The Washington times., 1920-08-01
THRONGS HAIL
COUPONK KING
Cheering Crowds Follow Ponzi,
Boston's New Financial Genius.
Few Withdrawing Money.


enriched by Ponzis so per cent in
! forty y-five-days'-schome In dealing In
international postal reply coupons
were present and Ponzi was De man
OF the hour.
After going among the crowd sell
| ing articles in behalf of a home for
Italian orphans of the North End
! tenement district, Ponzi made a speech
announcing that he was contributing
100000 to the home for the unfortu-
nate little ones.
Although under investigation and
still paying Off notes on demand,
Ponzi remained as debonair and af-
fable as ever.
Every place he went today he was
followed by crowds. many persons ex-
tending their hands and wishing him
good luck.
Cheers marked the path of his mo-
tor car through the streets Of Bos-
ton.
WANTS TO run FOR OFFICE.
Police warned Ponzrs chauffeur not
/ to let his car stand longer than
I twenty minutes, allowed by law. be-
cause II was demoralizinE traffic.
Commenting on the public acclaim.
Ponzi expressed desire to run for
public ofrice--probably that OF mayor
or governor.
Responding to cheers. Ponzl waved
his cane. tipped his hat. smiled. and
bowed his way to his expensive
Limousine.
An investigation by agents Of the
Italian embassy and the Ming Of a
/ $1,000. 900 libel suit by Ponzi against
| Clarence w. Barron. publisher Of the
Boston News Bureau. were among yes
terday's developments. Barron's
property was attached and a jury
trial asked by Ponzi's attorneys.
Ponzi closed his Pie alley office
| yesterday afternoon because there
| was not a great enough crowd to
warrant staying open.
FEW WITHDRAW MONEY.
Not more than thirty were in line
at any one time during the day with
drawing their money.
In the meantime the work of audit
ing Ponzi's accounts proceeded under
the direction OF United States Attor-
ney Gallagher.
The auditors probably will work all
| day to expedite the task. Auditors
exceed his liabilities. Ponzi insists
that they do. Ponzi says his system
! OF booking was SO skillful that the
most careful audit will fail to dis
close the methods which enabled him
to pay out millions to his depositors.
The auditors also will seek to learn
the metho by which the wizard OPP
crates. Ponzi aided the auditors in
levery way.
Part Of the day he spent in receiv-
ing insurance agents, portrait paint
ers, and scores of others anxious to
sell him something. Tomorrow he
will pose for the movies at his coun-
| try home in Lexington. That the
Department Of Justice is investigating
was evident today by the presence OF
a woman operative at Ponzi's School
street offices. The operative and Miss
Lucy Meli secretary to Ponzi, con-
| ferred for nearly an hour this after
| noon.
STATE MAKING PROBE.
| Attorney General Allen has a State
investigation under way. but has not
made public any of the movements OF
| his agents or what they have learned
Of the mystery. of finance.
| To have seen the dream come true
and still be young enough to enjoy
that is the experience of little
woman who lives today in a very fine
new mansion in the historic town OF
Lexington. This little woman is Mrs.
PonZi, wife of the young financial
/ wizard" Seated in the sun parlor
OF her new home she spoke with
eager interest.
"Its all as much a surprise to me,
Mr.. Ponzi's success, as to the public
at-large," she said. 81 never dreamed
of such riches; even now 1 do not
begin to spend what I could spend.
The most interesting thing to me Is
that he has accomplished what he has
been trying to do for seventeen
years, what l thought was more or
less OF vision.
MY husband is a graduate Of the
University of Rome: a member OF a
good old Italian family. whose money
had been pretty well spent before he
came along.
"Well, here in America he has
tried about everything there was to
do. always with the great scheme In
mind.
Last winter he evolved the new
scheme. Since then Charles has
earned this home and millions and
ms ueaT llttle mOtner mas come 10
live with us in comfort"
Mrs. Ponzi. beautiful young
woman. smiled In wifely triumph.
Ponzi said today that he expects to
go back to his business of doubling
investments in ninety days tomorrow.
CONFIDENT OF CLEAN RECORD.
Ponzi declared that the Federal
district attorneys audit would be An
ished by then, and that he was conf
dent that nothing Illicit would be
FOUND In his business. There would
be no reason for tho Securities Ex-
change Company not continuing it's
business along the lines II had been
conducted before the investigation
threw the full glare of publicity
upon II.
In the past three days Ponzi paid
out no less than s1,450,0O0 to de-
positors. His readiness to pay has
completely restored public confidence
In Ponzi, and there Is more than one
ready to stake all on the financial
genius of the little italian.