The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1904-12-13
WILL PAY LESS THAN ONE ANpl
HALF MILLS. IN
LOANS REACH sI,l9o, ,o0|l|||l| \
Mrs. chadwick's Attorneys Say Their|
Client Cannot Be Convicted
Of Forgery.

Cleveland, Co., Dec. 11.-Accordin&
to the most accurate estimate Of the
estate of Mrs. Chadwick that is pos
sible before the receiver has investt-
gated her assets and reported hiH
findings to the court, her creditors al
a whole will receive about one and
One-half mills on the dollar. What
lends additional interest to this how.
ing from the creditors standpoint ia
that one man, Iri Reynolds, will re-
ceive the whole of the assets visible
at the present time. There may be
funds in reserve somewhere, as ther0
MY be additional creditors who have
not yet announced that Mrs. Chadwick
is indebted to them, but it is not ex-
pected by bankers and attorneys on
this city who have the best knowledge
of her affairs that any more large
loans will be developed.
The extent OF her operations is now
believed to be approximately as fol-
lows:
Secured from Citizens National
bank of Oberlin and various sources
in and about Lorraine county, Ohio
$5O0,OOO.
Borrowed from business men ina
Pittsburg, $5OO,OOO.
Borrowed from Herbert D. Newton
$4,000.
Total, $1,19O,O0O.
Against this stands securities oi
known value on one note amOuntinaX
to $1,S00, which is held by lri Reyd
nolds.
f, The amount of money received by
| Mrs. Chadwick in Pittsburg may run
as high as 100000, but it is believed
! that portion of this sum is bonus
promised by her for an original loan
of at least $5O0,000. Her creditors
there figures that she is indebted t0X
him for the larger amount, while She
has admitted that she owes $500, COD.
! Ii her debt in this direction is $8OO,-
900, the probability in sight of the.
creditors is about one and one-half Oh
one-fifth mills on the dollar
1 It is not believed by any of the al
torneys in the case that the Carnegia.
securities will be of any account
whatever. If they do at any time n.
veal value other than that of SO many
cents per pound of white paper, the.
delight of the lawyers will be com
parable only to their amazement, and
just now they are anticipating neither
pleasure nor astonishment.
Grand Jury Will Investigate.
The case of Mrs. Chadwick will to.
( morrow be brought before the grand
! jury of Cuyhoga county. The invests
cation will extend only to the alleged
forgeries of the Carnegie notes and q
report from the jury is expected mott
later than Tuesday.
1t is the opinion OF some of the lead
ing attorneys of Cleveland that =
charge of forgery cannot be made t0|
hold in connection with these notes.
They declare that it is not an act OIL
forgery for one person to write thel
name of another, put that the offenseI
lies in the attempt to negotiate such 81
signature for specific value This,
they say, there is SO far no evidences
that Mrs. Chadwick has done. SheI
| has not sold or attempted to sell thSj
notes for cash. She has not said that
she would be glad to obtain money!
| in exchange for them. She has OBJ
tanned money from various sourceS|
on the statement of Iri Reynolds that
she to the best of his knowledge and
| belief held securities OF a certain
value, and whether he proves correct3
or otherwise in his value of the nOtea
there can be no doubt that Mr.. Rey
nolds believed what he said.