The New York herald., 1922-03-19

land, was negotiating a loan of $3.50, 900
from a bank in Elyria, Ohio. That
bank, being unable to swing the deal
alone, was seeking help. Beckwith
went after the business. In a month
or so Cassie appeared with much
pomp and circumstance In the Oberlin
bank. She showed Beckwith a receipt
for 100000 for lawyers fees, indicating
the scope of her pending business
transactions. Furthermore, she pro-
duced the receipt signed by Reynolds.
Beckwith telephoned to the treasurer
OF Oberlin College, from whom she had
borrowed money which had promptly
been repaid The treasurer said she
was a first class risk. although a trifie
unusual and inclined to extravaganza.
Still, there was $17,000,000 in the
Cleveland vaults. and a person with so
much might indulge in extravagances
now and then. Besides, all Mrs. Chad
wick wanted from Beckwth was s15.-
000-a trifing sum. She got it. She
met the note promptly. Beckwith was
glad to have such a client.
Paid First Notes When Due.
She repeated the operation several
times, each time meeting the notes
when due. She was making ready for
the big drive. Thus far it was quite
easy.
But one day she dashed into Beck
with's office with demand for $50, 900.
That was somewhat sleeper She
showed Beckwith her security-all
] 1<.,
There were $4,000 900 in United States
Steel bonds and a huge amount of the
bonds of the Caledonia Railway of
Scotland. And here the magic of the
woman began to manifest itself.
Without a scratch of security save
for Cassie's word and the story of her
alleged relationship to Mr.. Carnegie
Beckwith handed her $4,000 of the
banks funds. When Beckwith found
that the loan was liable to run for a
length OF time he asked for tangible
security and received power OF attor-
ney over $250000 of the bonds in Ir
Reynoldss care. And on the strength
Of that Mrs. Chadwick borrowed more
from the Oberlin banker.
The notes came due and were not
met. The national bank examiner was
on his swing around Ohio. Mrs Chad
. wick owed the Oberlin bank $220,000
and she had wheedled from Beckwith's
personal fortune more than 500, 00O
Beckwith went to the Chadwick home
in Cleveland. Here he showed him
. self to be a thoroughly upright and
, decent citizen if all too credulous.
Got Beciwith's Sympathy.
, Cassie showed him document
, wherein 1t was said that when she had
signed IL all her property was to pass
into the hands OF man who was to
act as guardian with full power to do
! with these millions whatever he
, wished Mrs Chadwick was playing
the woman exposed to the fangs of a
financial wolf She was quite ignorant
of the danger. But Beckwith. sorely
, in need OF his money, warned her not
, 10 sigh the paper and went to great
, lengths TO preserve to the woman the
bogus fortune she was using as bait.
Poor Reclwith departed feeling more
, sorry for the woman than for himself,
, although he faced ruin.
He turned to other sources for
money. From Oberlin College he bor-
: 1
paid without Mrs. Chadwlck's assist
, ance. And. unbelievable as II may be,
the woman managed to borrow even
, more money from Beckwith. at one
. time giving him check for S1i 900 on
, the Knickerbocker Trust Company OF
New York and inducing him to issue
. a New York draft for the amount
The check came back--worthless
Beckwith had in his possession by
this time s5 900 900 Of securities which
, had formerly been in Iri Reynolds
keeping. In March, 1904, Cassie Chad
wick went to Beckwith and asked hin
, to surrender these securities for
: $4,000 note against Andrew Carne.
gle. Beckwith consented. She tolc
2 Beckwith that this note had been givcr
her by Mr.. Carnegie. who did not care
e to have II known that he was her
e natural father.
! Tho bank examiner arrived heart
Beckwith's story and agreed with tn,
Q latter that everything was as repre-.
I sented. He departed, suggesting thai
! Beckwith use his own discretion II
T telling his directors. Beckwith did no
tify two of them--lawyers. The trit
n went to Cleveland. There they wer,
h introduced by Mrs. Chadwick in hel
$ barbaric drawing room to Mr.. Bald
{ win and Mr.. Francis Mr.. Carnegiet
4 head man and cashier" Messrs. Bald
win and Francis explained that ther,
was plenty Of money behind Mrs
Chadwick. but that Mr.. Carnegie
. abroad at the time, was getting tri1t
I irritated by Mrs Chadwicks extrava.
gances and had decided to look hei
2 affairs over himself
lie would be home within a month
7 but In the meantime Messrs. Baldwin
2 and Francis thought they saw a way
e to get an immediate $4,000 for tn,
= Oberlin bankers. II would be sent Il
I them from New York at once, Beck.
Q with and his directors left tho Chad.
wick house In high feather The storm
: was passing. they thought
: The Obcrin bankers waited d week