The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-11-25
A REMARKABLE SYNDICATE
WORKINGS OF GREAT DITIDEND
PAYING BROOKLYN CONCERN.

WOhhlNtS OF GhG1I DlPlDEND IL
PAYING BROOKLYN CONCERN.
William f. Miller, the Head, and Cecil
Leslie, His Secretary, Indicted on
Charge of Conspiring to Defraud-
Hundreds of People Invested Their
Money With the Concern $4, 200, 900
Said to Have Been Taken In-OMces
Raided by Police Last Night and 81 81
900 in Cash Found-The Glittering In =
ducements In the Way OF Dividends.
New York, Nov. 24.-William F. Mil
Ter, head of the Franklin Syndicate,
which has accepted the deposits of
thousands of persons in Brooklyn I'M
der promise of paying dividends of 10
per cent. week or $40 per cent. per
annum, and Cecil Leslie, his secretary,
were indicted by the Kings county
grand jury this afternoon. Bench war
rants were issued for the arrest of
these two men, but up to quite late
hour tonight neither had been found,
the police saying that they had disap-
peared in the afternoon.
Tonight the police, under charge of
Captain Reynolds, chief of detectives
in Brooklyn, Inspector Brennan and
Police Captain Lee, raided the premises
occupied by the Franklin syndicate on
Floyd street, Brooklyn. There was a
great crowd of people around the place,
Iny,t fhA InI Ty,cn
Brennan arrested Louis Miller, brother
of the head of the syndicate and cashier
of the concern, and took possession of
$4,000 in cash. There were forty en-
ployes at work in the offices and these
were allowed to go. 1T was stated by
Louis Miller to the police that the Of
flee was then in the hands of exSheriff
DAILY of Richmond to whom, he said,
the concern had assigned.
The charge upon which Miller was in
dicted was that of conspiring to de-
fraud. The district attorneys office in
Brooklyn has been at work on the case
for some weeks. Miller had been en-
gagged for the past two years or so in
offering his glittering inducements to
the people to invest their money for him
to make use Of but it has been only
within the last month that by adver-
tising he has managed to attract to his
office daily hundreds of people who
gathered in a long line or fought with
each other for the opportunity to hand
out their savings. Even when the
place was raided tonight by the police
a number of those around the offices
were waiting to deposit money with the
Franklin syndicate.
The presence of the police caused
great excitement. When they entered
the offices James Daily, ex-sheriff of
Richmond county, to whom it was
claimed those concerned had assigned,
was put off the premises. DAILY has
been in the employ Of Miller for some
time past. Of the $4,000 taken possess
sion of by the police something more
than $4,000 in cash was found in the
syndicate offices. From the record
which the police had made of to-day's
deposits it was evident that a portion
the offices and Louis Miller was called
upon to make an explanation. He at
first refused, but on being threatened by
the police said that Miss Annie Cory, |
an employe of the concern, who lived in |
a house adjoining the offices, had been |
given the possession of a large sum of |
in the morning by the head of |
the firm The police went to the adj
joining house and placed Miss Cory un-
der arrest and after an extended search
they found nearly $4,000 concealed in an
old lounge in her apartments.
The woman then declared that she
had this money in her possession for
the purpose of paying the employees of
the syndicate. The police took posses
sion of the money and Miss Cory was
released Then general orders were sent
)ut and a search was instituted for
william e. Miller, head Of the syndi-
cate, and his secretary, Cecil Leslie.
William F. Miller began the Franklin
syndicate in a very small way, locating
mis- offices amongst the poorer classes
N Brooklyn and making one feature of
MS business the acceptance of very
small sums of the money and the al
eyed investment of them for poor peo-
Ole. He claimed that by inside tips on
he stock market he was able to reap
arge and quick profits, Of which he
vas willing to pay large percentage
% his clients. Seemingly he paid the
interest on the principal each week and
lis business increased. Within the past
ew months he advertised extensively
Ind in all parts of Brooklyn could be
ound people who could tell wonderful
stories of the weekly dividends. Then
'ome of the financial concerns in New
York began to look into the business of
he Franklin syndicate and not only did !!
many of the prominent financiers de-
lounce as preposterous the offer of 10
,er cent. interest on money invested,
nut some of the banks refused to ac-
ept Milier's account or to do business
With him. &
1t Is claimed that Miller was simply
he representative of a syndicate of !
nen who had been engaged in conduct c
ng blind pools for years 1t Is asserted i,
hat the idea of paying unusually high
ates Of interest or Fascinating dvi- c
ends originated with the blind pool V
roiect at Pittsburg several years ago i
lfter the failure of that concern SINH
ar operations were commenced in New
-orA city and vicinity by THE Dean Q
yndicate"/ Exposure and arrests re- l
ulted in scattering the members of f
his syndicate, but some of them it is
aIieved are still in New York. No