The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1878-04-13
FALL RIVER DEFALCATION.
Further DereIopments.

FALL RIVER, MASS, April l2.-SOma
further developments have been made IN
/ the Chsce deta!cstion, it being shCwn
that the control of the mill wss In the
hands Of Chsce and his immediate !smi-
~, Mr.. Chsce holding Al shares in MS
I own name and controlling Others, the d.
| rectors being comparatively small stock.
/ holders. The scheme of building the
new mill was pushed through by him
4 against the wishes Of the more cOnservs.
tive directors. They were o-t voted,
and through his desperate efforts be was
enabled to fost his debts IN the markets,
where the directors were but little sc.
ousinted. It is stated that his
wife knew nothing Of his embez-
element and all her private
properly will be swept away by the treSch-
erous action of her husband. He slso
induced his bro!her-in law, II. B. Dur
Zee, Treasurer of the Fall River Manu-
featuring Company, to allow him TO
draw against $4,000 worth OF goods sold
by the corporation OF which Durtes Is
Treasurer, and the latter is placed in the
position of deIauter unless the
amount is restored. DIrlee has been in
vited to resign his position. Chsce hss
remained at home suffering from intense
nervous prostrstion, snd declines TO
make any statement. It Is SAID that he
estate of the late DR.. Nathan Duriee, of
which he was one Of the executors, but
nothing Is known as to where the balance
of the money went. The directors pro-
pose 20 siit the matter to the bottom.
The creditors of the Union Nil, Co. are
al. confined 10 banks, hIllburn, Lincoln
IL Go. being creditors ior almost $4,000
for looms, and Messrs. Whiten X Co.
100000 tor carGing machines. Various
expedients have been suggested to settle
with its creditors. Ole Is, the mill shall
make sn assignment OF lis property and
the directors ci sil their individual
properly to trustees TO hold for the Dene-
lit OF the creditors, and attempt the eI-
pertinent of working out the loss, the
creditors, of course, to grant sn eXton-
sion running over several years. An
other is that new company bo formed
under the present corporate name TO
carry on the business, but some OF the
stockholders have a feeling that nothing
should be done until full and complete
discovery is made of all the facts. Henry
Pesrce, of Providence, who attached the
mil, assented 70 day to allow the mill to
run, but after to.mUrrow 1t Will be shut
down indefinitely. l. is not likely Mr..
Chace will be placed undr arrest until
the directors have exhausted every pos.
sible means to discover where the money
has gone. 1t is considered here that he
has nothing lett, but in addition TO his
defalcation, it is said, he sqandered the
proceeds OF several bequesls which he re-
ceived during the past year. When
these are considered in connection with
the last enormous de'slcation, his mis-
appropriation will exceed the pres
ent estimate. The general feeling
here is that the worst feature of
the calamity IS the depressing
effect it will have on the Fall River
manufacturing interests, but there Is a
determination expressed by the corpora
tion directors to adopt such precautIon-
ary measures that similar disasters here
after will be impossible.