Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-10-29
AUDITING THE BOOKS.
The Building Society Inspecting
Doerfinger's Methods.
PECULIAR THINGS DEVELOPED.
A Lady Paying Interest on Borrowed Money
She Did Not Receive.
TRYING TO SAVE COMPANY PROPERTY

An expert accountant is at work on the
books of the Modern Building and Loan
Association, and it is expected he will be
able to make report by next Monday or
Tuesday to show how Theodore Doerhinger
acted with the concern. Already large
number of Irregularities have been found,
but what they represent In cash cannot yet
be ascertained. The Irregularities consist
of unsigned warrants of the association
which have been found, but it is not known
whether they were ever paid or not Sec
retary McCrickart said last evening that
Doerfihger had been known to cash war
rants without signing them, but whether
any of those found are among the number
cannot yet be told.
A woman against whose property the as
sociation has mortgage, duly recorded and
filed, yesterday called at the office and de-
clared that she had never yet received a
cent of the money she borrowed, alleging
that Doerfinger had put her off from time
to time and promised to let her have the
money as soon as she had really necessity
for it. The amount was about 81, 500. and,
Mr.. McCrickart says, the woman had been
paying interest on her mortgage for year,
but said nothing about failure to secure the
loan until Doerfinger had disappeared.
William Woods, one of Doerfinger's
bondsmen, in the suit of the Franklin
School Board against him, and who gave
1900 to the defendant for Dexter Spring Co.
stock, which he never received, WILL it is
said, enter suit against the spring company
to recover his money. 1t is argued that
Doerfinger was the head of the concern and
it is liable for his action in such transac-
tion.
Florence C. Miller yesterday filed bill
in equity against the Dexter Spring Com
pany. Miller states that he is stock
holder in the company to the extent of
$1,000 The company, he asserts, is in
solvent, and is in debt $50, 900, of which
S47, 900 will become due within the next so
days. The President, Theodore Doerfinger,
has appropriated S13,600 to his own use.
To save the property of the company for
creditors, it is asked that anyone be re.
strained from selling the assets, and that
receiver be appointed to take charge of
affairs.
John NJ Thomas also entered a suit
against Theodore Doerfinger yesterday to
recover S420, claimed as the expenses of
bringing horse from Columbus, which
Thomas purchased for Doerfinger.
w. r. Ford, who is President of a local
building and loan association, stated yes
terday that he could not see how the Mod
ern Building and Loan Association could
suffer any loss if the board had exercised
even ordinary vigilance. The bookkeeping
of such concerns was so simple that the
least discrepancy in Treasurer's accounts
must be detected within not more than two
weeks. How he could default with any
considerable amount, unless he deliberately
walked off with all he could lay hands on,
was something that Mr.. Ford could not un-
derstand. Other well-known men connected
with building ana loan concerns coincided
with Mr.. Ford's views.