Indianapolis Times, Indianapolis, Marion County, 12 August 1946 — Page 9

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N HELP .] S GROWTH]

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THE KIDS out in the 300 and 400 blocks on N. Wallace st. are strictly big time operators—when’ they do something they do it up right. Saturday the kids gave a talent revue in the back yard of the Kenneth Powell residence, 317 N. Wallace. Money from the show is to go to the infantile paralysis fund. The show included refreshments, an auction sale, and all the trimming, even a guest of honor. The guest was the block's most famous resident, Police Chief Jesse McMurtry, who lives at 411. . . . A parade which ‘they gave before the show was spearheaded with a huge professional looking sixfoot banner, painted by Mr, Powell. The final touch— something the kids will be talking about for months— was an honest to goodness police motorcycle escort, provided by the chief to make the parade “professional Two hundred persons attended the show and swelled the fund to almost $65. . . . Another example of youthful initiative was a mobile lemonade stand operated by Don Meek, 424 N. Bosart ave, and Henry Dexelon, 405 N. Bosart. The boys decided a mobile ilecd would reach a bigger trade so they loaded an orange crate onto a wagon, and presto—a motorized “cool off” .station. We were one of their patrons when they came down Wallace. We'd have made a return trip, too, if they hadn't disappeared while we were chatting with some Wallace st. residents,

We Begin Sc@gg Double

RIGHT AFTER THE QUAFF, we were almost

Double dowble trouble . . . The twin terrors are (rear, lefé to right) Donald Freeman, Sandra Klingensmith and Ronald Freeman. Andrea Klingensmith heads the lineup. :

Mountain Mine

SILVERTON, ' Colo.,, Aug. 12.—We happened visit the Shenandoah-Dives mine high up in King Solomon mountains just as Charles A. Chase, general manager, was ready to make an inspection tour. After we had ridden on a-little motorcar about two-thirds of a mile staight into the mountain -and had been taken up elevators to the 1900-foot level, Bern Hamish, mine superintendent, led the way to an old tunnel that hadn't been used in years. It

had heen blasted by the former.owners of the mine —perhaps 30, 40 or 50 years ago. ¥ The beams of the lights on our helmets shot ahead into the darkness and great jewels glistened. But they weren't diamonds. This quartz produces gold, silver, copper, lead and zinc—all from the one vein—but it doesn't include gems. These pendants reflecting the beams or our lights were icicles. y

Picture Is Changed ” MR. HAMISH picked up rocks here and there and cracked them open with his” pick. He and Mr. Chase examined them with interest. H'm Mighty good stuff. These rocks had been discarded by the former owners. They contained good metals, but not enough to justify their being transported down the mountain on the backs of burros and mules. In about an hour we stood on the top of King Solomon's crown, more than 13,000 feet up, and looked down on other peaks and ridges spotted with snow, on silver ribbons that were roaring streams and on blue lakes in the bottoms of green and red cups, on canyons® and ghost mines. We were far above timberline, but growing among the rocks were beauti-

Aviation

NEW YORK, Aug. 12—Sometimé this fall, a youthful test’pilot will stack his life against his confidence in supersonic speed and allow himself to be hurtleds through space in a man-made rocket-like airplane. The first pilot-carrying airplane designed to travel faster than sound probably will be started on its way some 35,000 feet in the air, from the belly of a B-29 Superfortess. From that point on it will be up to the test pilot to keep the plane in the air and control it, if possible, at 80,000 feet. 3 According to the national advisory committee on aeronautics, “the pilot may find himself in a position akin to that of a motorist who suddenly finds his car turning to the left when he turns the wheel toward the right.” Tests of the now-famed Bell XS-1 may be carried out over Muroc Lake, Cal, the A. A. F's test field. As the plane leaves the B-29 the pilot will attempt to send it into much higher altitudes where he may attain greater speeds. It will be the first time that man has flown that high, if the hoped-for altitudes are reached.

