Republican farmer., 1920-08-06
Run
 Is At All End
Only a Few Investors in Line Today-Says He Has Made $5OO,OOO in Five Days-Ofer of $1O,OOO,O For His Business Federal Of ficials Skeptical.

d. hew-style fnancier who claims to have amassed millions within few months ana who has paid to the public large pFoHts on their investments in his dealings in international exchange. appeared today to have almost sat- asned question among his investors as to his solvency.
 Only short line formed before the payment window of the Ponzi office ana clerks said they were paying off almost as much on notes matured for the 50 per cent. profit in 45 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- tlons to the disappearing line. The amount paid out by Ponzf since the run began on Monday was esti- mated by his manager, Miss Lucy Mel, at $1,5o0,oO And we have Boston as MT. 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- ticipa tfon in his schemes already has been reduced by one-ha1f, with fur | ther receipts stopped by his agree i ment with the authorities to accept no more funds until investigation of | his accounts is completed.
 The run of frightened investors to l cover, Miss Me1f said, meant more money in the already bulging pockets of Ponzi as unmatured notes were i paid only on the basis of actual in- vestment.
 l Their money has haen ;re O 1 for us all this time," said she, and | MT. Ponzi now can keep the 50 per cent. profit which would have gone to these people. You will realize what this means when you know that nearly s1,000,00O which we have paid i out has been on unmatured notes, a
 saving to MT. Ponzi of almost S5OO,- 0OO."
 Ponzi's 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-
 tion by anyone in auth ority, (and
 would show that Ponzi had more
 than enough money to satisfy all
 claims.
 Examination of the books, however
 she says, will not solve the mystery
 of how Ponzf has made his money ! With h1S ready satisfaction of all de
 mands for payment, question has
 turned from his so1vency to "how 1 does he do it?"
 In reply to the statements o1 Postmaster Patten of New York, that
 there are not enough internationa
 postal coupons in the world to bui16
 up the fortune which Ponzi claims i.
 his, Miss Meli declared that hel
 chiefs manner of "cashing in'' on hi. ] operations was business secre
 which he intended keeping, an( , which examination of his book. would not show.
 Ponzi said today he was not per } turbed by completion of paying in l vestors 100 per cent. in 90 days, h, l had been offered $10,000,o00 for hi business.
 New York banker, whose identit, he refuses to divu1ge, made the offer Ponzi said. He added that he hst
 not decided whether to accept bu . would hold another conference witt . l the banker here in a few days. r He said he intended to resume op g erations in Boston and other citie , | where he has branch offices when tn a district attorneys auditors have com ? p1eted their investigation, if he di ] | not accept the bankers offer.