New-York tribune., 1874-07-30
LOCAL MISCELLANY.
THE INSURANCE. DEFALCATIoN.

CAsHER-AcCOUNT GIVEN BY THE SECRETARY
OF THE PHILADELPHIA coMPANY-oTHER COM
PAINTS COUNTING THEIR LOSSES.
The Office of Henry Prindlc, the insurance
agent at No. i76 Broadway. presented an animate"
scene yesterday ss creditors, lawyers INSURANCE
agents. detectives. and reporters Appeared Que
after another III. S. Peck the agent ana
adluster Of the Atlantic Pacific Insurance Company
stated that the OF his Company by The dealcaton
could not exceed $3.50. the amount due from Pnnde'
The Company had suspicious OF Prndie III CON
sequence OF his IN delaying remttances anu W
giving q worthless check, wbah was afterward pro-
tested Prndle promised 20 settle, but dld not Keep MS
word
Prudle,s cashier Mr Byrnes makes the following ex'
traordinary statement: Prlnde was man OF eHem'
plary habits, who attended steadily TO his business lie
made large advances to the account OF the Peoples IN
surance Company OF Philadelphia. ana at the unlo nc
left the city instead OF being deaulrer TO ths COM
pany, the Company owed him about $4,000
When asked what could have prompted him to run
away under such circumstances Mr. Byrnes sad ne did
not know unless it was that the Insurance De-
partment of the State intended to begin suits against
HIM for closing business here without complying WIN
the laws Of the State The statements OF Mr Byrnes
are satisfactory to those who claim to be Iaiar
the facts IL IL charged that on Tuesday ateroon
a week after Prinde had fed, Dir. ByrDes receNeu
money on account Of premiums due the Mercantile
of turning 1t over to the Company, he de-
posted it to tho credit OF himself or Prinde'
The responsible agent OF the Company immediately
took measures compel the transfer OF the money IRON
the custody of Mr. Byrnes. 1t is further asserted Mf
Byrnesswas seen In company with Prndle after tae
latter had fled from the Office and that Ne KNOWS oIc
than he 10 tell.
Mr. Helmbod the aduser OF the Peoples Insurance
Company said that just the point OF going to
Phade phia aud hence could give little Information,
lie cautioned the reporters against believing any tnns
the emHoyGs Prndles office might say, as they were
all trying. he thought, to Prinde. Referring to
the statement Of Mr. Hnds he said that he had not read
it, but had doubt that 1t correct The statement
Of Secretary Kinds of the Peoples Company made to
the representative of The Phtadehta Press, Is this
The Peoples FIRE Insurance Company was organized
IN 1882 and did FOR short time quite good business
hut II gOt in bad rcpute through want OF capital, ana
has since been struggling along. About Is months ago
H. PTudle, well hnOwn INSURANCE agent OF NtW-horh'
wear ago and met me at the Office the Glrard Fire
Insurance Company, where hdd Deen empoyJJdd pyJd
Tor over IL years. Pfindie asked me II WOuid
accept The position oil assistant secretary, gy,
knew what bad name the PcOps's - hpany
had, and when / mentioned this 10 him. he told
me II was not in the condition that 1t had been
the month previous. He said that number ot New,
York capitalists had bought mp the stock aud ne showed
mo a inst OF prominent persons who were directors.
Among others were director OF the lndenhitS lIst
son worth over 81 O0OOO and several prominent Phill,
dephaus. He assured that us story was as he hid
asked me if could take the assistant secaelaIyshlP'
He had me elected and accepted the ohce. r. r.
Hollnshead OF the firm OF Ho.iinshead Buch-
man was then the Secretary; he soon AFTER
ward withdrew and L WAS appointed secretary
Mr.. Prndle was the Nice-Presdent aud Treas
urer and had charge all tie funds. lie gave LIE III
rectOns to order everything tnlt wanted oturnsh
my office and said he would pay for IT, Everything
went along smoothly until last Monday, and tie 0usl
ness OF the Company treOed IN that time Prlndo pald
all the losses as they occurred. On April % there was
examination made into the condition VI the concern
by Commissioner Forster aud PIndle came over here
with the securities There s4,i5O deposited with
the United states Banking Company on Chestnut-st.'
above Eighth by him, and the President OF the COM
pany L. Montgomery Bond, gave me a certificate stat
ing that that amount had been deposited 70 the credit
OF the Peoples Company. That was all the
knowledge 1 had handed the certln-
cate to Mr.. Forster. He satisfied aud gave us
"A certificate. The securities then htnded 10 Prln-
die and placed them IN vault in the PcnnsylVdnla
Safe Deposit Company. There was combination lock
placed on iC the OF which PGInde alone knew.
on Monday morning when heard OF this went TO the
bank. could obtain access 10 the vault one OF
the clerks stated that Prnde mad been there Few days
previously III company with another person Tho clerk
could say whether Prndle took anything out or not
such that they could DO carried
a mans pocket. The securities were as foiiows:
state bonus. ooOoo
Union Pacific bonus 2SOOO