Control Reactions Unknown N. A. C. A. TODAY pointed out that “just how fast the VS-1 will be able to fly will probably depend upon how the controls react near the speed of sound (712 miles per hour—upward, according to altitude). This, rather than the drag and thrust that can be calculated, constitutes the real unknown. The ‘transonic region,’ from about 80 per cent to 120 per cent of the speed of sound, is difficult to duplicate in a wind tunnel, due to shock waves that ‘choke’ the tunnel.” Completely instrumented by N. A. C A. research engineers, the Bell XS-1 is to be acceptably tested by the manufacturer to meet certain specifications of performance and handling up to a speed limit of 80

My Day

NEW YORK, Sunday—The American people today are not really afraid of*any other nation. We are sure that we will never use our power aggressively. We know: that we want peace. We therefore cannot understand why everyone does not believe that we hold the secret of the atomic bomb simply because we do not want anyone to have the power to use it again, We are shocked and surprised when we find other people doubt our intentions, forgetting entirely their background is not, like ours. We forget, too, that-our use of the atom bomb in Japan killed many innocent civilians and shocked the traditional feeling which had grown up through previous wars, when a line could be drawn between fighting men and civilians.

Distinction No Longer Ewists IN ALL PROBABILITY, our government Was right in believing that use of the bomb would end the war more quickly and thereby save millions of lives. But in any ease, in the modern atomic world, no future war can ever draw that line of distinction again, and it is just as well that we should understand this once and for all. With our rather naive assumption that everyone can understand our background and our good intentions. we are surpfised to find a lack of confidence in what we say and in our actions when we withhold - 5 “

ra.

Inside Indianapolis By Donna Mikels

convinced the boys: had something sstionger than “cool-ade” in their cart. Wea thought we were seeing double—and we were. It was o. Kk. though, since the street boasts two sets of twins, Ronnie and Donnie Freeman, 316, and Sandra and Andrea Klingensmith, 439. . . . There was a funny coincidence in the meighborhood recently, Mr. and Mrs. Paul Freeman and Mr. and Mrs. Fred Vogel, 422, both had children the same day dt the same hospital. Both infants were boys and both were born at 3 o'clock, the Freeman boy at 3 a. m. and the youngest Vogel at 3 p. m. . . . Another of the. block's young fry, Sue Ann Powell, has the enviable position of chewing bubble gum at the recommendation of her doctor. The doctor ‘came in after 4-year-old Sue Ann was forbidden bubble gum—her mother was tired of washing exploded bubbles out of her hair and ears. “Npnsense,” said the doc, “ it's good for her,” That was enough to endear the medical profession to Sue forever. She's not even going to cat apples if what they say about their effect on doctor's is true. . . . We found the block has another well known resident in addition to the police chief. Herman E. Bowers, long and lean chairman of city council's long and lean financial affairs, makes his home at 419.

It's No Place for Burglars WE'D GUESS that the two blocks on the shady east side street would be a good place for burglars to “avoid. It boasts as residents the police chief, Policeman Vogel, and Dan Scanlon, on leave from the police force. . . . We spent an instructive few minutes learning the terminology of Order of Eastern Star units at the home of Mrs. James E. Spilman, 415. Mrs. Spilman, who's tonductress of the Millersville O. E. S. chapter, was entertaining Mrs. Iva Dalton, of 1415 Shannon st. her worthy matron. _.. We had the darndest time trying to find the block's longtime resident. Someone told us they thought it was Mrs Emma b. Fricker, of 429. Not so, though. Mrs. Fricker, who was entertaining company from Jeffersonville, told us she'd only lived on the block 25 years. The long time resident, she thought, might be the Hamilton's. Mr. and Mrs. Walter Hamilton, 340, did a little counting back and decided they'd moved there in 1919. But, she told us, there were at least two other people who'd lived there longer, a Mrs. Rowe on one side of her, or Mrs. Busenbark on the other. We went to Mrs. Busenbark and thought for a while she was going to send us on to Mrs. Lowe. After a little figuring (she didn't want to take an honor that might belong to someone else). Mrs. Busenbark, head of the cafeteria at Howe, decided she is the oldest resident from the standpoint of continuous residence. She's lived in ‘he block since 1914. With that settled we wobbled ancertainly away (all the houses are on hills and our insteps were stepped out) “hoping that Chief McMurtry might come up with a motorcycle escort to town or at least for the re-appearance of the mobile “cool off” unit.

