The sun., 1907-08-16
CHURCH SCHOOL FUNDS GONE
TREtSI RER or PEDDIE NSTT-
TUTE ENJOYMENT ARRESTED.

samuel '. HuIse, q Newark Lawyer. bIrId
for Embek,iemcnt Was Long a Trus-
tee Of the pcttdie Memorial church
says IT'S Only Had bookkeeping.
Samuel v. Hulse. 90 years old. a Newark
lawyer, OF i57 Quitman street. was arraigned
in the First Criminal Court. Newark. yester-
day charged with embezzling $500 of the
endowment fund of Peddie Institute. a
Baptist preparatory school at Hights-
town. Y. j. He was held in default of
sI500O bail for the action of the Essex
county Grand Jury. The complaint against
him was made by John Montieth. counsel
for the board Of directors of the institution.
He alleged that the shortage in the fund
would sum up to nearly s85.OOO.
Huse was treasurer of the endowment
fund for ten years. and he was also a men,
ber of the board of trustees of the Peddie
Memorial Church for fifteen years. bot h
institutions being named. after Thomas B.
Peddie, former Newark trunk manu-
facturer
The arrest took place in MIR. Hulse a
Office at $40 Broad street soon after the COM
plant was made When Patrolman King
called at the Office with the warrant Mr..
Hulse was arranging TO close up the Office.
II was intimated that he was intending to
leave the city. His bail was fixed at 81. 500
at first hut was later doubled.
In his complaint as counsel for the finance
committee of the board Of trustees OF Peddie
Institute Mr. Monteth alleges that Hulse
received from Silomena D'Alessio the sum
of $500 in settlement on the latter 8
property In Seventh avenue near Wood
afr arl IL ia allanoA tho Yttnr fya
was cancelled June 2s 1905 but was carried
by Hulse as still being in existence. and part
of the assets of the endowment fund Other
alleged dembezzlementsc charged against Hulse
involve similar transactions. The mortgages
in every case upon which payment in full
was made. it is said. were carried on the
books of Hulse as still existing.
No entry that caused suspicion was
shown in his books up to June. Al the
last June meeting Mr. Hulse was asked for
a report. He did not have any and he
was not present to explain his failure to
submit one He refused to talk to any Of
the committee about il. The committee
investigated and the alleged misuse of the
endowment fund was discovered II was
found that the list of securities had not
been properly entered since 1900. About
twenty mortgages on as many different
pieces of property. mostly in Newark,
ord Of cancellation made. The recodsr
in most cases indicated that the mort gage
was still alive and interest payments made.
Mr.. Hulse said that he had been treasurer
of the Peddie Institute for ten years up to
June %, 1905. He resigned because he
had a dispute with the board Of directors
over his accounts. The directors. he de-
clsred, had been trying to adjust the diff
hculty He said il was a small matter.
and although he had been trying TO arrange
an adjustment with the directors he had
not been able 10 do it. He explained that
il wa confusion OF auditing the counts
of the college and that he was guilty Of no
wrongdolng He said il was wrong to
talk Of anything like s65 900. IA it was only
u little disagreement over accounts.
II sas said by Mr.. Montieth and Comp
troller J. Henry Baoheler Of Newark. who
is acting treasurer OF the endowment fund
at the request OF the committee on finance,
, that the alleged embezzlements Of Hulss
would not injure the fund, as the bulk of il
was intact. The committee has securities
representing values approximating 100000
IN hand The officials Of the institute de-
clare This sum insures them from any
serious trouble.