Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1889-01-25
A SOLID COMPANY.
1t Stands $500. 900 Embezztement with
out whimper-E Elaborate swindiing
System Of a Trusted Agent.

1t Stands a 100000 Embezziement with
out whimper-E Elaborate swindIing
System OF Trusted Agent.
HARTFoRD, Jan. 24-Col Jacob /. Green,
president Of the Connecticut Mutual Life
Insurance company, Of this city. has issued
a circular informing the policy holders that
Joseph A. Moore, for sixteen years financial
correspondent Of the company at Indian
apolis, is a defaulter to the amount Of about
S5Oo,O0O, but has restored property which
may reduce the actual loss 70 500 OOO, and
that in any event the loss viii not affect the
solvency or impair the dividends Of the com
pany, which is very prosperous, and win pay
a larger dividend this year than last, while
probably increasing its already large surplus
The forthcoming annual report win show
solid assets amounting 70 S57 O0J,O 900, with a
surplus Of about s., 10000
Mr. Moore has hitherto enjoyed the un-
limited confidence Of the company. During
the past week an investigation Of his accounts
was made, revealing the defalcation. This
is the only loss through a financial CORE
spondent experienced by the company during
its forty-three years existence.
Ia an interview, Mr.. Greene said that
Moore was a leading citizen Of Indianapolis
about A. years old. lie had been specializing
The defalcaton was OF three kmds-principal
OF loans paid by borrowers 70 be remitted to
the company; interest for the same purpose,
and rents on real estate in his charge He
concealed the thefts Of principal by advising
and securing extensions OF loans on account
Of alleged financial difficulties OF the borrow
ers, VINO were represented as affected by the
depression in real estate values dating from
the panic Of 1873. He remittad interest and
small payments of principal from time TO
1 time, in accordance with his representations
that the unfortunate borrowers were srrug-
| Cling to do all they could. These moneys
came out OF his own pockets, or rather out
OF his stealiHgs lie devised narrowing tales,
and kept the company infinitely advised OF
the progress of individual alleged cases, and
thus prevented foreclosure proceedings Oc-
casionally he would really settle up one OF
these cases, greatly to the satisfaction Of the
company, and to the apparent vindication Of
his Judgment. Meanwhile he was constantly
remitting large sums on genuine invest
ments in perfectly correct manner. The
rents taken form but small part Of the de-
falcation, an these thefts were easily con
cealed by Misrepresentation as to short time
verbal leases.
INDIANAPOLIS, Jan. 25-Joseph "A. Moore
the story OF whose defalcation is contained in
the statement Of President Greene, Of the
Connecticut Mutual Life Insurance company
telegraphed from Hartford, can not be found
Reporters have been unable 20 gain admis
sion to his residence, and persistent ringing
OF the door bell meets with no response.
prominent banker said that Moore told him
that he was in trouble with his company, anc
when it was suggested that he call on hi
friends for assistance, said it was impossible
as the amount Of his shortage was too large
The money was lost in speculation. Moor
came here from Madison, Ind, became a clerl
in the banking house Of Fletcher g. Sharpe
married daughter Of Mr.. Sharpe, and lef
the firm ia 1873 to take the position Of iinan
cal agent Tor the insurance company witt
which he has ever since been connected.