By Eldon Roark

ful little flowers of many kinds and colors—yellow, red. purple, white. We retraced our steps—back. into the mine through the abandoned tunnel] to the 1900-foot level, and sardined down the little two-man elevator to the 1700foot level. Then we had a look at a most messy operation—a drift in which the water was pouring through the ceiling and walls. Men were busy loading cars from chutes on the walll. The stuff looked like plain old rocky yellow mud to me, but Mr. Chase and Mr. Hamish liked it.

Hotel Clings to Cliff

FINALLY at the main level we boarded the little motor car. and rode out to the mine's big dining room .at the entrance. It is part of the company hotel, a four-story frame building clinging to the face of the cliff. The men who prefer to live in the hotel instead of town—mostly single fellows—pay $1.25. a day for bed and board. The dining room and Kitchen were spotless. For lunch we bad cream of potato soup, bread, crackers and real butter, wieners and sauerkraut, browned po-

tatoes and gravy, olives, coffee and tea, watermelon. | THE STORY of Charles Ponzi begins in 1919 in the seething north

After lunch once more we climbed aboard Mr. Hamish’s new toy. his little motor car, and went streaking it back into the mountain. Down through the blackness of another tunnel we put-putted and clang-clanged. And it was the wettest one yet. Water poured it, and streams ran alongside the track. We told Mr. Hamish goodby at the mine entrance, and the three of us—Mr. Chase, my son and I— climbed into an ore bucket and went swinging out into space, going back to the mill and Mr. Chase's office over the aerial tramway.

By Max B. Cook

per cent of the speed of sound, or about 612 miles per

hour at standard sea level temperature. “At this point,” the announcement reports, “it will be turned over to the N. A. C. A. for flight research up to 120

bevond if possible.’ safe upper limit of A. A. F. for further

per cent of the speed of sound, or When it has been flown up to its speed, it will be turned over to the experiment, as they “see fit.”

3 Test Models to Be Built

THREE MODELS are to be built by Bell Aircraft

Bell for experiment and one retained by N. A. C. A. until research is complete. A similar project is in progress under a navy contract with Douglas Aircraft Co. Much of the early data was obtained in tests of free-falling bodies released from high altitudes. They exceeded the speed of sound. News of the coming XS-1 tests was first released at Wright field, Dayton, by army air forces, several

weeks ago. It was. then reported that the A. A. F. was aiming at 1500 miles-per-hour speed. Even if supersonic speed should be attained, aeronautical

engineers admit that years of further research will be required before it can be applied to commercial planes. Glider, motorless SX-1's have been flown successfully. The coming flight will be powered with a-ram jet engine. The pilot will be encased in the latest advanced type. of high altitude air-cushioned suit which will keep the air pressure on his body normal despite extremely high altitudes which the XSs-1

may attain. Oxygen-equipped parachutes, in case of a bail out, also will be worn His flight is going to be very similar to that of the legendary “rocket to the moon.” No one will know what is going to happen until the flight is on—,

and over.

By Eleanor Roosevelt

from an ally the knowledge we possess of a destructive weapon. ‘Isn't it just possible that they may wonder why we do not understand their background, why we do not trust them if we expect them to trust us?

Enormous Russian Potential TAKE RUSSIA, for instance. How many of us realize that an area which in our country would

the war? The Russians in this area lost their homes, their crops and their lives, and the survivors have starved for years.

"The

Indianapolis Times

SECOND SECTION

Naive Ponzi Led the Pack, Took Millions

By EDWARD J. MOWERY Scripps-Howard Staff Writer HISTORY is jammed with dreamers, most of whom sincerely | probed fleecy clouds for a golden rainbow. Others were confirmed | mountebanks. But in the long history of finan{cial scheming, nothing remotely approaches the fantastic, “giddy ac- | complishment of Charles Ponzi. {| This ebullient little Italian, who {tortured the financial minds of two continents 26 years ago, is virtually unknown to this generation. i ” n y | YET IN SEVEN short months he milked nearly $15,000,000 out of 40;000 small investors, had officials of staid, conservative New England trembling at the sheer audacity of

(“Paper Empire” revelations. of today suggest other get-rich-quick-Wallingford stories of the {| past. Here is one of them.)

his operations, and brazenly dared ‘the financial wizards of a dozen countries to plug his fountain of flowing gold. Ponzi wore a cloak of naivete. The simplicity of his scheme took one's breath. | By manipulating depreciation of foreign currency through -international reply coupons, he paid “50

