Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-07-11
RECEIVER IN CHARGE
Controls Affairs of First Build
ing Association.
VISITS OFFICE
Will Establish Headquarters in
Downtown Section.
COURT APPROVES $4,000 BOND
officer of Organization Makes State
ment as to Possible Populations.
Few Records Available.
COURT APPROVES $4,000 B0NI

William Earl Ambrose. receiver of the
First Cooperative Building Association
Of Georgetown, accompanied by his coun-
sci. Attorney J. s.. Easby-Smth took
charge of the offices of the association,
1915 Wisconsin avenue, and all of it's eff
fects Mt l o'clock this afternoon After
u brief examination of the contents OF
the safe Mr.. Ambrose said to a Star
reporter that the books appear to be
hopelessly involved. and that there Is ap-
parently "A large amount Of cash upac-
counted for. He was unable to say how
much money might be found to be miss.
ing, but is of the opinion that the total
may reach 100000.
Steps have already been taken to learn
il possible, the whereabouts of the miss
ing books Of the association. Mr.. Am
brose has inquired of Attorney Henry T..
Davis. who represents J. Barton Miller
the deposed secretary treasurer of the
association. whether Mr.. Miller has the
books or can point the way to them. 1t Is
Mr.. Davis made was that there are no
books to be had.
It is the essential books of the associa-
charge book. record Of stockholders, show.
ing the individual holdings, and record
OF loans and deeds of trust, which latter
would show the property and assets o.
the association.
To Work With Cash Book.
In the absence of these books. Mr.. Am
brose will have to proceed as best he can
to ascertain the affairs of the association
from certain records on hand. These in
Guide the permanent cash book up to
June l of this year and a memorandum
kept by clerk of receipts from June II
to the present date. There is an absence
OF all records OF receipts between June l.
when an examination of the books was
made, and June II, when Mr.. Miller left
the city, to return a few days later and
remain in his home, 1921 Both street.
The plan which will be followed at once
will be to call in the individual pass books
of stockholders and ascertain as soon as
possible now much money was paid in to
he association from the list OF June until
the l7th. The sum Of these amounts Will
then be compared with the amount of
money deposited in the banks during that
period which is understood to have
amounted to about 5000.
Mr.. Ambrose will remove all the effects
of the association from it's office in
Georgetown Monday and will then proba-
bly, close UP the office and open another.
where he will conduct the business of re-
ceiver
There were present in the office of the
association this afternoon when Mr. Am
brose took charge President John Flem-
ing of the association, Vice President ].
II. Chamberlain, H. G. Wagner a director
and president of the association until
June ] of this year, and A. e. Jackson,
II. p. Gilbert and George Freeman. di-
rectors. together with Prof Edgar Fris-
by, who. with Joseph Lee. examined the
books q
ion and found them in good condition.
AS to Possible Populations.
1t was stated this afternoon by Presi-
dent Fleming and other officers of the
association that it is possible that pecu-
lations may have been going on for many
months without the knowledge of the
board of directors. This could easily have
been done, they say. in view Of the fact
that cash was continually being received
at the Office and might easily have been
entered up in the individual pass books of
stockholders without being shown on the
ledgerS in the office
AT this time, of course neither Mr. AM
brose nor any of the officers of the asso-
citation are willing to charge any one with
wrongdOing in connection with the bad
state of affairs in the association, but
they say that there may he some start
ling disclosures as the work of examining
the records in hand proceeds.
Neither Mr.. Ambrose nor Attorney Eas-
by Smith would say this afternoon what
action might be taken to disclose the
whereabouts OF the missing ledgers OF the
fact they have been destroyed. The dis
covery of the receiver that certain books
are missing will be reported to the court
next week.
Receiver Files Bond.
Justice Wright today signed the formal
order appointing Mr.. Ambrose as receiver
and the latter filed his bond in the sum
of $4,000. with the American Bonding
Company as surety. The first act of the
receiver was to designate Attorneys
James s. Easby-Smith and John Lewis
Smith as counsel to advise the receiver