Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-07-09
SAFE IS EMPTY,
Notwithstanding,
BOOKS MISSING

UUUNO UtIOOIuu
Continued from First PageD
ledger that is essential to the business
of the association, including the cash
book showing the daily receipts of
money, the book containing the &C
counts of individual stockholders and
| the volume containing records of the
deeds of trust upon which money had
been loaned.
Absolutely the only record of any kind
left in the Office of the building assocfa-
ton is memorandum of money taken In
since June II. when Mr.. Miller was at his
desk for the last time. The scratch book
amounts received over the counter for
later entry into the regular journal. does
not show that a single dollar came in be-
tween June 4 and June II, although
President Fleming said this morning that
money was received-how much he could
not say.
About 700 Stockholders.
There are about 700 stockholders in the
association at the present time. There Is
no known list Of these unless Mr.. Miller
has it, and no record of the money paid
in by them.
Immediately on the discovery that the
associations safe was empty President
Fleming notified the American surety
Company of 100 Broadway. New York
city. which is ON Treasurer Miller's bond
for Sc. 900. of the condition of affairs. The
surety company replied Immediately. urg-
ing that a warrant be sworn out for MI.
Millers arrest
President Fleming did not do this, how
ever, for, after conference with the
association directors, 1t was agreed that
in view of the lack of knowledge of the
associations affairs, the absence of the
books, etc, il was possible to make
any definite statement by way of pre-
liminary prosecution. The fact that MIR
Miller was desperately Ill at his home in
;5t.. street ana could not possibly leave
the city was also taken into considera-
ton.
President Fleming. who resides at 436
4th street northeast. has been at the mead
OF the First Cooperative Building Asso-
citation only short time, having been
elected at the annual meeting or the
stockholders June "a. Since then he has
been working night and day to straighten
out the affairs Of the association. which
were known to be In poor shape. although
no. hing like the developments Of the past
few days have brought forth was sus-
pected for moment
The officers of the association elected at
the June 1 meeting were j. II. Chamber
lin of 1894 Wisconsin avenue, vice preSf-
dent: J. Barton Miller, secretary and
treasurer, and the board of directors was
made up of s. Thomas Brown OF 12211a
Wisconsin avenue northwest, Henry K.
Gilbert 1862 Wisconsin avenue; George
Freeman, 1422 Wisconsin avenue; Daniel
Johnson Henry L. Wagner and w. A.
Cunningham Frank a. Whalan. also
elected q director at the meeting June 4,
resigned last Tuesday. as he had irstf-
tuted a recovery suit against the assoeia-
ton and did not consider it proper to sit
on the board Of directors while this was
pending.
Compliments for Miller.
At the meeting. when J. Barton Miller
was reelected secretary and treasurer.
the annual report made to the stockhold-
ers by Edgar Frusby and Joseph II. Lee.
composing the finance and auditing conf
mittee. included the following cornpli-
mentary comments:
I'VE find that your secretary, J. Barton
Miller. has been unusually faithful to the
trust reposed in him. He has worked
night and day to facilitate the members
convenience. Your rectors have recog-
nized his judgment and supported nun
unanimously. He has been faithful to the
trust committed to him, and deserves the
support and confidence of every Stock
holder in the association.
The First Cooperative Building Associa-
ton was organized IN 1882 and for many
years was a prosperous affair, regularly
paying satisfactory dividends and able to
meet Withdrawals on the nail, oftentimes
voluntarily dispensing with the thirty
days notice that may be REQUIRED When
depos.tors wish to take out their funds.
But for the last two years II mas been
going steadily downward, and in that
time not dollar has been loaned Dur
ing the latter portion OF this period II
was not possible to meet the withdrawal
demands of depositors, even on thirty
days notice. and much trouble and DIM
Guilty has been the result.
Money taken in, instead OF being inn
mediately loaned out on good security. as
was the case when the association was on
its feet and paying dividends. was i'm
metiiately distributed pro rata, share and
share alike. among those depositors VINO
were clamoring to withdraw the amounts
credited to them. A suit for recovery was
started about three weeks ago but this
was compromised.
Need for Receivership.
For the last couple of weeks. however.
1t has been plain to President Fleming
and the other newly elected officers and
directors that the best thing for the as
ISOLATION was to wind up its affairs by the
receivership process. And when Mr..
Miller went home i'll and the new officers
could not find the books of the concern or
any semblance of records this course be-
came not only advisable. but imperatiFely
necessary.
President Fleming told u Star reporter
today that if there is any shortage--con-
corning which, owing to the absence OF
all records. 1t is Impossible to speak def
nitely at this time-it could have only
been brought about through the retention
by some one without entry of such cash
as came over the counter for deposit.
There was not chance, he insisted, that
anything could he wrong with the prop
erty owned by the association or upon
which it holds liens. The association
owns outright four small pieces of prop
erty and they are Self-suStaininE. Its