The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-08-11
AN ALLIANCE SENSATION.
a TaUSTBD AGENT FOUND TO BE
$4,000 SHORT.

u
the Cause of the Defalcatlon-Busi-
ness Agent Wynn is the Party Ac-
cussd-Other Officials Charged With
Crookeduess - The Real status of
Affairs Not Developed.
ATLANTA, Ga. Aug. 1O.-There was
sensation in alliance circles here to-day. A
trusted agent is found to be about 500. 600
short. Speculation in Atlanta real estate is
the cause. Other officials are also charged
with crOokedness.
j. o. Wynn. the business agent of the
alliance exchange, Is the man whose ac-
counts are found to be short. Mr.. Wynn
was made business agent when the exchange
wes organized. At the last meeting of the
board Of directors it was decided that as
the exchange did not reach large business
there should be standing committee to in
vestigate the books.
A COMMITTEE INVESTIGATES.
Col. W. A. Broughton, director OF the
exchange, and treasurer Of the state ali-
ance, was appointed to do this work
When he logan the examination of the
books week ago he had no idea that there
was shortage. After much labor he came
to the conclusion that about $50, 900 had
been used by Mr.. Wynn. The matter was
reported TO Col. w. L. Peek, and immedl-
ately Ar. Wynn resigned his position.
Col. Broughton, who examined the books,
has been appointed business agent. Mr.
Wynn virtually admits that he used the
funds of the exchange in private business,
but says that his books will show that he
has not acted dishonesty. 1t seems that
the exchange had money on hand
and Mr.. Wynn simply used it.
Col. Broughton is quartered in the Ex-
change business office, and looks as If he
had won great victory. He says that the
books OF the exchange show that it owes
Mr.. Wynn about 5000. whereas the in
vestigation shows Mr.. Wynn to be the
debtor $4,000.
MR.. wYNN's METHODS. --
Col. Broughton explains the shortage in
this way: Mr.. Wynn would buy bill of
goods and give his individual note for the
amount of the bill, and when the bill of
lading came he marked it paid and
took the said amount of money to
Wynn does not deny, and 1t is probably the
true statement OF the case Mr.. Wynn
simply took advantage of his position to
use his name for these sums of money He
bought the goods on thirty. sixty or ninety
days, as the case may be, and represented
the sales on the books as a cash transaction.
This has been going on for some time.
When these facts were made known, Mr.
Wynn went to his bondsmsn and turned
over to them real estate to cover the short.
ages
I HIS REAL ESTATE DEALINGS.
| Since coming to Atlanta his real estat
transactions, which be carried on with tn
exchange money, have been quite SUCCESS
full, and he now owns several valuable city
| lot8 and residences.
When Mr.. Wynn was appointed he gave
bond in the gum of $50, 900, as follows: w
l. Zacnry, SIC, 1000; Fidelity and Casualt
! COMPANY Of New York, $1,000 w. II.
Holcombe, s.. 900; J. e. Maddox, s., 900; NJ.
| Taylor. 81 goo: J. A. Wynn, 81, 900; 2. L.
Riley, $1,000; J. r. Merchant, l.000;J. NJ
Ponder. $1,000; J. B. Zachary, 81 900, w.
! W. Lanoden, 81, 900. The others were In
small amounts The bondsmen met this
afternoon in the office Of Glenn & Maddox,
their attorneys, and found that they will
lose nothing. Mr. Wynn's assets are all
right.
The bondsmen are trying to get the ex-
| change TO agree on some good accountant
| to examine the BOOKS and ascertain Just
what the shortage is. Mr.. Wynn says he
does not know the amount, but he is sure 1t
| will be greatly reduced from $4,000.
| NIX. Gl4ENNS STATE
Hon. w. c. Glenn had this to say: $50
| far as the bondsmen are concerned, there
hiss been no statement given to them chow
| ing the dates and amounts of the shortage
| They are not at present in a position TO
| state what the real status is. They have
| asked for such a detailed statement and
have asked for thorough examination of
| the books. so far as Mr. Wynn is con-
cerned, he acted honorably with them and
surrendered al he has, and they will not
suffer any loss" The bondsmen aud Mr..
| Wynn have come to a perfect understand
| ing, SO much SO that Glenn & Maddox will
act as attorneys for Mr.. Wynn as well as
| for the bondsmen.
SOME COUNTER CHARGES.
It is said that Mr.. Wynn, in retaliation,
makes some charges against both Col. Peek
and Col Broughton. He is credited with a
| statement something like this: "CoL Peek
and Col Broughton are as guilty as | am;
| indeed, they set the example for me. One
| rule of the exchange is that cash should be
paid for every purchase, and every sale
| shall be for cash. The regulations admit of
no credit business either way. At different
| times both Col Peek and Col. Broughton
have owed the exchange quite large sums OF
! money. They took advantage of their official
| positions TO do this, and, being superior Ia
| me in position, | could not help myself
! Mr.. Wynn would not be interviewed, but
| this comes from good authority IL seems
hard for the alliance to keep straight.
Tomorrow a careful investigation will
| be commenced, and soon an authentic
report will be made.