New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-26
CHURCH Man ARRESTED
IN alleged E1EBEZZLER.
CHARGED ,riiH Hariag Taken $780,
ooo fran .fmerioqu .SUety 20
rrr -EJeHarH 20 -rE rHIHr7'r.l

rrv ~r-y.eaApH ro IRE rRIHr1'E-l
rso-ton Fer. -5.-Chare%' WIN e-i-.e el.-..
,,,,7s n money ln the neigh ocrho"o O. sAS'V
wallace s. Ham. resident manager Cd '.'-
A-,a-scr-7 surety Company With onces i4 ''g
-. r7,s-4f,r 10 - stata-st- treasurer OF
= T..,.,- t-..--a for Couralcsceu-s. treasurer
of 81 Faurs Church and proH-Is'ut ID me So
60. o. fhie c.t-. was arre7-ed to-day ana
Hooked NJ. ~ Police Headquarters. Air. nam
,ook the matte calmly. and al h"ugh express
s,v .-,~-rfse when inspector GadGs and OaP'ai"
yougar taoK him into custody. be disIis'e1 h'
emotion. 80.
r7.c,,,,s ne VAS REGARDED "a a man o; the
b,gbest integrity and honor. his business as
gociates were amazed az the chaltEes against
btr, How, Tar ne has taupered 'F-ih me &C
,o,,,.. 90 s. Tuke's Home and 81 faul
s7,,vc, is NOT known. although auditors ana
t,snac-orv have been at work on ne p"ohs I"I
tb. last week officers froru the New oTA OF
Aces after they had completed thelr an'esllEa-
fiors reported 20 she executive c"fhi'1'''7' o''0
Hams arrest was ordered
Although irregularities Were detected some
ST.. sqo rot the slightest suspicion rested
-, Ham re had been manager of the company
80 she last SIX wears with salary or N'''"'.
r7a Vas formerly a bookkeeger IN the hoslo'
Insurance Company. The resident directors Oh
she American Surety Company are Freslue"'
Ftea-ris OF the National Shawmut Bank Fresi-
AI7riCl- ~ the state -Ns-Nlol-e-A i''i--'
y,hi,eas Pierce c. D. BurraEe and Ransom Is.
Fuller. all OF whom are leading hnanclers
A. manager OF the Boston branch OF the
American surety Company. Ham has been IN
ttr7srneutaI in sending many persons 10 prison
He is well known ID the courts, where he mas
prosecuted cashiers ane trusted employees VINO
got bones from the company Ham represented
and aftervaTd got into trouble. lie was Always
,fnrelenting. and any one who was olshonest
rrchT
court.
r,s,rr X Woods. senior warden OF St Paul's
Church now in charge az its finances refused
70 talk about Ham. The arrest did not seem 10
sunrise him. and Il appears that he fe-t mar
something was wrong for some time From an
Dth,r source il was learned that the finances OF
the church were being rigidly investigates.
4 personal friend OF Ham said;
Fy,e habits were good and he has charming
.uyfe who greatly helps hirn IN the raanae eileit
OF his affairs. She Is charming anu l-----t
woman. she owns farm which she manages
last wear OF nearly 81 600. He was interested
tn investments and ] am told has been success
ful Ia his financial operations IN the last year
or so. his only speculation 10 my kioN.e-s
was n AnalgaTrated Copper, IN when ne
placed hif money on the ADVICE o. fanny rec
Tion OF one Of the directors OF the A1nalgaTnatea
Copper Company.
Henry D. Lyman president OF the American
gard TO the reported defalcation IN the Boston
Office. made the following statement:
Wallace II Ham. treasurer OF ST. PauIs
Church. treasurer OF St. Luke's Home for Con
NalesCeuts and manager OF the American Surety
Con1panv al Boston, Mass is a defauter IL
about the net sum OF $4,000 divided between
abe home and the surety company In such
amounts as only a Joint examination may here
after determine. Dn ascerta!ning the facts to-
day IN full the executive committee Of the
American Surety Company ordered the arrest OF
the culprit. and appropriated out OF It's surplus
and undivided profit account OF 50 O4S 600 sufii-
Client 10 defray its proportion OF the short&se
The company averages about five cefalcaticTs q
day but in &r- Hams case the amount involved
IS quite large
consisting OF real estate al Brookline and Need
ham. Mass, and q considerable amount OF Sc
curities had been turned over 10 the surety
company. He added: Mr.. Ham has been in
OR employ four or five wears. and was not IN
der a bond. our business IS thai 81 bonding
employees. but no surety company bonds the en-
11loves Of It's business rivals each company car
irving lis OWL risks OF this class. M Ham was
chosen as being the most desirable and trust
worthy q a long line Of applicants for the
we do not know how long his populations
have been going on They were discovered
Through our checking system, though not until
100 late 10 prevent big loss. His plan was 10
take securities lodged with sureties and
secure loans on them. He could not dispose OF
the e.uritIes outright, but he could place them
behind loans.
when We wanted TO check him he generally
be able get the securities Out in time TO have
them there Tor our inspection. He did this by
waking the funds OF the home which he had TO
the amount OF about 100000 completely a.
his disposal. With this money he would pay
his loan, set the securities 50 that they would
be on hand for us. and Their, when the checking
was over. he would deposit the securities on new
loans
When We learned Of the matter charged
him with 81, but not until We were ready He
turned over to us al his property. and on our
advice he went before the directors OF the home
and made clean breast OF the whole affair.
This two three days ago, after We had
sent inspector from this city TO Boston.
When We were quite ready 1Ve had him arrested.
and we viii press the case against him. for
don't think that man who would rob a charita-
bile institution is entitled 10 very much Consd
aration under the circumstances.
Among the trustees of the American Surety
iCornpanv are StUyvesaut Fish, George J. Gould,
T. J. Eerwind. Comedies y. Bliss. William Mel
son Cromwell Thomas +. Ryan, Grant b.
Schley. Robert T. Lincoln. Morton r. Plant.
james Stilnan, ChaunCey ". Depew, James B.
Duke. William H. Baldwin, IT., Richard Dela-
aeld James II. Fckels. Alyia w. Krech, James
II HYDE. John j. Mitchell. r. C.. Ke-ens, Will
san A. Nash. John Sloane. Robert Pitcairn,
g.lihu Root r. a. C. Smith. II. IT, Treeland.
Charles A. Conaut. Daniel s Lamont. Valentine
p Snyder and Frank r. Lawrence.
COMPRESSED AIR REORGANIZATION.