The San Francisco call., 1904-12-12
CHADWICK
CREDITORS
IN GLOOM
WOman'S ESTATE"
to Yield but
Little.
May Pay Total Of One and
One Hall Mills on
the Dollar.
Lawyers Express the Belief That She
Cannot Be Convicted on a
Forgery Charge

Forgery UldIg0
CLEVELAND. Dec. 11.-According
to the most accurate estimate of the es-
tate of Mrs. Chadwick that Is possible
before the receiver has investigated her
assets and reported his findings to the
court, her creditors as whole will re-
ceive about one and one-half mills on
the dollar. What lends additional in
terest to this showing from the credit
ors' standpoint is that one man. Iri
Reynolds, will receive the whole of the
assets visible at the present time.
There may be funds in reserve some
where, as there may be additional cred
itors who have not yet announced that
Mrs. Chadwick is indebted to them,
but it is not expected by bankers and
attorneys of this city. who have the
greatest knowledge of her affairs, that
any more large loans will be developed.
The extent of her operations is now be-.
lieved to be approximately as follows:
Secured from Citizens National Bank
of Oberlin and various sources in and
about Lorain County Ohio, s500,00
Borrowed from business men in Pitts
burg, 100000.
Borrowed from Herbert D. Newton
$50 0OO
| Total, 81 10000.
| Against this stands security of known
value on one note amounting to $500,
which Is held by 1ri Reynolds
THAT PTTTsBURG LOAN.
The amount of money received by
Mrs. Chadwick in Pittsburg may run
as high as $S00,000, but it is believed
that a portion of this sum is a bonus
promised by her for an original loan of
at least $500. 900. Her creditor there fig
ures that she is indebted to him for the
larger amount, while she has admitted
that she owes 100000. If her debt in
this direction is sSOO,OOO the probability
in sight of the creditors is about one
and one-fifth mills on the dollar.
1t is not believed by any of the at
torneys in the case that the Carnegie
securities will be of any account what
ever If they do at any time reveal
value other than that of so many cents
per pound of white paper. the delight
of the lawyers will be comparable only
to their amazement. and just now they
are expecting neither pleasure nor as
| tonishment.
The case of Mrs. Chadwick will to-
morrow morning be brought before
| the Grand Jury of Cuyhoga County.
The investigation Will extend only to
the alleged forgeries of the Carnegie
notes and a report from the jury is
expected not later than Tuesday.
It is the opinion of some of the
leading attorneys of Cleveland that
! charge of forgery cannot be made to
| hold in connection with these notes.
They declare that ii is not an act of
forgery for one person to write the
name of another, but that the offense
lies in the attempt to negotiatessuch
! a signature for a specific value. This.
they say, there is so far no evidence
that Mrs. Chadwick has done. She
has not sold, or attempted to sell, the
notes for cash. She has not said that
she would be glad to obtain money in
exchange for them. She has obtained
| 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 prove correct or otherwise
in his value of the notes, there can be
no doubt that Reynolds believed what
he said.
The loan of ss0O,00O said to have
been received by Mrs. Chadwick in
| Pittsburg, or from man residing in
/ that city, is declared to have been
made TO her by multimillionaire
manufacturer of that city. Mrs.
! Chadwick, in discussing this state
} ment, declared that she did owe him
$500. 600, but not SS0O,0OO, as had
J been claimed.
/! CLAIMED CARNEGIE AS FATHER.
Secretary Fri Reynolds of the Wade
Park Bank declared tonight that his
, implicit belief in the statements made
: 10 him by Mrs. Chadwick, in which
! she declared herself to be the daughter
&! of Andrew Carnegie, was the impeliing
! cause of his financial dealings with
| her.
She told me-" said Reynolds, that
! she was the illegitimate daughter of
| Andrew Carnegie and 1 believed her.
/ I never doubted her story until on the
+; occasion of my last visit to New York
! when Squire came to me and declared
/ that all the securities she had given
me as the notes of Andrew. Carnegie
were worthless. 1t was only then that
| 7 doubted her. Before that I had re-
/ fused to say anything about her or
! her affairs, because / deemed it my
/ duty to protect her in the story of her
birth as she had given it to me- /
! shown that the securities she gave me
| were worthless After that, of course.
/ Confined on Page 2 Column &