The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-12-13
The Carnegie Notes.

Cleveland, o., Dec. 10.-Attorney A.
A. Stearns, representing Herbert ID.
Newton, of Brookline, Mass, made
an authoritative statement today con-
corning the securities that were found
in the packages left with ri Rey-
noIds by Mrs Chadwick.
Package No. / contained note
made payable to Case l.. chadwick,
dated May 90, 1902, for $5,000,000
and payable in fifteen months
1t was signed with the name of An
drew Carnegie.
In ackage No. 1 was also a trust
agreement, dated February 81, 1901,
and signed Andrew Carnegie" pur
porting to be a receipt for securities
delivered to Andrew Carnegie by Fred
erick r. Macon, deceased, uncle of
Cassie l.. Chadwick, the value of the
securities being placed at $7,500,0 600
and to be productive of income. Those
securities purported to be bonds of tho
United States Steel Corporate -"
CALIFORNIAN Railway of Scnt1e.stI and
the Great Western Railway of Eng
land.
Package No. 2 contained a dupii-
cate copy of the trust agreement
Package No. contained a promis-
sorry note for $500, signed by Emily
and Daniel Pine, and made payable 10
Cassie l.. Chadwick and mortgage
securing the same.
The so-called trust agreement reads
as follows:
"Know all men by these presents
that /, Andrew Carnegie, of New York
CITY. do hereby acknowledge that L
livered to me for said Cassie l.. Chad
wick, wife of DR.. Leroy 5. Chadwick,
of 1924 Euclid Aenue, City of CleVe-
land county of Cuyahoga and state
of Ohio, properly assigned and de-
livered to me for sad Cassie l.. Chad
wck by her uncle, Frederick r. Mason
in his lifetime (noW deceased), which
property is of the appraised value of
ten Million two hundred and forty
six thousand dollars ($10, 246, 100000
consisting of $500 shares of Great
Western Railway stock. of England
and Wales valued at two million one
hundred thousand dollars ($2,100,000)
1880 shares of Caledonian Railway
stock of Scotland valued at one mil
lion one hundred and forty-siX thous-
and dollars $1,146, 900, ard BONDS OF
the United States Steel Corporation
OF New Jersey bearing five CD per
cent. interest, of the par value of seven
million ($7000,000) dollars
"The income from the above describ-
ed property | agree to pay over 10
said Cassie l.. Chadwick, semi-annual-
ly between the first and 18th days of
June and December of each year dur
ing the life of this trust, without any
deduction or charges for services or
expenses of any kind this trust to be
and remain in full force until August
29, 1902. In case IF the death of said
Andrew Carnegie, said trust to termi-
nate Immediately and said property
income and all proceeds to vest, alb
solutely both in law and equity, in
said Cassie l.. chadwick. In case OF
the death of Cassie l.. CHADWICK, said
trust TO terminate Immediately and
all of said property, together with all
income and proceeds, thereof, TO be
transferred and turned over to the
heirs at law or legal representatives
of said Cassie l.. Chadwick.
Il further agree TO faithfully carry
out all of the above provisions and
that all of said stocks and bonds have
been endorsed over in the name of said
Cassie L. Chadwick, so that no further
or other act will be necessary ON my
part, or on the part of my legal rep
resentatives. to put said Cassie l..
Chadwick or her heirs in law in full
POSSESSION of same on the termination
of tbs trust
Witness my hand and seal this
27th day of February, 1901.
(Signed) ANDREW CARNEGIE"
United States District Attorney Sui
Ivan is preparing to begin the work
of presenting to the Federal grand
jury the evidence against Mrs. Chad
wick.
Late this afternoon he ssued sub
poenaes for the witnesses who are to
appear before the grand jury, which
has already been drawn.
The first of these witnesses is An
drew Carnegie. The others are Rob-
ert Lyon, receiver of the bank at
Oberlin; A. 3. Spear, the cashier OF
the bank, the treasurer of Oberlin Col
lege and ]. E. Barrel, of Wooster,
Ohio. What connection the two last
named have with the case is not dis
closed.
President Beckwith will not be call
ed personally His statement to the
District Attorney and the United States
marshal will be submitted to the jury
instead.