New-York tribune., 1922-02-15

For New Quick
Wealth Fakers
Police Chief Issues Clean
Up Order as Losses of
Poor in Bischoff Swim
die Mount to S7,OOO.O0G
Federal Action Invoked
Use of Revenue Stamps on
Bogus Securities Brings
Government Into Case
sc,c,ol D.srotcA to The Tr.b,.n,

Srect0l O.SfNtCh 70 me IrtbtNc
CHICAGO. Feb. - - Every police
tation in Chicago was ordered to-day
Nv Chief Fitzmorris 20 COMP their dis
+r;cts and close every Office that is
operating or get rich quick basis.
az am ,orfdon. Chicago is honey
corbed With sharks said the chief,
"ard it is especially true IN the fore cl
district. TIE police derartment will
take everv step possibl~ 20 drive them
out
The losses in the Raymond J. Bis
ehof oil stock and other deals. it dcvel-
oped to-day. will run nearer $1,000 600
than the s4,50oooo Bischof estimates.
As far as is known there are 100000
in assets to set against this deficit
Leslie Harrington. who operated
along practically the same lines as
Bischoff, finding a majority OF his VIC
tins among the foreigners "oack of the
yards" is estimated to have cleaned
up approximately s2.ooo.o00. His spec
ialty was "Novaculite" stock, and
when patrons became suspicious and
demanded their money baS,S ne would
Issue them additional stock. Harrinc-
ton has left the city, but three of his
assistants are under arrest They
bonds are set at $4,000 each, but they
made no effort to get bail. preferring
the safety Of the jail 70 facing the des-
perate mohs Of deposisors outside.
The Central Trus. Company. receiver
FOR the Bschoff affairs. also was r ade
receiver of She Harrington affair.
Federal agents from the Internal
Revenue Department began an investi
CATION Of the certificates issued hy
harrington. Each certificate bore a
revenue stamp, and it is said the buy
ers were assured tha. this meant tho
United States government was back
Of the scheme. 1t is charged the
same argument was used by BischoF.
The use Of revenue stamps on bogus
certificates constitutes a violation of
the revenue laws and this brings the
Federal government into both cases.
Hostile demonstrations were made
to-day by the dupes OF both concerns.
who realize their life savings have
been swept away. Twice the court
room was cleared because Of these
dsmunsua tons
audscious. smiling and AS uaper-
hzbed as when he swept millions in
his Golfers, Bischoff shook hands
With severs. oe !;s dupes and assured
them everything would come out all
right
Don't worry" he told them. "This
's Just a plot of my enemies to de-
nroy me. You will get your money
back all right"
Many of them assured him their
faith in him was unshaker. Some OF
them offered to sell him tNeir ce1tit-
Gates ct 80 cents on the dollar or less.
There were pitiful scenes and heart
breaking tales "hack of the yards" to-
day. Practically the entire colony.
largely Bohemian and Polish. has lost
everything in the Rischotf and Har-
.ington smashos. Agents speaking
their Languages were sent among these
people. The early investors were
promised high rates of interest and
Il was paid, out Of their own money
This brought on q new swarm OF in
vestors, but the late corners were
given additional stock instead of
money.
There are scores OF aged men and
women who have skinlped and denied
themselves all their lives to save some
thing for their old age. Now they have
nothing.
One man had shaved twelve years to
save money 10 bring his wife. son
and two daughters from Lithuana. Re
Gently he sent them 5000 10 pay ;heir
transportation TO New York. One OF
Harrington's agents induced him to iu-
vest Che remainder in Novaculte stock.
ms family has arrived at Ellis Island.
out he has not a penny to pay their
usnspoltatlon to Chicago and no
money to support them after they ar
Iss They will probably be sent back
to Lithuania