New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-26
BTTLDTNG SOCIETY IN TROUBLE.
A DEFICIT OF ABOUT $4,000 DISCOVERED FUN
WHICH THE OTHER OFFICERS HOLD The
SECRETARY RESPONSIBLE.

The Home Mutual Building and Loan Association
of the Borough of The Bronx is In troup'e que 10
n recently discovered shortage OF between '-''v''
and $1,000 A receiver for the association may De
appointed. At present State examiner McNits 'e
&c engaged in going over the books. The associa-
,i u,os orean,zed in 1855 Its officers are: George
Bell president =. J. Cuddy Vice-pres'ue",
Ceoree W Harris. secretary. and II. l.. Schooi.
,roosnrer II the association fails the loss VIII
fau principally on workmen domestic servants anu
other persons Of small means living In Inc Bronx
c.onrqe c Rell president of the association was
- y, his homo No 1 2O4 Boston Road. yester-
a.. oS1 eaid. THE facts OF the case are Simply
tbeso There is an amount due to members OF tiie
association Of about $4,000 The assets are aoou'
5000 i'm CASH and four months ho'e ioi Fv 49,,
given by George W. Harris. the secretary iii's
note is nartiay secured by two mortgages given by
Mrs Harris on two pieces of property Vaiueo at
hort SO 200 Mrs Harris gave these to help her
husband We think that Harris has been Negligent
and that this trouble with the society mus TIC
at his door our treasurer, II. L. School had CON
ndence In Harris. and let matters take care Vi
themselves" 49,, a..
according 10 the minutes OF the association the
secretary was authorized TO satisfy mortgages ana
money thus paid is anaccounrea aubor,1ed by the
association to satisfy mortgages. and ne says Una.
II any such statement appears on the minutes '"e'
heE 0ur Pe eXpenses have been light, and could not.
,oeeihlv amount to anything like the shortage
Pc onyinued "a report OF the affairs OF the as
sociation has been made every year. and the audit
orr Of the association Lave gone over the BOOKS OF
have been supposed to have done so. The Bank
Examiner has also audited the accounts every
yrar DESPITE this fact, 1t Is my opinion that ms
Thing has been going on for five years.
Suspicion was first aroused by the fact that IN
cases OF Withdrawals some members were PAID out
of their regular An investigation followed. ana
y ! Cufdy our vIce-president, discovered that
there was something wrong We have had Implicit
confidence in Mr. Harris. though we thought him
visionary and poor business man
The Urea urer. H. J.. School, said: This shortage
was discovered about month ago | myself am
one of the largest shareholders The missing funds
have not passed through my hands. No one but the
secretary handled them According TO the bylaws
of the association the secretary receives all money
and turns II over 10 the treasurer. The treasurer
pays out money only on voucher ana check, signed
iy the president and secretary. While the treasurer
Is called So he is really only financial aeent. and
Is responsible only for money received by him..
George W. Harris has Office at No. 80 Nassau
st and lives al No 1881 Franklin-ave He is mar
ried and has two daughters. He could not be found
yesterday. but Is reported to have said that the
statements about him were prepos erous and that
he will he able to clear them up In time