Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1904-12-06

bearing the endorsement of An
drew Carnegie. These notes, 1t
is stated, ere for $5O0,00O and
$250,000 respectively 1t is further
claimed that these notes are now
in the possession of the United
States authorities here, although
the latter refuse to either deny or
confirm the report
Cleveland, Dec. president Beck.
with and Cashier Spear of the closed
Citizens National bank Of Oberlin.
appeared here today before United
States Commissioner Starek for pre-
liminary hearing. They are charged
with misappropriation of the funds of
the bank.
Held to Grand Jury.
Both men waived preliminary trial
and were bound over to the grand
jury, which meets in February.
The arrest of these men is the se-
quel to the investigation of the af-
fairs of the Citizens National by
United States Bank Examiner Miller.
Immediately after finishing his work
Mr.. Miller came there and had long
secret conference with the United
States district attorney and other
4 lawyers.
Leading Figure In Case.
Mr.. Beckwith the venerable head of
the Oberlin bank, has been one of the
central figures in the Chadwick mys-
terry since the first disclosures regard.
ING the woman's sensational swath in
8 the fields of finance. He is, the man
who. upon learning Of the suit brought
by Herbert B. Newton of Boston hur-
ried to the Chadwick mansion In
Cleveland and upon bended knees, i'm
plored Mrs Chadwick to take up her
notes aggregating quarter of mil.
lion dollars in the Oberlin institution
falling in faint when informed that
she could not pay them.
The closing of the doors Of the Citi-
zens' National bank followed, and 1t
then developed that President Beck
with had been lending the banks
money to Mrs. Chadwick without TAX
ing the directors into his confidence.
He also had lent her 100000 from
his private fortune, seeming to have
been under a spell that gave him un.
bounded confidence in the financial
strength of the borrower
Oath Adds Mystery.
Statements made by Mr.. Beckwith
subsequent to the troubles that came
to him as result of the loans added
to the mystery Of the whole case, and
intimated that some powerful person
or persons were backing the credit oi
the Cleveland woman, to mention the
names of whom would be the violation
) of sacred oath.
Every succeeding development ii
the Chadwick case is more startlingly
interesting than the one that has gone
before. Yesterday there was circum
stantial evidence to prove that ont
, of the richest men in the United
States-even after it had been made
fairly clear that Andrew Carnegie, de
spite the connection of his name will
the case, had no personal dealing,
with Mrs. Chadwick-was behind tn,
. woman and would wipe out the claim
of her creditors.
) Now affairs have taken an entirel
} new turn and investigations made i
| this city purporting to give verife
history of Mrs. Chadwick's wonderfu
system tend to show that she has ne
gotiated her loans of millions on he
nerve alone, coupled with a wonderfu
ability to dupe the shrewdest bus
ness men.
Pyramiding Of Loans.
It is charged that these men, oril
inally dupes, once enmeshed becam
Involuntary accomplices in he
scheme Of pyramiding loans, throug
hope Of regaining the money they ha
put out, and fearful of a crash ths
might ruin them if her operation
were cut short.
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English Novelist is Dead.
London, Eng, Dec. 5. Adelad
| 1 inf IL =