The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-11-25
WAS A GLITTERING SWINDLE.
(Continued from First Paee)

est dreams of the South Sea Bubble the
United states postal department had its
framed investigators al work trying to
eaten Miller and his assistants, but Ia
vain.
DR.. Meredith of Brooklyn. former nas-
Tor OF Mlller's, complained to the Brook
iyh police that the man was running half
the young men of his congregation. The
ponce offclal to whom Dr.. Meredith COM
canned Is said 10 have told the reporters
4nNSsuSating Miller and his operations:
you can catch Miller you will be the
smocthest man in this town. never saw
anything ike it. l have investigated the
complaint made by Miller's former pastor
lot Miller had been expelled from the
chufch TO which he belonged and l find
that MS statement that half of the young
men and half the Young women IN rho
congregation are in the Franklin syndicate
Is true. But not one can I find who is
"lihng to make a complaint against the
man or his methods. Would you make
a complaint yourself if you were getting
the IL per cent. week for Miller certain
~ pays II out every week according TO
the promise contained in his contract"
besldes, continued the police official
Don't know that / would be able 10
DIlhs about the arrest of the man, provid-
ca ala get complaint. Most of my
patrolmen, my inspectors and detectives
seem to be In it, and l am thinking seri-
cusly OF going in it next week myself
he concluded with laugh
How Profits Were SvveIIed.
The 10 per cent a week, or $40 per
cent. year, as guaranteed by Miller did
not begin in realty to represent the obli-
cations incurred by the head of the Frank
lin syndicate The rate of 500 per cent. a
year Is on basis of simple clerical work
But nine-tenths OF his patrons affected by
the money-mal1ing fever were in the habit
OF turning around and reinvesting the 10
per cent interest, or, in other words py-r-
amlding their gains. This sWelled their
operations from simple interest 90 real
compound interest One of Miiler's
patrons who invested $780, Immediately
turned round and invested the 10 per cent
allowed him at the end of the first week
making balance of $40 to his credit The
next week he received interest on both
principal ard interest, thus giving him
balance to his credit of S12l AT the end
of twenty-five weeks, or a little less than
SIX months, he found himself with cred
1t IN the Franklin syndicate, Of 81 029 AL
OF this from the original investment of
$780,
lnasmuch as Miller absolutely refused
TO carry accounts of more than $1,000, this
customer was compelled to reinvest in the
names of other members of his family
AT the time of Miller's arrest he said that
he had over So, 900 in the syndicate, all from
the original investment of 800.
This policy of reinvesung in the name
of other members of the family was car
ried on 10 large extent among the poorer
classes in Brooklyn.
Miller claims to make his abnormal
profits through speculation in Wall street.
though no evidence is Forthcoming up to
the present time to show that he ever
speculated in stocks to any extent. His
clerks and employees, from time 10 time,
threw out vague hints of inside informa-
ton which Miller, they alleged, possessed
SaidCtO BE Over $4,OO0,OOO.
On Tuesday of this week, just before
charges of libel were preferred against
Miller, he said to have taken in $50 900 and
paid out 81, 600. The confidential repre-
sentative of one of the banks who visited
Millers office about this time. said that
he never saw so much money scattered
around loose in his life. He said
it reminded one of the tales of Monte
Cristo and Monte Carlo combined, but
that as an absolute fact Miller did not
have facilities for taking care of all of
the gold and greenbacks which poured in
upon him and empty barrels were brought
up from the basement of &he building in
which he operated and thousands and tens
of thousands of dollars were dumped into
these barrels by the employees and clerks
employed by Miller in his establishment.
One of Miller's trusted employees is re-
sponsible for the statement that the
Franklin syndicate men had taken in over
$4,000 900. 1t is known that when the banks
shut down on him yesterday and refused
to accept his deposits any longer, he
withdrew $4,000 in the Wells Fargo Bank.
II is asserted tonight that Miller deposited
100000 with the German consul.
Miller who is a very young man, short,
slight and Insignificant in appearance,
possesses Two positive characteristics, his
personal magnetism and his frozen calm
ness.
still Have Confidence.
To show the confidence the people about
Brooklyn had in Mr.. Miller and syndicate
tonight, even after Miller had been
denounced in the most unmeasured terms,
a crowd of probably 1900 people were gath
cred about the building about O'Clock.
The doors of the office had been
closed at o'clock, but business was re-
sumed a few minutes before s O'Clock
The would-be depositors were formed In
q line by the police reaching down the
high stoop, and fully $50 feet Into the
street Business was carried on for thIr-
ty minutes. During that time fifty per-
sons deposited money, and not one drew
out This showed the confidence of Mr.
Miner's public in his rocket, although
at that very moment the stock was in the
act of falling Up to a late hour tonight,
Miller had not been found.