Evening star., 1934-02-04


ramified into every branch of finance,
trade and industry. He was a figure
in the world OF business, this Monsieur
Alexandra, as he called himself after
his exit from prison. Everybody knew
him, everybody was acquainted with
his past record-yet no one spoke,
no one would appear to have any
suspicious about him. Everybody was
at his service, everybody accepted his
invitations to dinner and luncheon
everybody was eager to be introduced
to him. Everybody was proud to be
able to call himself the friend OF M
Alexandra.
The man had discovered the weak
ness OF men in influential posts
cupidity. Satisfy them on that point
and all will be all right. That seems
to have been Stavisky's rule of con-
duct through all the seven years that
he occupied the center of the stage
in Paris and the fashionable resorts
of France. His dinners, his liberality
his presents were fabulous. Wherever
he went he was accompanied by a
!eritable retinue Of former boxers. who
acted as his bodyguard; a bevy OF
beautiful women, politicians. theat-
rical stars. public men and journal
lists.
He moved from business to pleasure
from his Paris Offices to casinos
where he lost and won millions. fairly
or unfairly. He was excluded from
these establishments, but was read
mitted after his customary applica-
ton to the right quarter.
Pursues Big Idea.
One day Alexandra had a bright
idea-or rather, it was one of several,
for ideas for swelling his pocketbook
came to him daily, though most of
them were dropped as soon as some
difficulty was encountered. But this
particular idea he did not let 60 so
easily, for it appeared to be the SIM
plest means of getting fabulously rich
without any risk. 1t was to gain con-
troll of the placing of the bonds with
which the municipal pawnshops Of
France raise loans to pay pledge de-
positors. He tried it on the Credit
Municipal of Orleans. The suspicion
of the mayor forced him to desist,
but not before he had made q round
sum through speculation.
The experiment taught Stavisky a
lesson: He must first win the mayor
over to his idea. Now at Bayonne
there was a mayor named Joseph
Carat. whom Stavisky knew through
his long sojourns at Biarritz. Carat
was an honored and respected official
who had administered the affairs OF
his town for 25 years and who had
been sent to Parliament by the votes
of his townsmen.
Stavisky approached him in April
1881. He pointed out that it was a
pity that so many wealthy South
Americans who came to the BASQUE
coast should continue to pledge their
valuable jewels at the municipal
pawnshops of Bordeaux and Toulouse
when Bayonne was so near. Why
could not Bayonne have its own
paWnshop and raise all the money re-
quired by the issue of bonds, as other
municipal credit establishments were
doing all over France? He would pro-
vide the funds to start the enterprise,
and with his influence in Paris he
would see to 1t that the bonds we're
placed in quarters whence the money
would be forthcoming Immediately.
Robots in Charge.
Carat was blinded by the glamour
Of the idea. He gave Alexandra q free
hand after getting the project ap-
proved by his town Council. Alexan-
DIRE suggested the former manager of
the Orleans Credit Municipal as man
ager OF the new Bayonne establish
ment. but that mans dismissal after
the Orleans affair and his employ
ment by Alexandra were we'll known.
So Alexandra suggested another of his
tools in Paris. certain Gustave Tis-
sier- With that the Credit Municipal
OF BayOnne began to function. quite
regularly at first. Pledges came in.
and as funds were needed to meet the
demands of depositors. the establish
ment quite legally issued bonds to
amounts not exceeding the estimated
value of the pledges
The affair prospered. The con-
troller signed the bond forms in blank,
while Tissier filled in the amounts for
which the bonds were issued. After
a time Tssier began to write one fig-
ure on the bond and a mere fraction
of that amount on the stub In Paris
Alexandre's brokers placed the bonds
AS the figures on the bonds grew and
private investors found the amounts
far in excess of their savings. Stavisky
approached the government with a
view to recommending pawnshop
bonds TO insurance companies as a
good investment. Albert Dalimier.
then minister of labor. sent out the
now famous circulars which pointed
out that insurance companies could
hold bonds of municipal pawnshops
The money passed into Staviskv's
pockets to- keep as much of it as he
liked and to distribute the rest among
his accomplices and aides.
In the Summer of 1882 some doubts
about these bonds Of the Bayonne
Credit Municipal began to filter into
the minds Of their holders This was
enough to set certain papers to talk
ing of Bayonne and Stavisky. But
the campaign stopped.
Fraud Discovered.
Finally. however one insurance COM
pany, the "Urbaine" demanded paw
ment on maturity and did not get it..
Then. at last the prefect Of the
Basses-Pyrenees department, who con-
trolls the Bayonne Town Council. took
action. The fraud was discovered in
the middle of December. Tissier was
arrested, but Stavisky was left in
peace The warrant for his arrest
did not reach Paris until December
%. but up to Christmas day he was
still in Paris. 1t was only then that
police began the hunt which ended
so tragically at Chamonix on Janu-
arv 8.
Who could fail to sympathize with
the thrifty French citizen when he
broke out in anger and contempt as
he read this story in all its details?
Though some newspapers tried to
m q Ire Y,O1itical copifo1 oa,f IF ~ fau,