Evening journal., 1904-12-12
CREDITORS
According to Estimates They Will
Get I Ia Mills on the Dollar.
NOTES REACH TOTAL sts,4ss,OOo


Andrew carnegle's Name Signed TO All,
One Of Them Being Deed Of Trust
For s1o24e,ooo - May Escape For
gerry Charge.
Cleveland, o.. Dec. p According to
fle most accurate estimate of the es-
iate of Mrs. Chadwick that is possible,
before the receiver has investigated
her asserts, and reported his findings
to the court, her creditors as a whole
will receive about one and a half mills
on the dollar. What lends additional
interest TO this showing. from the
creditors standpoint is that one man,
Iri Reynolds. will receive the whole
Of the assets visible at the present
time.
Iri Reynolds said Mrs Chadwick told
him she was Andrew Carnegie's illegit-
innate daughter, and he believed her.
He also denied the stories that she
gave her husband large sums Of
money. and said DR.. Chadwick is now
in Europe and penniless.
The extent of her operations is now
believed to be approximately as follows:
Secured from Citizens National
Bank of Oberlin. O., and various
sources in and about Lorain county,
$500 900; borrowed from Herbert B.
Newton, $4,000; borrowed from a
business man in Pittsburg, S5OO,OOO;
total. s1,19O,OOO.
Against this stands securities of
known value on one note amounting
to $500, which is held by Iri Rey-
nolds.
Mrs. Chadwick's alleged securities
are as follows:
Note held by Citizens National Bank
of Oberlln. s5OO,OOO; note held by
Citizens National Bank of Oberlin,
$250,00 note given President Beck
with, s5OO,OOO; note held by Iri Rey-
nolds, S5,OOO.OOO; certificate Of trustee
ship for securities. held by Reynolds
$40, ,246.000; total, SIG, 100000.
With this backing Mrs. Chadwick
was enabled to obtain the loans.
The amount Of money received by
Mrs. Chadwick in Pittsburg may run
as high as 100000. but it is believed
that a portion Of this sum is a bonus
promised by her for an original loan
of at least s5OO,0OO. II her debt in this
direction is 100000, the probability in
sight of the creditors is about one and
one-ffth mills on the dollar. It Is not
believed by any of the attorneys in
the case that the Carnegie securities
will be Of any account whatever. II
they do at any time reveal value Other
than that Of so many cents per pounC
of white paper, the delight of the law
/ yers will be comparable only to theil
amazement and just now they arr
anticipating neither pleasure nor as
/ constituent.
It is the opinion of some Of the lead
ing attorneys of Cleveland that
charge Of forgery cannot be made L
hold in connection with these notes
! They declare that it is not an act o
/ forgery for one person to write tn
name of another, but that the offens
lies in the attempt tc negotiate sucl
a signature for a specific value. This
they say. there is, so far. no evidencI
that Mrs. Chadwick has done. Sh'
has not sold or attempted to sell thl
notes for cash. She has obtaine,
money from various sources, on thl
statement Of Iri Reynolds that she, L
+ the best of his knowledge and belief
held certificates of a certain value. ant
whether he proves correct or other
wise in his estimate of the value o
/ the notes, there can be no doubt tina
/ Mr.. Reynolds believed what he said
There has been, according to the at
torneys, no evidence so far elicite'
/ showing that Mrs Chadwick obtained
money on these notes in any othe
manner than through the attestatiol
/ Of ri Reynolds that he had seen tn
notes and considered them good. I
any man loaned money to Mrs. Chad
wick according to the strength Of hi
belief in the ability OF Mr.. Reynold
to judge accurately Of the value of Sc
curities, then the affair, according t
the attorneys who hold this view o
the case, is one that rests only betweel
the man and his own hard luck. Othe
charges may be brought home to hel
they declare, but in their opinion
will be somewhat difficult to punis
her for forgery in connection with tn
Carnegie notes unless it can be show
that she endeavored to negotiate then
This. apparently, is the opinion of tn
Lorain county grand jury, which faile
to return an indictment against her.