The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1889-01-30
MOORE MAKES A STATEMENT.
He Says Unfortunate Investments and
Speculation in Wal!-St. Caused His Fall.

He Says Unfortunate Investments and
Speculation in wal!-St. Caused His Fall.
\ reporter called at Mr.. Moore's residence
yesterday and after considerable difficulty sue
ceeded in gaining an audience Mr. Moore
was found reclining on a sofa in a back room
and looked up drearily as the reporter entered
the apartment
81 presume you want me to go through the
same ordeal experienced this morning." said
Mr.. Moore.
81 only desire to ask you two or three ques-
tons, Mr. Moore" SAID the reporter What
action you anticipate the insurance company
will take in regard TO your shortageY
THAT is question which they alone can an
swer. When found that it was impossible
for me to extricate myself from my difficulties
! had no hesitancy in fully informing them as
to the complete extent OF my financial embar-
easements | showed their agent, Mr.. Abbott
everything when he came here TO examine the
accounts of the company. When it was brought
to my knowledge that Mr.. Abbott was coming
here. | fully debated the question in my mind
and decided TO stay here and face the cOnse-
quences / shall make no attempt 10 flee.
am willing TO abide my fate"
What were the causes which resulted in
your becoming SO heavily involyed|
1T is a long story. The source of my ruin
Is contained in the words that / attempted
10 carry too much. Entangement5 crept
upon me almost imperceptibly and at the
very time / was considered most prosperous,
/ was being burdened with the responsibilities
of a dozen men. My troubles date back TO
1880. In 1879 a law was passed prohibiting
foreign interpretations from bringing suit
in the federal court. This hurt my business
very much and for two or three years /
made little or no money, though at the same
time was under heavy expense. had
also at this time assumed the payment of a
large sum of money to a friend who had
Endorsed for me, when | went through
bankruptcy. At this time, also, the
deprecated value OF indianapolis real
estate, which ] had covered in hundreds of
cases with mortgages for the company,
caused me the greatest anxiety. Naturally, as
a business man, felt that | was responsible
for the loss partly, inaSmuch as the money had
been loaned on the property at my instance.
The Connecticut thus loss very largely, though
at no time did the officers of the company eK-
press any doubts as to my good faith.
''When matters took this shape ] went TO
New York and began specializing in stocks. |
made some money, but my difficulties kept in
creasing at home, and ] saw myself becoming
then lost my head and be-
gan TO branch out in all directions
with the hope of retrieving my failing fortunes.
| invested considerable money in the desk
works and sank money in 1t steadily for
number of years, though it is now profitable
concern"
as it true, Mr.. Moore that you lost 100000
specializing in wheat at Chicago two or three
months ago? IL is said that Mr.. Charles Lee,
your travelling agent made the statement yes
terday."
"Mr. Lee had no authority for making such
statement, and do not believe il TO be true"
"Can any truth be accredited to the state
ment%
81 cannot be responsible for every rumOr
which you may hear"
HAS there been any provision made for
your family"
None, whatever. Ny whole fortune, which
/ estimated in the neighbOrhOod of two
hundred thousand dollars, has been swept
away. l have transferred every dollar of my
personal property to the insurance company"
'What disposal have you made of your inter
est in the Moore desk company?
'The entire concern, with the exception of
three OBSERVATION-DISCLOSURES patches of stock, was
owned by myself and family The one-hun-
dred-dollar shares were sold to other parties
for the mere purpose OF organization. Ny per-
sOnal stock consisted of S20.0O0 which have
transferred to Winfield Miller as trustee. Ny
wife and two daughters each possess 5000
worth of stock in the manuactOry, and they
will continue 10 retain the same. The capital
stock was $4,000. The majority of the stock
is now owned, of course, by the Connecticut
mutual, and the business is on a stronger foot
ing than before"
what about the Trust and Safe deposit
company?
well, You can say with the utmost truth
that those who have intrusted me with their
valuabes in the deposit vaults will not lose a
cent The deposit boxes were inviolable.
had no keys TO them, and ! would have been
degraded, indeed, TO have, ia any manner, i'm
periled the safety OF the trusts Everything
will be found there as it was placed"
How about your private banking business
''There need be no fear of loss from this
source. My business in this direction was
very limited None but small deposits
were intrusted in my care and
oil depositors win be fully reimbursed.