The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-11-08


time that he was short of ready cash.
This fact was substantiated some DAYS
before his arrest, when he induced
William H. Egan to furnish 500 with
which to purchase coal for use at the
Ernst and Manner buildings.
Just what has become of the thou
sands of dollars intruSted to him Tor
investment is a question which is puz-
zling many people. 1t is admitted tnaC
though he is said to have guaranteed
to pay per cent interest on the
amounts.
If Mr.. Ernst has been victim OF
the stock market, it is not generally
known, and, while he was high l1v-
err" it was not possible for him to have
squandered all of the money in SUCH
manner. His fondness for friendly
game of poker was quite we'll known,
but none of his intimates will admit
that he ever played for stakes suffl-
GENTLY large to embafrass him in any
| manner.
Since Mr.. Ernst took up his resi-
| dence on Summit avenue, and for some
time before this, when he lived in a
more modest home on Harrington ave
nue., his living expenses are SAID TO
have been very high.
Carriages and servants were a ne
flowed freely at his home.
Not Society Man.
Even though Mr.. Ernst was consid-
cred most successful financler, and
though he took up home on the most
exclusive thoroughfare in the city, ne
was not what might properly be call
ed society man.
The family. was not known in the
most exclusive set. although living
among the members of it, and the en-
tertainments at tho Ernst home, while
brilliant, are said to have been very
democratic.
The fall of Casper Ernst, however, is
no more sensational than his rise
Only a few years ago clerk in an
abstract office, he steadily climbed the
rounds of the financial ladder until,
before his arrest and the recent dis
closure of his alleged crooked methods
of doing business, he was considered
one of the shrewdest financiers in the
city.
From a clerk on small salary he
had become the owner of mammoth OF
flee blocks, and his name was connect
ed with the city's most substantial
fnanciers.
only during the past few years,
however, has the name of Ernst become
familiar one in st. Paul.
PenniIess Fifteen Years Ago.
Fifteen years ago, when he came to
st. Paul, he was practically pennlless
He secured a position as a clerk in an
abstract Office which was then con-
Quoted by Jacob Manner.
After working at this employment
for a time, he secured position in the
office Of the abstract clerk, but work.
ing for a small salary was not to his
liking. He was at that time shreWd
young man, and his ability to engineer
a financial deal soon became recog-
nized. He saved some money and left
the city for a time.
A few years ago he returned to the
city, but this time, instead of working
for other people on salary, he opened
a loan office and went into business for
himself. AS the business grew he
commenced dealing in bonds and mu-
nicipal securities.
He soon became recognized as fac
tor in the financial circles of the city,
and while some comment was made
upon his ability to purchase the Ger
mania Bank building, which he bought
year ago for $4,000, he had figured
in some previous trapsactions involv-
ing large amounts, and no great sur
prise was expressed.
Previous to the purchase of the Ger
mania Bank building, the name of
which he later changed to the Ernst
building, he had purchased the Main
ger building, on Wabasha street, and
the word was passed around that Cas-
per Ernst was rapidly becoming very
wealthy.
Moves to Summit Avenue.
Finally his home on Harrington ave-
nue. was abandoned and he and his
wife took up their residence on Summit
avenue, having leased the Jacob DANTE
home.
Only few months ago the Ernsts
moved into this house, which is fur
nished in a most costly manner.
Mr.. Ernst so carefully guarded his
financial difficulties that until month
or so ago no one dreamed but that he
was the substantial financier he repre-
scented himself to be.
Some time before his arrest upon
the charge of forgery and embezzle-
ment there were rumors afioat that he
was on the verge of ruin, and his
financial downfall was not unexpected,
although the serious charges made
against him by Father John B. Metzler,
the Chippewa Falls Catholic priest,
who had him arrested, created a Sensa-
ton.
AS the amount charged in this en-
bezzlement was but $500 Mr.. Ernst
had no trouble in securing ball. but
since his arrest the apparent magni-
tude of his transactions caused his
bondsmen to become frightened and he
was surrendered to the sheriff last
Thursday.
His preliminary hearing is set for
Nov, II, but the grand jury, which
meets tomorrow morning, will take up
the matter and make thorough in
vestigation of the charges made
against Mr.. Ernst.