St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-11-21
FUND W."
Flemming and LOring. the Notorious
Swindlers, PaFd0ned by Presi-
dent Arthur.

CHICAGO, Nov. 20.-Yesterday John Ficm-
ming and Frank l. Loung, the notorious
FUND W." swindlers, walked out OF the coun-
ty Jail free men A pardon from President
Arthur bearing the great seal OF the United
States opened the prison doors. The docu-
ment which sets the swindlers free states
that the said John Flemming and Frank L.
LOring bad been found guilty OF using the
United States mails for fraudulent purposes,
and had been sentenced by the United States
district court Of Illinois 10 pay fine OF $500
each aud costs. amounting 10 5000 each, and
to Twelve months Imprisonment in the
county jail, but in consideration OF
the fact that the presiding judge
Of said court as well as many
other responsible citizens Of said district had
recommended them to mercy, he would or
der that they be released from custody.
Flemming andLOring had about seven months
more 10 serve in order ~ ili out the years
Imprisonment. Their term Of imprisonment
should have begun on December last, but
they succeeded, through legal bubbles, in
eluding the jail until June last. AT the time
Of their trial and conviction the public YER
dict was that they had escaped with very
light punishment and great surprise was ex-
pressed last evening by all who heard of
their pardon.
The gigantic swindle for which these IN en-
were sentenced 10 jail was the mutual CO.
operative "Fuud VIZ scheme, by which
thousands of farmers, mechanics and others
all over the country we're robbed Of their
earnings in 1852 So. FIemming and Lor-
ing, in cooperation with number Of other
persons, some Of them alleged brokers and
commission men. organized company for
the ostensible purpose Of investing money in
stocks and provisions for persons outside of
the city.
Flemming & Merriam was the name Of the
firm which controlled Fund w" r. Z.
Kendall * CO., Chas. j. Henric
81 Co., Cudworth 81 Co., and Ben
nett, Kazman IL Co. were other
firm names which were used by the crowd.
They flooded the country with handsomely
engraved circulars, containing beautiful
cut Of the new board Of trade building aud
representing that the firm was a member and
had exceptional chances for coming great
wealth. The scheme worked well and money
pouredin from all parts of the United States
and Canada. A few small investors in a
town would be returned large profits for their
money as bait. Almost universally a food
of money followed from that town.
The testimony disclosed that the scheme
was bare-faced swindle, that no invest
ments were made, but that the money was
c0olly pOcketed. 1t is said that over $500, 900
was stolen in this way in less than twelve
months. Emery Storrs was counsel for the
Lake, who was the prosecutor Of Flemming
and Loring, said to the GLOBE reporter:
81 was surprised to learn from the news
papers that these prisoners had been par
doDed by the president. There was not the
shadow Of doubt that they were guilty. If
bad not been confident Of it / should not
have prosecuted. There is no doubt in my
mind that they obtained hundreds of thous-
ands OF dollars by fraud. Their sentence
was remarkably light, too"
'Was petition for their release presented
20 yOui''
'No, sir; it would have been
good taste TO do so. at any rate.
/ supposed that it had been seen
by Mr. Tuthill, but just saw him on the
street and he said he had not even heard Of
a petition for their pardon. II never was re-
ferred TO his OfIiee.
''What do you think OF the presidents pol
icy Of pardoning convicted swindlersf'
''Mr Lake shrugged his shoulders, spread
out his hands aud elucked with his tongue -
That's for the people to decide, but then
I
clare, ifs enough to discourage any prosecu-
tor. The bigger the thief the greater the
sympathy. / recalled one case of most out
ragious swindling through the mails, where
many county official, county commissioners,
and the mayor, city prosecutor, and every
official in the custom house signed petition
for bis pardon because they knew his father,
who was q prominent lawyer Even the
county judge wrote me personal letter
| about the cases.