17658. Citizens National Bank (Oberlin, OH)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 72
Charter Number: 2718
Start Date: November 26, 1904
Location: Oberlin, Ohio (41.294, -82.217)

Metadata

Model: gpt-5-mini
Short Digest: ba4496ac

Response Measures

Accommodated withdrawals, Full suspension, Books examined

Description

Newspapers report a run (Saturday before Nov 28, 1904) triggered by rumors about large loans/notes of Cassie L. Chadwick; bank suspended/payments stopped Nov 28, 1904 and was placed in charge of the national bank examiner. A receiver was appointed and the bank is repeatedly described as 'failed' with receiver taking jewelry and assets; doors briefly opened Dec 3, 1904 to permit customers to secure papers/valuables but the institution remained in receivership. I therefore classify as run -> suspension -> closure (receiver).

Events (4)

1. November 26, 1904 Run

Cause: Rumor Or Misinformation
Cause Details: Newspaper accounts state the run followed a rumor that the bank held large loans/notes of Mrs. Cassie L. Chadwick.
Measures: Officials said arrangements were made with a New York bank for $300,000 expected to arrive to enable reopening.
Newspaper Excerpt: On Saturday there was a run on the bank ... The run continued during the late afternoon and evening. The calls for deposits depleted the cash on hand
Source: newspapers

2. November 28, 1904 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Board closed the bank after run and discovery/acknowledgement of large loans/notes carried for Mrs. Cassie L. Chadwick which undermined confidence and solvency.
Newspaper Excerpt: This bank will not open this morning, or until further notice. The bank is in charge of the national bank examiner for examination and investigation.
Source: newspapers

3. December 3, 1904 Receivership

Newspaper Excerpt: L. L. Miller, who was at first named receiver for the closed Citizens' National bank, has been recalled to Washington and Robert Lyons has succeeded him in charge of the bank's affairs. The doors of the bank were opened during the day for the first time since the suspension and people ... were allowed to secure them. (Dec. 3, 1904).
Source: newspapers

4. December 4, 1904 Other

Newspaper Excerpt: President Beckwith and Cashier Spear of the Citizens' National Bank of Oberlin Are the Officials Arrested ... The Citizens' National Bank ... is creditor to the extent of $240,000 from Mrs. Cassie L. Chadwick ... warrants charge them with violation of the federal banking laws. (Dec. 4, 1904).
Source: newspapers

Newspaper Articles (22)

1. November 28, 1904 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, November 28, 1904

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Bank Closed. Oberlin, O., Nov. 28.-The Citizens' National Bank closed its doors this morning, and the following notice was posted on the door: "This bank will not open this morning, nor until further notice The bank is in charge of the national bank examiner for examination." C. G. Beckwith is president-of the institution. No statement furth than that on the door has been is The bank was founded in 185° the only national bank ir There is great excitemen' business men, Beckwith made a st er ing to the effect Shear made a he e ago on whathe termed nrity." On SatThe loan falls due e bank. The urday there was a run run continued during the late afternoon and evening. The calls for de₁ osits depleted the cash on hand, the officials admit. They say arrangements have been made with a New York bank for $300,000, which is due here Tuesday. By the receipt of this the bank may be opened.

