New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-07-31

mont came from Postmaster Roland
Baker that the Boston post Office re-
deemed only $50 worth of Information
Postal Reply coupons in the last three
months for Ponzi's exchange company.
Attorney General Orders Audit
Attorney General Allen announced
he will proceed Immediately to make an
audit of the books of POM. He has
also written District Attorney Pelle-
tier suggesting that the work be con-
Quoted by the state through some au-
ditor he will choose
The Attorney General had started on
his vacation when the request came
from Governor Coolidge that he make
an investigation. He changed his plans
and returned to Boston. His assist
ants, Albert Hurwitz and Edwin H.
Abbott, have postponed their vacations
to assist in the investigation.
Mr.. Allen took over the inquiry from
District Attorney Pelletier, he said,
because of the large territory covered
by Ponzi's operations. He pointed out
that the state and county can make
joint use of the results. The work of
auditing will include Ponzi's operations
in Boston, Brockton, Lawrence, Plym-
outh, birmingham. Milford, New Bed
ford, Fall River, Lowell, Quincy and
other places.
Ponzi has been doing business
through branch Offices in Manchester
and Portsmouth, N. H.; Providence and
Woonsocket, R. l.; Bangor. Me-; Bur
lington, VT; New Haven, Hartford and
Bridgeport, Conn; Springfield and
Worcester, Mass, and Bayonne and
Clifton, n. J. In all he has about thirty
Offices
Commenting on the Ponzi case United
States District Attorney Gallagher said
to-day:
"Statistics of the Postoficc Depart
ment at Washington shed some light on
the volume of business done in inte-na-
tional reply coupons since 1908. when
the United States government first took
up the business. Up to and including
the year ending June 30, 1918, s54.436. Ga
worth of coupons were redeemed BIZ
this government. In the year 1908,
which is looked upon as the banner
year, there were SIS, 1850 worth
redeemed by this government. The
business then fell off until 1918, when
there were only s1,9O3.a0 worth re-
deemed.
1T is expected that the figures for
1919 wIll show an increase over 1908.
Hc ISutc iDI me year ISZU are not
vet available. The United States has
made requisition for international re-
ply coupons since 1907 to the number
of 100000, Of which 1000, 900 have
been distributed to the various Offices
on requisition and 9OO 900 are on hand
The totals in money can be readily
obtained by figuring the redeem Die
value Of each coupon 6 cents)."
Commenting on the presence of Au-
ditor, Pride, Ponz said in his opinion
the audit would take about a week.
Il want my position clearly under
STOOD" he declared Il do not chal-
ienge or defy the state or government
officials. | have volunteered to assist
in any examination of my books, and
will render any cooperation possible in
assisting in obtaining speedy results. -
Does that mean you are ready to
divulge your methods of doing bust
ness?" he was asked.
ut means that what I propose to
show is that my assets are In excess
of my outstanding liabilities" he re-
piled.
In discussing his business to-day,
Ponzi said he might decide to accept
an offer of $10.00000O made yesterday
to turn his interest in his business
over to New York concern, which in
cludes some we'll known names on its
list of members.