, 1869-10-02
TILE CLARK HOLT DEFALCATION
IN CONNECTICUT.
g.in nbsIstsc~ HvcF,aa QunrsnF OF a MILL
ton-yFiuoNK md orphans 1ho


From. The Hartford Caurant, Stpk es-
The q nnanclal Irregularities Of Clark Holt, OF
Rockville, have already been referred 10 In fev-
9os,py sceoans ssi u M esen sen * he pas,ic. IL
order 10 al,ow the precise sitnatlnn Of a0ttls 1t
Will BE- necessary to noiice somewhat the business
@ hefere she PEOPLE 81 Tol!and coun,1 - seeretar}
OF the ToNxnd County Autrsl Fire Insurance Com.
pany. lie was the rTst Secretary Of the company,
sn ssFyed u t5as capns re 70 ~ % ~ a9Se2ta
yeAfH ago, elected President aud Treasurer.
Soon afler ne vas engaged IN the Hsnufac'ufr nt
thrtad 10 koesyiae. oestnn!ss IN q xmall ~
Apparently profitable business. Meantime he lc-
tancd hih position rs the responsible otcer OF the
n1e eoTnanE :, H. II. .ss not q an ~ rn .n@
tiE qucs. unAssumlng way Of managing his
a1atrs, perhaps, was one feA.on Why people gen
srsy gave nm as s,edi5 of 40 a9pg H. pTospssnaods
coundence Of I'll cIaster. No m1n IN To!lhnd
County hns Stood higher. II poor woman had
ss T. 81 fFa eF m a seres Se1 T.
Nothing Whatever appenrrd in any Of his fEanFac.
tiuns to warrant the slightest breath Of suspicion
VT VII r. recent dale, wnen the rapid extension Of
his business operations led nome or bis mott init
mate 4cqrainiAaces to fear that he might not long
he nnlc 70 keep hs credit: 9es barely whisper Of
pectcd trouble was coming, though they SAID
nothing abogt It, tins coniesstns 70 serious
Gq1oI4 n lllS}{ BuBPtC]9uA UC1lN HC1b ju0QuEU4
issE1s or TIE fEsuHAECK CoArANT.
The annual meeting Of The fte insurance com.
pany WAS held In June last, and Little m!strust
At that time concerning The wisdom OF longer
coniInuing Mr. 1fa1t 10 o1lce. One Director, II
ieaet, held out 70 hr las, md nsny cat his vote
10 examine the accounts Of tho Trea5urer--Hhlch
| ttcy nad always done with the caution Of prudent
Een--toe securities Of the COMPANY. which were
Kept in email TN trunt, we're not opened IN tne
business 0i{,ce but In smother fnOm These fecn.
1l!ies nmorntcf 10 between fI5. ON and $s'.G0i,
and aotnr tsa,o9o we're IL government b2ad.,
/ Nil the slightest evidence Of anything being
| wrong vas discovered.
| ABOUT THE BoSDs
borrowed, Tor the occasion ~ Mr. tuft to coEer uI
his Cclalcattnn. lie ca1.e TO Hartford Just rr1ol
10 the annual meeting Of the cosnpanT. anu whilt
Eere etlssrcFeh 10 secure the loan Of bonds from
I different parties, gnioR, In one Instance to well
kuown dIy. Rpodf merchant, End In another to tht
oat,on was Va refused. lie sueceedej. @ hoEeSer, e!se
where il geEttng the amour. required to make uI
the rccursiies for tue time betng. 1t II xuo IN tha
| o. money placed IN hls hands BY various parties
| and a portion Of this fund ~ will hereafter hp
pear. wus in United States honds, which he coult
Possibly only n few thousand more xouid b,
necessary to cover the whole amount needed II
! that t.anlacton.
