Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1910-01-20
SHORTAGE SETTLED
IRRESPONSIBLE STORIES PURELY
SENSATIONAL.
Officials of the Aberdeen Savings
Loan Association Issue Statement
of Facts Concerning the Alleged
Shortage Of Secretary J. {. Cross.
Concern Amply Secured.

he air mas Deen Iull Oh Tun1OTS
for several days of an alleged defal-
cation of J C. Cross, secretary of the
Aberdeen Savings & Loan Associa-
tion, and a prominent pioneer attOr-
ney of Aberdeen, to an amount esti-
mated between SIS, 1000 and $4,000
and the story was rushed into the
daily papers, with all the Sensational
accessories usual in the yellow jour-
nails. In justice to the association.
as we'll as Mr.. Cross, the officials of
the concern this morning, gave out
the statement printed below, which
puts entirely different aspect on
the matter, and will be good news
to the stockholders in the institu
tion, as well as the numerous friends
of Mr.. Cross:
On January IA, a special meeting
was called by the president and a
committee appointed by him to audit
the accounts of j. C. Cross as secre-
tary for the year 1909 Mr.. France
appointed w. J. Patterson, J. S. Gum
and j. b. Elston, and Mr.. Cross turn
ed over all books and papers pertain
ing to the Association in his possess
ion and within a very short time the
committee discovered that the sys-
tom employed was not a correct and
proper one and that a very thorough
examination of the books and aC-
counts should be made.
With this in view Mr.. Jenson was
employed and together with the COM
mitee correct audit made from the
books turned over by Mr.. Cross.
lhe report of the committee and
expert was submitted yesterday 10
The Association and showed q short
age amounting to S15,7G6.31, which
is subject to legitimate corrections.
The system employed by Mr.. Cross
was suoh that it would be possible
for him to have credits for himself
which were not turned over to the
committee and the auditor The
committee Immediately. notified Mr..
Cross that there appeared to be a
shortage and called his attention to
various Irregularities. He stated
that it could not be possible that
such an error had occurred, but that
he did not wish the committee or
Association to feel that from a linan-
cial standpoint there would be dol
lars loss to the Association, and
with this object in view he rendered
us collaterals more than sufficient to
cover the amount as stated in this
article. The colaterals as delivered
to the Association consist OF first
mortgages on improved property in
this city and timber lands in this
state. The collaterals which have
been received by the Association can
be Immediately converted into money
and are of the finest grade and quail
ty. Mr.. Cross has an expert employ
ed who will endeavor to explain any
matters which are not clearly defined
in the books in the possession OF the
committee, and in event OF it appear
ing that crdit is due to Mr.. Cross
on any of the items in controversy
the proper credit will be given.
The committee has been beseiged
by newspaper reporters for state
ment regarding this matter and
same was promised as soon as 1t was
positively known what the amount
would be. The committee make this
statement at this time, but they wish
to state that no attempt has been
made to withhold the facts but that
the facts could not be given until
they were properly ascertained.
The statements as appearing in
The Tribune, of issue January 20,
were unauthorized and absolutely
false in every detail, and were not
given by Mr.. Patterson.
EUGENE FRANCE,
J. S. GUNN,
J. b. ELSTON,
F.. e. JONES,
w r PATTERSON