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This newspaper page contains 12 articles. Subscribers can read the full text of each article.
Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Feb 27, 1904
Page
7
An advertisement extols Dr Pettingills Kidney-Wort Tablets as a natural kidney based fix for vitality. It condemns vile stimulants and claims the remedy strengthens kidneys, boosts energy and youth, with a testimonial pledge of renewed strength and confidence.
A Post reporter learned one associate questioned why Wallace H Ham’s wife turned over all her property to the American Surety Company and even her husband’s life insurance. He suggested she was misinformed that the $50,000 would help her husband’s defalcation, while noting her two Brookline houses and Needham farm were bought with her own money and should not be forfeited.
The excerpt records a lawyer or witness remark expressing concern that a decision might likely spare the husband, followed by Mr. Bartlett declining to comment on that matter. The brief dialogue hints at a marital or legal dispute surrounding protective outcomes.
Boston ministers condemn embezzler Wallace H. Ham cloaked in church trust. Rev Crane cites historical trust abuses and calls for accountability while noting hypocritical gloating over his fall. Other pastors warn funds security and moral responsibility within churches.
Attorney Bartlett said the family is not pushing hard for bail for Wallace Ham and may or may not obtain it. Mrs Ham visited him, saw him walk from his cell to the guard room, and sobbed in his arms as prison officers described the emotional scene.
Wallace Ham, former head of the American Surety Company, sits jailed as auditors digest losses totaling about $190,000 including securities and funds from St Luke's Home and St Paul's Church. Attorney claims mental incapacity as Ham's fate nears grand jury scrutiny, with bail likely to be cut in half.
It emerged yesterday that Bishop William Lawrence uncovered Ham's embezzlement tied to St. Luke's Home and helped recover $30,000. A bank friend alerted him, trustees confronted the treasurer, and a full confession followed after the securities were produced and returned.
Attorney Henry G Vaughan succeeds Ham as treasurer and says funds handled were mainly rents and pew income. He doubts church losses are as large as early reports suggested, noting real estate holdings limited Hamosing. Auditors will verify entries, though precise monthly sums remain unclear.
A portion of the article notes that securities remained at a bank in his name causing delays in the transfer. The details imply ongoing custody issues and potential regulatory or fiduciary steps to complete ownership changes.
A. E. Miller and Henry Eck of New York demanded an accounting from Wallace Ham, who remained nominal head of the Boston office as his powers were stripped. Sheridan, a quiet detective, shadowed Ham to prevent an escape while a half million dollars sat in the vault and the firm fought losses exceeding $100,000.
A travelling auditor exposed Wallace Ham’s losses after a discovery. Ham was kept under guard in his home nightly until arrest. Rumors linked his downfall to Amalgamated stock declines, with sugars and steel bets also noted. His erratic behavior was blamed on worsening health.
On Dedham avenue Needham about a mile and a half from the railroad, the summer residence of Wallace H. Ham covers about 20 acres with orchards, creamery, stable and caretaker’s frame building. Valued at $15,000 the red house with white trim stands as the town’s most attractive home in the vicinity, offering a retreat for a busy city man.
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