The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-02-05
JOSEPH 4. MooRE,s DEFALc4rToy.

JOSEPH A. MOORE's DEFALC4TTOy.
From February Rough Notes.
1t is with great reluctance that we COM
ment upon the startling disclosures that
mark the closing of the business career of
one who has long held appointment position
among business men in indianapolis.
A bold, bad man, unsocial in his habits,
secretive in his methods, and, as the world
goes, generally supposed to be a model bus
mess man. precise in his calculations, ex-
acting from others with whom he came in
business contact, and'persistent in the exc
cution of his plans; a man of good address,
of very few words. yet so convincing that
others were led to credit him with superior
judgment, has for years had charge
of the real estate belonging to the
Connecticut Mutual Life Insurance
Company in Indiana and Ohio. All the
qualities we have mentioned were possessed
by Joseph A. Moore in an eminent degree,
and all were sufficiently apparent except
the badness-that he successfully concealed,
except in some minor points, until very re-
Gently. 1t now appears SO banefuiiy black
as to overshadow all the virtues OF his past
lite and cause unjust suspicion to fail upon
those with whom he has held intimate busl-
ness relations. The defaulter was arrogant
in such a degree that few cared to assume
a subordinate position under hin or even
be associated with him In business, anu ms
~neighbors who have known him for q quar-
ter of a century declare they have never
had time to become acquainted with MIN.
He was an Episcopalian, a prominent mem
Der OF the church, and so consistent, wlthal,
that his church relations added to that re-
spectability he possessed, until recently, IN
such an eminent degree.
He acquired control of the important
trust he has been in charge of for the past
sixteen years upon the Endorsement and
recommendation of bankers and business
men who, at the time. were regarded as
among the best and most responsible citi-
zens Of Indianapolis. This trust consisted
IN the care of real estate ~aggregating sew
eral million dollars in value, its disposal
whenever advantageous sales could be
made, the collection OF interest land de-
the company, and rents on its property
taken on foreclosure.
The amount Of money handled for the
company by MIR. Moore, we have reason to
believe from careful estimate, was about
S12, 1000. 900. Of this sum he stole only the
twenty-fourth part; the rest he regularly
accounted for. 1t was by fulfilling so large
a portion of his duty that he escaped sus-
plciOn as to the rest. 1t was as ii q man
should send out his Office boy with twelve
boy should return with vouchers for
eleven dollars and a half and a plausible
explanation as to the missing voucher for
the remaining fifty cents. No one would at
once jump to the conclusion that the boy
was dishonest. A full understanding of
what Mr.. Moore did properly is necessary
to an understanding of the way in which
his misdOings passed undiscovered.
The small ratio of his stealings to the
funds he handled does not lessen the enOr-
nifty of Mr.. Moore's wickedness, nor the
extent of his defalcation. This is an amount
so large that it would mean ruin to a ON
pany OF small assets. a serious disaster to a
company with only a half-million dollars
surplus, and likely to cause unnecessary
alarm to the members of the Connecticut
Mutual Life if the daily press can only sue
coed IN creating q panic In their minds by
destroying confidence in the integrity N
efficiency of its officers. 1t is a damaging
statement, but, nevertheless, true. that the
unwise disposition manifested by the daily
press, not alone of indianapolis, but else
where, by the distortion of facts that are
true; and the publication of f~alsehoods as
true statements, upon which have been
based alarming conclusions, has wrought
more of mischief, destroyed confidence to d
greater degree, and is likely to cause more
Inconvenience n distress than will ever
result from the disappearance of $500, 600 of
the more than s., 100000 surplus belonging
to the .p~olicy-hOlders of the Connecticut
Mutual Life.
Every newspaper in the land possesses
the perfect right to express any opinion it
Ady uOIu, UO I1dttCI IOW uuItdSOudUlt IL
may be, but when any journal goes outside
the domain of truth, quoting as coming
from the lips of men who never uttered
them, words telling, as in this instance, of
startling. developments yet in store, and
the admission that a half million dollars
had been lost in addition tothe amount first
stated by President Green, that the COM
pany would next day publish this admis-
sion, adding. each succeeding day such in
cendiary and alarming statements and COM
monfS &c ara ronniraA m hlocEan tho char
acters of good n true men, holding re-
sponsible positions, and cause policy-hOld-
ers to lose confidence in one of the strongest
n beSt-managed life Insurance companies
in the world, apparently for sinister mo-
tives, it impressesth minds of fair, prudent
men with such disfav0r that the course of
such journals appears simply infamous.
And every criticism based upon truth is
not only legitimate and helpful, but every
falsehOod uttered in relation to such a seri-
Gus loss as the one here sustained is a
wrong perpetrated against the best inter-
ests of community. Hence the exercise of
cool, dispassionate judgment would sug-
gest the Withholding of criticism until the
public is possessed of sufficient facts to en-
able it to decide accurately the faults, if
any, that may exist in the management of
the company, and their cure.
Regarding the efforts to cast suspicion
upon the Officersof the Connecticut Mutual
Life, we venture the assertion that Joseph
A. Moore would not now be a fugitive
could he by any means whatever produce
sufficient facts to smirch the business in
tegrity of any of the officers of that conn.,
pany, and more especially that of its presi-
dent.
In this connection it may be we'll to review
the cement of the affairs of this COM
pany. There have been paid to the Con-
u~ecticut Mutual, in premiums. by policy
holders, since it began business, in 1886, to
Jan. l.. lSSS-forty-two years, $3.50, 9S7, 751.
What has become of this vast amounts
The account, up to date of last report,
stood as follows:
Paid to policy-holders or beneficial
1928, 777,137.
Assets held in trust for member as
per New York report..--.-.. 56,627,12l.
Balance to creditof members after
paying all expenses of manage
34,416, 500
The percentage of gain to amount re-
ceived is 22.79, which is a record ~unequaled
in the history of the life insurance com
panies of the United States.
For forty-three years this company has
conducted its business with remarkable
success, never before meeting with any
considerable loss on account of lack of in.
tegrity on the part of any employee, econo-
my and good management having wrought
SO marvelously we'll that, counting the