The Washington herald., 1920-07-29
u. S. Organists Meet in New York;
Many Reported to Haze Cleared
Big Postobice Coupon Profits

I he admits enabled him to pay so
per cent dividends in forty five
days. There are many New Workers
who drift back and forth between
London and Broadway who have
been cleaning up for a year with
out saying a word about ii or let
ting the public in for a share III
the profits.
Teddy" Bunch, husband OF Daph-
ne Pollard, the American actress
now playing at the London Hippo
drome. in a single month last year
cleaned up more than 100000 by
trading with these international
postal reply coupons. There were
half a dozen others around the HO-
tel Savoy in London who were also
! doing exceedingly well when the
British pound was dropping by
availing of the fixed rate of ex-
change that the United States Post
office Department maintained be-
tween our country and Great Brit
ain. The daily question in the
swamp" which is the pet name for
the cocktail room of the Savoy.
used to be: When will Burleson
wake up?"
Ponzi has undoubtedly extended
the Identical operation to the Ira,
the franc, the mark and money
units of other foreign countries
than England. Whatever he has
made simply represents what the
POstOfflce Department has lost by
its procrastinating methods in not
promptly following the rise and fall
of exchange. They will not concede
that at Washington, but a Congress
siOnal inquiry into the purchase and
sale of foreign money orders, COM
pairing the dates of the various
transactions with what was the
rate of exchange at that time, and
the differential rate the govern
ment paid, will pretty well repre-
sent what the United States is out
in dollars and cents.
Jazz on Boats.
Motor boat jazz parties under the
Palisades is the latest after-dark
form of pleasure in this big town.
Many Of the craft that participate e
are fine gasoline launches and pro-
vided with ice boxes and galleys
for cooking. Dancing and swim
ming are the novelties offered from
the decks of the floating and drift
ing boats. The only intruders are
the moon and the searchlight of the
Albany night boat. The east bank
of the Hudson River. which runs
to the level of the Manhattan build
ing line, has a million prying win
dows. But the west bank, from
which rises the steep sides of the
Palisades, is blind as a bat. Hence
the fascination and popularity of
the Jersey shore under the Pali-
sades"
Lamar True Gambler.
Reading of the new activities of
David Lamar recalls the best story
yet of the wolf of Wall street -
said a Broad street fnancier this
afternoon. He is the most perfect
specimen of a gambler I have ever
heard about. Nothing like him in
fiction. He will bet on anything
don't mean money. but every
thing. Early in his career he
formed the acquaintance of Russell
Sage. How men so different in
character and station came to-
gether is one of the mysteries of
that time. However, it was not
generally known.
"One day Lamar went to-perhaps
IL Will De just as well not to men,
tion the name of the banking house
and put forth a proposition that
he wanted to have taken up. They
declined on the ground that they did
not want to do business with a man
of unknown backing He could
then have named Russell Sage and
got assistance but he did not. He
said: Name any big man in Wall
street and l will get him here in
half an hour to support this prop
osition.'
In brief, he took the short end
on odds of 1000 to /. The head of
the banking house cast around
mentally for few moments and
then said, Russell Sage the most
unlikely man in the street to have
any dealings with Lamar. The
gambler had won. Lamar brought
around Sage, and the deal went
through, but Lamar got his great
est joy in winning his wager on the
poor mental throw of the banker.
On anyone else ne would have lost"
Copyright. 1890. By Public Lsdser Col