The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-03-15
POSTS SWINDLING SCHEME.
Investigation Shows that the Harvest Will
Be Much Larger than First Reported.

CHICAGO, March IA morning paper,
speaking of the disappearance and alleged
swindling operations of Alfred w. Post in
connection with his Western frelght-claim
bureau scheme. says the magnitude of the
fraud grows as the details come to light.
The account continues: "The more one
hears about Mr.. Post, the more he becomes
impressed with the fellows monumental
cheek. His equal was never known in Chi
cago, and young Mr.. Ward, of New York, is
no comparison. Posts stock in trade was
composed of a liberal supply of self-assur-
ance and an oily, plausible tongue. There
is, however, a striking similarity in the
methods by which both Mr.. Post and Mr..
Ward fieeced 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 1t for all it was worth. The
formula vast throw out great inducements
In the shape of unprecedented profits,
get shrewd business men to place sums of
money in their hands for investment. lead
their willing victims on by occasionally de-
claring 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 far greater swindle than was the fa-
nous fund W. scheme. 1t is also clearly
indicated 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. But
what is most surprising is the fact that the
biggest victim of Mr.. Posts swindling
game is one of the shrewdest and
richest capitalists In Chicago. q man
who is noted above all others
for his keen perception of business frauds,
and whose sagacity has never before been
brought into question. This Is no other
than Albert A. Munger of the grain eleya-
tor firm of Munger. Wheeler & Co., several
times a millionaire, and whose income
amounts TO nearly $4,000 year. At first.
Mr.. Munger only ventured a small amount,
but, when, 1T is said. at the end of thirty
days, he received 10 per cent. dividends, he
doubled and then trebled the investment,
and kept putting in until Mr.. Post had S75,-
200 of his money. At last. when an investi-
cation was started and an exposure was
threatened, Post demanded $4,000 in
lump with which to close the mouths of
have planked IL down without murmur.
Even then he did not suspect Post of being
a scoundrel, and 1t was not until few
weeks ago that he realized the full extent of
the deception that had been practiced on
him. When his eyes were fully opened he
demanded 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 the law for
redress is F. ID. Helmer, manager of the
Vacuum Oil Company. HIS Investment
amounted to but 1000, but, besides turn
ing in his cash to Post, he rendered him an
incalcuI able service by acting as q refer
ence for the Western Freight claim Bu-
reau.r
The same paper comments on the amount
OF Jewelry and ready cash which the young
woman employed by Post in the capacity
OF typewriter was wont to display, and
notes that she also disappeared short time
ago.