Pine Bluff daily graphic., 1920-07-31
RUN ON THE PONzI
 INTEREST SEEMS
 TO HAVE BEEN MET
More Than S1,500,000 Already Paid Out, Secretary
 Says

| SO'j v Niy -NIldIltS U. IOHZi |, who claims to have amassed millions within few. months, and who has paid to the public large profits on thelr investments in his deal in in ter national exchange, app cared to lay al most to have satisfied the question among his investors as to his solv- ency. Only short line formed be- fore the payment window of the Ponzi office this morning and when dis bursements were resumed clerks said they were paying off nearly as much on notes matured for the 50 per cent profit in 45 days as they were re- turnig to frightened investors in prin- cipal without interest on notes sur rendered short of maturity.
 The amount paid out by Ponzi since the run began made was estimated by his manager, Miss Lucy Meli, at $1,500,000. And we have twice as much more money right here in Bos- ton as MT. Ponzi owes, so there is no need of anyone being nervous" she added.
 Ponzi's manager said she had seen that his liabilities were about $3 ,OOO,- 900, including that public participa- tlon in his schemes already had been reduced by one half, with further re- ceipts stopped by b.s agreement with the authorities to accept no more funds until investigation of his ac- count is completed.
 The run of frightened investors to cover, Miss Meli said, meant more money in the already bulging pockets of Ponzi, as unmatured notes were paid only on the basis of the actual investment.
 "Their money has been working for us all this time and MT. Ponzf now can keep the 50 per cent profit which would have gone to these people. You will realize what it means when you know that nearly $1,O00,OO0 which we have paid out, has been on unmatured notes, saving to MT. Ponzi of almost $500,000," she said.
 Ponziz's manager said she had seen nothing of any Investigators as yet, although federal, state and county in- quiries are under way. Her books, she continued, were open for inspection by any one in authority, and would show that MT. Ponzi had more than enough money to satisfy all claims.
 Examination of the books, however, according to Miss Meli, will not solve the mystery of how Ponzi had made his money.
 To the statements of Postmaster Patten of New York that there are not enough interest coupons in the world to build up the fortune which Ponzi claims is his, Miss Meli de- clared that her chief manner of cashing in on his operations was a business secret which he intended keeping and which examination of his books would not show.
 Attorney General Allen this after noon announced that he had taken over the inquiry began by District Attorney Pelletier of Suffolk county MT. Pellitier issued statement con curing in the attorneys action and stating that in the action he had talk en, his "only thought was to protect 1 CHS PVoPAS IAoH PoSSipiS iooo, ONSAi though there did not appear evidence of criminal offense, and Mir. Ponzi readily acceded to my proposition"
 Ponzi this evening said that his at titude toward the official investiga- tion was one of help rather than one of opposition.
 q closed my business of my own f,> reopen it when I wish," he said. "I have received no word from any indi- vidual to the effect that I may not eventually resume business. However l might decide to accept the offer of SIC, 0,000,000 made yesterday to turn my interests in the business over to New York concern which includes some we'll known names on it's list of members"
 |