New-York tribune., 1874-07-29
LOCAL MISC, ,sLLANY.
ALLEGED HF Wv nFFAICATION.

ALLEGED hf .AvY DEFALCATIoN.
DISAPPEARANCE Oh rHs AGENT OF rHlLADErPHA
AND CHIC .Sol INSURANCE CoNPANy-FXTENT
OF THE .cssss-sUsPENsIoN OF THE PEOPLES
NsUF..SCR COMPANY OF PHILADELPHIA.
lnsr. rance circles we're excited yesterday by
The report OF heavy defalcation by Henry Prlndle,
of the Atlantic and Pacific Insurance Company OF
Chicago and tho Peoples Insurance Company OF fha-
sepho From such information as could be Cleaned In
The Of the officials charged with the duty OF In
cation IL appears that Henry Prinde OF No l7o
B adway represented these companies here, and that
ndry being observable in his statements
roi accounts TO the Atlantic and Pacific Company ne
was questioned 10 the reason, but succeeaeu III
Alayfng suspicion. Recently. however, the COMPANY
suspected that all not right, and A. s. Peek inc az"
jass OF the Company, sent on to make an
-. on OF the New York agency. While TINS lhNesIsa
tp was in progress Prindle appeared 10 nave oe0oo
smid and disappeared week ago without IeaNns any
.ord as 20 his destination. The accounts were theh
more critically examined, and 1t was found tha the'e
was deficit OF $500 40 as indicated oy his true ae
counts This sum he is alleged to have aostraeted IN
the course OF ayear. 80
1his, however. was very trihing when compared win
the loss which the Peoples Insurance Company OF
Philadelphia isuered will be observed IN the ioiiow
ing dispatch from that city
The Peoples Fire Insurance Company OF this city mas
suspended A notice the door says: Information
having been received that the manager and treasurer OF
advisable TO suspend all further business
This Company IT is alleged, was doing business IN this
state without having complied with the laws, and
Prndle had fun charge In his official capacity ne
accumulated large of money. and at the time
he left was have been indebted 10 1t for
between sooO and $4,000 large portion of which was
said 20 be IN cash which he used at the time OF his de-
parture.
As soon as the fact OF his disappearance became
known suit was begun against the Peoples Company
and attachments issued in behalf OF several creditors as
follows william Lamb, $3.50; William H. HelmDoid'
s25o: Spectator Insurance Journal Company s20lI
lie Grand Morris Monticello. $780, for loss by fire
against which he had insured in the Peoples Company
The attachments issued on affdavits that the
Peoples COMPANY nonresident Of NewYork and has
DO attorney or agent here upon whom a process can
be served 1t is alleged that the Company
was not legally empowered to do business
here and that any contracts they may have made were
Illegal and void, aud that there can be little or no re-
dress Prindle's statement. If he has any to make Is
yet 70 be obtained. The Sherhs officers were IN pos
session OF the office at the time TRIBUNE reporter
called and expected TO remain until the execution was
removed Representatives Of the Peoples Company are
here investigating affairs.
Prindle formerly member OF the firm oi Prlnole
n Mangam, insurance agents Of this city, and repre-
sened several companies of fair standings hut the frst
Chicago fire made havoc with them, aud the assets OF
The firm having been depleted there some wrang-
ling and a dissolution of copartnershp ensued
dispatch from Philadelphia says: An effort was
made 10 John Hnds the Secretary of the Peoples
Insurance Company, which closed It's doors to-day rela
i've to the suspension of the Company, but upon appl-
ration at his residence it found that he had not
been home since Sunday last and his family had no
knowledge Of his whereabouts.
THE PRESIDENTS AsTOSIsHMENT
Frors The IhflddtThia kttn.n4 Telegraph, July 2S.
The Peoples Fire Insurance Company was
Incorporated March Is 1852 and set ont in business on
the following July. According the last report OF the
Insurance Commissioners Of this State It's status AT the
end Of 1878 follows the cash capital being put az
$4,000:
ttii ase...s..'.. viott p
Liabilities. rot Meucng caiitAl........s." o9a.ouu ~
Na l6t4llts 200 ooV ~
The income during 1873 was as follows:
Frau fTe pe $50 764 %
interest iuyest l4OU 90
Totsl receipts Observation-Disclosures. sGl,lG4 2S
The expenditures during the same time We're:
Amount uaa for osses.................. S26.lS5 %
Al oher ACKNOWLEDGEMENTS. 45s76 n
Tc. e,renses OBSERVATION-DISCLOSURES. AZ 672 90