New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-13

exploited by the newspapers, that he
collected the greater part of the mil
mons that trusting persons turned over
to him"
Ponzi, in talk with the newspaper
men, just before his arraignment this
afternoon, said
II had made agreement with the Dis
trict Attorney l would 60 up to him
tomorrow and meet my liabilities with
cash. With the closing of the Hanover
trust Company and similar action on
otner OF my accounts, being tied up,
round myself unable to do so.
- felt it my duty to go up and tell
him and ask him to detan me-"
State Bank Commissioner Joseph C.
Allen Issued the following statement:
Ihere is no doubt, whatsoever, that
the capital of the Hanover Trust Com
pany IS very badly impaired and is
propaoiy wiped out completely.
1T should be remembered, however,
that the stockholders have a liability
of 100 per cent assessment, providing
such an assessment is necessary to en-
aoie the bank to pay 100 cents on the
dollar to all depositors.
Stockholders Liable
Before the depositors can suffer
loss, therefore. the capital stock of
$4oo, 600, the surplus of 100000 and
thed stockholders liability of S4OO 900,
provided the stockholders can nav.
must first be used to take care of the
loss"
When asked if he thought the de-
posters were thereby we'll protected
he replied:
Il hope so. But it will be some time
before | can tell, because it will be
some time before our examination is
completed. And then. ct course, l
don't know whether the stockholde rs
are IN position to pay the liabilities"
Mrs. Ponzi, the young wife of the
wizard" surprised the newspaper men
to-day when she declared she knew all
about her husbands record. The re-
porters had gathered from Ponz that
he was doing his best to keep his
renltentiary record from his wife lest
1T might upset her. With that object
lie said he was keeping the daily papers
from her sight since the Montreal and
Atlanta penitentiary exposures.
But Mrs. Ponzo declared to-day she
knew the entire story of Ponzi's life
that it had been repeated in detail to
her by Porzi's mother, who has been
making her home with the young
intention to stick to her husband to
the end.
II only wish that he was without a
penny that / could better show to him
how deeply and truly l love him. |
have known the full story from the be-
ginning" she said to the reporters.
Knew the Whole Story
~ want to make it clear that love
him; that the full story of his life
was known to me before | married
him. l married him knowing that story
and believing in him. And be assured
that l believe in him still, more than
ever He is the kindest of husbands
never utters harsh word to me or in
his home"
There were tears in her eyes as she
spoke OF her great love for her hus-
band, but not once during the inter
view with the reporters did she
actually break down. She was plainly
under a great strain, but ever kept
herself we'll under control, much the
same as did the wizard" up to the
last forty-eight hours.
Ponzi's arrest and blowing up of his
financial bubble have revived the ques-
ton of his sanity, which was raised
by his critics at the time he talked
oflaunching his s1Oo, 100000 to $780,
100000 banking, trading, shipping and
industrial corporation, of which he was
to be the controlling factor.