The Jersey City news., 1899-12-13
ROPER'S SCHEME.
It Meant Millions, But He
Was the Only One
Benefited.
MADE ST 900 ON ONE DEAL
His Circulars Were Calculated
to Dupe the Credu-
lous.
Especial to .The Jersey city News. y

NEW AtflA, Lee. 10, loS5-r uilei ths GO =
cation into the career of Osmer w. Roper
! who was arrested Monday for conducting
an extensive swindling scheme, shows
him to be remarkable man, marvelously
| skillful in the art of bunco. Roper ad-
mits he is an ex-convict. having served
in Charlestown, Mass, and in the Hudson
county penitentiary, for swindling.
When seen yesterday in the Jail Roper
did not appear much worried over his
predicament. He said:-sI am prepared to
carry out all the contracts I have made.
| Under the law of this State a building
and loan association cannot loan out more
than one-half the money in it's treasury.
Asked regarding his terms of imprison-
/ ment, he said
Both these cases can be explained
1 easily away. In Charlestown? Let's see;
! that was about fifteen years ago. | was
convicted of conspiracy but it was put
up game on me. and most outrageously
unjust, exactly as this is. l think. In the
case in Jersey City I had employed an
agent named Renshaw. who went through
Pennsylvania and misrepresented me en-
4 tirely.
"He swore I made claims for the com
pany which l never did make, and I was
arrested on his false testimony l would
never have been convicted finally on that
charge, for the case was appealed, but be-
fore the trial could come off, that son of
gun Renshaw died.
st has been said that I took in S100, 000
and more, 1 know, but since I've been
here don't think I have received 500 in
appraisal fees. We have lots Of good loans
out, have loaned all the money we could
and have even had to borrow it to do so.
don't know how many loans there are in
all, but I should say between twenty and
thirty"
AS means of obtaining a big return for
a small outlay, Roper's scheme rarely has
been paralleled, here or anywhere else
Az the Realty Corporation of New Jer-
sey he sent out circulars which scarcely
could fail to rope in the credulous. He
claimed the company had a capital stock
of $100, 900 and held in its own name choice
improved real estate in and about Newark
to the value of more than 100000. Here
Is a specimen proposition from one of the
circulars
The rent of a $1,000 house. on basis of
10 per cent gross per annum, is $25 per
month, which in 200 months amounts to
$1,000. The Building Loan Trust Fund will
buy you $1,000 home, payable as follows:
Two hundred equal monthly principal pay
ments of SIS each, So 900; 200 equal monthly
interest payments of 50 each, 1900; total,
S4,So0. Is it not better to pay $4,S00 and at
the end of 200 months own your home,
free and clear, than to pay So 900 in rent
and at the end of 200 months own nothing
but rent receipts?"
Here is another:-
''The interest on $4,000 mortgage at per
cent. per annum is SIS a month, which in
200 months, amounts to $4,000. Principal
which you will owe at the end of 200
months, $4,000 Total 5000 The Building
Loan Trust Fund will assume and pay off
a So, 900 mortgage and receive payments as
follows:-Two hundred equal monthly
principal payments of SIS each, $1,000; 200
equal monthly interest payments of So
each, s., 800. Total, s4,SO0 Is it not better
to pay s4,S00 and at the end of 200 months
to have your mortgage paid in full than
to pay $1,000 interest and that at the end
of 200 months still owe 50, ,000?"
Thousand of letters came in response to
these alluring propositions and Roper re-
ceived more mail than any other of the
numerous tenants of the Globe building.
It was about four years ago that he
started business here. Because of his
clever scheme of procrastination, obtain
ing sums at intervals from would-be bor
rowers, instead of in a lump and putting
them off with elaborate explanations and
cleverly constructed rules of the alleged
company he told them he represented, it
was not until several months ago THAT the
attention of the authorities was called to
the peculiar nature of his transactions
Then they began to watch him sharply
Complaints poured in. and after getting
over fifty of these in written form they
felt justified in making an arrest
One reason why Roper operated so long
is that he was clever enough to send his
circulars a long distance from Newark. A
few people who lived nearby did not fare
as badly as the rest of those who had
dealings with him, as they were within
striking distance, and he feared their
threats.
Roper's scheme was to offer TO oan
money, and then secure various fees, ETC.,
on pleas that they were necessary to OBJ
tain the money in open court. After the
victim had advanced a certain sum he did
not feel like losing it, and advanced more
under the rules, to obtained the desired
loan. BY clever provision the customer
was told that by advancing certain sums
he would become a shareholder in Ro-
pert's alleged company.
Although none of the victims advanced
as much as 1,000 their name is legion,
and some are out Of pocket upward of s4O0
Several colored churches are on the list.
A case which was instrumental in bring
ing Roper into the tolls of the law was
that of H. G. Morris of Olney, ILL.,, States
Attorney of Rockland county. After pay
ing in S104 in the vain effort to get a loan
of $500, he demanded his money back,
and took legal measures to get it. He did
not get it, but she got the satisfaction of
hearing of Ropers arrest
As in other cases, Roper seemed conf
dent Morris could not get satisfaction, and
wrote to him thus
Referring to your letters of the 4th and
llth instant. we have to advise you that
the statements contained in your letter of
the 4th are not in accordance with the
facts, and. while it is our desire to correct
any error which we may have made, yet
1t is not our desire to be held up or forced
by threats to submit to any proposition
which you may make
The following, from the same letter,
c11 n