Omaha daily bee., 1903-02-13
FIVE TURF CLOSED
St. Louis Betting Corporation Fail to Find
Patrons Cash.
GRAND JURY STARTS INVESTIGATION
All other Criminal Work il Dropped
TIL Probe Has Sunk Deep Into
Alleged Fraudulent schemes
of Racing Men.


ST. LOUIS, Mo-, Feb. 12.-At the end o.:
the third days run on the cooperative
turf investment companies by investors
demanding the return OF their deposits the
result stands:
F.. ]. Arnold and c~ompany-Al payments
suspended.
John J. Ryan and company-An pay
ments suspended.
international Investment c~ompany-Al
payments suspended.
Christy Syndicate Investment company
All payments suspended.
United Turf Investment company-Of-
flee closed.
Crowds Of men and women, eager to re-
gain their investments, surged into the
Offices Of the various investment com
panies today and all were doomed to dis
appointment excepting the International
Investment company investors, which con-
tinued to meet its obligations till abou. 2
o'clock, when it also suspended and de-
manded the stipulated thirty days notice
of withdrawal.
The United Turf Investment company did
not open its Offices today. a sign on the
door announcing that payments had been
suspended indefinitely.
Investors in the firm Of John ]. Ryan
and company awaited with hope the return
from Cincinnati Of Manager John ]. Ryan.
ne dIIlNNu Nnlb hloiulu6 III NhN hOp0 was
dissipated by his announcement that the
assets Of his firm we're not sufficient to
meet the demands for Withdrawals.
The investors in the firm of e. J. Ar
mold and company generally have given
up all hope Of recovering anything.
Late this afternoon the February grand
jury dropped all other business in order
to take up the investigation Of the turf
Investment companies.
Mr.. Ryan was ummoned to appear be-
fore that body and a similar subpoena was
issued for the appearance OF Mr.. Arnold,
who is reported TO be in Hot Springs.
Arnold Claims sOIvency.
At the Offices OF f. J. Arnold & Co., while
no money was being paid out. It was as
serted by Manager E. A. Gill that the COM
pany is entirely solven-. We will ray
every dollar we owe" he said. I'm fact,
the c~ompany's liability will not exceed
$4,000 and its assets are worth twice that
sum, but II takes time. II these people
had not tied us up l would have realized
on $780, 900 worth of property before this
time and have paid on the subscribers"
John J. Ryan OF John ]. Ryan & Co. re-
turned to ST. Louis from Cincinnati this
morning. II don't know what our cash
balance is just yet" said Mr.. Ryan. but
/ do know that IT is not sufficient to NEE
the demands OF our subscribers. In
vestors will have to take whatever is left. d
The Christy syndicate announced today
that It had suspended all business for q
few days and would neither receive an!
money. return any deposits or pay any
dividends.
A clamorous crowd stood before the en-.
trance OF the international Investment com,
pany's ONCE today. OTosrs Vpartad 'bi
entrance and perUi.sed only a rev 10 ents
at a time. -ae International company hal
paid OF investors during the two days o
ths run and announced that payment
would be continued today.
The United Turf and Investment com
pany closed it's doors today. A sign poste,
on the door read: "Ofhce closed unti
further notice. Due to Investigation.
This firm continued payment of dividend
until Wednesday night, but no deposit
have been returned since the run began.
After . time the demands for cash be