Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1897-01-04
BIG FORTUNE IN STAMPS.
over $l25, 900 Tied 10 in the Co
lumbar Issue of Postage
Stamps.

Several hundred circulars have been
sent to prominent banking and business
houses throughout the city announcing
the sale of $50 Columbian stamps, I'M
used and in perfect condition. which
the owner would like to dispose of at
$1.75 each. The circular bears the name
of Albrecht Loewit, who is engaged IN
the fire insurance business at 21S East
Seventy-sixth street. Mr.. Loewit is also
a philatelist and member Of several
philatelic societies, both in this country
and in Germany.
A reporter called upon Mr.. LoeWit and
asked him how he was able to sell his
stamps at SO great reduction. Mr.
LoeWit left the room for few moments
and presently returned with box con-
tanning 1900 s. stamps. He had also
an equal number of So stamps, several
Of the denomination of 81 and So. as
we'll as a number of stamps valued at
less than 81 apiece, all of the Columbian
series.
Loewit told the following story: 1.-TWO
years ago a friend of mine whom ! had
known for a long time sold piece Of
property for $125,OO He was a
wealthy man, and desired to invest the
money he had received for the property
He asked my advice, and, being phila-
telist and believing that the Columbian
stamps would in a few years realize q
big profit if sold to dealers, | advised
him to use the money for the purchase
of Columbian stamps. He took the adj
vice, and agents were sent to all the the
prominent cities in the country with
orders to buy up all the stamps in the
several postofices.
Stamps to the value Of $685. were
brought to New York, and articles soon
began to appear in the newspapers COM
menting Oh the scarcity of stamps of the
new issue. 1t was our purpose to hold
the stamps until there should be great
er demand for them, when we intended
to sell them at a great profit. We sup
posed that they could be sold to the gov
eminent at any time, and were under
the impression until the death of my
friend several months ago. 1t was then
found that the stamps could not be sold
to the postoffice authorities, and it be-
came a problem what to do with them.
/ succeeded in selling some to collectors,
and, being well known to philatelists
through my connection with philatelic
societies, was able to dispose of several
hundred more.
In attempts to sell the stamps to
bankers, | have several times been shad-
owed by detectives, who wanted to know
whether | hadn't stolen them. | have
handed the detectives my business cards
in such cases, but have never heard from
them again. By this time / have been
able to sell ali but $4,000 worth of the
stamps in three months. and as some
have been sold at premium, I have
made nearly the amount of the original
investment. This | have handed to the
widow of my friend. and shall do moth
ing until | have sold the rest and salts
fed the claim which [ feel she has against
me for advising her husband to make the
investment. Most of the stamps are kept
for me by trust company down town, as
fear to keep them in the house,
All efforts to induce Mr.. Loewit to
mention the name of the friend were I'M
availing. He said emphatically that he
felt himself bound to secrecy on the wild
owls account.-New York Tribune.