Peninsula enterprise. [volume] (Accomac, Va.) 1881-1965, 1899-12-16
4 -L0ANING COMPANY
Which Government officials De-
clare Is a Swindling Game.
INSPECTOR SHOWS STATEMENT

Declares That KOper's Scheme OF
Roping In Was Far and Away Bet
ter Thnn MIlier's Franklin Syndi-
cnte-Even Lawyers Taken In.
Newark, N. j.. Dec. 12.-Osmer w.
Roper, of this city, was arrested yes
terday by United States Marshal Gar
side, Postoffice Inspector w. B. Snow
and several deputies and committed
to Jail in default Of $4,000 bonds.
The charge was based upon an al
legation that he was using the mails
for swindling purposes. The authorl-
ties claim that his scheme was far
and away better than Miller's Franklin
syndicate, in that he took in plenty Of
money and seldom or never paid out
any except for running expenses. They
have so complaints drawn up against
him, and Say so more are filed, and
that they can get thousands of them
If needs be. The swindle, as they say
it was, has been in operation for three
years. Ropers business required a
large force of clerks, stenographers
and typewriters, and he did an enor-
nous mail business.
1t is claimed that Roper is the Realty
Corporation company Of New Jersey.
the Realty Loan and Trust Fund COM
pany, the Realty Loan and Title COM
pany and the Four Per Cent Mort
gage company The authorities say
the companies existed only on paper,
although regularly Incorporated, and
that in each Roper was the only per-
son concerned.
Inspector Snow says that Roper's
scheme was alluring, and that his vic
Tins are in every state in the nation
and embrace all classes. He says that
even churches and lawyers have been
taken in by Roper.
According to the inspector, who has
had personal charge of investigating
Roper's affairs, the four concerns were
worked in pairs. The inspector says
the Realty Corporation company sent
out alluriug circulars all over the
country. The stationery was most elab-
CRATE and so gotten up as to deceive
even business men, The body Of each
circular stated that the company was
in position to obtain for any person
with property loan Of any amount of
money at per cent, or even less.
When persons applied for loans they
were required to send fee Of $40 to
cover appraisement costs. Then 1t
was necessary to furnish certificate
of search from the Realty Land and
Title Fund, which would cost $40 to
$50 more, and then the loan would be
approved.
Then the victim would be informed
that the money was put up at auction
and loaned to the highest bidder and
more cash was demanded with the bids.
After the passing of the date when
the sale of the money was supposed
to take place the victim received a
note. The company was sorry, but
he had been outbid by others. and
every dollar sold had been disposed
Of at better rate than he had offered.
The name or names of those who were
supposed to have bought the money
were given The company would hold
the percentage paid in and bid the
same rate again unless the customer
wished to increase the amount he
would bid, in which event enough
money to make up the additional 5
per cent of the whole must be for
warded Usually this brought in some
more money.
This went on month after month
until the victim made demand for
the return of his money. He then
received blanks, which he had to fill
out. He would not get the fees back.
but percentage of the per cent de-
post would be returned. usually 10. 10
or 20 per cent. at the expiration of II
months, from the receipt of the blanks
and so on.
The inspectors say the applications
for loans ran into the thousands. and
that the profits to the prisoner have
been very great.