The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-01-23
He Resigns Treasurer of the
ScbrOth Packing Company and
Places His Property i'm Trust.
DISCREPANCIES IN ACCOUNTS
BUT No DEFALCATION, AS ALLEGED
BIZ THE NEWSPAPERS.
Vigorous Denial of the Report that
Shortage OF from 100000 to
100000 Exists.

CINCINNATI, Jan. 22.-Sensational re-
ports were published here to-day of an al
legged shortage in the books of Theodore
Braemer, who resigned last Thursday as
secretary and treasurer of the ]. & f.
Schroth Packing Company Of this city.
The story as first published estimated
shortage Of from S100,, 900 to 100000, extend
ing over a period of twenty years. and
claimed that Mr.. Braemer had turned over
all his property and chattels in trust pend
ing an examination of the books by experts.
Braemer denied there was any defalcation,
but admitted that he had turned $1,000 in
personal property over 10 Harlan Cleve-
land, his attorney. and Joseph w. O'Hara,
attorney for the ]. & F. Schroth Company.
While Braemer talked freely about the
case. the SchrOths refused to say anything
and the attorneys also were retcent.
Braemer is forty-fve years of age and
has been with the Schroths twenty-seven
years, most OF the time receiving S25 per
week as bookkeeper and in recent years
twice that much as secretary and treas
urer. The firm did a business of about
million dollars year, which was collected
by Braemer. When John Schroth died. over
a year ago. Lieutenant Governor Carl Nip
pert became the attorney of his heirs, who
-
which finally eliminated in a meeting of
all interested parties last Sunday. at which
Braemer resigned and from which the sem
satiOnal reports of to-day emanated. Lieu
tenant Governor Nippert, attorney for the
heirs of John SchrOth, is engaged with the
Legislature at Columbus while Harlan
Cleveland, attorney for Braemer, and John
w. O'Hara, attorney for the company and
also trustees. are engaged with the experts
in examining the books. The accountants
insist that they cannot complete their work
for two or three weeks and counsel say
that no reliable statement be made
until that time. The books were trans
ferred from the packing house to the Ham
mOnd building in this city to-day for the
convenience or the expert accountants and
the attorneys engaged in the investigation.
No reports OF similar character ever Gre
ated such "A sensation in this city, as Mr..
Braemer always has been regarded as a
man of the highest business and social
standing. lie owns one of the finest resi-
dences In the city and 1t is furnished with
all that art can supply. In all OF the sen
satiOnal reports that have been published
no reference Is made TO him as a fast man
or that he has any bad habits. such as are
usually coupled with such sensations. The
attorneys and other interested persons will
give no assurance that the report of the
experts on the examination OF the books
will be made public when completed, as
they state that every possible difference
has already been adjusted satisfactorily by
the property that Braemer has turned over
in trust All interested persons state that
they expected after the meeting last sun
day. at. which Braemer resigned. all differ
ences would be settled without the matter
ever becoming public.
The Times-Star to-day publishes the fol-
lowing interview with Theodore Braemer:
80 they say l am short 100000. do
they
well. it is not true. They say that
house cost S125 900. IL cost about SIS 600"
HAS anything that you did own been
transferred 10 any one recently"
iii tell you the truth of the whole mat
ter. The old man and l have been fighting
for the past six months. and L concluded
10 quit / was about To say there had been
some errors in the books and some time
ago IL was mutually agreed TO have an
expert TO go over them. Some more err
rOrs were found, and. as a precautionary
measure, and 10 indemnify the company
Harland Cleveland and Joseph O'Hara the
attorneys, were appointed trustees of my
estate. / have turned over TO these gentle
men. purely as a business measure. 100
shares OF Standard Oil Company stock
which are worth about $50 900. and my hold
ings in Cincinnati Gas and Electric stock
amounting 10 about $1,000 That Is all
have turned over 10 them"
When viii the work OF examining the
books be COmDleted2'
''In about two weeks. / should Judge"
If a shortage is found in the books will
solely. because I had charge of the
books l have no desire 10 shift any re-
spOnsibility.'
How long have you been with the
SchrOth Company
about twenty-seven years"
What has ben your salary recently
Fifty dollars week"
How long have you been receiving this
About ten years
How much stock in the company do
''FIfteen thousand dollars"
Then you wish 10 deny again THAI YOU
are short In your accounts2''
II wish TO say emphaticany that if there
Is any shortage / know nothing OF it