The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1889-03-15
ANOTHER NAPOLEON or FINANCE.
Like Ferdinand Ward, He Mas
Reached His Waterloo.
He Ran a Freight Claim Bureau
In Chicago,
And Lived at an Expense Of Twenty
Thousand Year.

CHICAGO, March 14.-A morning paper
referring to the disappearance and syind-
ling operations Of Alfred w. Post In connec-
tion with his Western freight claim bureau
scheme, says the magnitude Of the fraud
grows as the details come TO light, and the
more one hears about Mr.. Post the more he
becomes impressed with the fellows monu-
mental cheek. His equal was never known
in Chicago, and young Mr.. Ward Of New
York Is no comparison. Many additional
facts came to light yesterday clearly indl-
eating that the victims are not confined to
Chicago, but are scattered by hundreds all
over the East and that from them Mr.. Post
plucked considerable fortune. The biggest
victim is Albert A. Munger, the millionaire,
one Of the shrewdest capitalists IN Chicago.
and man noted above all others for his
keen perception Of business frauds, and
whose sagacity has never before been
brought into question. first Mr. Manager
only ventured small amount, but when. Il
Is said, at the end Of 20 days he received IS
per cent dividends, he doubled and then
trebled the investment, and kept putting In
until Mr.. Post had $4,000 OfIhs money At
last, when an investigation was started and
an exposure was threatened, Post demanded
$4,000 In lump with which TO close the
mouths Of small fry victims, and Munger
planked IL down without murmur Even
then he did not suspect Post Of teing a
seoundrel, and Il was not until recently that
he realized the full extent Of the deception
that had been practiced on him.
Post came to Chicago about 1--WE years ago
and obtained employment in the freight
claim department Of the Chicago, Burlington
Il Quincy railway He was discharged In
1886 and then conceived the idea Of starting
the claim bureau. His intention was to buy
mn Qlafna AGAINST the rafIroaH fas
Every road has a freight claim department
where claims Of from $3.50 600 10 S1,O00.OO0
Tor rebate on excess charges or damaged
freight are presented each year. Posts Idea
was that he could buy up these claims at
perhaps from 25 TO 30 cents on the dollar,
and, knowing the railroad business better
than the claimants, get them cashed and
realize handsomely. He formed copartner-
ship with man named Charles Blcknell.
Posts plan for making money proved fail
number Of moneyed men. He would
have mutual friend call on a capitalist and
Invite him to invest in the bureau, which, Ii
was represented, i presented, would pay i5 Per cent
Michigan-ayenue and kept a stable second %
none In the city. The fact Of his disappear
ance was made known when attachments on
his stable and other property In this city
were sworn out Monday evening by Sanford
q Cook, diamond brokers Of New York, OF
whom 1t Is said Post has obtained 5000 In
jewelry. Mrs. Post was preparing TO leave
the city on Monday night when the attach
ments were served
The value Of Posts horses was estimated
at $4,000 His living expenses could not
have been less than $4,000 year. In his
methods Of rising the wind, he seems 10 have
been q close follower Of Ferdinand Ward, Of
New York. Paul Morton, general freight
agent Of the Burlington, said:
Mine years ago Post came to Chicago and
entered into our employ in the claim Office Of
the Burlington. His father was employed
by the New York Central railroad, and Post
himself seemed to be well acquainted with
number Of New York Central officials. / re-
member they used 10 extend 10 him the cour-
tesies Of their road, both for himself and his
friends. Post was not man to be trusted.
l did not trust him, nor ever could trust him.
have always been outspoken when asked
by my friends as to this man. l think that
at least half Ia dozen different men have
asked me about Post and his general reputa-
| ton and character. have always advised
| them to have nothing 10 do with him. He
was about year In the claim Office OF the
/ % company under my charge"