Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1896-01-03

ber of the state senate from the sixth senate
rial district. His chief work during his term
OF office was his part in securing the passage
of the measure which created the present
state board OF health. In 1884 Dartmouth
College at its June commencement conferred
on him the degree A. NJ.
In the summer of 1885. the New Hampshire
Legislature entirely recast the insurance
laws OF the state, and after q prolonged
struggle enacted the valued policy law"
70 meet the condition of affairs thus pre-
sented, New Hampshire capitalists speedily
undertook the formation Of local insurance
companies. and DR., Moore, seeing in this an
opportunity for the exercise of his financial
ability which had 50 long lain dormant, and
for the profitable nve, tment of the millions
of money which he and the New Hampshire
Club represented. secured a charter for the
Peoples Fire Insurance Company, which
met so diastrou an end in tho summer OF
1928
TO the presidency OF this company, DR.
Moore secured his own election and Charles
+. Morrill, hecamc treasurer. This. it is be-
,iaved. was Moore first business connection
with Morrill, and the partnership then struck
was destined to be one of the most remark
able in New Hampshires financial history.
involving. before il was ended, the wreoking
ot three great financial institutions and car
rying to the people OF Manchester direct
money loss Of more than 81 0O0, 900.
Accordingl in 1889. the Legislature was
induced to grant Il charter for the Merrimack
Mortgage & Debenture Company, and the
charter as it was originally granted by the
Legislature was vetoed by Gov. Goodell. 1t
was afterward amended, however, and re-
ceived the executive approval.
Under this charter business was begun and
continued for nearly three years, when the
name of the corporation was changed to
narryneld Savings Bank and Charles +. Nor
rii was chosen treasurer. The MerrimaCk
Mortgage Il Debenture Company was always
Il little of color. and it now appears that it
was during the short life of that institution
that DR.. Moore tirst resorted to questionable
means for securing the funds he so much
needed
The panic Oi 1898 was little felt in New
Hampshire outside Of the Queen City of Man
chester. and the actual crash which occurred
among the banking institutions of that city
WAS preceded ny weeks Of undelined rumOr
in which the affairs of the Derryteid Savings
Bank and the National Bank of the Common
wealth were prominent.
The legal aspect Of the case next called for
consideration, and Bank Examiner D1rr o.
New Hampshire called upon the comptroller
for aSSiS, RnCe in untdngllng the Common
weath's affairs. Bank Examiner Gatchell
of Massachusetts was accordingly dispatched
to Manchester. and the two examiners. to-
gether with Dist Atty R3mich, took poses
sion of the COmmonwealth's books, and
made IN exhaustive examination. which re-
suited. in January. 1894. in the indictment of
both Mo re and Morrill, for abstraction, en-
heZzlement and misuse of money. tho sub
stitutiOn of FUNDS and credits, and the gen
eral manipulation OF the bank 5 assets.
In the meantime, the trustees OF the Derry
Held Savings Bank. after several stormy