The morning news., 1889-03-15
POSTS MONUMENTAL CHEEK.
The Story of the Western Freight
Claim Bureau Scheme

Claim Bureau scheme.
CHICAGO, March IA morning paper,
speaking If the disappearance and alleged
swindling operations of Alfred w. Posi- in
connection with his western freight claim
bureau scheme, says the magnitude of the
fraud grows as the details come to light,
The account continues:
The more one hears about Post the more
he becomes impressed with the fellows
monumental cheek His equal was never
known in Chicago and young Ward of
| New York is no comparison. Posts stock
in trade wss composed Of a liberal supply
of self assurance and an oily, plausible
| tongue.
REMINDS ONE OF WARD.
There is, however, a striking similarity
in the methods by which both Post and
Ward fieeced their victims, so much so, in
fact, that there is a suspicion that they
NAV have been educated in the same school
of finance Both seemed to have grasped
the same idea Of how to get rich easily and
to have worked it for all it was worth.
POSTS FORMULA.
The formula was to throw out great in
| ducements in the shape of unprecedented
profits, get shrewd business men to place
shares Of money in tleir hand for invest
ment, lead their willing victims on by oc-
casOually declaring enormous dividends,
and when they had bled them to the last
cent finally toss them overheard. Many
additional facts came to light yesterday,
and it is said that the western freight claim
bureau was "a far greater swlndle than was
the famous fund"
GREENIEs NOT THE ONLY ONES CAUGHT.
1t also clearly Indicated that tho victims
are not conf led to Chicago, but are scat
tered by hundreds all over the east, and ia At
from them Post pluck d considerable for
tune. But what is most surprising is the
| fact that the biggest victim of POSTS swim
ding game is one OF the shrewdest and rich-
est capitalists in Chicago, man who was
noted above all others for his keen t.ercep-
tion of business frauds, and whose sagaciry
has never before been brought into ques-
tion. He is no other than Albert A Mum
ger, cf the grain elevator firm of Munger,
Wheeler a. Co, several times millionaire.
and whose income amounts to nearly $780,
090 year.
GOT IN FOR SIS, ,OO0
At first Munger only ventured a small
amount, but when, it is said, at the end Of
thi rty days be received 15 per cent. divi-
dends he doubled and then trebled the in
vestment, and kept putting in until Post
had $780, 900 of his money. AT last, when an
investigation was started and an exposure
was threatened, Post demanded $1,000 in a
lump with which to close the mouths of
small fry victims, and Munger is said to
have planked it down without a murmur.
Even then he did not suspect Post of beir (
a scoundrel, and it was not until a few
weeks ago that he realized the fun extent of
the deception that had been practiced on
him.
POST TAKES WINGS.
When his eyes were fully opened he de-
manded the return of his money, and Post,
realizing that he had run to the end of his
string, suddenly disappeared. So far the
only victim who has resorted to law for
redress is S. d. Helmer, manager of the
Vacuum Oil Company. His Investment
amounted to but $4,000, but besides turn
ing in his cash to Post, he rendered him al
incalculable service by acting as a reference
for the western freight claim bureau.