Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1886-08-18
GRAY'S AGE.
The Deficiency Reaches About $780,.
OOO-Commotion in the Business CIR.
cies of Boston-The Defaulter Leaves
Town for Parts Unknown.
RosTON. AuO II

| BOSTON, Aug. II.
The managing directors of the Atlantic
mills are still engaged upon the books of the
company in Boston in relation TO the short
age OF VIM. Gray, Jr., late treasurer. A,
present the exact amount of the defalcatiou
cannot be learned with certainty
| In an interview this morning with two OF
the directors, who are anxious that ,hei,
names be withheld, thtse facts were cleaned
| Last Friday the deficiency was discovered
by an examiner appointed by the directors
ana on Saturday Gray went to the office anC
was confronted with the charge After q
| moment or two he confessed the crime. He
acknowledged he had embezzled funds of the
corporation to an extent between $780, OOC
and $500, 900, but as to the use to which he
mad put the money the only reply was "build.
ing operations" This is believed TO be true
by the directors, who say that his operations
of this character in Roxbury have been noto-
nous. 1t is also believed that GRAY told the
truth regarding the amount embezzled and the
directors do not expect to find that it will ex-
ceed $500, 900
Sunday Gray. accompanied by his brother
ln-law and party of gentlemen went on
board his yacht the Huron, and cruised about
the lower Boston harbor and bay during the
day, spending the night below Monday
landed Gray and his friends on Central
wharf. Gray ordered the captain TO be all
ready to sail again at o'clock in the after
noon, at which time he stated he would be on
board. The captain has not seen Gray since
and the Huron still hes at her anchorage
AS soon as he landed Gray proceeded TO
MS nome where he arrived about 10 o'clock
then went to his stable, barnessed his horse
to buggy and drove OFT, no one know 8
where. He told one of his sons that he was
going of but would return at o'clobk in the
evening. Nothing was seen of him after
ward. Mrs. Gray and two daughters are
spending the summer at Old Orchard Beach.
Detectives are on Gray's track No director
would state positively that any criminal pro-
ceedlng had been brought against him as vet.
His bondsmen, who are thoroughly good for
the amount of the bonds, which however are
but nominal, are William Gray, Sr., and an
uncle OF the treasurer, Edward Cunningham,
the former for $4,000 and the latter for
$4,000. The business of the corporation is
moving without interruption. A formal state
ment will probably be made when the &C.
counts are thoroughly examined
Mr. Gray when accused promised to meet
the directors Monday, but he has not turned
up. Prominent directors state that even if
they lose every cent of the $500, 900 the sta
blity of the Atlantic mills will not be affect
ed in the least.
The police have searched in every direction
for Gray, but beyond the fact that he has left
Boston, nothing is known. Detectives have
guarded all approaches to Canada and also
notified the police in all towns and cities of
eastern Massachusetts. The chief hope is
that he may be traced by horse and buggy,
the former being a bay mare with black points
and the latter of Goddard make, nearly new.
Gray is 55 years old, dark moustache
tlnged with grey, top of head slightly bald
wears his hair brushed so to cover the bald
ness, hair streaked with gray, neck and hands
much sunburned.
The officers say he has gone empty handed,
the money which he took having been spent
during the years he has been speculating and
yachting. Gray is assessed for Sl52, $50 and
$4,000 personal properly, all of which, it is
stated, is heavily mortgaged.
The Merchants National Bank of Boston
holds S25, 900 of the Atlantic mills paper.
The company has assured the bank that the
notes will be promptly paid.
The belief which was gaining ground dur.
ing the day, that VIM. Gray, Jr, defaultng
treasurer of the Atlantic and Indian Orchard
mills, committed suicide, seems almost GER
tam IN view of the latest developments in the
case The horse and buggy with which Cav
drove from the city Yesterday, was found
this morning by farmer in Canton, tied to
tree on lonely road not far from Blue
Hill and near Houghton pond.
There were indications that the horse had
stood there all night through a drencbing
rain although it bore no evidence of having
been driven hard. Diligent search is making
for the body of Gray, which is believed to be
either in the woods or Houghton pond. The
spot where the team was found was about
fOur miles from yillaua nv ro;lro,d