Los Angeles daily herald., 1889-01-25
TRUSTED OFFICIAL.
He NOodwlnks the Company and
Captures the Doodle.

HARTFORD, Conn, January 24.-Col-
oDel Jacob l.. Green, president of the
Connecticut Mutnal Life Insurance Com
pany, made the following announcement
this evening: SIS has Just been discov-
cred that the financial agent of this COM
pany at Indianapolis. after sixteen We rs'
service, is g defaulter. For the past
week his accounts have been under in
vestgation and defalcation has been
iund. The extreme amount involved is
about S500,000. He has restored to the
company property which may reduce the
actual loss to 100000. The amount of
the loss will not in any degree interfere
with the regular dividends nor affect the
company's solvency."
The agent is Joseph A. Moore, a lead
ing citizen of indianapolis, about As
years old, who has hitherto occupied
high position in that community. He
has been speculating.
The steal consists of three parts, the
principal OF loans paid to him by bor-
rowers to be remitted to the company,
the interest paid to him for the same
purpose, and the rents collected by him
on real estate in his care. The theft of
principal and interest was concealed. in
part, by more or less frequent payments
of interests on loans, taken in part by
the most ingenious and consistent
series of false bonds in response
to frequent inquiries by the company,
representing these borrowers as being in
financial difficulty, anxious to struggle on
and pay their debt and savetheir property
from foreclosure, and confident that they
could do 1t with leniency on the COM
pany's part, and promising that they
would make payments whenever possi-
bic. He continually represented him
self as carefully watching these people
worry through. These thefts began at
financial distress in Indianapolis, and
when the company not only did what it
could to aid borrowers in saving their
property, but was compelled TO take in a
great deal of real estate; and this state
of depression came later in Indianapolis
than elsewhere and continued longer
time so that Moore's statement was en-
tirely consistent with, and apparently a
continuous part OF the previous
history. Many cases in arrear were
actually brought out successfully, thus
apparently further confirming his repre-
sentetions. Mean time he was constantly
remitting for borrowers very large sums
of money in a correct manner. His posi-
ton and reputation and his energy and
ability, all made it apparently impossible
that he could betray so great trust. This
is the only loss through financial cor
respondent the company has ever expert
enced the forty-three years of it's career
INDIANAPOLIS, January 24.-Great
astonishment was created in this city to.
night, except among select few who
were in the secret, by the announcement
that Jos. A. Moore was defaulter to the
extent of $400, 900. He is the son of a
banker at Madison, Ind. He came to
this city twenty-five years ago. In 1872
he secured the general agency of the
Connecticut Mutual Life Company, his
operations being quite extensive,
covering all Of this State and
portion of Illinois. He was also
Secretary and Treasurer of the Moore
Desk Company, and had spent
considerable money in fitting up a build
ing for safe deposit purposes, work on
which is now in progress. He was re-
garded as safe and successful business
man, and his financial standing was not
questioned by any one in the city. He is
a prominent member and vestryman of
st. Paul's Episcopal Church, and his
personal habits were unexceptional. All
efforts to see him tonight have failed.