The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1874-07-30
ALLEGED HEAVY DEFALC ALTON.
a FIRE INSURANCE COMPANY
SUSPENDS.
4 Former Rutland Wan the De-
saultcr.

such information as could be CLEANED in the
absence of the officials charged with the
duty of investigation, says the 7riJune, it
appears that Harrison Prndle of No. 17G
Broadway represented these companies in
New York, and that sundry inaccuracies
being observable in his statements OF ac-
counts to the Atlantic and Pacific com
plny lie was questioned as to the reason,
but succeeded in allaying suspicion. Re
Gently, however, the company suspected
that all was not right, and A. :. Peck, the
adjuster of the company. was sent on to
make an investigation of the New York
agency While this investigation was 10
progress Prindle appeared to have ecome
timid, and disappeared week ago without
leaving any word ms to his destination.
The accounts were then more critically
examined. and it was found that there was
deficit of $500 40 as indicated by his
true accounts. This sum he is alleged to
have distracted in the course Of year.
This, however, was very triling when
compared witll-the loss which the Peoples
insurance company Of Philadelphia suf-
fered, as will be observed in the following
dispatch from that city:
The Peoples fire insurance company of
this city has suspended. A notice on the
door says: Conformation having been re-
ceivcd that the manager and treasurer of
the company has left for parts unknown,
it is deemed advisable to suspend all fur
ther business"
This company, it is alleged, was doing
business in the state of New York without
having complied with the laws, and Prin-
die had full charge. In his official capacity
he accumulated large sums of money, and
at the time he left was understood to have
been indebted to it for between $50, 900 and
$780, 900. IL large portion of which was
said to be in cash, which lie used at the
time of his departure.
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 T. Lamb of Whitehall $3.50;
,,-nrra,n n. nelmbold, $3.50; Spectator
Insurance .JournaD Company, S2,014; lie
Grande Morris of Monticello, $500; for
loss by fire against which he had insured in
the Peoples company.
The attachments are issued on ailidavits
that the Peoples Company is nonresident
of New York, and has no attorney or
agent in New York upon whom a process
can be served. 1t is alleged that the COM
pany was not legally empowered to do
business in New York, and that any con
tracts they may have made were illegal
and void, and that there can be little or no
redress. Prindle's statement, if he had
any to make, is vet to be obtained. The
sherlfs officers are in possession Of the
Office. Representatives of the Peoples
company are investigating affairs.
Prindlc was formerly Il member of the
firm of Prindle and Mangram, insurance
agents, and represented several companies
of fair standing but the first Chicag) fire
made havoc with them, and the assets of
the firm having been depleted there was
some wrangling, and dissolution of CO.
partnership cnsued.
| A dispatch from Philadelphia says An
clford was made to see John c. Kinds, the
Secretary of the Peoples insurance COM
pany, which has closed Its doors, rclatiye
to tie suspension of the company, but
upon application at his residence it was
found that he had not been home since
Sunday last, and his family had no know
ledge of his whereabouts.
The presidents report of the Peoples
fire insurance company at its last annual
meeting was as follows:
Cash capital. ................S200.00O %
Total assets .................... $780, 6S
Liabilities, not including
capital ...................... 1880 so
Total liabilities ............... 253, 1850 80
The income during 1873
was as follows:
From fire premiums....... $50, 764 2S
From interest on invest
ments ..................... 1,4OO 90
Total receipts. .............. SOL 1G4 2S
The expenditures during
the same time were
Amount paid for losses -. 500, 1915 %
All other expenses. ...... 45476 n
Total expenses. 81 ,672 90
The company was put in the hands of a
Mr.. Paul, who is said to have suddenly left
for Europe, never returning. Mr.. Henry
Coggshall, since dead, then took hold of it,
and transferred his interest after two years
to George Helmbod, who in turn was sue
cceded by VIM. Bird and George Messen-
ger. About year or so ago ii. Prndlt
entered it, becoming the main stakeholder
and the present company was formed, con
sisting OF ID. Rodney King, president; Jno
G.. Kinds, secretary with a manager anc
treasurer" whose name is one of those mat
tiers which no fellow at present can tind
out at any rate it has been a matter of i'm
possibility to find it out as yet. Neither il
it possible to ascertain whether the com
, pany had board of directors.
Failing to be admitted to the presence o
Mr.. Kinds, and the other officials being
/ then closeted in the tightly closed office
: the reporter made his way to the residence
| of Mr.. King, No. 1919 Pine street. who re
| ceived him pleasantly, and the following
conversation ensued, from which the reade
can make his own differences
Reporter The manager and treasure
having absconded, can you tell me who is
Mr.. King-I am astounded that Mr.
Kinds should have taken this action with
out consulting me.
Reporter you know nothing o
this affair
fl Mr.. King-No, sir have been yer.