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Newspaper
Bridgeport Times
Location
Bridgeport, Connecticut, United States of America
Date
Jul 29, 1920
Page
1
Boston July 2 Three investigations into the foreign exchange wizardry of Charles Ponzi proceed as Governor Coolidge directs state and federal authorities to probe his operations. Ponzi claims to have paid out over 1 million dollars yesterday while detailing his swiftly growing but fragile plan to swap international reply coupons for U S stamps to fund a vast takeover of investments.
A correspondent explains international reply coupons are prepaid postage stamps. Depreciation in foreign exchange makes them worth one cent abroad while they have a six cent face value. Ponzi claimed he could sell them for five cents here and abroad, earning 400 percent. He allegedly bought millions, paid clients 50 percent profit, and kept 850 percent himself.
The Securities Exchange Company of Boston opened a Bridgeport branch in the Liberty building Room 313 led by Charles B P Fox with W L Jarvis as district manager. The firm promises 50 percent in 45 days and 100 percent in 90 days on any amount, drawing interest amid investor skepticism as audits proceed in Boston. Fox says a rush of patrons is expected once the home office completes its audit.
Peter Kulesza of Brooklyn arrested with Stanley Waitkus on charges of swindling a local woman out of 3200 dollars with a fake money making device. Kulesza, wanted in several cities, will be extradited to Bridgeport once papers are ready.
Mrs Kate Noski escaped from the Connecticut State Farm for Women at Mantle last December and was arrested yesterday for drunkenness. Her case was continued in City court this morning to allow a probation officer to investigate the circumstances. Michael McDonald of the city was arrested for drunkenness last night and could not appear, being sent to Hillside home to recuperate.
New London announces the sale of the Shore Line Electric Railway Company property from Flanders Junction Saybrook to New Haven to United States Railway Equipment Co. The line will be dismantled and materials sold as junk. The sale involves 310000 dollars.
Bridgeport stores tout strong sales as 1500 women queued for bargains between 8:20 and 9:00 am. Managers from The Surprise Store and Fosier Besse Co. debate timing, while Meigs, D. M. Read, Rockwell & Co., Howland, and American Hardware report steady business. Jitney troubles hinder downtown shopping.
Morristown New Jersey July 29 At a dinner hosted by State Senator Arthur Whitney several Republican leaders heard Mrs E F Felder North Plainfield chairwoman of suffrage ratification committee and vice chair of the Republican State Committee say many women voters nationwide cannot determine policies and were sitting on the fence This she called unladylike and out of keeping with civic duty
Stamford Conn July 29 William N Travis pardoned by President Wilson after a September sentence to Atlanta penitentiary for embezzling Stamford National Bank funds. He was former city treasurer and was charged with $7200 misappropriated from city funds. Embezzlement totaled $30000 with notes from Sykes Motors Sales. He pleaded guilty in New Haven federal court.
Paris dispatch reports General Ludendorff offered the British envoy in Berlin a 1,500,000 strong army to battle the Bolsheviks in Russia. In return Germany would seek return of Posen and repeal parts of the Versailles terms including Danzig and the Polish corridor.
Testimony closed in the death of eight year old James DeMeo struck by a truck driven by Charles L. Kittels of George Kelley’s fleet at Bank and Main streets. Witnesses say the driver did not see the child until it was under the vehicle. the coroner, Dr. Phelan, will announce his finding in a few days.
Dareo Bruno, 25, broke his left ankle after a fall from a ladder while repairing seam pipes at the American Fabric Company plant on Connecticut Ave. He was treated and transported to Bridgeport Hospital. A 15-year-old, George Sherr, suffered a deep cut to his left leg after a fall from a car. Vincent Graham injured the sole of his foot on a clam shell while bathing. Michael McDonald was taken from the police station to Hillside Home for observation after Dr. Maxwell found intoxication.
Deputy Collector Wallace Smith received a telegram from Washington requesting the local post to help recruit 300 stenographers for permanent White House positions. Entrance salary is 1200 dollars a year with a 20 dollar bonus. Eligible workers should contact Mr. Smith immediately.
Bridgeport's jitneys vow to continue alongside trolley service, with John G. Schwarth of the Bridgeport Bus Association saying the public will decide. Jitney workers praise faster rides for workers, note no accidents, and urge stores to close earlier to ease rush hour congestion. More Connecticut cars are arriving, creating jitney shortages, and new drivers must join local rules. A move to merge state bus owners into one company is proposed.
Washington July 29 The Democratic party opens its campaign war chest to contributions of any amount chairman George White said party leaders would examine source rather than amount. Peace progress prosperity will be the slogan and should be coercive of victory.
Otto Bondi of Brooklyn reported his wife, 20, in a black silk dress and big black picture hat, missing after a Bridgeport matinee at Poli's theater. Bondy, who gave all his $35, sought help from authorities, asking for fare home. investigators assisted him to Brooklyn.
A fire started in a rubbish pile behind Wheeler and Howes garage on Congress Street at 12 30 this noon. The blaze caused no material damage and was quickly extinguished by the chemical crew from Headquarters Company.
David Pippin, a 16 year old African American boy, who fled Hillside home early yesterday, was caught in the North End last night and sent back to the home today. He was serving a 60 day farm term for an alleged theft.
Chairman Roraback of the Republican state committee announces Merritt Day in Danbury to honor Congressman Schuyler Merritt. The meeting on August 4 1920 at 1 30 p m will set the date and site for the state convention and related caucuses for delegates and nominees. An evening dinner follows at 3 o'clock with plans for a prominent speaker.
Hartford July 29 President Lucius Storrs testified at the Public Utilities Commission hearing on the Connecticut Companys bid for a seven cent flat fare within city limits and a three mile transfer zone. He said the zone plan failed to raise expected revenue and warned of a possible ten cent flat fare if money shortfalls continue. He cited June losses and a 29.7 percent drop in earnings. the company warned of possible shutdown within two to six weeks without the fare change.
Weather forecast notes fair conditions for New Haven tonight and Friday with partly cloudy skies statewide. A low pressure system tracked from Minnesota to Ontario, bringing clouds and showers to northern lake regions and moving toward the St. Lawrence valley by Saturday, with southern areas remaining fair and gradually warming.
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