Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1874-08-05
Heavy DefalcatiOn.

| Harrison Prindle of 176 Broadway, New
York, is reported by the metropolitan pa
Ders to be heavy defaulter. He was
quite we'll known in insurance circles in
| Vermont, having been associated with Mi.
| Durnham of Rutland, who was Gov.
Pages Secretary. in the insurance bust
less. Prindle was an Arlington boy; was
year or two in Middlebury college; was
.dlutant of the 18th Vermont regiment and
Is son-in-law of Hon. A. L. Miner of Man.
chester. After leaving Rutland he went
into the insurance business in New York,
With one Mangrnm, but the firm was not
successful and he afterwards set up alone.
The statements regarding the defalcation
are conflicting, the substance of them be-
NO that he took hold of the Peoples Fire
Insurance Company. which was in bad
condition, gave it a large business, and has
now departed leaving the company no
funds. The following statements show
both sides of the story. There is rumor
that he has for several months paid much
toward the support of fast woman of
New York.
Thursdays New York Tribune says:
The office of H. Prindle, the insurance
agent, at No. 176 Broadway, presented an
animated scene yesterday. as creditors,
lawyers, insurance agents, detectives, and
reporters appeared one after another. IL.
S. Peck, the agent and adjuster OF the AT
lam INV
stated that the loss of his company by the
defalcation could not exceed S3,34O. the
amount due from Prindle. The company
had become suspicious Of Prindle IN con
sequence of his course in delaying remit
tances and in giving worthless check
which was afterward protested. Prlndle
promised to settle, but did not keep his
word.
Prindles cashier. Mr.. Byrnes, says Prin-
die was Il nun of exemplary habits, who
attended steadily to his business. lie made
large advances to the account OF the Peo-
ple's Insurance Company of Philadelphia,
md at the time he left the city instead OF be-
ing delaulter to his company, the compa-
nv owed him about $4,000
The statements of Mr.. Byrnes are mo-
satisfactory to those who claim to be ia
miliar with the facts The statement o.
Secretary Kinds, of the Peoples Company.
stated to the representative of the Phttadet-
pl,ia Press, is:
The Peoples Fire Insurance Company
was organized in 1859, and did for short
time quite a good business; but it got in
bad repute through want of capital, and
has since been struggling along. About
eighteen months ago H. Prindle, well
known insurance agent of New York, took
charge of its affairs Prindle asked me if
would accept the position of assistant
secretary. | knew what a bad name the
Peoples Company had, and when | men
toned this to him, he told me it was not in
he same condition that it had been. He
said that "A number of New York capita
lists had bought up the stock, and he show
ed me LIST of prominent persons who were
directors Among others was director
Of the Indemnity Trust and Safe Deposit
Company of New York. another person.
worth over 81 100000, and several promi-
nent Philadelphians. He assured me that
his story was as he had stated, and | was
convinced that it was correct. He had me
elected. and l accepted the office. Mr..
Prindle was the Vice-President and Treas
urer, and had charge of all the funds.
Everything went along smoothly until last
Monday, and the business of the company
trebled in that time. Prindle paid all the
losses as they occurred. On April 18th.
there was an examination made into the
condition of the concern by Commissioner
Forster. and Prindle came over here with
The securities. He placed them in a vault
in the Pennsylvania Safe Deposit Compa-
ny There was a combination lock placed
on it, the secret of which Prindle alone
knew On Monday morning, when | heard
Of this, | went to the bank, but could not
obtain access to the vault One of the
clerks stated that Prindle had been there a
few days previously in company with an
other person. The clerk could not say
whether Prindle took anything out or not,
but the securities Were such that they
could be carried out in mans pocket
They were rs follows:
Loans on MORTGAGES $4,000
State bonds, 65666
L. :. Five Twenties. $1,000
Union Pacific bonds. 2S.GO0
Total S195.65
Prindle WAS in New York on Friday