Arizona republican., 1899-12-18
LOANS AT LOW RATES
President of Three Concerns Arrested
for Misusing the Mails.

New York, Dec. 17.-Postoffice In
spector w. b. Snow and Deputy United
States Marshal John J. Gars.de, visited
rooms 81 and S5 in the London and
Liverpool and Globe building in New
ark yesterday and arrested Osmer w.
Roper, president of the Realty Loan
and Trust company, the Realty Corpo-
ration company of New Jersey and the
Four Per Cent Mortgage company for
misuse of the mails. Roper lives in a
fine house in South Seventeenth street,
East Orange, and it is said that he has
made nearly one hundred thousand dol
lars in two or three years.
When arrested he became nervous
ara appeared anxious to save his
checkboOk, but it was taken from him
and placed with four mailbags full of
papers and books which the inspector
secured. Two women stenographers
and two assistants in the office were
permitted to go after the place was
stripped.
Roper telephoned to his family that
an important engagement would keep
him from home an indefinite time. He
had been told by Deputy Marshal Gar
side that Commissioner Whitehead
had decided upon $4,000 bail, but later
the bail was reduced to $1,000. He
went to Jail. There are fifty complaints
against him and the officials say that
100 more could easily be procured, and
will probably come in voluntarily after
the exposure.
Roper as president of the Realty
corporation, sent out letters and cir
culars to lawyers and real estate deal
ers Offering loans at a low rate of in
terest and asking them to interest
themselves in getting an outlet for the
large sums he had at his command.
When an application came for a loan
would be necessary to send a fee of SO
for appraisement and a fixed amount
for searching titles. This being COM
piled with the applicant was told that
he must subscribe for shares in the
Realty Loan and Trust company to
the extent of per cent of the amount
he desired to borrow and bid for loan.
Within a reasonable time he would get
a notice that at the last apportionment
he was outbidden for the loan and that
it would be necessary to bid again and
pay an additional per cent. When the
victim expostulated he was informed
that he was a subscriber, but could
withdraw by giving twelve months no
tice and would receive a certain per
cent of the money expended. At this
point most of the subscribers became
disgusted and relinquished the quest.
Roper, it is said, made money not only
upon the lapses, but upon the fees, and
it is said that he has never made
real loan in all the time that he has
been in business.
Before going to Newark, Roper was
connected with a mutual building and
Newark officials say that he was
locked up there and obtained his re-
lease through the death Of a witness.
They say also that he was locked up
for three years in Charleston, Mass,
for conducting a fraudulent commits
sion business. In the present instance
the postal authorities have secured
over 1000 letters from applicants for
loans and a mass of records and blank
stationery. The letters coming in with
money will be returned to the senders.
Roper had a third company in New
ark, called the Four Per Cent Mort
gage company and it is said that he
used it in connection with the other
companies until he had drawn it dry
Then he unloaded upon somebody else.
In his loan companies he had other
names associated with him, but the
authorities would not give them out
yesterday.