
sum Of $1,000 instead OF a creditor to the ex-
tent OF $4,000 and over
Mr. Hess said further:
Mr. Van Cott is personally unable to pay this
remaining 5000. but it VIII be paid Inc reason
that we did not have Gridey arrested before tnlS
is that could do nothing until the pannru}foy {i
proceedings came up in court " men Ine
Of the creditors held last July Gr1dIey adnt-
ted that he had ordered Miss Ranney to faISlIy
the books, and said that MI van LOU ~
force him to pay any of the notes he wouI1 go
into personal bankruptcy. As far as We kh9"
at the meeting bit said she had been ordered 70
do so by Ciridley. OF the $1,000 in outstanding
notes one for 5000 Is held oy the motneS oI IG
Bank of Syracuse One for & 400 is held 3y tne
DEFENDANTS brother George H. Grtdley, the re-
Citv men whose names I do not care 10 disclose
Grfdley and his family are rich Ihey own oalhS As
and real estate in syracuse ana are Ee[y SIy T
Colt very well recommended, and my client had
great faith in him.