2. November 28, 1904 Evening Star Washington, DC

Article from Evening Star, November 28, 1904

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SENSATION OVER SUIT CLEVELAND WOMAN ASKED TO RETURN LARGE LOAN. Plaintiff in Action is a Prominent Business Man of Brookline, Mass. -Ohio Bank Closed. NEW YORK, November 28.-A sensation has been caused here by the bringing of suit by Herbert D. Newton of Brookline, Mass., against Mrs. Cassie Chadwick of Cleveland, Ohio, for $190,800 for money loaned. Mrs. Chadwick is the wife of a Cleveland physician. In addition to Mr. Newton's suit several banks have taken legal action to recover various amounts, which bring the total sum to $267,800. Mr. Newton alleges that Mrs. Chadwick told him she had $5,000,000 in bonds and securities held in trust by Ira Reynolds, secretary and treasurer of the Wade Park Banking Company of Cleveland, and that she had a note for $500,000 which she could negotiate at any time for the purpose of paying Newton. He loaned her $190,800. P. W. Carver of Boston, attorney for Mr. Newton, in a statement for his client, said that when the loan became payable it was not met and that then he, Mr. Carver, had a conference with Mrs. Chadwick and her counsel. "The statement was made to me," said Mr. Carver, "that the securities held as a trust fund would soon be released and that in a short time all the various obligations would be paid. "Later I went to Cleveland, where I had a conference with Mr. Reynolds, but he refused to disclose any information as to the securities in his care. Suit in Equity Filed. "Following another conference with Mrs. Chadwick's counsel last Monday we decided to bring a suit in equity for the recovery of the money and have obtained injunctions restraining Mr. Reynolds from putting the securities out of his possession, and also to prevent Mrs. Chadwick from disposing of them." In regard to the value of the securities held in trust by Mr. Reynolds, Mr. Carver declined to make any statement. Besides Mr. Newton, the plaintiffs in the suit against Mrs. Chadwick are the Euclid Avenue Savings and Trust Company of Cleveland, for $38,231; the Savings Deposit Bank and Trust Company of Elyria, Ohio, for $10,000, and the American Exchange National Bank for $28,808. The magnitude of the suits and sensational stories growing out of the case attracted much attention here. Mrs. Chadwick came here last Thursday and went to a hotel. At this hotel it was said today that she had remained only one day, but it was believed that she was still in the city. Her husband is believed to be in Europe. Oberlin Bank Closed. OBERLIN, Ohio, November 28.-The Citizens' National Bank of this place was closed this morning. The action was taken as a result of a meeting of the board of directors held yesterday. The following notice was posted on the bank door today: "This bank will not open this morning, or until further notice. The bank is in charge of the national bank examiner for examination and investigation." A financial statement issued by the bank in September last showed the capital stock to be $60,000; surplus, $20,000; deposits, $475,000; loans and discounts, $317,000; bonds and real estate, $133,000; due from banks, $126,000; cash on hand, $21,000. C. G. Beckwith is president of the institution. The bank was founded in 1858. It is generally understood that the bank carried notes of Mrs. Cassie Chadwick of Cleveland to a large amount. On Saturday there was a run on the bank as a result, it is said, of a rumor that Mrs. C. L. Chadwick of Cleveland had borrowed largely from the institution. Officials of the bank state that $300,000 in cash is expected from a New York bank today. Plaintiff Well-to-Do Business Man. BOSTON, November 28.-Herbert D. Newton of Brookline, who has sued Mrs. Cassie Chadwick of Cleveland, Ohio, for $190,800, is a well-to-do business man. Concerning the action against Mrs. Chadwick, he says that suit had been brought in the common pleas court at Cleveland to recover upon loans made to Mrs. Chadwick for which promised payments had not been made when due. "I am not alone concerned in this matter," said he, "but I must decline to tell who are the other parties. I made the loans on the strength of a statement of Mrs. Chadwick that she was a woman of wealth and owned securities sufficient to warrant the loans. The promised payments were not forthcoming and we propose to find out whether her assertions were true." Mr. Newton understands the case will come up at Cleveland tomorrow. Not Worrying Over Money. ELYRIA, Ohio, November 28.-D. J. Nye, vice president of the Savings and Deposit Bank of this city, which recently brought attachment proceedings against Mrs. C. L. Chadwick, referring to the matter today, said: "We loaned Mrs. Chadwick $10,000 on security which we consider ample. Her security consisted not only of her household effects, but the real estate, the house she lives in, which belongs to her. We heard that Mr Newton of

3. November 28, 1904 The Fairmont West Virginian Fairmont, WV

Article from The Fairmont West Virginian, November 28, 1904

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GREAT EXCITEMENT Due to Closing of the Only National Bank in Oberlin. (By Publishers' Press.) OBERLIN, O., Nov. 28.-The Citizen's National Bank closed its doors this morning. The following notice was posted on the door: "This bank will not open this morning nor until further notice. The bank is in charge of the National Examiner for examination and inves tigation." C. G. Beckwith is president of the institution. No statement further than that on the door has been issued. The bank was founded in 1858, and is the only national bank in Oberlin. There is great excitement here. President Beckwith made a statement this morning to the effect that he and Cashier Shear made a heavy loan some time ago on what he termed "gilt edged security." This loan falls due January 1. On Saturday there was a run on the bank. Officials of the bank admit that the institution is to a small degree involved in the Chadwick case loans. The run continued during the late afternoon and evening. The calls for deposits depleted the cash on hand, the officials admit. They say arrangements have been made with a New York bank for $300,000, which is due here Tuesday. By the receipt of this. the bank may be opened.

4. November 29, 1904 The Daily Morning Journal and Courier New Haven, CT

Article from The Daily Morning Journal and Courier, November 29, 1904

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BIG LOANS TO WOMEN CAUSES BANK TO CLOSE OBERLIN, 0,, NATIONAL IN SERIOUS TROUBLE. President Acknowledges Personally Assisting in Loaning Mrs. Cassie L. Chadwick $102,000-Has Two Checks from Her as Security-One for Half a Million, the Other for $250,000-Striking Resemblance to Woman Who Served Time for Forgery. Oberlin, O., Nov. 28.-The Citizens' National bank of this place was closed this morning. The action was taken as a result of a meeting of the board of directors held yesterday. The following notice was posted on the bank door today: This bank will not open this morning, or until further notice. The bank is in charge of the national bank examiner for examination and investigation. A financial statement issued by the bank in September last showed the capital stock to be $60,000; surplus, $20,000; deposits, $475,000; loans and discounts, $317,000; bonds and real estate, $133,000; due from banks, $126,000; cash on hand, $21,000. C. G. Beckwith is president of the institution. The bank was founded in 1858. It is generally understood that the bank carried notes of Mrs. Cassie Chadwick of Cleveland to a large amount. On Saturday there was a run on the bank as a result, it is said, of a rumor that Mrs. Chadwick had borrowed largely from the institution. Officials of the bank say that $300,000 in cash is expected from a New York bank today. President C. T. Beckwith said tonight that he personally has assisted in loaning Mrs. Cassie L. Chadwick $102,000. Concerning the condition of the bank Vice President M. M. Squire said: "It is only a hope that we will secure assistance from New York." President Beckwith said that there were two checks in the bank as security for what had been loaned to Mrs. Chadwick. One check is for $500,000 and the other for $250,000. Mrs. Cassie Chadwick was a guest at the Hallan house in this city until Saturday night, when she went away without leaving her new address. There was a story circulated on that day that Mrs. Chadwick had a remarkable resemblance to Mme. Lydia de Vere, who began a sentence of nine and one-half years for forgery in 1891 in the Columbus (Ohio) penitentiary and was released on parole in 1893 by Governor Wil= liam McKinley. There was a comparison of the portraits of the two women. As a sequel to that story Emil H. Chadwick, the woman's son, was quoted as saying: "Some dreadful mistake has been made. There may be some similarity between the photographs, but they are different persons. "My mother directs me to say that she was not born in Woodstock, Ontario; that her maiden name was not Rigley. Dr. Chadwick is in Europe now."

