Wichita eagle., 1889-01-25
AN 0FT-ToLD TALE.
After Many Years of Service an Insurance
Agent is Proven Defaulter.


Agent is Proven Defaulter
HARTFORD, Conn, Jan. A.-Colonel ia
cob L. Green, president of the Connecticut
Mutual Life Insurance company, of this
this evening: ut has just been discovered
that the financial correspondent of this
company at Indianapolis, after sixteen
years of service, in which he has had the
| unlimited confidence of all the directors
and officers and of their predecessors, is a
defaulter. For the past week his accounts
have been under investigation and def
cheney has been found. The ex-
IRENE amount involved is about
S5OU,V00. He has restored to
the company property which may
reduce the actual loss 100000 The
amount of the loss will not in any degree
effect the company's solvency, or even in
| terfere 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 proba-
| bly, increase its already large surplus. Its
| forth coming annual statement will show
assets of the most solid character, amount
ing to $4,000, with a surplus of about
| s., go, O00''
The agent is Jos A Moore, a leading
citizen of Indianapolis, about As years old,
who has hitherto occupied higher posi-
zion in that community. He has been
specializing.
The payments of interest made by him
on the loans, which he had represented of
course as coming from The borrowers
themselves, the circumstantlal statements
of their condition and prospects were well
calculated to excite sympathy and make
the company hopeful of satisfactory con-
clusion. He continually represented HIM
self as carefully watching those people
and doing all he could to aid them to
worry through. These thefts began at
time when there was great deal of finan-
cial distress in indianapolis and when
the company not only did what
it could to aid borrowers in saving
their property, but was compelled after
all TO take great deal of real estate and
this state of depression came later in In
dianapolis than elsewhere and continued a
long time, so that the statements were
consistent with and apparently contlnu-
Gus part of the previous history. Many
cases thus in arrears were actually
brought ont successfully, thus apparently
further confirming his representation.
Meantime, be was constantly renting
for borrowers large sums of money In
correct manner. His position and reputa-
ton and his energy and ability all made it
apparently impossible that he could betray
SO great a trust" vssss
Colonel Green was interviewed on the
subject this afternoon and said: This
steal consists of three parts: The principal
OF loans paid to him by borrowers to be
remitted to the company; interest paid to
him for the same purpose, and rents col
lected by him OF real estate in his care.
The theft of principal and interest he con-
cealed in part by more or less frequent
payments of interests on the loans taken
and in part by most ingenious and con-
sistent series of falsehoods in response to
frequent inquiries by the company, repre-
senting these borrowers as being IN flnan-
cial difficulty and requested to be allowed
to struggle on and pay their debt and save
their property from foreclosure and conf
dent that they could do it with leniency
on the company's cart and promising they
would make payments whenever possible"
SURPRISE AT INDIANAPOLIS.
INDIANAPOLIS, Jan. 24.-Great astonish-
ment was created in this city tonight,
except among a select few who are in the
secret, by the announcement that Jo,eph
A Moore was a defaulter to the extent of
100000
Mr.. Moore was born in Madison, this
state, and is a son of a banker who was
largely interested in the branch OF the old
state bank located at that place. He came
TO IulS Guy dDOut lNtlUS i've years dt-O
and entered the employ of Fletcher &
Sharpe bankers He remained with this
firm several years and married b daughter
OF Mr. Sharp, after which he entered bust
ness on his own account. In 1872 he Sc
cured the general agency of the COnnecti-
cut Mutual Life Insurance company, his
operations being quite extended, covering
all the state and portions of Illinois. He
was also secretary and treasurer OF the
Moore Desk company, and had spent con-
siderable money in fitting up a building
for safe deposit purposes, work which is
now in progress. He was regarded as a
SAFE successful business man and his
financial standing was not questioned by
any one in the city.
lie is prominent member and vestry-
man of st. Paul Episcopal church and his /
personal habits are uneXceptionable. All /
efforts to see him tonight have SO far fail |
ed, personal calls at his Pennsylvania /
street residence and at his farm, a few
miles in the country, not being answered. !
4 prominent banker of this city saw Moore
AZ ate hour this afternoon and the lat
ter informed him that he (MoOre) was in a
serious financial difficulty with the Con-
necticut Mutual The banker inquired
why he did not call upon his friends to
come to his relief, to which Moore replied
that the amount involved was so large he /
would be unable to obtain enough money !
to tide over the difficulty As stated above !
reporters have so far failed to locate Moore !
but it is not thought he has left the city.