Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1923-05-15
Modern Cassie Chadwick
Accused of Forgery In.
tended Giving Boston a
Ten Million Dollar Hotel
BY MALCOM ELLIS
Neased Wire Service to The JOurnal.)
lCnnvrinht 1NO2

II
women enter the field of high
finance it is not upon the five and
ten-cent basis, for they are not
pikers.
Twenty years ago Mrs. Cassie
Chadwick, of Cleveland, gave the
world evidence a-plenty of that
when, using an alleged relationship
with Andrew Carnegie, she mulcted
Ohio financierS for more than 49,
100000 and wrecked bank at ODER
lin, through the medium of worthless
notes In spite of all her high-fung
operations, when she died in Jail in
1906 her assets were little more than
$4,000.
Then, too, there is the case of
Nine Humbert, of France, who,
through the medium of a fortune
which she insisted was locked up in
vault and kept there through liti-
cation, managed to borrow her way
through years of high living in the
French capital, only to be revealed
as a fraud.
Now comes Mrs. Myrtle Bowman
Hayes, who faces trial next week
for a so-called daring forgery of the
name of Charles M. Schwab, a pro-
tege of Carnegie. She protests that
she has not profited one cent
through her operations and so far
the district attorney has not been
able to refute the statement.
Where Is the Money?
He has learned, though, that notes
aggregating approximately 1925, 200
are outstanding, all bearing the
forged Endorsement of the steel
master. The absorbing topic of the
district attorney is where the money
went and how far Mrs. Hayes
carried her operations. But the pub
lie is more interested in the methods
employed by the woman who has
been termed the modern Cassie
Chadwick"
Details of the case. filtering Aut of
the district attorneys offie since Mrs.
Hayes pleaded not guilty, Thursday,
have tended to show that her pre-
dicament was brought about by her
gambling spirit and her ambition to
become a sort of female Henry Ford.
Mrs. Hayes is said to have admitted
the forgeries and to have excused
them on the ground that she was
not profiting and that she was "tak-
ing chance that she would be
able to meet the notes and Schwab
would never learn of them. She
pleaded guilty, however, to the
technical charge of forgery.
In the wake of her disastrous
dream of empire building, she has
left hole in the ground at Boston,
into which at least some of the thou
sands were poured, a sheaf of worth
less notes that may rise up to damn
her and send her to Jail as they sent
Cassie Chadwick; bankruptcy for
the president of a big corporation.
who believed her to be Thorough
business woman and joined her in
the enterprise, and pile of unpIeas-
ant publicity for the holders of the
worthless paper.
How She Started
1t was Mrs Hayes ambition to
give Boston the biggest hotel-apart-
ment house the Hub~ever has had.
A year ago, she confided her scheme
to William c. Tobey, president of
the Standard Concrete Steel COM
pany, and when he asked her where
the money was to Gomez from, she
exhibited what purported to be let
ter from SchWab, guaranteeing back
ing to the extent of $1,000,O0O.
Mr. Tobey was induced to sign a
note for 100000 on the strength of
the letter and under the signature
of the note of. &C. M. Schwab" He
also accepted the presidency of
! Chatham, Inc, the building company
which Mrs. Hayes organized, and
drew to it's directorate big finan-
ciers in New York and Boston.
! With great pomp and ceremony
and surrounded by the blue bloods
of
good fortune that had come the
city's way through the woman finan-
cier. Lieut.. Gov Alvin T. Fuller of
Massachusetts, threw out the first
spade full of earth on the site of
the Chatham. Mrs Hayes continued
her financing by floating more notes
and arranging for a first mortage
of $2,700,000 after the work had
progressed far enough. 1t is the be-
lief of the districty attorney that she
had hoped to meet the worthless
notes with money from this loan
Then Schwab Learns
| Early in the progress of her opera
| tons, Mrs. Hayes was confronted by
. the intimation from one of her asso-
ciateS that he would like further evil
dence of Mr.. SchWab's backing. Mrs.
| Hayes was not to be bluffed and
countered by taking the doubtinS
/ Thomas to SchWab's office. The
steel master was out, but the doubt
| ing Thomas was satisfied.
Early this year one of the notes
! for $4,000 fell due and when it was
not met, the holder carried it to
| Schwab's attorney The founder Of
! the Bethlehem Steel company rushed
! home from Europe, summoned by
cable to straighten matters out. He
had known Mrs. Hayes for twenty
years. he told the grand jury, and
/ had regarded her as a capable bust.
ness woman. but she had no author
| itY to sign. his name to anything.
The bursting Of the Chatham bub.
BILE has exploded another dream of
Mrs. Hayes that contemplated a no.
tel just twice as big ras the
Chatham. 1t was to be called the
Bostoniar and its erection an or
lay of $1O,000,000 was to be made.
Mayor Peters. of Boston, was to turn
the first soil for this. The soil re-
mains undisturbed. That also dc.
scribes the mental attitude of Mrs
Hayes, who smiles blandly DESPITE
the moral pointed by the case }of