5. November 29, 1904 Bismarck Daily Tribune Bismarck, ND

Article from Bismarck Daily Tribune, November 29, 1904

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OHIO BANK SUSPENDS. Sald to Carry Mrs. Chadwick's Notes for Large Amount. Oberlin, O., Nov. 29.-The Citizens' National bank of this place was closed during the morning. The action was taken as a result of a meeting of the board of directors. The following notice was posted on the bank door: "This bank will not open until further notice. The bank is in charge of the national bank examiner for examination and investigation." C. G. Beckwith is president of the institution. The bank was founded in 1858. It is generally understood that the bank carried notes of Mrs. Cassie Chadwick of Cleveland to a large amount. On Saturday there was a run on the bank as a result, it is said, of a rumor that Mrs. Chadwick had borrowed largely from the institution.

6. November 29, 1904 New-York Tribune New York, NY

Article from New-York Tribune, November 29, 1904

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OHIO BANK CLOSED. Run Followed Rumor That It Held Mrs. Chadwick's Notes. Oberlin, Ohio, Nov. 28.-The Citizens' National Bank, of this place, was closed this morning. The action was taken as a result of a meeting of the board of directors, held yesterday. The following notice was posted on the bank door to-day: This bank will not open this morning, or until further notice. The bank is in charge of the national bank examiner for examination and investigation. A financial statement issued by the bank in September last showed the capital stock to be $60,000; surplus, $20,000; deposits, $475,000; loans and discounts, $317,000; bonds and real estate, $133,000; due from banks, $126,000; cash on hand, $21,000. C. G. Beckwith is president of the institution. The bank was founded in 1858. It is generally understood that the bank carried notes of Mrs. Cassie Chadwick, of Cleveland, to a large amount. On Saturday there was a run on the bank, as a result, it is said, of a rumor that Mrs. C. L. Chadwick, of Cleveland, had borrowed largely from the institution. Officials of the bank state that $300,000 in cash is expected from a New-York bank tomorrow. President C. T. Beckwith said to-night that he personally has assisted in loaning Mrs. Cassie L. Chadwick $102,000. He said that there were two checks in the bank as security for what had been loaned to Mrs. Chadwick One check is for $500,000, the other for $250,000.

7. November 30, 1904 Waterbury Evening Democrat Waterbury, CT

Article from Waterbury Evening Democrat, November 30, 1904

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NOTCARNEGIE'S NOTE Financier Repudiates Mrs. Chadwick's Paper. SAYS"ABSURD, DOES NOT KNOW HER" Carver, Agent For Plaintiff In Suit, Do Not Says, "We Contradict Statement That $500,000 Note Bears Andrew Carnegie's Name." NEW YORK, Nov. 30.-"Mr. Carnegie has read this report and has pronounced it absurd. Mr. Carnegie does aot know the woman at all." This statement was made at Andrew residence in and has to do secretary Carnegie's this with city the by his report that the financier's name was on the note for $500,000 given by Mrs. Leroy S. Chadwick of Cleveland as collateral for a loan of $102,000 from the Citizens' National bank of Oberlin, O., which has closed its doors. This réport seems to have arisen a statement made by local attorney for all, from the Herbert George Ry- has D. Newton of Brookline, Mass., who begun suit in Cleveland against Mrs. Chadwick for loans aggregating $190,BOO. Mr. Ryall, who is a member of the law firin of Baggott & Ryall, said: "There was a conference at my of Ice at which were present Mr. NewCarver of Boston, Judge John of Canton, of counsel Albaugh ton, Mr. behalf for Mrs. of Chadwick, and myself. On Mrs. Chadwick, Judge Albaugh requested that the receivership proceedbe put off until Friday, at which time .ngs he will have her affairs in some kind of shape. This was agreed to. "Mr. Newton said that he had seen note for $500,000 which was given B Mrs. Chadwick as collateral for a by from the Citizens' National bank of loan Oberlin, O. My client told me that 'Anthis note carried the signature Carnegie.' This will have to it drew come out sooner or later, so I tell now. "Whether the signature is genuine or however, another question. not understand is, that Mr. Carnegie declares it not his signature." is D. Newton of Brookline, Herbert the plaintiff in the suit against last Mass., Cassie L. Chadwick, refused phase, Mrs. to discuss the case in any counsel, but night referred inquirers to his Percy his W. home Carver. in Newton Mr. Carver in At that important developments exsaid of Mrs. Chadwick Referring were the case within a few days. $500,000, pected to the note for the name particularly have been signed with said: of said Andrew to Carnegie, Mr. Carver complaint Mr. Newton's bill of against "In has been filed in the suit alleges which Chadwick Mr. Newton to loan Mrs. an inducement for him Chadthat as Chadwick $190,800 Mrs. $500,000, Mrs. showed him a note for whom, Mr. wick was signed by a man responsiwhich believed, to be fully behind Newton who could stand preole as loan one as was requested. signed I such a state what name was that we ter not note, to but you can ray that to this contradict the statement the 10 not note bore the signature of Andrew Carnegie." Carver stated, in conclusion, the note that Mr. Carnegie's repudiation unexpected. of Mr. was not at all the Citifor $500.000 Whitney, a director Oberlin, of O., L. T. National bank of doors on sens' institution closed its of paper which of the large amount Mrs. Cassie L. account it holds against bank had which said that the which Ohadwick, Mrs. Chadwick $240,000, stock. oaned the bank's capital loaned Mr. s four Beckwith times had personally her $102,000 Chadwick more. is already individuals being sued for Mrs. banks and and by various a quarter of a million dollars pleas court over in the common secretary resterday Ira Reynolds, Park bank of Cleveland of the Wade brought inand treasurer city, was to have securities of that certificates and of nion. to court Mrs. Chadwick all now in his posses-

