The Washington times., 1922-11-10
WOMEN ON
LONG LIST
of VICTIMS.
Sums Of From $40 to SIS. 900
Turned Over to Brokers
For Speculation.

Twelve thousand Washington
men and women have lost about
e1,600,O00 by "blind pools" here
and in Baltimore during the past
twelve months, it was revealed
today. Sums ranging from $50
up to $4,000 have been turned
over to "blind pool" operators
by local people, many of them
women.
Baltimore Man Fails.
Counsel for F.. M. Young. bank.
rupt operator of Baltimore's pioneer
blind pool" yesterday filed i'm the
United States court statement
fixing Young's liabilities at S3,653.-
S44.34 as against $174,592.O5 of as.
sets.
A Washington man who was
victimized for a large sum said to.
day he hoped to get ten cents on
the dollar, for the money he put
into the pool
F. Y. Wholley. head of the Bet.
ter Business Bureau of Washing.
ton, declared today that the crash
OF the Young pool had caused
similar schemes all over the cour.
try to run to cover.
Mine blind pools were i'm opera
ton in Washington during the past
year" Wholley said. Five of them
closed out within four days las,
month.
$4,000 Victims Here.
I'VE estimate that 12 900 persons
here lost an average of $125 each
In blind pools. mostly those in
operation here. They all got Their
plan from Young, of Baltimore.
For five years he operated so sue.
cessfully that il was impossible to
find wherein his plan was Illegal
In one Of the pools in operation
In Washington. 1t is said that
seventy mechanics at the Navy Yard
invested 81 900 each, or a total of
$4,000. Right on the heels of this
action. cut in forces was ordered
at the Navy Yard and many of
those who had hoped to realize on
the investment SO they would be
from the rolls.
Some OF YOung's Victims.
Among the Washington people
who were caught in the Young pool
In Baltimore and the amount they
invested follows:
w. T. Lightle, the Dresden apart
ments, $4,000.
William II. McComas, 627 f street
northwest, $4,000.
Edna A. Lingle. 122 B street north.
east. $500.
G. B. Lake, 1887 Seventeenth street
northwest, 5000.
Erwin r. Knitter, 1249 Evart
street northeast, $500.
Miss Annie V. Hefner, 1907 Olive
street northeast, $4,000.
Miss Anna W. Hemelt, 4112 Third
street northwest. 81 500.
Anthony Hemelt, 4112 Third street
northwest. $4,000.
Francis J. Hemeit. 1918 Kenyon
street northwest. 5000.
Miss Genevieve Hendricks, 1916
Webster street northwest, S4O0
Miss Fannie Henthorn, 1114 Spring
road northwest, 5000
Miss Louise Higgins, 36S Irving
street northwest. $500.
Clarence l.. Jones, 639 Tenth street
northeast. $500.
Wig. John Karle. Benning, d. G,
5000.
Harry T. kranz. the lroquois
apartments. S400.
Roger Lusby, 63S Pennsylvania
avenue northwest. $500
Edith c. Ladd, SIS A street south.
east. $500.
Miss Louise McMurray, Govern.
ment Plaza Hotels, $500.
Mrs. Lois e. Heaton. 313 East
Capitol street. $500. ''.''
Operations a Secret.
The origin of the name blind
pool" was had from the fact that
In investing with one OF these
operators the invester was kept in
ignorance of the nature of the in.
vestment he was making.
Young, formerly an employe of
the New York Stock Exchange
claimed to have knowledge of
the stock market superior to that
OF the average man. His suggestion
was "let me have your money and
] viii place 1t as my judgment tells
me Ia best"
The Young pool paid dividends
regularly.
A Washington blind pool that
has been In operation here this
year paid n dividend OF 22 per cent
each mouth. until the operators ran
20 cover
More n 10000 persons paid
approxii u ely $4,000 600 in blind
nnn'a'' I,,ri,. ,lo .x... -