Evening star. [volume] (Washington, D.C.) 1854-1972, 1885-12-17
THOUSAND DOL.
LARS GONE.


The Omcers or Georgetown Building
Association Asked to Explain.
THE AFFAIRS OF THE ELEVENTH BUILDING
ASSOCIATION OF GEoRGETowN-THE sECRE-
TARY ASKED TO SHOW WHAT has BECOME
OF MONEY CHARGED TO HIM.
The affairs of the Eleventh Building Associa-
ton of Georgetown have been under examine
ton by stockholders for several weeks. The
books OF the secretary, Mr.. Ferdinand King,
have been in the hands OF committee for in
spection. Tuesday night, at a meeting OF the
association. statement made as the result OF
this examination was handed to Mr.. William
King, who was acting as secretary in place of
his son, who was detained from the meeting.
This statement, which is now in Mr.. Ferdinand
Kings possession, sets forth that $685.
600, taken out of the association
by him in various capacities, on his
own account and as attorney and trustee for
During the past four or five weeks, various
changes have been mad and considerable I'M
easiness manifested amcng stockholders in this
and other Georgetown associations on account
of rumOrs afoat. Mr.. Ferdinand King, it is
stated, has been asked In the association to ex-
plain certain alleged apparent Irregularities in
the account, but has failed to do up to the
present time. This failure is
EXPLAINED IN BEHALF OF MR.. KING
on the ground of his compulsory attendance at
court during the past five weeks as a juror,
| which has permitted him no time to go into
the matter, and because the books which he
would need to furnish data for his explanation
were out of his hands and in the hands OF the
stockholders.
day that the books were returned to his son at
halfpast 10 O'Clock Tuesday night. I'VE will
ge, at it tonight he said and prepare reply
proved and what will be disproved. l have
seen two or three important errors already
hs be oand I sa
examine it and the hooks carefully. One of the
leaves of one of the books was missing when it
taken out Intentionally, and do not know what
was on it. 1t is OF course important to get that
leaf, and that has caused some delay. do not
want to say nything until this examination
has been made and reply prepared. Then we
will have both sides of the story
The association, Mr.. King said, was organized
nine years ago Its existence had been some
what prolonged because of a rule requiring the
payment of per cent interest to stockholders
"The constitution should have been amended
long ago., he said. "That rule was made when
interest was higher and the association has
continued it although rates of interest all over
the country have taien.'
MI, King said that while he had confidence
In his son he would express no opinion until
all the papers had been examined, and it could
be seen just what could be proved and what
disproved.
FERDINAND KING DECLINES TO SAY ANY
THING.
Mr.. Ferdinand King. who Is the secretary of
the association, when questioned this morning
said that he preferred to say nothing now, for,
as yet. there has been but a partial examine
ton, hut have no DOUBT that it will come
out ali right"
A legal friend with him laughed at the publ
cation, and pulling out a constitution of one of
the associations said it was preposterous to
think that secretary could get more than one
which is going to be pricked.
SOME OF THE STOCKHOLDERS SAY
that there appeared in the advertising columns
of The STAR on the 9th and 10th instants
special notice Calling meeting of the stock
holders last night for the purpose of amending
the constitution and considering the financial
condition of the same; that instead of holding
the meeting last night as advertised the officers
met Tuesday evening ut Goddard's hall. The
stockholders hearing TIE rumOrs which
have Travelled the rounds relative to the
committee or three; composed of Messrs.
Leetch, Frisbie and Lawton, to examine the
books and make report OF the examination,
which was done at late meeting. and which
divulged the lamentable condition of the asso-
citation.
Theysay that the books show that in the
neghborhood OF SOS, $40 had been loaned out
and no security taken, and also the examina-
ton discovered that large amounts of money
had been loaned to persons who had but little
invested in the association: that after the COM
mittee had read its report the books were turned
o
the officers Il chance to make IA final statement
on next meeting night.
A number of the stock holders were seen by a
STAR reporter this morning, and the majority
OF them feared that they would not recover 10
per cent OF their money and few OF them
stated their intentions of inStituting suits This
association was considered the best paying one
in West Washington, and was expected to wind
up its affairs q month or so ago.
AN angry GATHERING.
The gathering at Goddard's hall last night,
t1o3 hx-f ,ntin in, ,
angry an asseInblage could be found any,
where imposed mostly of workingmen, whose
savings and ali were in this association. There
was no explanation given why there would be
no meeting, and the crowd dispersed, angrier
than ever.
WHAT THE TREASURER SAYS.
Mr.. Robert E. Frey, the treasurer of the asso-
citation, said to a STAR reporter to-day that he
had nothing to say about the association. ex-
cept that he had accounted properly for all
moneys received and disbursed by him. He
showed his books. with the accounts
bearing the approval of the finance COMMITTEES.
All funds drawn from the trea Surer are drawn
by check signed by the president and secre-
tary upon the treasurer. who thereupon checked
the money from the depository, the Farmers
and Mechanics National bank.
OFFICERS OF THE ASSOCIATION.
The eleventh association is the oldest of the
present series. Its officers are William Cla-
baugh. president: Robert f. Frey, treasurer;
The
Bowling, S. Thomas Brown, ID. F. Robinson,
John Letch, and John Givens.
The secretary is not a bonded officer.
Mr.. King, who is in the wood and coal bust
ness with his father, has been very active
NEUTRALITY-SUSPICIOUS. man, and is secretary of
several associations besides the Eleventh..
Directors OF the association, to whom STAR
reporter talked, declined to make any state
ments at present concerning the affairs OF the
association. There are. it is said, about 200
shares Of the association still uncancelled.
THE TWELFTH ASSOCIATION.
Notices have been issued by Mr.. King, as sec
rotary, calling a meeting Of the Twelfth Bnild-
ing association "to take some action to settle
the affairs of the association. the assets of the
association not being sufficient to pay the
stockholders in FULL
USEAsINEss IN OTHER ASSOCIATIONS
The Twelfth, Thirteenth and Fourteenth
building associations have practically the same
officers as the Eleventh, and stockholders in
these associations consequently feel some I'M
easness.