Morning journal and courier., 1889-01-25
News by Telegraph FROM ALL QUARTERS. |AHuGE DEPRECIATION. The Mutual Life Insurance Company SwindIed. OKLAHOMA BOOMERS EVICTED. The German Press AWakes
 From Its Lethargy. ACCIDENTS OWING TO k FOG. senate And House Differ
 ences On The Tariff.
ACCIDENTS OWING TO k FOG.
ATRrwHNDoUs DEFALCATIeN.


 An AstonIshing Announcement Made by the President of the Connecticut
 Mutual Life Insurance Company of Hartford-The Defauiter is Joseph A.
 Moore of Endianapolis-Actual Loss
 About $40O,OOO.
 HARTFORD, Conn.,, Jan. 24.-Colonel Jacob L. Greene, president of the Connecticut Mutual Life Insurance company of this city, made public the following announcement this evening:
 CONN. MUTUAL LIFE INSURANCE Co.,, HARTFORD, Jan. 24, 1859.
 To policy holders: It has just been discov- cred that the financial correspondent of this company at Indianapolis, after sixteen years of service, during which time he has had the unlimited confidence of all the directors and officers and of their predecessors, is de- faulter. For the past week his accounts have been under investigation and dedication has been found. The extreme amount in- volved is about $500,000 He has restored to the company property which may reduce the actual loss to $400,000. The amount of the loss in either event will not in any degree effect the company's solvency nor even interfere with its regular dividends. The past year has been very prosperous, and, in spite of this unexpected loss, the company will make heavy gain in assets, pay larger dividend than last year and probably increase it's already large surplus. Its forthcoming annual statement will show assets of the most solid character, amounting to about $57, ,500,- 900, with surplus of about So, ,25O, 900. In behalf of the directors,
 JACOB L. GREENE, President.
 The agent is Joseph A. Moore, leading citizen of Indianapolis, about forty-fve years old, who has hitherto occupied high posi- tion in that community. He has been spec ulating. Colonel Greene was interviewed on the subject and said: This steal consists of three par.s: The principal of loans paid to him by borrowers, to be remitted to the company; interest paid to him for the same purposes; and rents collected by him on real estate in his care. The theft of principal and interest he concealed in part by more or less frequent payments of interest on the loans so taken, and in part by most inge nius and consistent series of falsehoods in response to frequent and careful inquiries by the company, representing these borrowers as being in financial difficulty anxious to struggle on and pay thelr debt and save their property from fore- closure, end confident that they could do it with leniency on the company's part, and promising that they would make pay ments whenever possible. The payments of interest made by him on the loans he had taken were represented, of course, as coming from the borrowers themselves, with cir cumstantial statements of their condition
 
 pathy and make the company hopeful of 8 satisfactory conclusion. He continually rep- resented himself as carefully watching these people and doing all in his power to aid them to worry through. These thefts began at 8 time when there was great deal of f. naneial distress in Indianapolis, and when the company not only did all it could to aid borrowers in saving their property, but was compelled after all to take in great deal of real estate; and this state of depression came later in Indianapolis than else- where and continued 8 long time, go that MT. Moore's statements were entirely consistent with, and apparently continuous part of the previous history. Many cases thus in arrears were actually brought out successfully, thus apparently further con- firmiDg his representations. Meantime he was constantly remitting for borrowers very large sums of money in correct manner. His position and reputation and his energy and ability, all made it apparently impossi- ble that he could betray so great trust He was selected for the position in 1873 by the late Major James Goodwin, then president of the company, and had the entire confidence of the officers and directors. The rents talk en are a comparatively small item and could be easily concealed by misrepresentation as to short time verbal leases. This is the only loss, through a financial correspondent, the company has ever experienced in the forty three years of it's career.
 INDIANAPOLIS, Jan. S4.-6reaI aSIonlsn" ment was created in this city tonight, except among select few who are in the secret, by the announcement that Joseph A. Moore was defsulter to the extent of $400, 900.
 Mr. Moore was born In Madison, this State, and is a son of banker who was largely in terested in the branch of the old State bank of Indiana located at this place. Mir. Moore came to this city 25 years ago and entered the employ of Fletcher & Sharpe, bankers He remained with them several years, and married 6 daughter of Mir. Sharp, after which he entered business on his own account. He is prominent member and vestryman of St. Jaurs (P. E.) church, and his personal habits are unexceptionable.
 A prominent banker of this city saw | Moore at a late hour this afternoon and the ! latter informed him that he was in a serious | financial difficulty with the Connecticut Mutual. The banker inquired why he did | not call upon his friends to come to his relief | and MT. Moore replied that the amount was | so large that he would be unable to obtain \ money enough to tide over the difficulty. To | the banker Moore stated that his debts in the city were few and small in amount and am