8. December 3, 1904 Bismarck Daily Tribune Bismarck, ND

Article from Bismarck Daily Tribune, December 3, 1904

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CARNEGIE PAYING THE CLAIMS. Rumor at Oberlin, O., Anent the Chadwick Case. Oberlin, O., Dec. 3.-Reports from New York that Mrs. Chadwick held a long conference with the attorneys of Andrew Carnegie have inspired the directors of the closed Citizens' National bank here with a renewed hope that their claim will be liquidated. The directors express the belief that if the Newton case is settled it means that all the claims against Mrs. Chadwick will be paid. L. L. Miller, who was at first named receiver for the closed Citizens' National bank, has been recalled to Washington and Rob ert Lyons has succeeded him in charge of the bank's affairs. The doors of the bank were opened during the day for the first time since the suspension and people who have had papers and valuables in the private safety vaults were allowed to secure them.

9. December 3, 1904 The Bemidji Daily Pioneer Bemidji, MN

Article from The Bemidji Daily Pioneer, December 3, 1904

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CARNEGIE PAYING THE CLAIMS. Rumor at Oberlin, O., Anent the Chadwick Case. Oberlin, O., Dec. 3.-Reports from New York that Mrs. Chadwick held a long conference with the attorneys of Andrew Carnegie have inspired the directors of the closed Citizens' National bank here with a renewed hope that their claim will be liquidated. The directors express the belief that if the Newton case is settled it means that all the claims against Mrs. Chadwick will be paid. L. L. Miller, who was at first named receiver for the closed Citizens' National bank, has been recalled to Washington and Robert Lyons has succeeded him in charge of the bank's affairs. The doors of the bank were opened during the day for the first time since the suspension and people who have had papers and valuables in the private safety vaults were allowed to secure them.

10. December 3, 1904 The Providence News Providence, RI

Article from The Providence News, December 3, 1904

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# PROVIDENCE MAN LEFT # INSURANCE POLICY TO OBERLIN Oberlin, O., Dec. 3.-Oberlin college has received a gift of $7150, being the pro-ceeds form an insurance policy assigned to the college by the late William C. Chapin of Providence. The money will be used for endowment purposes. Mr. Chapin died in Andover more than a year ago. He became interested in Oberlin 39 or 40 years ago and desired to help it. The college was not affected by the failure of the Citizens' National bank.

11. December 5, 1904 The Savannah Morning News Savannah, GA

Article from The Savannah Morning News, December 5, 1904

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BANK OFFICIALS ARE UNDER ARREST A LOAN TO MRS. CHADWICK IS HELD RESPONSIBLE FOR THEIR TROUBLES. President Beckwith and Cashier Spear of the Citizens' National Bank of Oberlin Are the Officials Arrested-They Had Loaned Mrs. Chadwick $240,000-Are Charged With Violating the National Banking Laws. Cleveland, O., Dec. 4.-As the result of a conference between the United States district attorney, the bank examiners who have been looking into the affairs of the failed Citizens' National Bank of Oberlin and their counsel, President C. T. Beckwith and Cashier Spear of that bank were placed under arrest late to-night by United States Marshal Chandler of Cleveland at their homes in Oberlin. The arrests of Beckwith and Spear are the first that have been made in the Chadwick case. The Citizens' National Bank, with which they are connected, is creditor to the extent of $240,000 from Mrs. Cassie L. Chadwick, whose financial affairs during the past week have been the cause of a great deal of publicity. The bank is capitalized at but $60,000. Since the disclosure of the bank's dealing with Mrs. Chadwick the president, cashier and directors have held conferences and meetings frequently. All the time there has been expressed by President Beckwith at least a hope of a reimbursement of the bank's loan to Mrs. Chadwick, but so far as known no remittance has been received. President Beckwith has been in a state bordering on physical collapse for nearly a week, and for the past three or four days has been confined to his bed. He has expressed the utmost regret over the outcome of the bank's dealings with Mrs. Chadwick, and has given no intimation as to why such great sums of money have been loaned from the bank to Mrs. Chadwick. The warrants on which Beckwith and Spear were arrested charge them with violation of the federal banking laws. Nathan Loeser, receiver for Mrs. Chadwick's property, said to-night that he `would qualify in that office tomorrow morning and would then file his bond for $10,000. Loeser also said that he would try to have the chattel mortgages held by the Elyria Bank set aside on the ground that it is a preference, and that all creditors should share alike. President Beckwith took his arrest quietly. Neither banker was locked up. A marshal remains with Spear at a hotel and a deputy is at President Beckwith's house.