Nj. Holt estabt,xhet business firm IN Ntv
Yorf, updrr the name OF c. Hot L Co bis broth
| or belDg tEc silent partner and the general maua
became considerably mixed mud saspeuaon Eo'
lowed, which pFectpttated the developments her
nt home. 1t IS said lhal Mr. Holt turned oSer N
$a',ocu tn bennA 10 the nrm ana took noses there
lot, 20 that IL case the deep game he WAS plasla
should become exposed, AID he should appear
the light Of 4 Szimt.al, he cncln produce taes
The plea thai, ~ the custodian OF the furts Of b
Insurance COMPANY, he had n right Ia reia7cst Il
5. cuf7lie1 III such manner as he saw dt.
RxTENT or H1a oFK,kATtuS&
Ttnke who slare examined into the extent I
Its tcI3.iooF heltcsc that hta liabilities exccel
quarsrf Ut u,t&:on Of d0llsrs. ana mar 70 4. hH
aorro<e1 1hs. be has gone oe7Ii.e.s, as nothtu
BrpeAra to sEow where he could hare dlspos sed
eli The n.o.1rs in his hands. His property u q
heavily mostgacca, md all OF II rnt t2geth
cnsFs or uAnpsn1r. ..
| Tha Wn1st feAluIe ahont his transactions Is Il
| heavy loss which fails upon l7EJc cliss
, | ptople In Moderate circumstances 10 MAJ
j respects bis operations have been slmIar 10 tho
which preceded the failure of Curtis l. Mort
! 10 Mefi:en many years ago. failure wnl
brought rntp 10 huudEela Aad caused ps
found sen*u,lon throughout the State. IonurIss
ah.c inItauces almost might be cited 10 show t
iphunanttv OF the man II It aAa!i finally turn 9
9 that he had not sense Of honor enough to p7ost
boptsf one sas case reprtc of a5
! maiden iaAIcr. who had 1900 in gosetum*
: tonds, md ahout &I,eo0 Ia other securities
i thst they po<sc@sers except a little homestead
. which wfrr p!aertt III bis Keeping. A .onnX a
: Hhp hal accuEM!H.ed about E, 511 let Mf. IL
! hasc Il Because he believed, as nearly cTerJbo
did, thnt he was a. good. II not better, than I
: bank. Sls ce the +e:alc2ton came 10 light notbi
/ can I've fonn1 OF these uuss funds. Tac ahscond
s has t5tdedtly made a clean Ewecp OF cveTJtatr
thonEil he mar Onrr some redress hereafter.
thr HAtter nov stands, however; the hardship (
: tailed ts OF tho 8eTcrest character, and Is vii
spread Throughout the nnlss OF TollAnd C0un
affecting old aud JounR, widows snd ehop ,Ess
| The bnt!ncss community also suffers largely.
l 0ne individual alone Is on his paper to m amor
exceedtrg $a0,ONl
. pis71Nc71ok WITHOUT 4 DIFFERENCE.
y The Legislature Of Co1nectfcur. In rs wIAau
q has DECLARED that Il a man shall appropriate
!, | FINDS oi a bank or IN Insurance company he Al
g luffer for his offence ~ term Of tmpr.sc umtnt
= the state Prison. Bul II he accepts as 4 a4cl
e trust the harl earnings oi the POOR ard asscon
!. he Is oulY guilty OF 0rr3ch OF trust And thn
= cannot touch him. Nj. Holt . worat offence IA
% rohbfnT Of !nc poor, wno can have no ea1lAf
= ttou; corporations robbed n.ay-unless dtSro
q | 10 compound fGIonr, ~ Is too often the CAS-
= tmn]ov detectives and bring the criminal to
i | t1te, So fat 3lr Holt has pursued his GAvcta
,e noestcA, and II nc returns viii do 80 vou1rar
@ kEcErfTr OF THE COMPANY.
&c Il ehpuld be tinted here that The lota U the
~ su11nce company dres mt atfcct IT. tounhues.
thc least. There still rrnhu assets nouattns
y sAMe Or ovrT, and IFS policy holders need
" gtye thenselscs any uue1%tnes1 Whatever.