The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1899-12-13
IILLER'S MANY VICTIMS.
Extent Of the Operations Of the
Franklin Syndicate Of Brooklyn
GREATEST SWNDLE OF DECADE.

IL, Per Cent. a Week Brought In Mill
hens In Two Years-nIushroon Growth
Of the Concsrn-People From All Over
tho Country Invested Their Savings
Remarkable Exhibition OF Confidence.
Ekv YORK CITY (speciaD.-Louis b. Mil
Ber, tho brother Of William F. Miller who
managed the Franklin Syndicate which
guaranteed $50 per cent. year on ALL in
res:ments intrusted to its care, was ar
yaigned in Brooklyn and charged with the
sarceny Of $500 belonging to deposltors in
the syndicate. He was held In $1,000 bail
ser a further hearing, and in default Of bail
was sent to Raymond Street Jail.
The wooers OF tho flckle goddess who
Rad boon showering their savings on WILL
fam r. Miller took alarm only when the
bactual news OF the collapse OF the venture
Heacbed them. Telegrams have poured in
On the Brooklyn Postofflce from all Sec
aions Of the country stopping payment ON
money orders and asking that registered
3otters be not delivered to Miller. These
kilograms indicate that his business reached
Into nearly every State in the Union.
/ When the Franklin Syndicate was started
Miller only had one room In house In
Williamsburg. He began In a small way
nearly two years ago. He promised to pay
ten per cent. dividends, and very little
capital was needed after his business was
started. So long as tho receipts from de-
positors exceeded the amount OF money ne
had to pay cut In dividends he was per-
sostly safe and could keep the thing going.
, He got hold OF mailing lists giving the
names OF employees In large factory towns
and sent circulars. Naturally each GUS
homer he got became an agent OF his, be-
.ause he offered five per cent. interest on
hi now business. He has always paid his
sividsnds and kept the confidence OF his
patrons Thus his business, after 1t once
got fairly started, rolled along like snow
ball. increasing in size as It went. It ran
kseii.
! Miller moved into the house No. IA
lloyd street last spring. BY June his OPP
srations had grown to tremendous proper
tIons. His press agent, Cecil Leslie, wrote
'aIiuring circulars and advertisements for
him, and he branched out on much moro
extensive scale. He advertised bis plan OF
paying ten per cent. dividends each week
III over the country.
The impression Of the police and. in fact,
Of all who have Investigated the Franklin
Syndicate is that the syndicate rs such
Bsvsr earned dollar In Wall street, and
that the dividends, as they became due,
were actually taken from tho daily de-
yosits.
1t is believed by persons who worked in
tho offlce, and have good means OF know
tnK, that the number Of persons on the
mailing list who were receiving drafts for
their dividends by mail was nearly 20 600.
or course, 1t was necessary, In order to
continue paying these dividends, that tho
receipts should be enormous. ..I..~,
1t IS quite likely that Miller has disburssd
IN dividends ut least half the total am ount
that he has taken in. The total amount OF
money that has passed into the house will
reach into millions. $50 Tar as can be as.
sertained no depositor has failed to receive
his dividends until within the last week OF
Doing business. ....
Thus every Investor In the Franklin Syn
dicate who opened his account ten weeks
ago has drawn out his money. The only
losers and actual dupes are those who have
deposited Within the last ten weeks, and,
Of course, the more rect ntly their deposits
WsTo made the larger Is their loss.
From Blnghamton comes the news that
Two ]sboring men had mortgaged their
houses, one for $500 and the other for
$500. and put the money into the "syndi-
este."~ It IS estimated that $4,000 OF Blng-
Aamton money Is tied up in Floyd street.
Cincinnati got hit pretty hard, the
traders In the bucket shops being tho
heaviest investors. Several Cincinnati
kFokers have asked their New York corre-
Bpc.Aents to look after the interests OF Gin
elpnatians who were heeced. 80,
Central Ohio got an especially heavy
tose. At Woodcock nearly every
sdult person in the village had be-
como a speculator and invested every
dollar that could be got together.
In three or four weeks time not less than
t8O00 was sent from there to Miller In the
Aope OF receiving 500 per cent. per year re-
turns On tho Investment. In the same time
not less thnn $4,000 has been sent to the con-
san from Urbana City. The craze became
general and everything else had to give
way to It.
Canton, Ohio, sends the news that fully
1oo victims live' in Canton and nearby
country territory. Most Of the investors
IN the scheme were shop workers, though
there were q number OF instances where
poor women sent several hundred dollars
70 the syndicate