12. December 8, 1904 Iowa County Democrat Mineral Point, WI

Article from Iowa County Democrat, December 8, 1904

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a. DUPED BANKER 1n EXPOSES CASSIE 1ot TELLS HOW MRS. CHADWICK HOODWINKED HIM. of di CARNEGIE'S NAME FORGED 3. 1, e Name of Great Steel Maker on Secur. ities Accepted as Good-Woman it Took Solemn Oath as to Genuine S Character of Millionaire's Signa1. ture-Had No Suspicion. 1d Cleveland, Ohio, Dec. 6.--President Beckwith of the failed Citizens' Na tional bank of Oberlin yesterday after r noon told the story of the bank's n transaction with Mrs. Cassie L. Chadwick. He said he knows he did wrong, and "although crushed to earth myself I do not propose to be made a 1scapegoat to shield the sins of r others," and declared "others also must be called to the bar to answer for their part in this terrible affair and one of those whose answer must be had is Mrs. Cassie L. Chadwick." His acquaintance with Mrs. Chadwick began three years ago. The attorney for Herbert D. Newton, the Brookline, Mass., banker, have stated that their t client loaned Mrs. Chadwick money f only after a note signed Andrew Car1 negie had been endorsed by the president and cashier of d national bank. 1 The men who endorsed the note were

13. December 10, 1904 The Minneapolis Journal Minneapolis, MN

Article from The Minneapolis Journal, December 10, 1904

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sent the vast amount of $12,500,000, have been for the past three years the principal basis on which Mrs. Chadwick has conducted her financial system, and on which she has borrowed sums which, it is conceded, run up to the millions, and are positively known to exceed $1,000,000. And these same 'securities' are the rock which has wrecked the Oberlin bank and caused the ruin of hundreds of families, and losses to business men almost without number. For it is the frankly expressed opinion of reputable lawyers who have examined these papers that they are not worth one cent. "Moreover, there is bitter irony in the fact that the very man who held this worthless paper so faithfully and tenaciously for Mrs. Chądwick, and who apparently believed in its worth so implicitly, and thru whom others were, perhaps innocently, drawn into the vortex of Mrs. Chadwick's operations, should himself be one of the heaviest losers. Iri Reynolds Duped. "For Iri Reynolds, after his long course of faithful guardianship for the woman whom he trusted, now considers himself a dupe. It is stated as a fact, not hitherto known, that Reynolds loaned Mrs. Chadwick practically all the money he possessed. His entanglements, however, involve only himself, the Wade Park bank being in no way affected. "The note for $5,000,000 is believed by all who have knowledge of it, to have been written and signed by the same person who filled out and signed the notes for $500,000 and $250,000 held by the Citizens' National bank of Oberlin. "It is understood that the certificate of trusteeship states that the securities held by Andrew Carnegie for Mrs. Chadwick consist of United States Steel bonds, Caledonian Railway stock in Scotland, and Great Western railway stock in England, the three aggregating, as above stated, $7,500,000.'' Bubble Has Burst. "To put it briefly, the great Chadwick bubble has burst. There is no hope apparent. The foundation on which Mrs. Chadwick's creditors rested their expectations has sunk, and the Chadwick financial system, which has been tottering for the past two weeks has fallen. Unless help should arrive from some now unseen source, the cred itors are helpless, and Mrs. Chadwick has no resource. "She must now face the storm that has been steadily growing in inten sity.

14. December 10, 1904 Rock Island Argus Rock Island, IL

Article from Rock Island Argus, December 10, 1904

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Cleveland, Dec. 10.-The Plain Deal. er says: "When the contents of the mysterious 'securities' held for Cassie L. Chadwick by Iri Reynolds in the Wade Park bank are revealed to the world it will be found the signature of Andrew Carnegie has apparently been forged no notes and other papers to a total amount of $13,750,000. Aggregate That Amount. "The securities held by Reynolds, together with those that were held by the Citizens' National bank, of Oberlin and have already been made public. aggregate this amount, and all are believed to have been signed by the same person. This Her Sole Annet. "The securities consisting of a note of $5,000,000 and a certificate of trusteeship which states that Carnegie has in his possession stocks and bonds amounting to $7,500,000 held by him in trust for Mrs. Chadwick, both bearing the signature of Carnegie, have been for the past three years the principal basis on which Mrs. Chadwick has borrowed sums which it is conceded, run up to millions. Has Ruined Many. "And these same securities are the rock which wrecked the Oberlin bank and caused the ruin of hundreds of families and losses to business men almost without number. For it is the frankly expressed opinion of reputable lawyers who have examined these papers that they are not worth one cent. Reynolds One of Losers. "Moreover there is bitter irony in the fact that Iri Reynolds, who held this worthless paper so faithfully and tenaciously for Mrs. Chadwick and who apparently believed in its worth so implicitly, and through whom others were, perhaps innocently, drawn in the vortex of Mrs. Chadwick's operations, should be himseif one of the heaviest losers. It is stated as a fact that Reynolds loaned Mrs. Chadwick practically all the money he possessed. His entanglements, however, do not involve the Wade Park bank." Could Not Get Witnesses. Elyria, Ohio, Dec. 10.-Because the main witnesses in the Chadwick note case couldn't be gotten here today the grand jury adjourned until Monday.

