Peninsula enterprise. [volume] (Accomac, Va.) 1881-1965, 1899-12-02
A BUBBLE BURSTED.
Warrants Out For the Arrest Of
Napoleon of Finance" Miller.
THE oREDULITY OF AMERICANS

AS Shown by the Manner In Which
They Poured Money Into the Cofiers
OF tho Franklin syndicate, Which
Promised Fabulous Interest.
Brooklyn, Nov. Civilian F.
Miller. head Of the Franklin syndicate,
which has accepted the deposits of
thousands OF persons under promise OF
paying dividends OF 10 per cent a
week, or go FER cent per annum, and
Cecil Leslie. his secretary. were i'll
dicted by the Kings county grand jury
last Friday. Bench warrants were is
sued for the arrest OF these two men,
but they have decampcd. Police think
they are in hiding somewhere about
New York. and say they cannot elude
capture.
Friday night the police raided the
premises occupied by the syndi-
cate, on Floyd street. There was a
great crowd of people around the build
ing, and the police surrounded 1t. In
spector Brennan arrested Louis Miller,
brother of the head Of the syndicate.
and the cashier Of the concern. and
took possession Of $4,000 in cash.
There were 40 employees engaged at
work In the offices. and these were al
lowed to go. II was stated by Louis
Miller to the police that the Offices
were then in the hands of eX-Sherifr
Daley, of Richmond. to whom, he
said. the concern had assigned.
Miller has been advertising literally,
and his victims are In all parts of the
country. The money poured In so
rapidly that barrels were brought up
from the cellar to hold the cash.
It is said that within the last week
Miller had received deposits of hum
dreds of people, aggregating daily
amount from $4,000 to $4,000. 1t is
easy to see under these circumstances
how the Franklin syndicate could
readily pay out 10 per cent OF this
amount week and still make money
The extensive operations of the
Franklin syndicate and eXhaustless
credulity of the American people are
shown by the number Of dividend
drafts which are held by the different
city banks. These drafts were sent
through the mails by Miller to sub"
scribers living at distant points. and
they deposited them in their local
banks for collection. The local banks
In turn sent them to the New York
banks, which act as their agents here
These drafts arrived on Saturday.
Many more are expected this week.
AS the syndicate has assigned, the
drafts will be returned to their dupes.
The National City bank alone has
about 200 of the drafts. sent here by
banks In Allegheny. Pa. Portland. Me,
Elsie, Ills. Armenia. N. Y, Grand
Lodge. Mich, Fitchburg. Mass. Wheel
ing, w. Va, Urbana. O.. Elizabeth N.
T., and two score OF other towns. Other
banks also have Miller drafts sent TO
them from out of town.
A vast crowd of furious men and wo-
men surged about the closed headquar-
tiers of the syndicate. The men in the
crowd ragged and swore in excess of
! fury. The women were worse than the
men. They rayed and shrieked In I'M
potent rage Most of them cursed the
authorities rather than Miller and de-
clared that the man was prosecuted and
bounded by those who were jealous
of mis- success It was altogether a
vivid exempliication Of the credulity
and fickleness of humanity.
The following will show Miller's win
nings: Total receipts or deposits. s1O.-
600 per day for $50 days, 100000
Paid out in dividends. estimated, $780,
/ 900. Recovered by police. $500. Elk
penses of office. advertising. etc, $780,
600. Money now in Miller's hands.
| 1871, 500.