New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-05-05
FROM VICTIMS, S1OO, 900.
BAIT, DIAMOND MINES.
Raid on Get Rich Quick Concern
Used Noble Names.

afternoon when Of the finest suites of offices
In No, Wal-st. was raided by the police, in
Guiding Captain Farrell. of the Old Slip station
several of his men and three Central Office men
The rooms were occupied by the British African
Finance Company, Complainants say that the
firm put out bonds and stock Of the Nokanna
Company, Limited. owning diamond mines in
South Africa, and that these mines and the
company are myths John J. Prince a broker
or No East e-hundred-and- -sixth-st: his
son. Joseph E. Prince, broker of the same ad-
dress, and Horace Blackmur r broker of No.
49I State-st.. Brooklyn, made prisoners On
charges of grand larceny and using the United
states mail for fraudulent purposes
detectives McConyille Clark and Blakeley, of
the Central Office, and Postoffice Inspector Boyle
have been working up the case for some weeks
ana say the company is a myth and that the
british African Finance Company is get rich
quick concern. They believe the company has
made at least 100000 since the first Of the year.
that the men had other companies formed with
names Of men as the members whom they them
selves impersonated. and that they have a
oozen complainants who declare they have been
swindIed
according to the circulars and paper issued
by the British African Finance Company. mem
bers Of the nobility figured among the officers
ana directors. The Hon. Edmund L. Wallen is
Vlce-president, ]. Cammeron Rogers secretary:
HanseH Taylor. treasurer. The board of di-
rectors consists of Sir Frederick Camnington
chairman; Sigmund RothschiId. J. Cammeron
Rogers. Thomas Kanney Brown. Baron Helm
rich Won Prall. the Hon. Edmund L. WaIIen and
Sir Charles Noble
The police say they have letter from Sir
Percy Sanderson, in which he says there are no
such persons in London. He has also written to
tHe postof1ce authorities. Inspector Boyle states
mat ne believes the company to be fraud
Inc British African Finance Company ac-
cordlng to the paper of the concern is
an American fiscal and transfer agent for the
Nohanna Company. Limited. The company was
formed January y, 1903, though it has been In
operation since 1896. John P Austin is named
as manager of the company but the police
lhlhK MIN a myth as they have never been
able to find him in their Investigations
The circulars describe the Nokanna company
TO be operated for controlling the Nokanna
diamond mines along the Nokanna River in
south 9trica, which, il is said. in the Blue
Ground, or the richest diamond fields in all that
continent, and it is further declared that the
Nakanna mines are in the same identical geo
logical formation the Kimberley mines The
Nokapna mines. themselves. so the circulars
read. are the richest in all the Blue Ground
Then come the high sounding names who not
detectives. the police here say, declare are not
known in London.
The chief complainant against the B. A F. Co
is William N. Bush. P. o. Box 647, New London,
Conn He has laid lot of what the police call
splendid evidence aginst the firm in the hands
of the detectives.
Bush says that when he had corresponded
with the company and had received circulars
and references he found among the latter the
firm of Edward Harman & Co, bankers and
brokers, Of Nos. S2-SS WaII-st Postof1ce In
spector Boyle found this firm had had offices
there to January, but since that time the firms
mail had been sent to the British African |
Finance Company at 6 Wall-st. The members |
Of the firm were ostensibly Edward Hartman D |
?. Whteley and A. T. Britton Boyle says all |
three are myths. He has never seen one of
them He and the police declare that whenever |
customers tried to see Harman the elder Prince |
would impersonate him, unless he happened to |
be out, when Blackburn would say he was Har-
man
Another reference Of the firm was the Empire |
Mercantile Agency, of Nos. 31S and 800 Canal
st. In the basement of this place is the Man
lattan Dust Absorbing Floor Oil Company. of |
which David ]. Prince is manager Detective
IcConville says David j. Prince is son Of
John J. Prince, and that he intends to arrest
lin If he can find him. Another reference Bush
got the British Bank of South Africa, in
Cape Town. August Knollwood was given as
president. He wrote to him and got reply. The
etter signed British Bank of South Africa.
\. Knoilwood, President In the letter it is
stated that the title of the Nokanna company
o the lands and mines on the Nokanna River is
lear and incOntestible. Bush says he took oc-
.asion to write TO the African Banking Cor
'oration. of the same place. and got word that
here was no such concern rs the British Bank
f South Africa.
After the Postoffice authorities and the De-
ective Bureau officials had made Investigations
With these results and Bush had secured a
ozen other compIainants they decided to make
rrests They went to the office of the COM !
'any yesterday headed by Captain Farrell
Wall Street got excited at once on seeing police
nter building and crowd tried to force its
way in with the officers. They We're thrown
ack. The police entered suruptuously fur
shed suite of offices They say the firm be
an seven months ago at No. 60 Wall-st. when
hey bought furniture the instalment plan.
he furniture in the office yesterday was hand
ONE, and had been made TO order. The reCep-
lon room was elegant in its appurtenances.
Austin was asked for, but he not there.
was said nor was Hartman, who was inquired
Or. Both Princes and Blackburn were there
nd were put under arrest. They made pro-
est that there must be mistake but did not
Irther resent the police interference, and were
AIKEN To Police Headquarters.
The detectives found list of about three hun
red names of customers of the company. The
der Prince had pawn tickets Tor some silver /
are. A number OF letters were also found from |
eopIe who acknowledged having received divi- !
ends on stock. The shares were of value
Il each and the dividend be ) per cent
month. The police say that the concern got
any customers and made a great deal OF !
oney.
Defective McConvilIe says Blackburn ran
fee at No so WaII-st under the name of
lillian T. Edison & Co, also running THE
rall Street Economist" The police went 10 .
lat office yesterday. but found everybody had
ist left il, and no one returned while they
ere there. :
The British African Finance Company is not :
gistered with the County Clerk though the {
" compels such registration. by an act Of two
-ars ago The police say this makes the COM
my liable and that should the evidence be