The Washington times., 1920-08-20

collapse OF the game caused more OF
an uproar than the downfall OF Mr.
Ponzi.
Al kSS4t tkls tlms W1llkm Frkak-
lin Miller. OF Brooklyn, N. " came
upon the scene. Miller was twenty
three years old. He paid 10 per cent
week-for time. They call him
$40 per cent Miller. 30 much money
poured In upon him from all over
the East and Canada that twenty-five
clerks were kept busy counting w
MilleTs game was exactly like
Ponzfs. He took II In at one window
and he paid II out at the othsr-for
time. Before he was given a ride
to ossining, at State expense and with
ar official escort. he opened Boston
branch I'm charlestown. New England
" ent dany-and broke-oyer "02O per
cent" who now runs "A cute little
neighborhood grocery at rockville
Center. l.. l.
For about ten years after this the
get-rich slickers worked New Eng
land wearing mufrlers, rubber heels
and rubber gloves. They talked In
whispers. Once every three or fout
months, Of course, somebody dug the
roll out OF the feather bed and took a
trip TO the wicked city OF New York
TO buy counterfeit" money. but that
was all.
In 1900 however. Ferdinand Il.
Borges blew into Boston and the great
Ubero Consolidated Plantations Com
pany was born. Two OF it's children
were Ubero Rubber and Ubero Cof-
fee. Borges grabbed his meals In
dairy luncheons. TO begin with. but II
wasn't long until he was the pet OF
the hotel walters. q plutocratic patron
OF the drama, and the proud possessor
OF palatial Offices. And oh. boy! why
shouldn't he have been? All that the
Uberto, etc, "owned" were 100000
rubber trees. 100000 pineapple
trees, and 100000 coffee trees.
Borges cleaned up about $2,0OO'OOO.
In 1905 he was convicted on twenty
three counts OF larceny.
A VERITABLE J. RUFUS.
An interesting contemporary of
Borges was Cardenio +. King. who
promoted the King g-Crowther Oil Com
pany and other swindles and who was
released from State prison in time
to die at home. King was OF the
j. Rufus Wallingford type physically.
a big fellow, many Of whose friends
remained friendly even after he was
found out.
Somewhere in between the Iron
Hall and the Borges-king days came
a clergyman. the Rev. Prescott Ford
Jernegan. with his Electrolytic Marine
Salts Company and-eureka-a ma
chine to take gold from sea water.
Stock In the minister's scheme rose
from $33 to $3.50 a share. plant"
was established at Lubec, Me-. where
the sardines come from now. 1t was
a secret plant, with armed guards
and everything. There had been a
private test of the machinery down
near Providence. The machine was
saIted-with goId-in advance. Thou
sands believed in Jerneganl 1t cost
them dearly.
Will Ponzi, then, be the last one?
Veteran prosecutors and wise old
detectives say never fear. They re-
call the immortal words of wise old
Wilson Mizner, there is one born
every minute and two to take him"
what are you talking about?" one
gray-haired policeman said to a re-
porter who wanted to know IL he
didn't think the exposure of Charles
Ponzi of the Penitentiary St Vincent
de Paul and the Federal prison at At
lanta would not put the skids under
the &. r. q. game.
where do you get that stuff" per-
sisted the ancient copper. didn't the
Old Colony Exchange gang appear on
the scene with three shells and
nimble little pea just when the Ponzi
inquiry was getting into it's stride?
THE dear old public was wise by
that time, you would think. Didn't
everybody laugh the Old Colony Ex-
change bunch to scorn? Didn't every
body say Nay! nay"
NEW "PONZIS" WILL ARISE.
"For a few months to come the
-rich-quick boy in New England
will lay as low as Saratoga gamblers
after a sensational raid But the ex-
citement will die down eventually
and by the time the children of Pom
zi's friends have got 1886 apiece
therell be a new Jernegap, or a new
Borges, or a modern c. F. King opera
ting in dear old Boston and the line
will form on the left Please don't
crOwdw