MONDAY, AUGUST 12, 1946

SWINDLERS

note issued 14, 1920,

da Te i

for $50;

1934 at chusetts nor's office ing full pardon,

orderly. Here was the payoff. Either cash or a draft on the Hanover Trust Co. No fuss, no argument. » " n MONEY was Boston's cheapest commodity around ‘Ponzi-ville. And

| bank directors, watching their de- | posits go down, damned this Italian | upstart vigorously in closed cham- | bers. Not that Ponzi cared! He was | opening branch offices all over New { England. He had plans . . | banks (he reputedly owned part of { Hanover), a steamship line, a chain | of movie theaters. Yet this man, whose very ap- | pearance on a street caused a traffic

| jam, lived simply, corrupted none. [dane aspects of his daily life. Offi-|yestments by agents until further | |cialdom, too, stood in the shadows, !; tice and post notices relative to

» ” ” THE FIRST Ponzi personal pur- { chase, a beautiful but modest

stucco home at 19 Slocum rd., Lexington, raised few eyebrows.

When he rode into Boston in aidoesn't say $13,000 Locomobile,|cided to ask authorities to investi-

custom-built

bypass “costly bank commissions.” But this financial buccaneer of the chain gimmick had to face a showdown. | The press still pecked at the mun-

{even though Calvin Coolidge, the i ultra-conservative, sat in the state | house. Ponzi's

per cent in 50 days” He pocketed| friends shrugged. You can't eat|gate him.

up to 300 per cent.

be settled. Slovenly | oblivion.

! * =» =

side Italian section of Boston. This opulence. | Ponzi, a 66-inch bundle of dapper {insolence, with black hair and black

|eves and pearly teeth, was barely of the New York World he was

Legality of his scheme will never operational)

money. And Ponzi's income would choke a bison. But he ate in small | restaurants, never drank and en-| about after Ponzi hired an alert] |methods tumbled five banks into|joveq his lawn, which sparkled with|press agent. The P. A. drooling at ihe publicity value of his client and {the money literally swept from the {In July, it hit a fabulous total of floor in Ponzi offices, assertedly ad$6,500,000. The top day found $2,- | vised the boss to WELCOME such the!”

evergreens. |

[700,000 rolling in from frantic

{cloud of golden dreams. 8 #8 { ON JULY 30 Ponzi told a writer

In June his income was $2,500,000.

" . n ONE SCRIBE swears

, an investigation. Exoneration,

| was the sunrise era of American fighting investors who also rode a P. A. gloated, will make Ponzi the)

man of the century. Little Napoleon walked right into { his Waterloo. Ponzi, lolling on the terrace at his

able to make expenses as an im- | fiahbergasted at the response of home, told a reporter:

porters’ agent.

small people. He had to suspend op-

“It won't last forever. No good

| His pretty young wife, nee Rose erations two days to systematize his| thing does. But I figure on two or

| Guecco, was his closest pal even {though Ponzi

had ruined her fa-|

office, At the time he had 100 Boston

three months before the Interna- | tional Postal Union meets in the

{ther's fruit business through over-|gagents, an unknown number of {fall and revises its rules.

expansion. In the

ramshackle School st. office. Ponzi desperately sought backing for a trade publication. It was fall. He must work fast. | x = =»

| LAZILY he opened a letter. Tt

{was a query from Italy. Out tum-

|bled an international reply coupon {in lieu of return postage. Ponzi toyed with the paper. Then he sat upright. | No, it was Could

too simple!

| currency belonging to the Universal

| subagents and 40 offices outside | Bosto , plus an office exclusively {for agents in Hanover st. Vehicular trafic was completel snarled in School st. Some 20 policemen fought to keep crowds

orderly. In less than an hour after takes right along. But they share|30.000 in two weeks cash drawers it only with their own: I give every- | clerks to write checks until they

the office opened, bulged, wastebaskets dripped | 2. ® = | PONZI explained the, simple me{chanics “of his plan. | “You invest $10 and I give you

bills

Corp. One will be flown by army, one retained py | this humble form of international | my note for $15 payable in 80]

| days,” he smiled, “My European

u " n THAT'S TIME enough to make a {good many more millions. I want

financial district. I've simply taken the sort of advantage Wall Street

| body a chance.” {| On July 26, 1920. a memorable |date, Charles Ponzi closed his-busi-ness and called officials. He explained his action succinctly: “There was no law to close me. {But I felt it unfair to ‘continue

