The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-12-05
GOVERNMENT WILL
PIERCE MYSTERY
Continued from First Page.

missioner Starek for preliminary hear
ing of the warrant sworn out charging
them with disappointing the funds
of the bank. Both men waived prelim-
mary trial, and were bound over to the
grand jury, which meets in February.
Immediately after hearing, President
Beckwith declared that he would not
be able to provide bond. Cashier Spear
sent out messenger in quest of bond
men.
: The bank officials having waived a
preliminary trial, no witnesses were put
on the stand. Hence Receiver Lyons
pected would be called upon to state the
nature and value of the collaterals
found by him, did not testify.
The arrests Of Beckwith and Spear
are the first that have been made in the
Chadwick case. The Citizens National
bank, with which they are connected, is
Mrs. Cassie L. Chadwick. The bank is
capitalized at 100000. ~~,
&,l:.-.... Hope for Payment ~s.~
Since the disclosure of the bank 3
dealings with Mrs. Chadwick, the presi-
dent, the cashier and the directors have
held confe ere and 1, meetings frequent
pressed by President Beckwith at least
hope of a reimbursement Of the bank g
loan to Mrs. Chadwick, but 80 far as
known no remittance has been received.
President Beckwith has been in a
state bordering on physical collapse for
or four days he has been confined to his
bed. He has expressed the most regret
over the outcome of the bank g dealings
with Mrs. Chadwick, but has given no
intimation as to why such great sums
of money have been loaned from the
bank to Mrs. Chadwick.
Refuses to Explain.
When asked to explain how the trans
actions were brought about, Mr.. Beck
with declined to make any statement
and contented himself with assuring his
questioners that he was hopeful Of a
settlement in full Of Mrs. Chadwick 3
loan.
The warrants on which Beckwith and
Spear were arrested charge them with
violation of the federal banking laws.
Now that the crisis has come, the
depositors Of the closed bank evince a
feeling of relief, because, as one of
them said today:
"We will now. know the, truth con-
BANK
On the other hand, many Of the de-
pOsitors declare that the arrest of Beck
with and Spear is positive evidence that
there are no securities in the bank to
cover the loans made to Mrs. Chadwick
and as a result the depositors will lose
everything.
Has Son Her Jewels?
Emil Chadwick, son Of Mrs. G. L.
| Chadwick, arrived here today from New
York on the Lake Shore Limited. young
Chadwick refused absolutely to. discuss
his mothers troubles. Chadwick car
ried small valise, which, according tc
New York dispatches, containing his
mother g iewelry. The young man re-
fused to say whether or not the valua
bles were in the .valise.--~.-.--
Borrows Large Sums. -. .,~
There is no means of knowing JUS
how much money Mrs.. Chadwick ha.
borrowed by telling the several storie.
already referred to. But here is lis1
Of the debts which are being pressed
for settlement at the present time:
Herbert D. Newton, Brookline, Mass;
$3.50, 800. ,~,,..,s :..: -.. -. !. 81 :
Citizens National. bank, obe1l1n, Ohio
s240, o0O.e o.. 49, 3 -. -. T..
c.. A. Beckwit1, president Of the Citi
zens' National bank at Oberlin, Ohio (per
sonal loan), 100000. - ~. .f.-3.,.@-r
American Exchange National bank
Cleveland, OHIO, $4,000. IL - J. r.,
Euclid Avenue Savings and Trust com
lpany, Cleveland, Ohio, 5000. ~ 4 -
Savings Deposit bank, Elyria. Ohio
$1,000 VIII E1==:t s4z.S ::
| j. D.. Chadwick, Franklin Pa, $4,000.
! These, claims foot up to a total O.
$618, 800. There may be more. Mrs
Chadwick s. attorney admits. she owe
a million dollars, and perhaps more
All this indebtedness is based xon mys
FERROUS -seeurity-so mysterious tina
bankers who have seen it declare the,
would rather die than describe It.,