New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-01-25
NEARLY HALF A MILLION GONE.
CONNECTICUT MUTUAL LIFE INSURANCE
COMPANY A LOSER
TRUSTED AGENT IN INDIANAPOLIS, AFTER
MANY YHAfsloF SERVICE. PROVES TO
Bn3A DEFAULTER.
laT fEIEoRAFH 10 THE ThiBUNE.I )

Insurance Company came TO Indianapolis with IN
structons from President Greene to max
careful examination Of the &C
counts of Joseph A. Moore, the principal finHn
cial correspondent Of the company in the West
For sixteen years Moore has had charge OF I'M
Connecticut Mutual's investments In Indiana
which amounted in the aggregate to more thai
81. 900, 900, and so successful was ne in the man
sgement Of the affairs that he wa'
given control Of the financial inter
ests of the company in neighoorint
States. President Greene and the directors OF TN
company had absolute confidence IN his integrity
and his judgment. In the days OF real estate eN
citement, when money came easily and was II
great demand at high rate of interest the Oon
necticut Mutual made many loans in lndlsnspons
and when the panic of 1873 struck the inretee
city, the depreciation in values left upon the nand
of the Company much property upon which IL wa'
necessary to foreelose mortgages
1t was about that time that Moore was EN-
ployed as the companys agent lit
stood high in Indiana polls, was related by msrragt
TO one of the wealthiest families and was resE'ied
as a man of extraordinary business ah'ht1 he
took hold of the company's affairs in waf that
convinced the general officers that he vas a
valuable man. lie did not dispose of the pr'perty
as rapidly as they desired TO rid themselvesof IT.
but he was always ready with plausible sn' con-
vincing reasons for tho delay when
he was questioned about the matter. Occasionally
he disposed Of property on satisfactory term ana
msde IL appear 20 tho company that his judment
had been vindicsted. Unsuspectingly the al
lowed him 10 have his own way. and so thebusi-
ness has been carried along for sixteen years
In the meantime he. accumulated propert nap
idly, and has been recognized one Of the walth-
lest men of Indianapolis lie owned several locks.
or at ast they were known 10 the public as Moore
blocks; he was the proprietor Of Moorei desk
factory, and a large herd of fine live stoG. to-
gether with beautiful rural home xnon as
" Tanglewood," were the property OF Moore. When
General Harrison was suffering last summerfrom
overwork and o place for rest near the cir was
sought for him, it was Moore's country villl that
was chosen, and the hospitality of Mr.. Moor'was
accepted for few nights by the candidat for
President. Besides the possessions referre' to-
Moore owned several additions to the city. vs.
proprietor Of safety deposit company andwas
at the head OF various syndicates OF capitasts
Finally the narrowing tales and the stories ode
ferred payment Of loans and interest were dcbt-
fully received By the officers of the insurance
pany. The accounts Of Moores rapidly increang
wealth excited suspicion, and caused the visi b
indianapolis unheralded Of the two aceountntS,
who came last week 20 look into the bOossin
which the company was much concerned. IS
crepancieS and irregularities were soon diseogeh,
and when the investigation was finished " US
found that Moore was a dcfaulter IN the uWounts
$500, 600
When confronted with a statement OF his shor
age, he confessed his guilt and offered 10 mai
good as much Of the amount as possible.
inventory Of his possessions was made, shown
that at fair estimate he held property value
at 100000. He was willing to turn IL a
over, and this was done. lie WIS told that tn
embezzlement could not he kept from the put
lie and he has been aware since Monday tha
exposure was imminent Tie knew this morninl
that Il would come tonight, and TALKED will
one of his friends, banker, about bi
trouble.
II you are in trouble remarked the banker
why don't you call upon some OF us 10 help yoJ
out?s
The amount is 700 large" WAS the answer, anc
no more definite information regarding the amount
Of the shortage was given. When the banker
learned tonight that the defalcaton was To-
$500, 900 he was astounded and could not lima gn'
what had been done with all the money.
Why. it's as bad as bank failure exclaimed
the astounded banker
Moore has not been known as specu
lator in stocks or margins. He always IA
as known. put his money into something substan
tial During the last year he bought much Indi
annapolis real estate, believing that the discover,
Of natural gas and indications OF increasing pros
perity would bring large profits on the invest
ments lie has met his obligations here promptly
and 10 is stated owned nothing in this citE. To
friend he explained to-day that his shortage wa
caused by having been compelled TO carEy th'
obligations Of Ingraham Fletcher the senior mem
her OF the old banking firm OF Fletcher g. Sharp
which made an assignment about four years ago
He came 10 indianapolis when young man TO en-
ter the employ Of the firm bookIzeepcr. anc
after working for several years in that capacity
married the dnuehter Of Mr.. Sharp. the junior
partner II was through this association that ht
became involved in F7etcher's interest.