Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1889-03-15
POSTS PLAUsrBILIrY.
Some Surprising Developments in HIs
Great swindllng Game.

CHICAGO Mach 14-A local paper
speaking Of the disappearance and alleged
swindling operations of Alfred W. Post, in
connection with his Western Freigh;
Claim Bureau scheme, says the magnitude
of the fraud grows as the details come tc
light.
The more one hears about Mr.. Post the
more he becomes impressed with the fell
lows monumental cheek. His equal was
never known in Chicago, and young Mr..
Ward, of New York, is no comparison.
Posts stock in trade was composed of a
liberal supply Of selfassuIance and an
oily, plausible tongue.
There is however, a striking similarity
in the methods by which both Mr.. Pos,
and Mr.. Ward feeced their victims, SO
much so, in fact, that there is a suspicion
that they may have been educated in the
same school of finance. Both seem to have
grasped the same idea of how to get rich
easily and to have worked it for all it was
worth. The formula was to throw out
great inducements in the shape of unprece-
dented profits, get shrewd business men 10
place suIos of money in their hands for in
vestmeD' lead their willing victims on by
occasionally declaring enormous dividends
and, when they had bled them to the last
cent, toss them overheard.
Many additional facts have come to
light, and it is said that the Western
Freight Claim Bureau was far greater
swindle than was the famous Ferd Ward
scheme. 1t is also clearly indicated that
the victims are not confined to Chicago,
but are scattered by hundreds all over the
East, aud that from them Mr. Post plucked
considerable fortune. What is most sur
prising is the fact that the biggest victim
OF Mr.. Posts swindling game is one of the
shrewdest and richest capitalists in Chi
cagO, a man who is rated above all others
for his keen perception Of business frauds
and whose sagacity has never before been
brought i1to question. He is no other
than Albert A. Munger, of the grain eleva
tor firm Of Munger, Wheeler d Co, several
times millionaire, and whose income
amounts to nearly $500, 0O0 year.
At first Mr.. Munger only volunteered
small amount, but when, it is said, at the
end OF thirty days he received 10 per cent
dividends, he doubled and then trebled
the investment, and then kept putting in
until Mr. Post had SIS, 1000 of his money.
At last, when gu investigation was started
and an exposure was threatened, Post de-
manded $50 600 in lump with which to
close the mouths of small fry victims, and
Munger Is said to have planked it down
without murmur. Even then be did not
suspect Post of being scOundrel, and it
wss not until a few weeks ago that be
realized the full extent of the deception
that had been racticed on him.
When Munger's eyes were fully opened
he demanded the return of the money,
and Post, realizing that he mad run to the
end of HE string, suddenly disappeared.
So far the only victim who has resorted to
the law for redress, is F. d. Helmer, man
sger of the Vacuum Oil Company. His
investment amounted to about $1,000,
but. besides turning in his cash to Poet, he
rendered him an inoalculable service by
acting a. a reference for the Western
Freight Calm Bureau.