The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-04-30
BY SAMUEL DASHED AND
THOMAS COPE
United Press stan Correspondents

Copyright 1884. BY United Press,
PARIS. April 30.-The dashing
and magnetic Serge Alexandra
Stavisky, unruffled by imprison-
ment, arrived at a comparatively
secure social eminence through
bribery of petty government officials
and through making others his I'M
whiting accomplices
After experimenting with check
raising, embezzlement and crooked
gambling, he turned his talents to
the boldeSt-and SimpleSt-form of
Swindling. He bacame a company
promoter and flooded the country
with unsecured bonds.
The handsome Serge. masquerade
ing under his psuedonym OF Mon
sieur Alexandra" had emerged from
a successful gambling season at
Deauville His pretty wife. Arlette,
had won prizes in her pastel coll
ored automobile and her pastel
shaded dress and hat to match. His
chauffer wore immaculate white.
Monsieur Alexandra himself had
dared to buck the Greek combina-
ton at the Deauville casino. and
his baccarat winnings were reputed
to be all a grand duke might de-
sire. So he moved on to the Basque
resort at Biarritz
Nearly Turned Honest
1t was at this point in his career
that Stavisky nearly turned to hon
esty He had organized with bogus
capitaD the Societe and Cannes.
The company sold jewelry and
found a ready market in the nordes
of moneyed dowagers and actresses
who Swarmed in those flush resorts.
But the money, though honest,
came too slowly.
Stavisky organized at Bayonne,
adjacent to Biarritz, a municipal
pawn shop. The mayor, Joseph
Carat, a respected deputy, seems to
have been a wholly innocent dupe,
impressed by Stavisky's breezy man
ner and his seeming wealth. The
pawn shop had the backing of the
town council, and for a time it
prospered. thanks to the rich South
Americans, retired Europeans. Ma
harajahs, Spanish grandeeS, adven-
CurerS and decayed nobility who
make practice of pawning their
jewels annually.
But Monster Alexandra" again
was dissatisfied with the slownass OF
the profits. Under French law,
pawn shop is privileged to issue
bonds to the amount of the pledges
it holds. Stavisky corrupted the
officials Of the bank-known as the
Credit Municipal de Bayonne"-
and soon began issuing bonds far in
excess of the banks collateral
Only little, simple crooked book
keeping was entailed, for the min
iStry of finance paid no attention
to what was going on.
Bonds Had Wide Sale
The bonds of the Bayonne COM
pany seeped through the ne.st1n.
Did they not have the recommended
ton of the labor minister, Albert
Delimier? We're they not backed
by the credit of the City of Bay
onne?
In December of 1888, however, an
insurance company which had pur-
chased thousands of the bonds be-
came suspicious at the frequent Of
feringS and decided to check stabil-
ity of the bank by asking for cash
when the bonds matured. That
was the signal for Stavisky's down.
fall. The Credit Municipal de Bay
onne had no such sums as we're de-
manded. The money was in Mon
Sieur AleXandres portfolio.
At first, only Controller Gustave
Tissler Of the bank was arrested.
The authorities apparently had for
gotten-for the moment-Stav;sky'
association with the bank. Before
warrants could be issued for "the
chief" he had disappeared, covered
his tracks in Paris, and was some
where in the Alps" He killed him
self when police broke in on his re-
treat.
TomorrOw-Stavisky and the Poll
ticianS.