Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1899-12-15
A NAPOLEON OF FINANCE
Said TO Have Spent 100000 on His
Home in Orange, n. j.

Years. imprisonment In Boston 10
Years Ago.
A Napoleon of finance has found his
Waterloo at Newark, n. j. Like Miller
of syndicate fame Of New York he offered
great returns to those who entrusted their
money to him. Unlike Miller, however,
he ddnot get away, but is now United
States prisoner in the Essex county jail
because he could not give bail ia SlO,OOO,
nor even in $1,000 when 1t was reduced TO
that figure.
The new Napoleon is Osmer w. Roper,
90, and he has been living with his wife
and children in a home in South l7th
street, Orange, n. j., on which he is said
TO have spent 100000
Roper fitted up offices in the London,
Liverpool and Globe building at Newark
three or four years ago. There he organ
lied the Realty Loan and Trust company
and the Realty Corporation company. de
installed typewrters and clerks and began
operations by sending out letters and cir
culars TO lawyers, real estate dealers and
others, in which he announced his readi-
ness to loan money at low rates of interest
upon improved real estate or property which
was likely to be improved, much on the
plan of building and loan associations. He
requested the recipients of his circulars
TO let his business be known TO others, and
soon he began to reap the reward of his In
dustry.
Application for loans began TO pour in
upon him. As president of the Realty
Corporation Of New Jersey he turned the
letters over to the Realty Loan and Trust
company. As president Of the latter he
caused to be sent to the applicant letters
telling them to send in $40 fee for APP
praisement and a fee for a search, in &C
cordance with the amount of the loan de-
clded. This money, amounting In all
to from $25 TO $75, was invariably sent in
by prospective customers, who were noti-
fed that before receiving the loan they
must send to Roper five per cent of the
amount Of the loan, and then must take
chance in an auction of other bidders for
priority Of the loan.
The customer, few days later, would
be notified that he had failed in the bid
ding, and that the money on hand had
been loaned to some one else. He was
also invited to bid again, but was told that
before he could do so he would have to
send to Roper another five per cent of the
amount of the loan he expected. With
from S25 TO 500 of their money in Roper's
hands, which they did not care to lose,
the victims invariably sent the second five
per cent, and met with the same expert
ence the second time. Some of them
stuck TO il and made third trial, but
most Of them retired after paying Roper
the second five per cent. He then in
formed them that they were merely sub
scribers TO his concern and II they did not
like it they could withdraw at any time.
Before they could get any money, however,
they had TO give Roper II months notice.
At the end of year, it is alleged, they
were given 10 or 10 per cent of the install
ments which they had paid on the amounts
they had expected TO borrow, but none Of
their appraisement or search fees were re-
turned.
When business was booming In the first
two corporations which he organized Ro-
per formed two more. He called them the
Realty Loan and Title company and the
-Four Per Cent Mortgage company. He
used them, II is alleged, in exactly the
same manner as he did the other two con-
| Germs, making large sums on the lapses
and fees.
Some of the customers began to COM
plain recently, and the postal authorities
made an investigation. They soon had
so sworn complaints against Roper, and
more than 100 other persons ready TO make
more complaints. They charge Roper
! with fraud.
The two federal officers went to his Of
fees Monday and arrested Roper. His
check book, four mail bags, full of letters,
papers, books and stationery, which he
used in his business, were gathered up.
More than 1000 letters containing applica-
| lions for loans we're found. Many of them
contained money in sums of $40 10 SIS.
These will be returned to the writers.
Roper was taken before United States
Commissioner Whitehead. He could not
furnish bail, and was taken to jail to
await further examination.
Among all the books and papers found
| in Roper's Office there was no record of a
single loan made by him. Some of the re-
ports state that Roper's transactions may
have amounted to a million dollars.
Roper was formerly president and man
ager of building and loan association in
Jersey City. He was arrested on charge
Of fraud, but escaped punishment. Roper
was arrested in Boston In 1885, where he
carried on a fraudulent commission bust
ness. he victimized many farmers
throughout New England, including a
number of Vermonters. He served a
bcIu VI tuicc years imprisonment.
When Roper was interviewed Tuesday
he did not seem alarmed over his arrest.
! he claimed that he was prepared to carry
out all contracts he had made. He admit
ted that he had served time in Massachu-
sets, but claimed he was the victim of a
conspiracy. He said In regard to his arrest
In Jersey City, several years ago, that he
got into trouble there owing to the misrep-
reservations of one of his agents. When
Roper was arrested in Jersey City in 1894
he was sentenced to three years in prison,
but he was released after Is months, imme-
diately after the death of the man who
had made the charge against him.
81 have been nearly year working on
this case" said Post Office Inspector Snow
yesterday. "The extent Of this mans op-
erations is astounding His mail matter
amounted TO many hundred letters day.
They came addressed to all the different
concerns he operated under. Among the
things we seized in his Broad street Office
were about 1000 letters. Some of them
contained applications for loans; many
contained money; some consisted of com
| plants from exasperated victims. | am
In possession of evidence, however, that
convinces me that the income from the
various schemes ran up to hundreds of
thousands of dollars a year, and that the
total income amounted to Millions" The
talk about millions is undoubtedly an ex-
aggeratiOn. The New York Herald of We'd
| nesdaV said RODRr had nrOhahlv recaivad