St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-01-25
His Employers, a Nutmeg In
suranee Company, Consid-
cred Him Honest.
It Goes Without Saying That
He Resided in Indian
apolis.
Mrs. Mecki RaWSon Gives an
Account Of Her M iSfit
Marriages.

AAAhlH ohbs SOikhss ~Is-OOls
Jacob Greene, president of the Con-
necticut Mutual Life Insurance COM
pany of this city, has issued circular
informing the policy holders that Jo-
Seph A. Moore, for sixteen years finan-
cial correspondent at indianapolis, is a
defaulter to the amount of about $780,
600, but has restore property which may
reduce the actual loss to S400, 1000, and
that in any event the loss will not affect
the solyency or impair the dividends of
the company, which is very prosperous,
and will pay larger dividend this year
than last, while probably increasing its
already large surplus. The forthcoming
annual report will show solid assets
amounting to S57, 100000. with surplus
of $5,250,000. Mr.. Moore has hitherto
enjoyed the unlimited confidence of the
company. During the past week an in
yestigatiOn of his accounts was made,
REVEALING THE DEFALCATIoN.
This is the only loss through finan-
cial correspondent experienced by the
company during its forty-three years.
existence. In an interview Mr.. Greene
said that Mr.. Moore was leading citi-
zen of Indianapolis, and about fOrty-five
years old. He had been specializing.
The defalcation was of three kinds:
Principal of loans paid by borrowers, to
be re mitted to the company; interest
for the same purpose, and rents Oh real
estate in his charge. He concealed the
thefts of principal by advising and Sc
curing extensions of loans ON account
of alleged financial difficulties of the
borrowers, who were represented as af-
fected by the depression in real estate
values dating from the panic of 1873.
He RENTED interest and small pay
ments of principal from time to time
in accordance with his representations
that the unfortunate borrowers were
struggling to do all they could. The
moneys came out of his own pocket: OR,
rather,
OUT OF HIS STEALINGS.
He devised narrowing tales, and kept
the company infinitely advised of the
progress of individual alleged cases,
and thus prevented foreclosure proceed
ings. Occasionally he would really set
tie up one of these cases, greatly to the
satisfaction of the company, and to the
apparent vindication of his Judgment.
Meanwhile he was constantly remittlng
large sums on genuine investments, in
perfectly correct manner. The rents
taken form but small part of the de-
falcatiOn, and these theftS were easily
concealed by misrepresentation as to
short time verbal leases.
Lost His Stealing in Speculation.
Special to the Globe.
INDIANAPOLIS, Ind, Jan. 24.-Up to
late hour tonight Joseph A. Moore.
the story of whose deralcation is con-
tanned in the statement of President
Greene, of the Connecticut Mutual Lite
Insurance company, telegraphed from
Hartford tonight, had not been found.
Reporters have been unable to gain adj
mission to his residence, and persistent
ringing of the door bell meets with no
response. A prominent banker said to-
night that Moore told him to-day that
he was in trouble with his company,
and when it was suggested that he call
on his friends for assistance, said it was
impossible, as the amount of his'short-
age was too large. The money was lost
in speculation. Moore came here from
Madison, Ind, became clerk in the
banking house of Fletcher d Sharpe,
married a daughter of Nh. Sharpe, and
left the firm in 1873 to take the position
OF financial agent for the insurance
company with which he has ever since
been connected.