Bridgeton pioneer. (Bridgeton, N.J.) 1884-1919, 1903-06-04
HOWELL MAKES
FULL STATEMENT.


at the Sheriff's office on Tuesday for
the purpose of interviewing Mr.. R.
l.. Howell. He advised the Sheriff
that perhaps Mr.. Howell could talk
more freely on the unfortunate events
connected with the collapse yof the
Millville Stock Building Association,
If he was permitted to meet the re-
porter in the Sheriff's private office.
Sheriff Diament readily consented to
this and placed both Mr.. Howell and
your representative in comfortable
| chairs in the front Office. Mr. Howell
met your reporter cordially and ap-
peared to be anxious to talk. His ap.
pearance was that of a man under
great mental strain. He felt most
keenly the humility and censure.
Several times during the interview he
lost control of his feelings entirsly
and wept like child Bent down
with his SO years, it could be seen
that his heretofore rugged constitution
had been seriously attacked.
On being asked if he had any objec.
| tlon to answering few questions, he
replied that he would be glad to do
so. He said that at first he felt rather
indisposed to do this, feeling that the
best course would be to simply say
nothing, but to accept the full conse-
ouences OF his errors. But on further
consideration he felt that it would be
cowardly and that he owed a duty to
| his associates in the association " no
had out of their confidence in him
been too careless in maintaining as
strict an oversight as they should
have done. They had always been
his staunch friends and to leave them
now under an unmerited blame would
! be dishonorabIe and cowardly. He
was then asked how it was possible
for such conditions of the association
to have existed so long without de-
| lection. Mr.. Howell said that the
] trouble ran back some Is years and
that the history is only a repetition
OF the old story of trusted officer
finding himself in the control of funds
of others and business demands press
ing him, believing at the same time
that he would shortly be able to re-
turn the same, makes what he de-
ceives himself into believing is
loan. Then the business does not sue
ceed as he anticipated and more funds
are taken to insure it's success. This
course once entered on it at once be-
comes an easy descent until the in
evltable end is reached. He was then
asked if the term speculation used in
some newspaper reports referred to
the purchase of stocks on a margin /?
His answer to this was emphatic,
stating that he had never invested
dollar in anything of that kind. All
went into the development of Mill
vile enterprises which had not the
success expected. Asked as to the
amount used in this way, he said the
actual cash used would certainly not
exceed $15, 900. When asked why the
deficiency was so much greater than
this amount, he replied that to keep
off suspicion and investigation it was
necessary to keep up the usual divi-
dends. In this way the sto';k holders
were for years receiving large amounts $
as dividends that were really not
earned. He said: During all this
time the anguish of mind at seeing
himself steadily approaching preci-
pice of ruin, and the constant fear of
exposure, he does not care to dwell
on, as he has no wish to excite SYM
pathy by whining to no purpose"
He was then questioned as to his
final leaving. He said that he was
thunderstruck with the exposures
which had at last come, and being
panic-s stricken, decided to leave
temporarily. This he now sees was a
mistake, but he simply could not face
the anathemas of the public which
had always looked to him as the syno-
nym of traightforwardness
The decision to do this was rendered
imperative by the threatened blind
ness Of his left eye, which unless it
was promptly attended to would at
once render him totally blind. Hav-
ing come to this decision he made ar
rangements to collect the arrears of
salary and expense for three months
from his position as Supervising En-
gineer of the Oyster Commission and
the balance due from his previous
months shipment of sand &. He then
drew up Deed of Trust to the Direc-
tors of his sand banks practically all
his property believing them Gas he
does yeti worth at least $50. 0o0-a
sum equal to twice the actual amount
for which he had failed to account.
At this point he was asked, "Mr.