| Postal union be manipulated at a|agent, with $10 ‘from my funds, business without giving the public

profit? Ponzi's agile mind worked like {a triphammer | Coupons were redeemable

| unaffected by fluctuations of cur|rency. Depressed lire or. francs . . {a foreign agent. Eureka! | Ponzi, the Mazuma King, 1a byword among north side. ~

buys so many lire francs “He then goes to the post office (any country with cheap money)

for {and buys with this native coinage postage at a fixed rate of exchange, [international reply coupons, cost-|could stand closest inspection, I

|ing 6 cents each on a universal gold

| er 45 or 50 days. He continued: “But when the $1 is exchanged

fullest opportunity to know its | character. ” ” »

“DETERMINED to show that 1

| called Attorney General (J. Wesley)

.| basis. Say 16 coupons are bought.” |Allen, District Attorney (Joseph C.)

| Pelletier and U. S. Attorney (Daniel

| became | NINETY DAYS was the maxi- | U.) Gallagher, suggesting they confriends on the mum period. He also paid off in!fer jointly with me to investigate

my business. “Gallagher and Pelletier agreed.

SPEAKEASY bartenders, elevator | for three or four times that much | Allen dissented. I had to arrange

agrees to pay $75

Charles Ponzi with his wife as they appeared in Massa~

was refused.

it came!

Ponxt July which

right,

seekstate which

Lower left, Mrs, Rose Ponzi at the ironing board before the Mazuma Wizard got in the chips; Charles Ponzi, the Modern Midas, when he was going good; right, Lucy Meli, secretary of Ponzi's Security Exchange Co,

. more “millions” available in Europe to|ponzi hurried to Pelletier's office

land while the D. A. listened, he | phoned his secretary (also known as his office manager), Lucy Meli, 18-year-old stenographer. He told her to terminate all in-

| payments. » . ” PELLETIER, his face

| you're on the level.” Ponzi replied: “I am.”

| sel.

lan auditor. At Allen's office, however,

stare, own ‘investigation. | wouldn't “stand for it.”

of this meeting: ’ = - ~ “I WOULDN'T budge. I dropped him (Allen), He became my Nem- | esis.” : Lighting striking a spelling bee couldn't have caused more conster- | nation in the East than Ponzi's voluntary, abrupt business shutdown. {It precipitated Boston's greatest run. | Later, he told of the frenzied, 14-

y|an office in the heart of New York's|day outpouring of cash at his

offices: | “I had 40.000 depositors. We paid I told my

| were biue in the face. If one fell | exhausted, another was to replace him.” ¥ » y HE COULDN'T get police protec tion, Downtown Boston was snarled. Men, women, children went berserk. He hired private detectives. In. the midst of the melee a New York man offered to buy Ponzi out for $10,000.000. The deal flopped. Ponzi was arrested. And officials disclosed that the Mazuma King, native of Parma, Italy, had a record. Reputedly imprisoned in Italy as a thief before he eame to Canada (at 21) in 1908, Ponzi was jailed after a Canadian bank in which he worked failed. He also was allegedly jailed for smuggling aliens into the U, 8S.

boys, truck drivers, scrubwomen,|in Italian currency, the dollar has| separate conferemces. I told Pelie- Then came the federal indictments,

| barbers and burly

stevedores all |earned 300 or 400 per cent. C~ pons | tier:

‘I'll stop taking in money

the longest true bills in New Eng-

|over New England brought their|are sent to agents in other coun-|until further notice right now. ri |land history. Fraud to the tune of { | tries where money has not depreci- | continue to pay all matured notes. 86 counts.

| money to Midas.

