The news-democrat. (Providence, R.I.) 1906-1909, 1907-07-18
MANY CHANGES MADE IN
CORPORATION OFFICERS

There no longer appears reason 20 doubt
that the accounts OF all the so-called Goft
corporations that have been doing busf-
ness with the Home Realty company
and that have dealt in It's deeds. mort
cages and bonds will be- probed by a
special accountant under the direction of
the creditors committee.
One OF the members OF the creditors
committee informed a reporter last even
ing that he believed a condition will be
shown which Will amaze the creditors as
we'll as afford an interesting topic for
public discussion. 1T Is useless, in my
opinion" he said. ''for Col. Goff 20 as
sert that he Is not interested in the af-
fairs of the several companies that have
been dealing in the assets of the Home
Realty company. I believe that enough
Will be brought to the surface to cause
the permanent retirement from business
of the Peoples Trust company"
The suspension of payments by the
Central Trust company has drawn at
tention to the assets OF that corporation.
According TO the last report which this
corporation made 10 the state audior
the only stock securities held consisted
of 2575 shares of the Commercial cor
porstion. The Commercial corporations
main asset Is that portion of the original
Washington Park plat that remained
after the Home Investment company, the
predecessor of the Home Realty company,
had disposed of the more desirable lots
on that property. These lots are carried
by the company on a book valuation
In excess of 100000.
An asset OF the Commercial { pora-
tion is a block OF the bonds OF the Home
Realty company OF the face value OF
4s 00c. but with a value to be determined
only after the claims OF the creditors OF
the Home Realty are adjusted. as the
nj mr. ~ yp ga nr
otherwise
President Davis OF the Home Realty
company said yesterday that only $50 900
of the bonds of that corporation have been
issued. The original issue was. he said
retired by the second or special" issue
OF the first $4,000 issue were used for
| the purposes Of building construction.
| Suspension O. payment by the Central
| Trust company has called attention to
the changes that had been made in the
board OF officers. Formerly the president
| was Isaac L. Con- The vice presidents
| were Walter W. whipple and Horace
Granfield, Alfred p. Wsrd was the secre-
tary and Albert r. Davis was treasurer.
Mr. Ward is now the president and Sec
| retary and George A. Gray of Boston is
vice president. The directors were Will
liam c. Pierce. Jacob Stephans. F. M.
Balou, Henry d. Heyden, Richard Hodg-
son, Wlll1Am 1r1HDle. Albert r.. DaNls,
Horace Granfield Walter w. Whipple,
Joseph A. Latham. A. B. Spencer, ].
Frank Braids, Richard Peckham, Isaac
l.. Goff. Charles A. Wilson, Adam Nc
whinnie and Felix r. wendelschaefer.
Only Messrs. Stephans, Ballou, Heydon
and Latham are retained. and associated
with them are Messrs. Ward and Gray.
II is ascertained that the property of
the Home Realty company In Warwick.
L. tnaA arlr Tnff
Park and Oakhurst plats. in which an
equity OF $9eo 900 is claimed. cost Isaac l..
Com & Co. but $4,000. Shephen Condor OF
139 Massachusetts avenue is loser to the
extent OF 5000 because OF his connection
with the Home Realty company. Mr..
Condor was doing a contractors business
and was induced to turn his plant, horses.
wagons, etc, over TO the company. These
possessions were valued by him at little
under 5000, but he put in enough cash to
make up the sum named. and received
5000 in shares of the Home Realty stock.
Today and as foreman of the construc-
ton department OF the company. he Is a
creditor only to the extent of two weeks
salary
Isaac L. Con- has been interested
I'm mining properties In Goldneid, New
and Cripple Creek Col.
Col Frank w. Tillnghast, who Is act
ing as counsel for some of the interested
persons, said that no matter how the
properties and assets had been passed
about from one account 10 another. II will
be an easy matter 20 extract the kernel
from the husks and place II where It
rightly belongs.
President Ward OF the Central Trust
company explains as to the assets and
business operations Of the commercial
corporation 1t Is one OF Col. Goffs COM
panies. incorporated for the purpose OF
taking over some OF the assets OF the
now moribund Home Investment COM
pany. the original owner OF the wash
ineton Park plat. After the Home In
vestment company had worked the plat II
was turned over TO the Home Realty
company. and this In turn handed IL over
to the Commercial company. The assets.
therefore, comprised the less desirable
building lots that are left at Washington
Park and a tract of land on the Pontiac
road which Col Con plated.
The belief IL entertained by some credi-
tors that the outcome OF the meeting OF
the general body OF creditors. held
in Palestine Hall this morning. will either
~ baptrnntcv proceedings or an assign