The Providence news. (Providence [R.I.]) 1891-1906, 1902-08-22
SHORTAGE
SOMEWHAT
REDUCED
Deficit Of Treasurer Of Prorl-
dent Home Benefit Co. VIII
Not Reach $4,000.

Careful examination OF the books or the
Provident Home Benefit company reveal
the fact that there is not a deficit or
5000 as stipulated In the legal proceed
tngs
Reoeiver Arthur w. Joyce In his sum-
mary says that while Treasurer MO
Cisase had full charge OF the finances or
the company. no figures OF his own were
made in the books. He simply told the
bookkseper wha TO do and she made
Ali the records which have been sxamin-
THOUSANDS OF CONTRACTS.
According to the books. the number or
contracts sold In Providence and Paw
tucket designated as series A. was Eo.
or these IL had lapsed, leaving noe vaiiu:
Further investigation showed tnat sou
contracts were disposed OF IN Woonsocket
and ciassed as series b. and that IN
Newport there hsd been sale or ss.
making the total number OF contracts Is
sued 2S0e OF these Ss had matured In se-
rfee A. but none had matured In the lists
Of Woonsoclret and Newport.
The books also show That from April IA
to Aug % ths total ossn rsos,p" rasds wess
for that length Of time was S2o,l@os'
leaving a balance Of s4si-B
coMPANY's VISIBLE ASSETS.
The visible assets consist OF 500. depoe-
itsd with the Industrial Trust company
q promtssory note for $500 given by II. b.
Rust and various other checks amounting
10 s1o6 .5S. Payment ON q check for $50
was stopped at the Industrial company
bank yesterday. and some OF the other
checks are Of doubtful value.
The figures were given to MT Joyco Jy
Sy tas sconkeseerb srom sse boSss ASIDE om the
assets thereby shown. which, II may 90
seen. given q total greater than tne sS. sr
oess OF receipts over expenditures. @ @tne
Kc,es sK esnef OF once oce fnrni4uss IN the rooms
Ct the 6tudley building. =, 49,.
Another feature developed IN ne Pre- Pre-
commiseions and Office srpenses.
MONEY NOT ACCOUNTED FOR
Az an instance IN this connection. It Is
said that a man In Newport expended
siy in the purchase Of two contracts.
This transaction is referred TO on the
DoVss q cover as mt the sv agents expenses and i
goes 70 the company. The remaining
Sllb Is not accounted for. ,..
Attorneys Edmund i,,s 8 rppsanntstsres nDps,nst % OF
Mr.. stiles and also Recefver Joyce IN ne
legal proceedings.
William II. Cooper, WHO Wno aoooe'" -.
with Mr. McClease In the managemen'
OF the company. was reported to oe ~ ~
Boston, and II was expected tnat o.
would be back in Providence last even, even,
ing but, so far as is known, ne ddn'
arrive No trace has been found as vel
OF The present whereabouts or Mr. NC.
Clease and the recevership proceeGngf
are about all at present upon which those
who are investigating the company car
work.
OUT OF TOWN OFFICES CLOSED.
The Pawtycks. and woonsockst offices
have been closed.
II is a fact that agents Of the concern
went into Attleboro and among certain
persons exploited the WORKINGS or tns
concern Some of the Attleboro .personl
who had dealings with the concern pu
In s25 each and fthers went N for large'
sums. II is Thought tnat Attleboros In
ferest in the AFFAIR Will reach 1900 o.
1900. II might be larger. The conceri
did not confine its work In Massachysett
20 Attieboro. It's agents went to Nortl
Attleboro and interested persons there II
the 'shome benefit scheme. Tauntol
and Brocktop also helped out financially
despite the fact that Massachusetts lay
prohSbated the carrying on Of the busines
within Its borders.