The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-12-31
Van COLT ACCUSES GRIDLEY.
POSTMASTER HAS LOST HIS ALL,
HIS LAWYER SAYS.
Has Wills r. Gridiey Of Syracuse. Secre.
tary Of the Defunct National Mer.
camille Agency. and Edna Ranney
Arrcsted-(hargc, Falsifyins Books.

Postmaster Cornelius Van Colt has lost
all the savings OF lifetime" according to
his lawyer. because Of his connection with
the defunct National Mercantile Agency
of which he was president. Willis 7.
Gridley. the secretary and treasurer Of
that concern and Miss Edna Ranney. a
bookkeeper. were arrested yesterday on
Mr.. Van Colts complaint and charged
with forgery.
Gridley If a well-to-do man of Syracuse
and has rich relatives up there. His mother
owns bank. He went to Postmaster
Van Colt about a year ago highly recon-
mended. and Gen BENJAMIN +. Tracy was
one of the men who was supposed 20 think
well enough OF the proposed mercant lie
agency to invest some money in H. Gen
Tracys nephew, F. W. Catin, was made
assistant secretary.
Grdiey was arrested yesterday morning
by Central Office Detective Burke at 27l
Broadway. where the agency formerly did
business. He was taken To the Tombs
police court where he was represented by
Lawyer Morris l. Price. also Of ?7l Broad
way. Mr.. Price whispered something
to Magistrate Pool and then the latter
led all hands into his private Office and
locked both doors.
Twenty minutes later they emerged
and Mag strate Pool made this remark
Il have instructed the detective and
everybody concerned not to say a word
about this case and have held Mr. Grid
ley in 5000 bail for Z animation on Jan.
on the charge of forgery
DIR, Herman Hellenstein of ?75 Seventh
street furnished the bail.
Edna Ranney was arrested at her home
in Syracuse by Detective Linden and
brought here on West Shore train last
might. They were met at Weehawken
by W A. Shepard, who has an Office at
80 Nassau street and who says he 10 friend
of the woman, and who gave bail for her
at Magistrate Pools house, 2o7 West Seven-
ty-ninth street. She went to Brooklyn to
be the guest of the Rev. ". South
erton of the Baptist Temple who was for
mery her pastor in syracuse.
The charge against Gridley and Miss
kanney is that she under his direction,
ialsified the books Of the National Mercan-
tile Agency in such a way that they showed
that MIR. Van Colt owed the concern IS 600
when a. a matter of fact, according to Mr.
| Hess, the company owed MIR Van Colt
| Sis,Uo.
The warrant on which the arrests were
made charge a violation of Section Sis of
| the Penal Code on July 81 last. The amount
Involved by the alleged tampering with
the books was SCI 100.
We don I accuse the prisoner of embezzle-
ment or larceny, said Mr. Hess yestar-
day with considerable emphasis, but with
falsifying the accounts. which, according
| to section SIS, il forgery. They simply
tWiafal a crs,lit IA, Mr. Van o. ,s.
favor into debit account against him.
Inc scheme was To get Mr.. Van Colt
out OF the way as creditor 80 that tiridley
and his family who are preferred creditors
could get all there is left of the asse, $
Of the National Mercantile Agency
MIR. Hess then issued on behalf of Mr..
Van Colt typewriter statement which
says:
Postmaster Van Colt about a year ago was
invited TO become director in the Nationa!
OF the Dun and Brad street mercantile agencies
The principal preferred stock holders in the
concern were the defendant. Willis T. Gridley.
residents OF syracuse Mr.. Van Colt, on
account OF his ,wel-known standing in tn.
community and hi; reputation as an orn--
the position. relying. as he had a. right to. on
others who were supposed to be practical
ment and the details Of the concern These
people. unfortunately. were the friends OF
the defendant. The venture did not turn
soon became nece ssarv for the company 10
borrow money. Mr.: Van Colt. having i'm
plci; confidence in the defendant. Willis /.
indorsed number Of notes in his individual
name with Gridey which were either sold or
have been paid into the treasury OF the com.
pany.
Because Of the gross Encouragement of
thoss who undertook TO manage the details
OF its affairs the concern became insolvent
and in July last an involuntary petition in
bankruptcy Was hied against T. About the
indorsed by Mir Van Colt and Mr. Gridiey s
came due. and up to date my client has been
obliged Ito to pay on, LIES ssvinss1ppward
still outstanding unpaid about $4,000 worth
OF paper containing the Endorsement Of Mr.
Z he defendant Gridlry IL just as liable az Wr
Van Colt for his Endorsement. and is , eli
able to pay and is, con sdered a rich man. he
accuse Mr rdsv Of d FRY I'm S tRa boo We
keeper to falsiiiy the hooks of the company
false entries showing thereby that Mr. Van
Colt was de btor in the sum OF nearly 81. 600
when In fact he was a creditor for upward OF
Mr.. Van Colt neither directly nor indirectly
benefited IN this scheme to the extent of a
single dollar, and never even received any
part OF his salary, which was nxed at IS 900
year.
or the "a, on worth Of notes Endorsed bv
Postmaster Van Colt and Gridley and stiIl
outstanding, one for 81, 900 IL held bv the
defendants bro' her and one for 81. 400 is
held by the salt Springs Bank Of Syracuse
which, according 10 Mr.. Hess, Is practically
owned by t,ridley's mother.
I'VE don't know where this S27 900 has
gone continued Mr.. Hess, but an expert
Ia on the books now. Miss Ranney ad-
mi'ted at a Meeting of the directors that
she made the chances In the books he
cause Gridley told her TO. And Gridley
said at the first creditors meeting that
he would 20 into bankruptcy himself II
Van Colt tried to make him pay his share
of those notes.
The only statement that Gridley's law
yer would make WAS:
The arrest is an outrage and the result
Of Mr.. Van Colts being III advised by rela
tivos, One Gridley can buy out dozen
Van Colts"
SYRACUSE, Dec, 3O-Wllis T. Gridley
is an attorney. the son Of d Webster Grid
lev of this city whose wi inherited the
bulk OF the millions Of Daniel Gates of
Chittenango. her father He and his
brothers received a generous portion of
the estate. Francis ". Gridlcy, a brother.
was until year ago president Of the Salt
Springs National Bunk Of this city but was
forced out by personal financial embarrass-
ments, DR., Gcorre Gridley, a brot her Of
Willis and State Senator-elect Francis H.
Gates Of Chittenango. his uncle, left for
New York this aft ernoOn.
Mr.. Gridley, the elder said tonight that
Post mast Van Colt wna as much -.