New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1904-12-14
HER SECURITIES
WITHOUT Value.
CONTENTS OF PACKAGE HELD By
REYNOLDS AS TRUSTEE
WORTHLESS.
Papers Bearing Alleged Signature OF
Andrew Carnegie, Face Value Of
Which Is $&6,4e6,o 900, Worth
Nothing Famous Woman in Jail.

Which Is $&6, 900, Worth
Nothing Famous Woman in Jail.
Cleveland, o., Dec 12.-The Chadwick
bubble burst completely when examina-
ton was made of the mysterious pack
age OF securities LETT with Iri Reynolds
and was found to include paper OF the
face value of s15,246,0O0, which bears
the signature Andrew Carnegie" and
which is regarded as worthless. There
is one note Tor the modest sum of IS, OUO,-
600, bearing the name of the ironmaster,
and the oLner l0,246,000 is represented
by a trust agreement concerning an al
legged inheritance placed in Mr. Carne-
gie's keeping, the estate of a supposed
uncle of Mrs. Chadwick, named Freder-
lex r. Mason. In another packet there
also is promissory note for $1,000,
signed by Emily and Daniel Pine, and a.
mortgage securing the same. This Car
negie paper with the $1,250,o00 in notes
bearing the ironmaster's name, pre-
viously accounted for, bring the total of
this class of securities to SIG, 496, 600.
Claimed Relationship.
Secretary lri Reynolds, of the Wade
Park bank, declared that his implicit be-
lief in the statements made to him by
Mrs. Chadwick, in which she declared
herself to be the daughter OF Andrew
Carnegie, was the impelling cause of
his financial dealing with her.
United States District ATTORNEY Sui
llyan is preparing to begin the work of
presenting to the federal grand jury the
evidence against Mrs Chadwick. Late
Saturday afternoon he issued subpoenas
for the witnesses who are to appear be-
fore the grand jury, which has already
been drawn. The first of these wit
nesses is Andrew Carnegie.
Little for Creditors.
According to the most accurate esti-
mate Of the estate of Mrs Chadwick that
is possible, before the receiver has in
vestigated her assets, and reported his
findings to the court, her creditors as a
whole will receive about one and one
half mills on the dollar
The extent of her operations is now
believed to be approximately as fol-
lows:
Secured from the Citizens national
| bank of Oberlin and various sources in
and about Lorain county O., $500, 900;
borrowed from Herbert d. Newton,
$3.50, 900; borrowed from business man in
Pittsburg, $500, 000-total, 81, 100000.
Against this stands security of known
value OF one note amounting to s., 800,
which is held by Iri Reynolds.
How He Was Duped.
The unequivocal statement is made in
the confession of President BeckWith
of the Citizens national bank of Ober-
lin, o., that the means by which Mrs.
Chadwick secured the immense loans
was by written promise delivered into
the hands of the banker that the Citi-
zens' bank would be made the trustee
| OF the $5,OO0,0O0 estate which has lust
been revealed to the world as an abso-
lutte myth. President Beckwith and
Cashier Spear were to receive 500 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 pack. This complete state
| ment answers fully the oft repeated
question: What in the world actuated
the two officials of the Oberlin bank in
| making the immense loans from the
banks funds without scintilla of ac-
| tual security?''
Mrs. Chadwick Arrested.
| New York, Dec. S-The climax in the
affairs Of Mrs. Cassie L. Chadwick came
| Wednesday night when she was placed
| under arrest in her apartments at the
Hotel Ereslin. charged with aiding and
abetting a bank officer in embezzlins
$4,000 United States Commissions,
/. Shields issued the warrant, which
J charges a violation of Section 5.2O9 Of
the United States federal laws. relatins
to conspiracy
Mrs. Chadwick in Court.
New York, Dec. 9.-Mrs. Cassie L
Chadwick, who was arrested Wednes
day night in connection with the fail
ure OF the Citizens national bank. Of
Cberlin, o., was arraigned before Com
missioner Shields in the federal court
Thursday, and was held In SIS, 900 bail
The case was postponed until Decem
/ Der II. Failing to secure bail she was
taken to the Tombs prison and locked
| in a cell.