The Providence news. (Providence [R.I.]) 1891-1906, 1898-12-17
The FINK FAILURE.
Matter Before Judge Rogers in the
Appellate Division.
Opposition Made 10 the Discharge Of Firm
Members From InsoIyencI

There was long hearing before
Judge Rogers in the Appellate Court
this forenoon on the application of
David c. and Henry s. Fink, jewellers,
for a discharge i'm insolvency. John
Henshaw appeared in opposition TO the
granting OF the discharge. he repre-
senting Oscar Farnum.
walter Nj. DAILY, the assignee of the
firm, testified that of 500 worth OF un-
paid accounts he had been able TO coll
lect but about $22. one Of the largest
or these accounts was a note against
"A man who is now i'm South America
and has not expressed any intention OF
Immediately returning to this state.
Mr.. DAILY admitted that very soon after
the failure of the Finks the stock and
fixtures in the store were removed by
man named Smith, who had "A mort
gage on them.
David G. Fink testified that he raised
$4,000 on mortgage given originally TO
II. r. Vaughn and transferred TO Geo.
j. Smith. The money was raised to
pay off small creditors, among whom
were the Union Trust company The
creditors had given him an extension,
during which the money was raised
Mr. Fink said he had told Oscar Far
mum, from whom he got some dia-
monds. that there We're two good insur-
ance policies that he would hold as
security for him. Both these policies
he was forced to let go, owing to the
failure of his business, TO realize the
profits he expected.
Mr.. Henshaw pressed Mr.. Fink close
ly with questions in regard TO the
mortgage claiming it was really given
as preference TO the Union Trust
Company. a creditor. Mr. Fink stuck
to his assertions that IL was given TO
raise money TO pay small creditors and
that the money raised I'm that way was
so used. Witness denied that his broth
er had invested heavily in a stock
company but admitted that the stock
and fixtures in his store which Had been
inventoried at $4,000 or $4,000 had been
bid in by the mortgagee for $1,000 Mr..
Fink said he could not help the sale of
the stock at so small a figure.
Oscar Farnum testified that Mr.. Fink
made false representation to him. Mr..
Barney objected as he said the repre-
sentation under the statute must be in
writing. Mr.. Henshaw said Mr.. Far
mum said he told Mr.. David G.. Fink
IL he was entitled in any trouble to turn
the diamonds over to Mr.. Henshaw.
Mr.. Fink told him he had ample Sc
curity but would not tell him what il
was. This statement was repeated often
even as late as March of the present
year and was surprised when a mort
gage on the property became public. Mr..
ID. G.. Fink had several times Mr.. Far
mum said pledged his word of honor
that he had securities for the payment
OF any debt owing To him. Farnum. Once
Mr.. Farnum said Mr., Fink told him
that his wife had $1,000 in loan as
sociation.
Mr.. Fink was asked by Judge Rog-
eys as to certain insurance policies. One
% these he said was from the New
York Life Insurance Company and he
had borrowed all he could on IL. some
1920 and surrendered il TO the company.
The other policy was on the life Of his
wife. but had lapsed owing 10 the non
payment OF premiums.
Judge Rogers granted the discharge.
Walter IL. Barney was attorney for the
Finks. .+...4-