New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-09-28
DECEIVED THE DIRECTORS.
REAL CULPRIT IN INSURANCE SMASH
TO BE EXPOSED.
ASSISTANT DISTRICT ATTORNEY UNGER
NOT YET READY TO MAKE HIS
NAME PUBLIC.

Interest in the Traders Fire Insurance Company
case centred yesterday in the District Attorneys
Office where Assistant District Attorney Unger
was examining the books of the defunct concern.
At the close Of the day he gave it as his opinion
that the company had been shamefully wrecked by
some one other than the directors There was no
reason TO suppose. he said that any Indictment
would be found against them. but he had no douot
rfat strong prima faCie case would be mace ou'
against the president and the secretary Of the
.ornpary This would he submitted to the OctopeT
Grand Jury which is to he sworn in on Monday
nd indictments. in Mr.. fingers opinion for mlSde-
r'e3nor at least. and perhaps even TOT leIo"E'
would nc more than likely to follow. MI Inger
CONVEYED the impression that another man, whose
.a-,e he would not mention. was even more 10
rIe-ne FOR the wrecking Of the company man ule
president the secretary. but as they signed an"
more 10 the correctness Of the report MADE 10 the
Insurance Department Of the State, they are tech-
rically If not morally. responsible FOR me Ialsts
or their oaths Mr. Unger. however SAln "'f' 'iie
real crprit would he ferreted out. and NOT ne Al
lowed n use the officers whom he had deceived
as a cloak under which to escape the punishment
ne merits
M'MURRAN SEES UNGER
Charles ". McMurran who organized the com
rarv and induced the leading directors TO take
s.,,p and lend the strength Of their names TO the
s.-o,-.,-,-a called on MI I-nger yesterday and
showed him several letters of recommendation from
well known men vouching for MS respe'la"ill'S'
10 assured the Assistant District Attorney uaI VI"
,oasor could exist for presenting his name 10 me
Grand jury because ne had nothing TO do with
,l7e MANAGEMENT Of the concern. having turned al
Thar over 10 Lockwood & Forman on CONTRACT uS
which he WIS to haTe one-third Of all they Hliue
orr If If 4e said he had always felt perfect
confidence IN the MANAGEMENT. and the iali''F o'
-, -,-r,s,,- which he attributes solely 10 big hre
losses had cost him S5.e'o of his own money NC
7Iurran is employed by The Newborn "o'Iu
lie lives in FIiehts,ov Y !. and is credited with
---9l, la
business ventures outside his newspaper "'rK' ne
r,s N have had surprising success in gaming the
confidence Of wealthy men.
-,-t1,;s-, TFaleev. president OF the company
lives and does business in Newark lie mas pos
lively declined discuss the case for Puol'a'loh'
-r,eo5ore Sl1tro The secretary. is out Of the CITY
q, rresen, but has telegraphed TO friends mere Inc
following explanation q his signing OF the Ia'Se
report TO the Insurance Department.
Report was prepared entirely by firm of LG Sad
wood q Fo'il M an l. 5@iness Of Traders Fire In
sole charge 'l '' rr,5rIad an employees and kept
l;rf, 49, MOI a member. audited the accounts OF
The general manaI ,s 3 bod NJ Signature there
after was purely formal ana No rog iI 9" c63necion
y.I+3 The company was nominal. with praetica1lly
10 ,e naTceTr Any charges can he fully met
Stanley Lockwood. Of Lockwood & Forman,
Will have nothing 70 say 70 reporters Ruhey Il.
Forman the other partner says MI LOCKWOOD mao
entire charge Of the underTrlllne' ana Iha' DaNIu
Allison the cashier had entire charge or the DOCK
keening Lockwood therefore says he can thro"
no light on the muddle Allison is dead. his
widow saws her husband was worried TO death by
having to bear the sins Of another man. Just be
fore he died n told her this mans name, and she
saws she is willing d!vulge il to the proper an
.iroritjes Assistant District Attorney Unger says
g.. a ,e-morten statsnenf Of that kind can ne used
onI in assault or suiurdeScases. and is not avail
able this instance
7 u Garrett who bought the stock Of the com
many for - cents the dollar. and now makes
tba charge mat he was deceived as 70 the real
standing Of the concern. said yesterday that he
would do nothing more at present until there were
delelopnneuts from other quarters Some insurance
men think the directors VIII arrange matters with
him arnics bly, They will meet to-day at the Of
fee Of their counsel Stimson Williams, No %
I.berty-st and decide upon what course to pur-
DTPEC-TOR-S STATEMENT