The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1886-08-18
TREASURER CRAY.
General Belief That He Has Com
mitted Suicide.
The Amount of Cray's Defalcation
Set at Nearly 5000, 900.
An Expert Engaged in Examining the
Books of the Companies.

BosToN, Aug 1.-THE managing directors
of the Atlantic Mills are still engaged upon
the books of the company in relation to the
shortage of William Gray, Jr., late treasurer.
At present the exact amount of the defalca-
tion cannot be learned with certainty.
In an interview this morning with two OF
the directors, who are anxious that their
names be wishheld, these facts were cleaned
Last Friday the deficiency was discoved by
an examiner an examiner appointed by the
directors, and ON Saturday Gray went to the
Office and was confronted with the charge.
After moment or two he confessed the
crime. lie acknowledged he had embezzled
funds of the corporation to an extent OF be-
tween $5O0,OOO and 100000, but as to the use
to which he put the money the only reply
was building operations" This is believed
to be true by the directors, who say that, his
operations of this character in Roxbury nave
been notorious. 1t is also believed that Gray
told the truth regarding the amount .embez,
zled and the directors do not expect to hnd
that it will exceed 5000, 900. Sunday Gray,
accompanied by his brother-in-law and par.
ty of gentlemen, went on board his yacht,
the Huron, and cruised about the lower Bos-
ton harbor and bay during the day, spending
the night below Monday morning the yacnt
came Ep to the city and landed Gray and his
friends on Central wharf Gray ordered the
captain to be all ready to sail again at 2
o'clock in the afternoon, at when time ne
stated he would be on board. The captain.
has not seen Gray since and the Huron still
lies at her anchorage. AS soon as ne LANDED
Gray proceeded to his home where he arrived
about 10 o'clock, then went to his stable,
harnessed his horse to buggy and drove
off. no one knows where. He told one 81 his
sons that he was going off but would return
at O'Clock in the evening. Nothing was
seen of him afterward. Mrs. Gray and two
daughters are spending the summer at Old
Orchard Beach.
tor would state positively that any criminal
proceedings 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., an uncle Of the treasurer, EDWARD Gun
latter for 5000. The business OF the cor
poration is moving without interruption. A
formal statement will probably be made
when the accounts are thoroughly examined:
Mr., Gray when accused promised to meet
the directorr Monday but he has not turned
up. Prominent directors state that even II
they lose every cent of the 5000, 900 the sta
bility of the Atlantic mills will not be AFFECT
ed in the least.
The police have searched in every direc-
tion for Gray but beyond the fact that ne mas
left Boston nothing is known. Detectives
have guarded all approaches to Canada and
also notified the police in all towns and cit
les of eastern Massachusetts,: The chief
hope is that he may be traced by horse and
buggy, the former being bay mare Win
nearly new. Gray is 55 years old, dark
moustache tinged with grey, top OF head
Slightly bald, wears his hair brushed so to
cover the badness, neck and hands much
sunburned.
handed. the money which he took having
been spent during the years he. has been
speculating and yaching. Gray is assessed
for $152. $50 real and $4,000 personal proper
ty, all of which, it is stated, is heavily mort
gagged. .., p 80 poston
holds $685. 900 Of the Atlantic mills paper.
The company has assured the bank that the
notes will be promptly paid.
Boston, Aug. IA belief which has
been gaining ground during the day is to the
effect that William Gray, Jr., the defaultlng
treasurer of the Atlantic and Indian Orchard
most certainty in view Of the latest facts in
the case. The horse and buggy with which
Gray drove from the city yesterday was
found this forenoon by farmer IN canton,
tied to tree on lonely road not far
from Blue Hill and near HOughton's Pond
The indications are that the horse had stood
there all night, through the drenching rain,
although it bore no evidence of having been
driven hard. The farmer apparently did not
realize the Importance of the discovery, as
he only reported the fact to the police tonight,
Diligent search is being made for the body
of Gray, which is believed may be in the
woods or Houghton's Pond, where the team
was found about mile from the vii
lage or railroad. No new facts OF import
ance concerning the defalcation have been
made public today.