15. December 11, 1904 Americus Times-Recorder Americus, GA

Article from Americus Times-Recorder, December 11, 1904

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Cleveland, O., Dec. 10.-When the contents of "mysterious securities" held from Mrs. Cassie L. Chadwick by Iri Reynolds, in the Wade Bank revealed to the outside it will be found that the signature of "Andrew Carnegie" has apparently been forged on notes and other papers to the total amount of $7,500,000 held by him in held by Reynolds, together with those that were held by the Citizens' Nation. al bank of Oberlin and have already been made public, aggregate this amount. The mysterious "securities" held in trust by Reynolds, concerning which there has been so much futile speculation during the past two weeks, consists of the following items. First, a note for Blume, bearing the signature of Andrew Carnegie. "Second, a certificate of trusteeship which states that Andrew Carnegie has in his possession bonds total amonut of $7,500,000 held by him in trust form. This paper also bears the signature of Mr. Carnegie. "These securities, supposed to represent the vast amount of $12,500 , 000 have been for the past three years the principal basis on which Mrs. Chadwick has conducted her financial system and on which she has borrowed sums, which, it is discerned, run up to millions. "And these same securities are the rock which wrecked the Oberlin bank and caused the ruin of hundreds of families, and losses to business men almost without number. "Iri Reynolds after his long course of faithful guardianship for the wo. man whom he trusted, now considers himself a dupe. It is said as a fact, that Reynolds loaned Mrs. Chadwick practically all the money he possessed. His entanglements, however, involve only himself. the Wade Park bank being in no way affected, it is under stood. Certificate of trusteesship states the securities held by Andrew Carnegie for Mrs. Chadwick consist of United States Steel bonds, Central stock Consolidated and Northwestern Railway stock in England, the three aggregating as above stated, $7,500,000. To briefly state the fact, the great Chadwick trouble has burst. Unless help should arrive from some now unseen sources, the creditors are help less, and Mrs. Chadwick has no resource. She must now face the strain that has been steadily growing in in tensity."

16. January 7, 1905 New-York Tribune New York, NY

Article from New-York Tribune, January 7, 1905

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CONTROLLER HAS CHADWICK JEWELS. Washington, Jan. -The - Controller of the Currency has in his possession an emerald ring and a diamond sunburst brooch that are said to have at one time belonged to Mrs. Chadwick. They were deposited with the failed Citizens' National Bank, of Oberlin, Ohio, as collateral. When the bank falled the jewelry was taken by the receiver. and It will be sold the same as the other assets of the bank. They were not deposited by Mrs. Chadwick, although it is said they once belonged to her. The jewels have not been appraised, and the Controller is unable to fix their value.

17. January 7, 1905 Waterbury Evening Democrat Waterbury, CT

Article from Waterbury Evening Democrat, January 7, 1905

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Mrs. Chadwick's Gems. WASHINGTON, Jan. 7.-The comptroller of the currency has in his possession an emerald ring and a diamond sunburst brooch that are said to have at one time belonged to Mrs. Chadwick. They were deposited with the failed Citizens' National bank of Oberlin. O.. as collateral. When the bank failed the jewelry was taken possession of by the receiver, and it will be sold the same as the other assets of the bank. They were not deposited by Mrs. Chadwick. although it is said they once belonged to her.

18. January 11, 1905 The Fulton County News McConnellsburg, PA

Article from The Fulton County News, January 11, 1905

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Notes of the Departments. President Roosevelt and Ambassador Jusserand delivered addresses before the Forestry Congress. The House laid on the table the resolution aimed at the statistical department of the Department of Agriculture and vindicated the cotton reports. Henry M. Rose, reading clerk of the United States Senate, has been appointed internal revenue collector for the fourth crdistt of Michigan. A favorable report on the extradition treaty between the United States and Panama was authorized by the Senate Committee on Foreign Relations. The Senate committee authorized a favorable report on the nomination of W. D. Crum as collector of the port at Charleston, S. C. James A Watson, was convicted on the charge of embazzlement while in the office of District Auditor Petty. The Comptroller of the Currency has in his possession an emerald ring and a diamond sunburst brooch that are said to have at one time belonged to Mrs. Chadwick. They were deposited with the failed Citizens' National Bank of Oberlin, O., as collateral. When the bank failed the jewelry was taken possession of by the receiver. At the meeting of the House Committee on Interstate Commerce members of the committee denied the statements attributed to E. P. Bacon, of Milwaukee, president of the Interstate Commerce Convention, that members of Congress are influenced by railroads. Conrad H. Syme, attorney for A. W. Machen and others involved with him in the alleged postoffice conspiracy, filed application for a writ of certiorari in the United States Supreme Court. Involuntary bankruptcy proceedings were instituted against John Ridout, the real estate dealer. The Senate, in executive session, confirmed the nomination of William D. Crum, colored, as collector of customs for the port of Charleston, S. C. In his annual report Governor Otero, of the Territory of New Mexico, takes a decided position against the uniting of that territory with Arizona as one state. Senator Stone introduced a resolution for an inquiry into the charges that coporations make large contributions to campaign funds. The President has accepted invitations to attend a number of important functions during the winter.