| Overwhelmed, delirious, Ponzi|ated so badly. There they are re-|It would be unfair to suspend such "nn lissued notes. with interest at 40|deemed at local post offices at facé | payments’ Pelletier mentioned] IF GUILTY, Ponzi faced 430 [per cent payable in 90 days. | value in postage stamps | possibility of a panic. years in federal prison. No. they wouldn't be burdened! “Large users take the stamps, my "nN Investigators found that Ponzi's with coupons! These were “papér”| European $10 has earned 200 to 400 | “I TOLD him I would publish |clerks, during the run, paid untold | transactions. Profit? Oh, 125 per! per cent, your $10 is credited with | notices that matured notes will|{thousands to their relatives or cent or so | 50 per cent, and still I'll be at least be paid and that holders of un- | friends, | At first it was a trickle of green. 150 per cent to the good.’ {matured notes may present them| A $14 voucher became a $1400 Then an avalanche. Ponzi hired a | «8» {for payment of the principal. | voucher. Agents got a flat 10 per secretary and assistants. He raised | WAS PONZI masterminding al “I am equipped to meet a RUN. |cent, Subagents also cleaned up.

the interest to 50 per cent. ” n » BANKERS fumed. discreetly looked the other way. Officials ignored the ‘Napoleon of Finance.” But not the public. | Ponzi’'s $141,000 take in | jumped to $440,000 in May, They Lawrence, Lowell. Worcester, Providence, Hartford, even Bridgeport. When his School st.

April

lin Pi alley.

| Crowds jammed traffic. And 16 | bewildered, sweating clerks feverRussia has enormous potential natural resources, ishly accepted bundles of money

many of them as yet undeveloped. She managed to and wrote promissory notes.

move a large part of her industries back from the

danger zone during the war. What she imports today is not consumer goods,

which must doubtless be in great demand by her card-index file was the only clew to people. Her government needs goods which will serve, the thousands of investors who to put her industries into production, and it exacts dumped their money into Ponzi

material sacrifices from the people to attain these ‘nds. ‘ Her government has succeeded in keeping the support of the people not only through the terrific

came from Charlestown,

~uarters cover roughly the region from the Atlantic seaboard | overflowed in the very shadow of to the Mississippi was devastated in Russia during|city hall, ‘Ponzi opened a branch

| colossal bluff in bragging of his | European agents? None could tell

Newspapers | them. He boasted also of having]

I have more than $5,000,000 in Bos- | ton. alone.” Confident, hypnotically persuasive,

WE THE WOMEN

By RUTH MILLETT SOMEBODY (not an educator, of course) has suggested that colleges and universities be limited to men only for the next five years, “so that the veterans who have to make a living for a family can gain entrance.”

1 x n =» ‘ EY AR x Now there is a simple solution to | THERE WERE no vaults. Few the problem of crowded colleges. |cash drawers. And a primitive It's so simple, in fact, that we | might solve a lot of other problems by using the same method of ttack. coffers. One investor, telling his | * ag : vn friends about the office. said: | QUIT MAKING women's clothes

“It's amazing. Clerks just throw wastebaskets | with what they have in their clos-

| your money into

for five vears (let 'em get along

hardships of invasion, but also in’ a post-war period | when the drawers are filled. They lets). Then men can have all the where hardships are far’greater than those we know |stuff it into their pockets like shirts they need, to wear while

in our own difficult post-war period in the United States, i Sa ’ a

- ‘

lettuce.

The Pi Alley scene was more Let » ; * i

earning a living. ; the housewife balance the

’ By Ruth Millett

College Overcrowding Answer Might Ease Other Shortages

food-budget by buying meat for just the masculine members of the family. Quit selling cars to women until there are enough on the market for every man who is a prospec} tive buyer. (There are lots of people who get red in the face at the thought of cases where both a husband and his wife have new cars—and it's always the wife's car that is considered the luxury.)

” » AND WHEN jobs Ret scarce we can solve that problem simply by sending women back to the kitchen. ~ Silly, huh? But is it really.any more foolish to talk about making women give up meat than to talk of making them give up the right to a higher education or the right to compete with men for jobs? =

One. agent alone pocketed $200,000. A butcher's helper quit his job to earn, as agenf, $1000 daily. Officials stag rat races to see who could find ‘the largest Ponzi cache in local banks. They found $500,000 in one haul. The scavenger hunt went on. The financial world rocked. Down tumbled the Hanover Trust Co. Irate investors stormeéd the state house. They wanted their money back. » » ~ AND THE AUDACITY of the scheme sparkled with announcement that Ponzi never had more than six international reply cou[pons in his office. They were , . . just samples. Ponzi was jailed Aug. 13. On Sept. T he got two primary votes for state treasurer. Then he plummeted to the bottom. He served some three years in federal prison while the Suffolk county grand jury held in abeyance 12 additional indictments with 68 counts... For $9,077,448 cash received, the indictments charged, he issued $14872,327 in notes payable. Drawn and haggard, Ponal left Plymouth jail Aug. 6, 1024, to face nine more years in the state prison

