Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-08-14
MILLIONS INVESTED
WITH PONZ|, REPORT
Of AUDIT WILL SAY
Forty Thousand People Paid
S14,OOO,OOO to Boston
''Wizard," Now Under Ar
rest Estimates Disclose

BOSTON, Aug. 13.-An Infatuated
, crowd Of investors stormed the Of
fees of the Old Colony Foreign Ex-
change company here today and
sought to attack c. M. Brightwell,
president of the company, which he
admitted was insolvent.
The crowd, which had been gath
ering rapidly since morning, de-
manded return of it's money. The
money was not forthcoming.
Cries Of kill Brightwell! Lynch
himg went up.
BOSTON, Aug. 13.-Charles Ponzi,
whose net OF fifty per cent in forty
Ave days enmeshed so many custo-
mers that he had to use bushel bas-
kets to hold their money, was near
ing the en- dof his rope today.
The self-claimed financial wizard"
was at liberty on $4,000 baii-$26,-
900 on the federal charge Of using
the mails to defraud and the other
$4,000 on state charge of larceny.
The report of the audit of his
books by federal officials was ex-
pected to be made public today.
Forecasts were that the report would
show Ponzi had 10000 customers;
that they Invested" as high as $14,-
100000 in his scheme; that he repaid
approximately $6,000,000 before the
doors of the Hanover Trust company
we're closed and that he still owes
The remainder.
Federal officials declared that
there was no question but that the
savings Of thousands were tied up
in the Ponzi venture.
Bank Commissioner Allen stuck to
his statement that the capital of the
Hanover Trust company was BADLY
impaired If not wiped out" despite
.lenials Of officials.
Ponzi declared today that he was
happy because his girl wife still
professed her love and faith in him.
Rose Ponzi, pretty, dark-eyed Ital-
ian girl, proved her love and faith
by the simple statement: He is my
husband"
She is happy that the nerve-trying
strain of the past few weeks is over.
Although she loved the luxury their
, new found wealth gave them, she
said she would wait long and pa
J tientIy to help her husband meet
his obligations as she was confident
he would pay. all he owes.
Wife waiting for Him
After his surrender to authorities
yesterday, Ponzi rushed home to his
wife. She was waiting for him on
the lawn Of their beautiful, estate.
The worry and WEAKNESS that was
shown on Ponzfs face disappeared as
his wife slipped her arm about his
neck and kissed him. The little act
Of devotion seemed to give the
weary man new life. He turned to
newspaper men and smiled. His eyes
were moist.
Mrs. Ponzi then informed her hus-
band that she married him with
! full knowledge of his prison records
in Atlanta and Montreal. She was
told of her husbands record by his
mother when she and Ponzt became
trust Company Insolved
The Hanover Trust company is
hopeIessly insolvent. in the opinion
of the state commissioner Of bank
ing At least $4,000 in funds OF
the Bank of Massachusetts were de-
posted inHthe institution.
that Ponzi's claims of huge profits
in dealing in international postal re-
claim he never dealt in these cou-
pons to a greater extent than a
few hundred dollars at the most.
A high state official and two bank
officials were reported under IN
vestigation today in connection with
predicted for today.
That Ponzi during the time he was
assuring the public with, convincing
force that he had enough money to
settle all accounts, was making
desperate efforts to get money from
other sources is known. He is said
to have tried to interest Thomas w.
in his whirlwind business.
Only, the bare facts of Ponzi,s
great bubble have been disclosed.
When the whole story, is told Off
startling disclosure Of financial
manipulation in the history of the
Ponzi Receives Threat
Ponzi today RECEIVED a letter
The letter was written by a man
who said he had been trailing Ponzi
for twelve years. Police believed the
writer may have been one who suf-
fered as a result of Ponzi's financial
operations in Montreal just twelve
years ago. The writer threatened ito
get" Ponzi soon.
OF the hundreds who came to At
torney General Aliens office today
with PonZi'S notes were many work.
ing girls Of from IS to 25 years old.
Most of them told officially that
had with PonZi. All were worried.
There also were many youths, ner-
vous an dawed by the quick develop
ments in the investigation.
An aged Jewish tailor from LyRG
stood in line and wept Historically.
q for $1,000 which represented the saw
3 ings Of fifteen years of toiling with
the needle. He was heart broken.
A printer from the north end of
the city showed a note for $4,000
the savings of years of toll, which
he invested with Ponzi instead of
building home as he originally in
4 tended to do.
There were many italians in the
long lines at the attorney generals
office, but the majority who came
today were native Americans, most
1 of them factory girls, who had been
carried away by Points promise of
q Attorney General Allen was seek
ing to determine today whether
Ponzfs agents are liable for the
q losses of investors.
Stork Costs $1,000
NEW YORK, Aug. 13.--Reports of
! maternity hospital today showed