The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-08-24
LOOKING UP THE SHORTAGE
An Expert Examining The OglethOTpe
Real Estate Co.'s. Books.
Mr.. Williams Thinks It VIII Not Run

/ Mr.. williams Thinks It VIII Not Run
Much over 81, $50, the Amount of
/ Shortage Which Was Admitted by
/ Treasurer Platshek- Platshek Still
In Jail, But His Friends Are Making
! Arrangements to Settle the Matter.
| s. K Platshez who was arrested night
/ before last on a charge of embezlement
Of the funds of the Oglethorpe Real Es-
/ tate Company, which were in his posses
! sion as treasurer, was still in the county
! Jail last night,
The friends of the young man were en-
deavoring yesterday to either reach some
settlement of the matter, or get bail for
him, which was placed at $500, but up
to a late hour last night no conclusion
had been reached.
President Geo. A. Hudson Of the
| company said yesterday that he was sor-
~ to have been compelled to take the ac-.
tion he did with regard to the matter
but in the interests Of the stockholders
| he could not do Otherwise. He said when
| he and Mr.. j. p Williams went to the
| bank and discovered that the shortage
existed, he notified Platshek and waited
all day Tuesday in hope that it would be
made good, in which event he
said no warrant would have
been issued. A settlement Of the matter
he says IS all the company will ask.
AN AUDITING COMMITTEE.
MIR. J. p. Williams, member of the
board of directors of the OglethOrpe Real
Estate Company, said yesterday that an
auditing committee was appointed last
January to look into the accounts of the
company and straighten them out. That
committee neglected to make an investi-
CATION as II ought to have done
The Oglcthorpe Real Estate Com
pany," he said, lowed Mrs. Teynac a
large amount, and has been liquidating
that claim by paying installmenJs on the
capital Stock every two months. Mr..
Platshek as treasurer would call on
various stockholders for their Install
ments and the checks were made payable
to the order Of 5. K. Platshek, treasurer.
Instead of his placing these checks to
the credit Of the company he placed them
to his own credit as treasurer and would
draw against them. Al a meeting of the
directors, held sometime in April or May,
it was found that there should be to the
credit of the company 81 200 to 81 800, and
the board of directors instructed the presi-
dent TO place 81 600 to the credit of Mrs.
Teynac's note. President Hudson signed
the check and directed that it be placed
to the credit of that note. Instead of Mr..
Platshek's using the check for that pur-
pose he retained it in his own possession
and continued to draw against the de-
pOsits placed to the credit of Samuel K.
Platsheh, treasurer"
LOOKING UP THE SHORTAGE
The books of the company were taken
over to the Office of Mr.. j. p.
Williams yesterday, and Mr.. G.
w. Haupt, an expert account
ant, took up the work of strengthening
them out to find just what shortage ex-
lists. He was on the work all day and
had not completed it last night
Mr.. Williams said that Platshek ad-
mitted to the board of directors that there
was a shortage of 81 $50. He says it has
not yet been determined, but he does not
think it will run much over that amount.
He believes that it has all occurred since
April l.
1t is probable that Platshek's friends
will get the matter Strengthened out to-
day, and either settle it with the com
panyor give bond for him.
The Oglethorpe Real Estate Company
is composed of quite a number of promi-
nent Savannah gentlemen, and Platshek
was elected treasurer of the company
only, not secretary. The company owns
about twenty-seveu acres Of valuable real
estate in the southern part of the city,
large part of which is paid for and which
has proven quite a valuable investment.