New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-07
BEYOND THE SlERRAS.
COLLAPSE OF AN INSURANCE COMPANY -
THE MONEY OF POOR VETERANS STOLEN
-COLLEGES AND THEATRES.
Inv, TELEGRAPH TO THE TRIBUNE.

IHr TrLEGRAPH TO THE TRtbONhI
San Francisco. May G.-The disastrous coi'apso
Of the State Investment Insurance Company mas en-
cited much comment among business men as IL i,
veals rcckessncss in fnanccrins such as haS S''-
dom ham se,u in this city. The foilurc Lad been
pected for some months. but no one fancied '"'D
il would he so complete. Tho capital stock OF
SAoo. 900 has been wiped out. and the assets
amount 10 20 little that creditors will not ieailze
mora than ton cents on the dollar. The president
IL George L. prandcr. the same man VINO was
prac.ical manager Of the Nevada Rank seVer years
a~o and permitted two brokers to lhVoNc t'ic
hank in wheat specuations that ultimately i'u
70 the loss NJ several millions and the grave peril
OF the bank As president of the insurance com
many he ,ricl 70 get an Eastern and then foreign
syndicate 10 buy o controlling interest in the com
many hut failed. lie was loaded with stock whlch
no had secured with borrowed money to form TINS
pool A decline in the price Of the stock foi-
lowed. and when he was pressed for the payment
Of loans the crash came Branaer asserts that
the company can vet pull through but this is not
the opnon Of the mercantile community.
Colonel Royce. who emhez7led large amount
OF the funds of the California Veterans HON"
Association. is now under arrest. Royce went
through a farcical attempt at suicide, ana lor
more than week he was declared 10 Ne III
a critical condition and likely TO die at any
moment. Now il is known that his suffering was
exaggerated to excite sympathy, and 'hat ms
wounds were trfng. The defalcation is an
aggravated case Of dishonesty. as Royce stole the
small amounts deposited by old soldiers for spend
ing money.
Another cmbezzlement that promises to
create sensation is that OF Cashicr fiooo'
of the Bank of Donohue. Kelly & CO. This man
~. 10 AT
with the money When this mystery is revealed
some San Francisco regulations will suffer. Both
cases have excited much comment. and the moral
has been drawn that neither woald have occurred
were defalcations punished as promptly and Sc
verely in the civil as they in the Federal
courts The Government loses very little through
Enforcement because it spares no expense 10
run down and punish any dishonest official
Several of the claimants to the 100000 es-
TATE of old Thomas Blythe have not lost heart
but are again in court endeavoIing to upset the
decision which gave the entire estate TO Florence,
the old millionaires natural daughter. The
pypsy Plythes have made out a strong case tins
week One of their effective points was TO show
the striking resemblance between Florence, the
heircss and young sister who is acknowledged
20 he the daughter Of an English workingman
named Ashcroft. The gypsy Bythes contend
that Ashcroft was the father Of both girls, and
that old Blythe was made to believe Florence
was his daughter for purely mercenary reasons
Burke Holiday has been engaged nearly the
whole week in making his argument in the case.
The Regents of the State University recently
decided TO request the resignation Of Ue9rgc
Woodbury. BuRnell, professor of Greek ms
action was based on the charges OF lncompetency
and discourtesy 20 Assistant Professor Flagg.
Professor Bunnell's friends among the alumni are
now laboring 10 have this action reconsldered
Punnell is Harvard man, and his friends assert
that il he were incompetent the authorities ought
10 have discovered IL before this, as he has
served as head OF the Greek department for
twenty years.
College buildings which will cost S500,0C0 are
20 be erected by the trustees of the Pacific Theo-
logical Seminary of the Congregational Church at
Mountain View back Of Oakland. ON the site now
will accommodate $50 students. The buildings
will be- of stone and will include two dormitorles,
library, chapel and gymnasium. All Ionsrega-
tIonalists on the Coast deeply interested IN
this new college.
Richard Mansfield scored hit at the Baldwin
II : week with his strong but sombre production
Of The Scarlet Letter" The critics praised his
Arthur Dymmesdale even beyond their won't
There il little except variety at the other houses
The outlook for the summer IL bad, and both the
Baldwin and the California will be closed for six
weeks
The Pacific Kennel Club held its third bench
chow this week with great success. The display
q docs was larger than ever before ana the
quality was acknowledged to he the best ever
Shown west Of Chicago. The Judging done
by Rsper, the famous English expert.
The death of Robert w. Hamilton this week
removed pioneer and one of the best known of
a. Hamilton is one Of the Oldest in the State,
and il is known all over the Coast. His estate
is estimated at 81 100000