The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-12-11
Operations Of Mrs, Chadwick
Found to be StuptRdOus
BIG REWARD WAS PROMISED
oberlin Bank Was to Be Made Trustee
for the Immense Sums the Woman
Claimed to Have In Her
Possession.

Cleveland, December 1o-A special from
Oberlin, o.. says:
The confession of President c. r Beck
with of the wrecked Citizens National
bank of Oberlin, now in the possession
of the federal authorities. is a story so
startling with relation to the monumental
transactions of Mrs. Chadwick as To be
almost unbelievable.
The unequivocal statement Is made in
the confession of President Beekwith that
the means by which Mrs. Chadwick Sc
cured the immense loans was by a writ
ten promise delivered into the hands Of
the banker that the Citizens bank would
be made the trustee of the s5,oo0o0o estate
which has Just been revealed to the world
as an absolute myth.
The written promise delivered by Mrs.
Chadwick to Beckwith was to the ef-
feet exactly that her effects would be
turned over to the Obern bank July l.
1903. In consideration therefor. President
! BeeSwith and Cashier Spear were to re-
ceive $4,000 a year each for their trouble.
In addition the bank was to be given a
bonus of close to $4,000 when the loans
had all been paid back.
The statement answers the question:
what actuated the two officials of the
oberlin bank in making the immense
loans from the banks funds without a
scintla of actual security9'
Relative of Andrew Carnegie.
| The story of how Mrs. Chadwick
| played with the two bankers after hav-
Ing them once in her power, as told by
Beckwith, is absorbing. Mrs. Chadwick
Gained the fears of her victims with
the claim that she was a relative of An
drew Carnegie.
The written confession of Beekwith
goes into detail of the explanation made
by Mrs. Chadwick as to the manner in
which the estate was then being nam
died The Wade Park Banking company
of Cleveland was used simply as n de-
pository for the securities. according to
the tale that the Cleveland woman made
the bankers believe. The estate was said
by Mrs. Chadwick to be in the hands OF
three trustees, all New York men. The
name Of one of them was given as Will
liam Baldwin. Mrs Chadwick said she
could not get hold of the money except
through Baldwin whom the banker now
believes to be a mythical person.
Baldwin attended to all the business OF
handling the interest from the bonds,
It became due. The bankers were told
! that the yearly income was $4,000. Re-
peated efforts were made on the part
of Becl<wlth to get into communication
| with Baldwin. but they were always un-
| successful. An excuse was always ready
| when inquiry concerning Baldwin was
| pressed
Were to Become Trustee.
The Oberlin bank was to be made the
sofa .P . he oata L.
tract with the then alleged trustees, was
ended, which said to be July 1, 1903
| When July ] of last year came around
| matters were said to be in such shape
| as to make 1t necessary for the estate
| to remain in the same hands for some
little time. longer. With the end of their
| troubles in sight and a golden harvest
| within grasp, as the Oberlin bankers
| believed, they were put off to commence
| upon a period of torturous anticipation
which ended with the closing OF tho
doors of the institution and the arrest
| OF both the president and cashier.
In relation to the endorsement of the
notes by Beckwith and Spear the story
from the banker goes to relate that
the notes were endorsed only a last
resource in the desperate chase for funds.
He confessed that he had intended to
attempt to negotiate loans upon the note,
but his nerve failed him. The endorse
ments were put off II was explained.
TO make the paper more Dankdple
The confession practically tells story
of how the Oberlin bank had been used
as clearing house for Mrs. Chadwiclxs
manipulations. One instance is that of the
5000 note held by Y. l.. Fay and Henry
} Wuerst of Elyr1a. The note was given by
Mrs Chadwick to Fay and Wuerst with
diamonds as security. They pressed for
payment and finally threatened TO sell
the Jewels. In her dilemma the woman
appealed to Beckwlth. Both were of the
opinion that the sale of the diamonds
would cause talk and endanger the plans
that had been made. Beckwith settled the
problem by taking up the note. giving his
personal note instead a note which he
later took up by paying the cash.
Threatens to XIII Himself.
Cincinnati. o.. December 1o.-An oberlin.
O.. special says
In his statement of his dealings with
| Mrs. Chadwick. President Becl<with told
of repeated visits to Mrs Chadwick
when promises were made that the money
would soon be forthcoming Finally w.
| b. Bedortha, attorney for the Oberlin
bank on his deathbed. told several direc-
tors Of the bank that President Beck