19. March 7, 1905 The Seattle Star Seattle, WA

Article from The Seattle Star, March 7, 1905

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# CHADWICK # HEARING GOVERNMENT CALLS MANY WITNESSES IN THE FAMOUS CASE CLEVELAND, O., March 7.-- When Mrs. Chadwick appeared in the federal court this morning she was seized with nervousness. She still showed signs of the collapse which she suffered yesterday afternoon during the hearing. The strain had been too much for her and when she was seized with illness she was led out of the court room and fell into a dead faint in her nurse's arms. The court was hastily adjourned to this morning. She was under the care of physicians during the night and said she felt better this morning, though she was manifestly ill at ease. Dr. Chadwick, her husband, was present in court when the trial was resumed. The general opinion now is that the jury is a most favorable one to the prisoner, inasmuch as 11 of the 12 members are farmers and one a real estate dealer, while the evidence to be introduced relates entirely to banks and finances. Attorney Dawley, who represents Mrs. Chadwick, says he is confident that the government cannot secure a conviction. At the hearing this morning Director Haller of the Citizens' National bank of Oberlin, resumed the stand. He said that the directors of the bank had not been informed of the Chadwick loans until the very day the bank suspended. Director Randolph testified that the directors met every two weeks. Cashier Spears read what purported to be a complete list of all the bank's loans and Mrs. Chadwick's name was not mentioned in the list. Vice President Marshall, of the First National bank of Cleveland, testified that he had known President Beckwith and Cashier Spears of the defunct Oberlin bank for ten years, and Mrs. Chadwick since last May. He said she kept an account with his bank. The witness explained how Mrs. Chadwick had obtained $15.000 on a check certified by Beckwith in October of last year. The check was charged up to the Oberlin bank. The witness identified the checks mentioned in the indictment by the grand jury. It was shown also that Mrs. Chadwick had opened an account with the Prudential bank by depositing a check and two drafts, amounting to $92,000. These checks were mentioned in the indictments and were also identified by witnesses. H. H. Avery, bookkeeper of the Oberlin bank, testified that Mrs. Chadwick at one time had deposited $10,000 in the bank and that she never had any other account. He identified the checks certified by Spear and paid by the bank.

20. March 7, 1905 The Montgomery Advertiser Montgomery, AL

Article from The Montgomery Advertiser, March 7, 1905

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FAMOUS CASE IS ON TRIAL (Continued from Page One.) turned against Mrs. Chadwick charging her with conspiracy to commit an offense against the United States and further addressed the jury at considerable length that if such conspiracy Is formed and one or more of the conspirators take any action toward carrying into effect the purpose of the conspiracy, all of the conspirators are guilty before the law. The evidence to be submitted in the case, said Mr. Sullivan, will show that Mrs. Chadwick was associated with Spear and Beckwith, the officials of the Citizens' National Bank of Oberlin. in business. They had many transactions together, in the course of which eight different checks amounting in all to $86,000, were certified by Spear and Beckwith. The evidence will show that when these checks were certified no money was in the bank in the name of Mrs. Chadwick and no entries to her credit were on the books of the bank." "I would suggest, Mr. Sullivan," said Judge Taylor, "that you explain to the jury the exact nature of a certified check.' This was done and the attorney then declared that the evidence of the directors of the Citizens' National Bank of Oberlin would be to the effect that none of them knew anything about the deals between Spear, Beckwith and Mrs. Chadwick until the day before the suspension of the bank. He then read several counts of the indictment to the jury in one of which Mrs. Chadwick was mentioned as alias Madame de Vere. Mrs. Chadwick at this point kept her eyes on Attorney Sullivan's face and never moved a muscle. Dawley's Statement. J. P. Dawley, leading counsel for Mrs. Chadwick, said on rising to make his statement to the jury: "The defendant has pleaded not guilty to all the charges contained in the indictment and that is all that she, at this time, is prepared to say. I will supplement that, however, by a brief statement, as we prefer to allow the Government to prove its case. I am not prepared at this time to say just what the evidence will show. I believe, however, that it will fail to show that any action taken by the officials of the bank was by procurement or at the request of Mrs. Chadwick. If they did or did not make entries in their books that is their affair and not one with which Mrs. Chadwick had anything to do. She had no control over them, was not present when they did their work and knew nothing of their transactions. "We expect that the evidence will fail to show that there was any conspiracy between Spear, Beckwith and the defendant. What Beckwith did he did as the president of the bank and without any fraudulent connivance with Mrs. Chadwick. What Spear did was under the direction of Mr. Beckwith and was done by him in good faith. He believed that Mrs. Chadwick was wealthy, was worthy of credit to the amount of the certified check." Mr. Dawley then alluded to the allases mentioned in the indictment, saying that he had no knowledge of why they were inserted there unless it was for the purpose of creating a prejudice against his client. The list of witnesses for the State, twenty-eight in all, was then read and they were sworn in a body. The first witness for the State, Ebenezer Southell, assistant chief of the organizing division in the office of the comptroller of the currency was called. He had barely taken the stand when Judge Wing for Mrs, Chadwick, objected to any testimony being received under the indictment. He claimed that when two persons were charged with conspiracy and one of them was acquitted. the other was. under the law. acquitted without trial. The indictment did not anarge Beckwith and Spear with conspiracy, but charged Mrs.

