Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1895-09-04

Was the Trusted Treasurer Of the
Chelsea Wire Fabric Company.
Experts Looking Over the
y Books of the Concern.
indebtedness Much Heavier Than Represented
by the Missing Man

CHELSEA, Mass, Sept. 4.-Alfred w.
lts, son of ex-Mayor Fitz OF this city,
I'd treasurer of the Chelsea Wire Fabric
company, has been missing since Aug. IL.
This fact, as we'll as the action OF the com
pany In closing the factory. has given rise
to grave rumors, and experts are ex-
amining the books Mr.. Fitz has been
treasurer of the Fabric Wire company for
about four years, and had the implicit
confidence of the directors. President
Martin of the company, whilc admitting
that Mr. Fitz had deceived the directors
In his report, denied that the missing
treasurer had taken 100000 as reported.
On Aug. IL Fitz left home, saying to his
wife that he would not be back that even
tng as he expected to go to New York on
q business trip. He also said that he
might go as far as Chicago. His wife
Thought nothing of her husbands de-
parture that evening, as he had frequently
been obliged to make short business trips
for the Wire Fabric Rubber company, OF
which he was treasurer When he had
been gone week without any word from
him, his wife became fearful that some
thing had befalien him. When he left his
home Aug. l2 all he took with him were
two small gripsacks.
Facts Kept Quiet.
The fact Of his disappearance was kept
very quiet by the members OF his family,
and besides them none but the members
of the firm with which he was connected
and his most intimate friends knew any
thing of his disappearance.
After the missing man had not been
heard from for two weeks, his wife i'm
blored the services of his brother, Frank
e. Fitz, associate justice of the Chelsea
bolice court, who Immediately began
vstematic search. But, although the
Brother tried his utmost to locate the alb
sent one, his search was unsuccessful.
He obtained faint chew of his missing
brother In New York, where 1t was said
that man answering his description had
been seen at the New York Central sta
tion In New York on Aug 10. Aside from
this, nothing has been Neard from MIR.
Fitz since be disappeared.
Mr.. Fitz was always considered as a
man well supplied with this worlds goods,
and IL Is not strange that people should
think this way, as he lived in beautiful
residence, and also maintained summer
home in elegant style at Wakefield. But
1t Is said that since Mr.. Fitz left home 1t
has been ascertained from the books of the
Chelsea Wire Fabric Rubber company that
his business affairs were not as straight as
they should be.
Mr.. Fitz has been treasurer of this con-
cern for four years. He is a son-in-law Of
the company's former president, Thomas
Martin, the present president being Will
lam Martin.
JuggIed with Figures.
Last January Mr.. Fitz made his annual
report to the stockholders of the company,
in which he stated that the financial af-
fairs of the concern were In excellent con-
dition, and that the stock was worth to
the stockholders, at that time, 80 cents on
the dollar, and that the indebtedness Of
the company did not exceed 100000
In the middle of July the treasurer again
made a report to the directors 1t was to
the effect that he had reduced the iiabili-
ties to S56,O0O, and the value of the stock
had increased to 10 cents on the dollar.
He said that the business was much inn
proved had nearly doubled in six months,
and thereafter he would not be obliged to
ask the directors for any more financial
aid.
Inc ulrtCtOfS anu StOChuOlutrS WcTt
greatly pleased with this financial show.
ing, but when tho missing treasurer had
been gone for some time and had not ex'
plained his absence to any Of the mem
bers Of the firm, which they thought O
very unusual proceeding, they began te
grow suspicious, and experts were secured
by the company to examine the books
Then It was found that the indebtedness.
Of the firm was in the vicinity of Si50,000
The exact figures are not known, as th'
money has been checked out by the treas
urer, and until vouchers are returned tn,
true status Of affairs will not be learned.
The Wire Fabric Rubber company ha
been established some eight or nine years
and the books, etc., have not been audite'
since then, such entire confidence had tn
members of the firm In their treasurer
Now the company have closed their fac
tory, and 1t will not be opened until tn
. affairs arc Strengthened out.