AMERICAN ITEMS.
THE PONZI SWINDLE
(Reuter’s .Telegram.) (Received this day at 9.30 a.m.) NEW YORK, Aug. 14
Investigation is proving wide ramifications of the Ponzi business. The net losses are estimated as possibly as high as five millions sterling. Several leading officials of the Ponzi Company have been arrested. Huge crowds continue clamouring in the vicinity of the offices of the involved companies. A crowd stormed the offices of the old Colony Company, demanding the lynching of the President, whom the police spirited away. Other officials fled, the crowd pursuing them. The Polish Industrial Association, whose business is hopelessly involved in Ponzi’s affairs was compelled to close, owing several millions to small holders. A remarkable feature is that Ponzi obtained the buffi of the money after the officials began an investigation of his methods. Bondsmen who bailed him 'for five thousand sterling, later surrendered him to the authorities, apparently fearing his flight. 'OTTAWA, Aug. 14. Government Railway Board authorised substantial freight tariff increases in some cases.
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Hokitika Guardian, 16 August 1920, Page 3
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166AMERICAN ITEMS. Hokitika Guardian, 16 August 1920, Page 3
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