New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-03-23
MANY POOR PEOPLE SWINDLED.
SELLERS OF AUSTRIAN LOTTERY BONDS AR.
RESTED FOR DOUBLE-DEALING


Edward Horner, banker, who several months ago
was arrested for sending Austrian Government lottery
bonds through the mails, is again in trouble with the
police authorities On saturday with two confedcrates
he was arrested by Detectives Jacobs and Heidelberg
OF the Central Office staff a charge of conspiracy
and of obtaining money by false representation from
number of poor people. The OF his confedcr-
aes are Edmund Furst, fortyOnc years old, living ut
No 81 West Nineeenth-st., and Jacob Wanke thirty
seven years old, of No Ais East One-hundred- nj
twenty second-St lcrncr's present address was said
by him to be at No lo4 East Eighty ifth-st lie has
an Office at No. IS Walst.
on his release from custody several months ago
Horncr according to Inspector Byrncs tried to dispose
OF the Austrian lottery bonds. lie found considerable
difficulty in getting rid Of them. Finally he hit on
an ingenious plan which, worked out the necessary
skill and cunning, would enable him not only to sell
them, but realize handsome profit for himself Each
OF the bonds sent out by the Austrian Government
had face value OF $40 Attached to the bond a
coupon. This coupon entitled each holder OF win
ming number to large sum of money Instead OF
paying the usual interest on the bond, the Austrian
Government Jumped the entire amount OF interest
and at Il periodical drawing divided the total sum Of
money among the fortunate persons who had winning
numbers. In this provision lay the foundation OF Mr..
HOmer's scheme.
with the a.d Of Furst. Wanke and another man,
not yet arrested. he established number OF bogus
banking houses in various parts Of the city and sold
ese bonds the instalment plan, charging 800 for
each bond. When the customers, who for the most
part people in the umblest walks OF life, paid
their instruments they did not receive the bond.
Fulst and Wankc who had charge Of or other OF
the branch banks. gave the customer receipt or
certificate which showed that certain OF money
had been paid toward the purchase OF the bond
just as soon the greater part Of the nstllmcnts
had been paid. Furst or Wankc. representing them
selves the bankers, would tell the customers that
their business had been turned over to Homer with
whom all further transactions would have be
Quoted. Ny Homer, said Inspector l}yrncs. would
Ceve the customer with great savity and ask him 10
sign new contract which the customer. in most
cases, unable 10 read. HOrncr would then wait
until the remainder Of the 500 Lad been paid up,
when he would blandly tell the customer that all
Transactions with IlTst Wankc worthless
far he was concerned, and that lie Could only
he ASSUMED the management Of the business. Then
when nearly al OF the second 800 had been paid up.
HOrner, the bank and tie money disappeared 10
gcthcr
For five weeks Inspector Byrncs had detectives az
work the case. bat IL not until saturday that
they able to tho prisoners The ector
has the of lal number persons who have
been thus hcart!essly robbed, and among them are
PHILIP BOer, OF No. 40 Fast Fifty -nintlt.. who JSt
Mrs. Soaring. No. nG1 second ave. 500 Abram F!n
kelsOnc, Frederick JOhannesS'n and Charles Whitlock
At Jefferson Market Police Court YESTERDAY. Justice
Hogan rcmandcd the prisoners for further examination
Tuesday, and admitted them 10 bail In the sum Of
81 900 each.