The Lake County times., 1921-09-30
FF|CERS SAY
He VIOLATED
SKY LAW
". ]. MarkOviCh, Well Known
In Calumet Region, In
Serious Trouble

From a wandering singer in a gypsy
band in the Balkans to the represents
tive IN Duluth, Mimi. of the Bank o.
Serbia" is the meteorio rise OF NJ. j.
Markovich, former Gary and Indiana
Harbor foreign exchange and steam
ship agent as revealed today in press
dispatches, following his arrest ~
Duluth. Mimi, authorities charged
with violation of the blue sky law.
KNOWN At HARBOR.
Before making his residence in Gary
about year ago Markovich took up
his abode at Indiana Harbor where h.
is well known. His residence in Gary
covered a period of six or seven
months during which time he conduct
ed foreign exchange business and
steamship agency on West 18th ave
nue. between Adams and Washington
street Markovich then departed for
parts unknown several motnths ago
when il is alleged he was compelled 10
fee after putting his get rich quick
plan into effect in the steel city. 1t IS
also alleged that he also heeced
string of victims at the Harbor
He is alleged to have defraud-d
many of his countrymen through for
q III tANAdn5c SCnGIl6t MS arrest iOt-
lowing complaints made against him.
"Duluths Ponzi" as the prosperous
looking young man, with a foreign
accent, has come to be known among
others in the city. today declined 70
say anything as he waited in the
sheriffs office. to be arraigned
GET RICH QUICK PLAN.
Markovich carried half page adver-
tisements 18th Serbian newspapers
published in San Francisco and in
Pittsburgh addressed 10 "Serbians in
America" and to Dear Brothers -,
which he tells them according 10 a
translator that the Bank of Serbia
paid to its stockholders in 1920, % per
cent in dividends, and that it pays
per cent interest in savings account"
and that Withdrawals can be demand
ed on sight"
He informs his countrymen In the
advertisements, profusely illustrated
with prosperous appearing individuals
that 1t is easier to earn than to save
In labor is salvation. In saving is
wealth
He also informs them to Remember.
also that in this day ali the progress
sive nations support their domestic
banking Institutions; woe to the na-
tion that depends on foreigners and
foreign capital"
Markovich came to this country
about fifteen years ago. according 10
friends He sold real estate In Pitts
burgh, Gary. Ind, and has been N
business in Chisholm and Virginia He
came from Virginia to Duluth He
was associated as salesman with the
New Duluth Land company
advertise in
language as contained in a san Fran
cisco paper follows:
PERSUASIVE ADyERTISEMENT
4 have the honor to inform you that
our firm obtained the general agency
for the Bank of Serbia OF Belgrade
The Bank of Serbia is under the
control of the ministry OF commerce
and industry of the kingdom Of Serbs
Croats and Slovenes. Depositors e.
the Bank of Serbia who deposit their
savings are not only guaranteed with
all of the banks capital and reserve
but the bank helps them out in ever
way with advice and is always at ti..
disposal of the depositors
Because we are in the direct COZ.
nection with the newly organize
American department of the Serbia
bank at Belgrade we are in position
70 obtain in the shortest possible tim1
the savings department book and als5
the receipts for the money which you
sent to your relatives n the old coun-
try; and we will serve you promptly
and reasonably in any matter concern
ing banking.
The Bank of Serbia o. Belgrade re.
ceives deposits from America and pass
: per cent interest
Help your relatives in the old coun
try or deposit your earnings and sav-
ings in the Bank OF Serbia, especially
now while the price Of dinars ant
kronen is so low and the Bank ~
Serbia will take care Of your depos t
and will see that it grows