: white, bulging newspaper file {yrned to the money czar and as-| definitely how he Ce-|cartedly said: “Mr. Ponzi, I believe

Ponzi next visited Gallagher, who | was amazed he came without counThis official, equally impressed | {by Ponzi's candor, agreed to appoint

the get-rich-quick artist met a cold Allen said he would run his Ponzi said he/ Prophet{ically, Ponzie recalled the outcome |

PAGE

at Charlestown. Released on bail, he went to Florida for a last des~ perate effort to come back via & land-grab scheme. It fizzled.

” on HE SERVED his sentence. On Oct. 7, 1934, a weeping little man of 52, about to board the motorship Vulcania for Naples, apologized to reporters for his transgressions. “Hell, boys,” he said, “I'm worse than a woman.” Two years after his deportation, Rose, the game little wife, divorced him as a former jailed criminal, In 1930, a referee in bankruptcy sald 10° years' litigation “left nothe ing but a mass of papers.” Ponzl investors received 37 per cent. Today, Ponzi—not so redoubte able—is said to be in Buenos Aires, A new scheme a-brewing? Who knows? Ponzi once said: “There's more than one way te take the skin off a cow's back.”

Next: Dr, Frederick A. Cook,

lls — And Eels

Trouble Dogs | Truman, Army

—And Othman

| By FREDERICK C. OTHMAN United Press Staff Correspondent © WASHINGTON, Aug. 12-1 am {having trouble with my milkman, President Truman is worrying {about predatory lampreys. The OPA has abandoned dried octopus meat, The army is fussing about yellow {stripes down its pants legs. ” ~ ” THESE ARE trouBlous times, all right. and I fear I may have to | butter that milkman’s kisser with a coal shovel, He's the baby who ignored for {five years my pleas for one little {quarter of a pound for my pane cakes. He weaned me of my taste for butter. I don't like it. So now he leaves a pound of the stuff every other mornin on my stoop. My ice box is jammed with butter. I'm using it on cake, squeaky hinges, rutabaga, and the vacuum cleaner motor,

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” » ” I'M SLICKING down my halr with butter at 79 cents a pound. If that milkman doesn't quit, I'm goe ing to toss him to President True man's lampreys. A lamprey is an eel with an ap= petite as big as his mouth. He ate tacheg himself to any poor fish by means of suction cups, which are his standard equipment, and goes to work with his big. horny teeth, Somehow the Great Lakes got full of lampreys, which now threate en to eat all the fish. »” ” ” THE PRESIDENT, however, signed a bill which will put the federal government indirectly in the lamprey exterminating business, ale though how you go about extermie nating eels without also extermie nating fish I do not know. I once tried to eat a piece of boiled octopus, but it was pink in color, and rubbery like a typewriter eraser, and somehow I never got around to tasting it. I mean there is not much of a market for octo= pus meat. 3 The OPA has discovered this fact and has taken it off price controls, %rozen hot tamales, a comestible with which I am not familiar, also received the old heave-ho from the federal price experts.

» ” » HAVING announced that the cost . of living around the country went up 13 per cent, the.department of labor said a .couple of days later {the cost of food in Washington had gone down a fraction from the new high. This I have not yet noticed, The army, which is always up to something, is working on a rocket to the moon. . The trouble with this, it says, is that a fellow taking a week-end into lunar space is likely to collide with a meteor. I guess I will stick with the Pere Marquette railroad, which has abolished tipping on its trains. "

~ » THE OTHER problem of the army is whether to dress its soldiers like Nelson Eddy in technicolor epaulettes, or clothe them neatly but not gaudily like Ulysses Sh Grant, This involves pants of navy blue, slate blue, or baby blue, and a stripe of yellow or cerise, The army can't make 1p its mind on these problems and is asking for help from up bys standers, __Henry Kaiser gent one of his new automobiles to town and took some congressmen riding in it; later on maybe they'll be allowed to buy one of their own.’ on :

So you see where this country ie heading. : ¥ Z