New Britain herald., 1920-08-13
HANOVER TRUST SOLVENT

HANOVER TRUST SOLVENT Bonds Fixed at -$s5,O 900 for Appear
 ance of s.Sindler-ManHL Legal Steps
 Are Being Taken to Protect Those
 Who Have Invested.
 Boston. Aug. 13.-Federaf and state officials continued with renewed vigor today their investigations of the crash of Charles Ponzrs dream castle of finance to the building of which 40,- 900 investors are alleged to have con- tributed from $15,00o,0OO to $20,- 900. 900.
 Elements Of Sttustion.
 Elements of the situation today, were:
 Ponzi was free under bail of $S5,- GOO, of which $25,000 was for his appearance before the federal gov ernment on a charge of using the mails in a scheme to defraud and $10,oo0 for his appearance before the municipal court on 8 three count larceny charge.
 Edwin L. Pride, federal auditoH was nearing completion of his tabu- lation of the latter's liabilities. Mfr. Pride has said that the liabilities all ready are shown at $7,ooo,o0o. Pom zi claimed assets of not more than s4.00o,0o
 Have Police Invested?
 Superintendent of Police Crowley has ordered an investigation of the police department to ascertain the extent to which members of the force have invested with Ponzi or other wise have been connectd with his affairs.
 Ponzfs Bank Solvent.
 Henry H. Chmielinski, president of the Hanover Trust Co. declared the institution was solvent and announced that "ewery depositor would get back dollar for dollar with interest" State Treasurer Burrell has announced the commonwealth has $125.0O0 deposit ed in the bank.
 Ponzi denied rumors that he intend ed to leave the city for a vacation. He said that if he had wanted to depart he would have done so before the events of yesterday.
 Bank Commissioners Joseph c. Allen said today that so far as he knows there is no foundation for reports that other banking institutions be- sides the Hanover Trust Go. may be involved with the Ponzi collapse.
 Other Legal Steps.
 Further legal steps to protect Pon- zi's noteholders were taken today. In the federal court another bankruptcy petition wasfiled, this one being di- rected against Charles PonZi of Lex ington, John S. Dondero of Medford, and Guglielmo Bertollotti of Parma, Italy. co-partners. doing business under the firm name and style of the Securities Exchange Co.,"
 Two similar actions already are pending. one bankruptcy petition and the other seeking the appoint petitions no mention is made of Ponzi's partners. The actions are di- rected against Ponzi alone.
 Aiken Receives Notes.
 The belief was expressed at At torney Gen. J. Aliens office today that it would be possible to compel persons who cashed their Ponzi notes with interest previous to the crash to return the money for pro-rata distribution among all the creditors.
 The attorney general also is en- deavoring to find legal means for pro- ceeding against Ponzi's agents of whom he believes there were hun dreds employed in various parts of New England It is said, that even Ponzi's chauffeurs acted agents taking the opportunity to interest the curious persons who focked about their employers car whenever it stopped on a downtown street. The prevailing rate paid to agents is said to have been ten per cent of the amount of the note sold. Upwards of , 500 letters containing unpaid Ponzi notes informa ton concerning them were delivered to MT. Aliens office l this morning while the corridors about his office were crowded with persons anxious to convey information per- sonally.