The evening world., 1921-01-06
foreign BANKER"
MUST EXPLAIN DEAL
IN GERMAN MARKS
Henry FARO Asked to Tell
of Transaction Wherein
$3.50 Was "LoSt."
Bu Martin Green.

private bank, 6bnmBhip ticket agency
and insurance brokerage business at
No. 80 Cooper Square East. appeared
N Essex Market Police Court yes
terday afternoon in answer to a sub
poena issued by Assistant District
Attorney Henry Goodman on the
complaint Of william Lange OF 11th
Street and Second Avenue, that Faro
has defrauded him Of approximately
$3.50.
After looking over books produced
by Faro. Assistant District Attorney
Goodman sent the complainant and
his evidence to the Indictment Bureau
OF the District Attorneys Office. The
books purport 70 show a history OF
the transaction, but Mr.. Goodman
was not satisfied with them, calling
the attention OF the banker to a
couple OF what appeared to be dis
cropancles. Faro said he thought he
might be abie to produce more EVIL
tence OF his good faith in his deal
lngs with Lange and was instructed
10 do 50.
Lnnge's story Is typical OF numer-
Gus complaints which have been
made to The Evening World by per-
sons who have had dealings with pri-
yate bankers, money brokers and So
sanUnlN
papers TO substandate hts statements
made to The Dveuing World. as fol-
lows:
TN Janmry 1917, I had 1,O32 in
o savings bunk. One day / happened
TO pass the FARO bank had read
hrs advertisements and went in to
zee him about the prospects Of profit
by Investing in foreign money.
"IIo waxed enthusiastic over the
pan. He said he had been in Ger
many recently and had talked with
prominent German bankers and Gov
ernment officials, and that German
marks were sure to appreciate in
value.
AT that time German marks were
selling for Is cents wanted to in.
vest only $3.50 in 1908 marks, but Of.
ter long argument he persuaded
yme that / should buy 5000 marks foI
5000 / drcw 5000 out OF the saving
bank and gave II 10 him with tn,
understanding that he was to deposit
5000 marks to my credit in the CITY
Savings Bank in Berlin at az pei
cent. interest.
DIDN'T HEAR OF HIS $500 FoF
OVER THREE YEARS.
II waited to receive a bank book O'
statement from the Berlin bank
None came and then the United States
went to war with Germany.
For three years paid visits
many visits to Faro. I asked him 1
he had received any statement from
the Berlin bank He said he had not
while the war lasted he blamed tn
delay on the war After the war wa
over he blamed the delay on condi
tions after the war.
Tn January, 1920 Just three year
after I gave zaro my 5000 1 wrote t.
the City Savings Bank in Berlin an,
inquired IT, Henry c. Zaro had de
posted with them to my credit tn
sum Of 5000 marks. In March, 192C
1 received a reply from the, ban
stating that they had not received tn
s 900 marks and that l had no credi
in the bank.
At once I wrote a registered lette
to Zaro demanding $500 with interes
al per cent. from January, 1917.
received in a short time a reply fror
him in which he said he wanted I
get In communication with his Berli
correspondent, and as soon as sue
communication was established. h
would treat me right
Il waited six months. and got n
satisfaction from Zaro. Then, by aC
/ cident, came into possession Of IN
formation which led me to believ
that Zaro had sent 5000 MARKS ~ b
deposited to my credit about Aug 2
1870, three years and seven month
after he had taken my $500.
r "On Oct. 10, 1920, ! wrote to tn
e bank, instruoting them to refuse l
, accept any deposit from Henry
Iaro to my credit. And on last MoI
r day, Jan 3-almost exactly four yeal
: after | had entrusted $500 TO Iaro
- / received from the bank a repl
. stating that l had a credit there
5000 marks ana also statement
, my account showing such depos
4 but not giving the date,
? "Thc letter from the bank stat
they were sorry they had not recel'l
n my letter In time. II reached the
I they said. after they got 5000 mar
y from Zaro.
4 THEN THE VALUE OF MARI
TOOK A BIG SLUMP.
: NOW, here is the point: The 81
a marks TO my credit at the City Sa
Il ings Bank in Berlin are worth
n American money only about $40.
y True, they would be worth OF
l. $40 to-day II Zaro had sent them oy
IT in 1917 and had allowed them 10 !