Daily Kennebec journal., 1884-02-16
GRAVES FouxD GUILT


A. indicated in our dispatches yesterday
morning, H. s. Graves, indicted for using the
United States msl for fraudulent purposes,
was found guilty and sentenced 70 pay ane
Of $5 and eight months in Jail on Thursday.
The defense claimed that no swindls vas
intended; that in return for the 20 cents
advanced BY parties answering his advertise
menn he forwarded . certain kind Of match
safe, with circular urging the recipient to
engage in its sale, and that the business vas
done in his own name and With NO attempt 1t
concealment, Mr.. Graves II . native of
Montague. Mass, and previous to his coming
to Portland, he engaged in the same business
in Holy yoke under the name of II. Lincoln &
Co. The responses that he there re-
ceived to his advertisement lead him to
believe that his scheme Of building m
an agency for the sale Of articles would
be successful, and he determined to 70 else
where and continue his work in his own
name. In leaving Holyoke be went to New
York to see parties furnishing the match
safes. sad ordered his mail forwarded to
Worcester, where he could obtain it on his
return. after which he proposed to 60 to
Manchester. N. H., and locate. bat returning
to Boston by boat he allowed his mail to
remain uncalled for several days, he in
the meantime going to Manchester and Ar
ranging for the insertion Of his advertise
ments in certain papers Manchester. how
ever, did not suit him, ard he came to Port
land and ordered his mail At Worcester and
Manchester rwarded to that city. The sd
vertisement he subsequently inserted in
the Maine papers, giving his address a. Wood
ford's Corner. He now gives as . reason for
this that he had not the means 70 open an Of
fee in Portland, and people reading his ad
vertisements might think him . swindler.
During this period of about three months he
forw arded several gross of safes to parties
writing him, but failed to make much money
and while in Manchester he went to Lowell
and pawned his watch, and subsequently
pawned his overcoat in Portland, and on
changing his boarding place left with his
boarding mistress as security . gross Of the
safes he had then on hand. The cost of the
safes when purchased by the gross was over
four cents each, and the fee he charged in his
advertisements tor furnishing employment
was twenty cents. F. v. Chase, Esq and
Clarence Hale, conducted his case.
The Connecticut Mntaal In Ise3.
The yearly record of the Connecticut
Mutual Life Insurance Company is one of
unvarying success. Nothing else could be
expected from an Institution whose manage
ment continues in the hands of President
Greene and Secretary Taylor. In the reports
to which their names are appended may
always be found the gratifying evidences of
increase in everything but expenses. They
understand so we'll the arts of wise economy
that they have reduced the ratio of cost to
receipts to the low figure of SO per cent
Their gain in income from rents and interest
last year was $685. 705, ,08. bringing the total
income up to 1870, ,222 81, of which s., ,78l,-
s5l.79 went to policy holders, and 81 ,043,-
209 Al into the net assets. The incidental
real estate business of the company is con-
ducted with great shrewdness. Last year its
profits on real estate sales we're S6l, lis 20,
and its first mortgage loans on that solid class
of security were increased 1866, ,697 from
current income and reinvestments. part
of this money came from the sale of high
premium bonds. bearing low in'erest. by
which transaction net profit of l0,93G. 20
was realized. The energy and vigilance of
the officers at home are shared by the numer-
Gus agents in all parts of the country, and
again these faithful servants are enabled to
report met premiums in course of collec
tion-NoSE." After such showing nothing
can surprise the reader of this 38th annual
statement. 1t follows quite As matter OF
course, that the Connecticut Mutual holds a
surplus of S4,064 ,259.45 over every con-
tingent liability, as estimated by the high,
est legal standard of solvency--that of Con-
necticut and Massachusetts-a gain of 1888, )
4l2 "a over last year. BY the company's own
extremely severe standard its surplus is g.,
026, 276 Al, while by that of New York State
it is over $7,000.00O.