The Muskogee cimeter. [volume] (Muskogee, Indian Territory, Okla.) 1901-19??, 1904-12-15
BEckwlrH's STARTLING STORY
Report From OberIin That Can Scarce.
ly Be Credited

The confession of President Beck
with of the wrecked Citizens Nationa
Bank Of Oberlin now in the possession
Of the Federal authorities, is story
so startling with relation to the monu-
mental transactions of Mrs. Chadwick
as to be almost unbelievable.
The unequivocal statement is made
In the confession of President Beck
with that the means by which Mrs.
Chadwick secured the immense loans
was by a written promise, delivered
Into the hands of the banker, that the
Citizens bank would be the trustee
of the $5,OOO,O00, which has just been
revealed to the world, as an absolute
myth.
The written promise delivered by
Mrs. Chadwick to Beckwith to the ef-
feet exactly that her affairs would be
turned over to the Oberlin bank July
!, 1903. In consideration thereof, Pres
ident Beckwith and Cashier Spear
were to receive $4,000 year each
for their trouble. In addition the bank
was to be given bonus of close 10
100000 when the loans had all been
paid back.
The story Of how Mrs. Chadwick
played with the two banks officers,
after having them once in her power,
as told by Beckwith, is absorbing. Mrs.
Chadwick calmed their fears with the
claim that she was relative of An.
drew Carnegie The written confession
of Beckwith goes into detail of the ex-
planation made by Mrs. Chadwick, as
to the manner in which the estate was
then being handled.
The Wade Park Bank of Cleveland
was used simply as depository for
the securities, according to the tale
that the Cleveland woman made the
bankers believe.
The estate was said by Mrs. Chad
wick to be in the hands of three trus-
tees all New York men. The name of
one OF them was given as William B.
Baldwin. Mrs. Chadwick said she
could not get hold of the money ex-
cept through Baldwin, whom the bank
er believes to be mythical person.
Baldwin attended to all the business
Of handling the interest from the
bonds and turned it over to Mrs. Chad
wick as it became due. The bankers
were told that the yearly income was
S750,000. Repeated efforts were made
on the part of Beckwith to get into
communication with Baldwin, but they
were always uncussessful. An excuse
was always ready when enquiry con-
cerning Baldwin was pressed.
The Oberlin bank was to be made
the trustee of the estate as soon as
the contract with the alleged trustees
was ended, which was said to be July
!, 1908. When the first day of 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 time long
er. With the end of their troubles
right in sight and n golden harvest
within their grasp. as the Oberln
bankers believed, they were put off to
commence upon period of tortuous
anticipation which ended with the
closing of the doors of the institu-
Ion and the arrest of both the presi-
dent and the cashier
In relation to the Endorsement of the
notes by Beckwith and Spear, the
story from the bankers goes on to re.
late the notes were indorsed only as
last resort in the desperate chase
for funds. He confessed that he had
Intended to attempt to negotiate
loan on the note, but his nerve failed
him. The Endorsements were put on,
it was explained, to make the paper
more bankable.
The confession practically tells n