21. March 8, 1905 Evening Star Washington, DC

Article from Evening Star, March 8, 1905

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# THE CHADWICK TRIAL. Defense Proves That Prisoner Had Funds in Bank. Nine witnesses were examined in the Chadwick trial at Cleveland, Ohio, yesterday, and the defense established the fact that the claim of the government that Mrs. Chadwick had no money in the Oberlin bank at the time of drawing checks which were certified by Spear and Beckwith was incorrect, in two instances at least. It was shown by the journal of the bank, after The Star's report closed yesterday, that on November 3, 1903, when Mrs. Chadwick received a certified check for $10,000, an entry crediting her with that amount was made on the journal of the bank and a deposit slip for $10,000 was made out in her name. The entry and the slip were in the handwriting of Cashier Spear. Another entry of similar nature amounting to $5,000 was also found. These facts were brought out on cross-examination by Judge Wing, counsel for Mrs. Chadwick, after long and tedious questioning of H. H. Avery, assistant cashier of the Oberlin bank. Avery at first testified that Mrs. Chadwick at no time had either money in or credit at the bank. It is doubtful if Andrew Carnegie will take the stand. District Attorney Sullivan said yesterday: "It is not my present intention to put Mr. Carnegie on the stand, and I do not think that he will be called upon to testify unless his evidence should be needed in rebuttal of something introduced by the defense." Robert Lyons, receiver for the Citizens' National Bank of Oberlin, was the last witness of the day. He said that the books did not show that any account had ever existed by which Mrs. Chadwick could draw checks on the bank. All the accounts of the bank balanced, with the exception of that with the First National Bank of Cleveland, where there was a discrepancy of about $27,000 in favor of the Cleveland institution.

22. March 16, 1905 The County Record Kingstree, SC

Article from The County Record, March 16, 1905

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# MONEY IN THE BAN Saves Mrs. Chadwick From Charge Intentional Fraud # CLAIM OF GOVERNMENT FAILS The Defence in the Chadwick Case Shows That She Had Money on Deposit in the Oberlin Institution. Cleveland, Ohio, Special.-Nine witnesses were examined in the Chadwick trial, and the defense established the fact that the claim of the government that Mrs. Chadwick had no money in the Oberlin bank at the time of drawing the checks which were certified by Spear and Beckwith, was incorrect in two instances, at least. It was shown by the general journal of the bank that on November 3, 1903, when Mrs. Chadwick received a certified check for $10,000, an entry crediting her with that amount was made on the journal of the bank and a deposit slip for $10,000 was made out in her name. The entry and the slip were in the handwriting of Cashier Spear. Another entry of similar nature amounting to $5,000 was also found. These facts were brought out on cross examination by Judge Wing, counsel for Mrs. Chadwick after long and tedious questioning of H. H. Avery, assistant cashier of the Oberlin bank. Avery at first testified that at no time had Mrs. Chadwick either money in or credit at the bank. Several directors of the Oberlin bank testified that they knew nothing of the transactions with Mrs. Chadwick. One of them said none of the Chadwick deals were ever reported by Mr. Spear to the directors. An official of the Euclid Ave Trust Company testified that Mrs. Chadwick had $92,000 on deposit in his bank. Horace G. White, bookkeeper of the Oberlin bank, testified that the entry giving credit to Mrs. Chadwick for $10,000 was in the handwriting of Cashier Spear, and that the deposit slip for the same amount was also in Spear's handwriting. Robert Lyons, receiver for the Citizens' National Bank of Oberlin, said that the books did not show that any account had ever existed by which Mrs. Chadwick could draw checks on the bank. Mrs. Chadwick came into court today apparently none the worse for her illness, which caused the adjournment yesterday. She wore the same gown of black and white, as on her first appearance, but had added a long grey veil which covered her face, and was wound, in repeated folds about her neck. Shortly after taking her seat in the rear of her counsel, she removed the veil and took the position she occupied during most of yesterday, her elbow on the table and her chin in the palm of her hand. It is doubtful if Andrew Carnegie will take the stand. District Attorney Sullivan said today: "It is not my present intention to put Mr. Carnegie on the stand, and I do not think he will be called upon to testify unless his evidence should be needed in rebuttal of something introduced by the defense." # Carnegie May Not Testify. Cleveland, O., Special. The cause of the government against Mrs. Chadwick was completed Wednesday afternoon. One witness for the defense, an expert accountant, was sworn, but an adjournment was taken before he had given any testimony. The entire afternoon session was taken up by the introduction as evidence of checks, deposit slips, books of the bank and two letters written by Mrs. Chadwick to Mr. Beckwith and Mr. Spear. One of the letters was written to Spear alone. In it Mrs. Chadwick asked him to certify a check to be given by her to Henry Wurst, of Elyria, saying that she would get the goods in the East to meet the check. "So draw a check for $15,000," the letter said, "and I will sign it, and pay you well for it. I am about to do something of great interest to us all." District Attorney Sullivan laid great stress, in representing the letters to the jury, on the apparent fact that Mrs. Chadwick was asking for the certification of a check not only when she had no funds in the bank, but even before she had signed it. It is practically settled that Andrew Carnegie will not appear in the case at all. There has been nothing in the case as presented by the government that bears in any manner on the papers signed with his name which bore so large a part in the financial transactions of Mrs. Chadwick, and it is not expected that the defense will offer any testimony that will call him to the stand to testify in rebuttal.