The Bridgeport times and evening farmer. (Bridgeport, Conn.) 1918-1924, 1920-07-30
Run
Is At An
End
Only a Few Investors in
Line Today Says He
Has Made $500, 900 in
Five Days Of
$1O,OoO,0O0 For His
Business-FederalO Of
fcials Skeptical.

Boston, July 30-CharleS Ponzi the |
new-Style financier who claims to have
amassed millions within a few months
and who has paid to the public large
profits on their investments in his
dealings in international exchange
appeared today to have almost sat
isfied question among his investors as
to his solvency.
Only a short line form ed before the
payment window of the Ponzi office
and clerks said they were paying off
almost as much on notes matured for
the SO per cent. profit in As days, as
they were returning to frightened
investors in principal without interest
on notes surrendered short of ma
turity. The virtual end of the five
day run was in sight, with few addi-
tions to the disappearing line.
The amount paid out by Ponzi since
the run began on Monday was esti-
mated by his manager, Miss Lucy
Nell, at $1,500,0O0. "And we have
twice as much money right here in
Boston as Mr.. Ponzi owes, so there
is no need Of anyone being nervous"
she added.
Ponzi, a few days ago, announced
that his liabilities were about $3,-
100000, indicating that public par
tlcipation in his schemes already has
| ther receipts stopped by his agree
ment with the authorities to accept
! no more funds until investigation of
his accounts is completed.
The run of frightened investors to
| cover, Miss Nell said, meant more
| money in the already bu1ging pockets
of Ponzi as unmatured notes were
paid only on the basis of actual in
| vestment.
\ 1nT1aH hoe
for us all this tirne,'' said she, "and
| Mr.. Ponzf now can keep the SO per
cent. profit which would have gone
| to these people. You will realize
what this means when you know that
| nearly 100000 which we have paid
out has been on unmatured notes, a
saving to Mr.. Ponzi of almost $780,
OOO.''
Ponzrs manager said She had seen
nothing OF any investigators as yet
although federal, state and county
inquiries are under way. Her books
She continued, were open for inspec-
ton by anyone in authority, and
would show that PonA had more
than enough money to satisfy al
claims.
| Examination of the books, however
she says, will not solve the mystery
of how Ponzi has made his money
mands for payment, question has
turned from his so1vency to chow
does he do it?'
In reply to the statements OF
Postmaster Patten of New York, that
there are not enough internationa
postal coupons in the world to build
up the fortune which Ponzi claims is
y his, Miss Nell declared that hel
chiefs manner of "cashing in on his
operations was a business secre
which he intended keeping, an6
which examination of his book.
would not show.
Ponzi said today he was not per
| turbed by completion of paying in
vestors 100 per cent. in 80 days, ht
had been offered $1o,00O.O0o for hi
| business.
A New York banker whose identit,
he refuses to divulge, made the offer
Ponzi said. He added that he hat
not decided whether to accept bu
would hold another conference will
the banker here in a few days.
He said he intended to resume op
erations in Boston and other cities
where he has branch offices when tn,
district attorneys auditors have com
pleted thef investigation, if he die
not accept the bankers offer.
, NOT ENOUGH COUPONS.