New Britain Herald Newspaper, August 11, 1920, Page 5

Watch Tomorrow Night's Papers For The Special Announcement Of New b ‘ fore for lerysoay PONZI RELATES HOW HE MADE HIS MONEY Explains Some Details of Coupon Exchange Boston, Aug. 11.—Charles Ponzi, Who claims to have jumped from fomparative poverty to a multi-mil- Honair ostate In a few months through dealings in international postal coupons, told members of the Kiwanis club yesterday some of the steps In the process by which he claims to have amassed his fortune. Ponzi, making his first appearance &s an after-dinner speaker since he became the most talked gf man in the country, was a luncheon guest of the club. In opening his remarks, Ponzi reiterated his claim that he w: solvent and expressed confidence th this would be substanti d by th | federal and state Investigations now in progress and that he would be ahle to resume business in a few Hired Small Office. ,: He related how he had hired a a ! small office, used his small capital in various business schemes, and then, with an ‘nternational reply coupon nlwnys in front of him on his desk, “Yegan to do some thinking.” He finally obtained financial assistance, he said, to develop his idea, and spent thousands of dollars in foreign correspondence. “I found out,” he said, “that the postal coupons were being sold in foreign countries for the equivalent of six cents and could be converted into postage stamps. Then all I had to do was figure how many nickels make a million. “I got in touch with men—that's as far as I'll go—who were able to secure for me large amounts of cou- pons in different countries. They bought them with our money and used them as collateral to be Te- deemed later. “When conditions were right I of- fered to borrow money from the public. I offered 50 per cent in 90 days and would not promise to re- deem notes in 45, though I thought that three weeks was about right time to bank the money here, sena it abroad, get the stamps and convert them into cash. Summer Sea Tours to the Caribbean Great White Fleet FROM NEW YORK ORUISE NO. 1 $255.00 APPROXIMATELY 22 DAYS Including Meals and Berth. This crulse visiting Cuba, Panama and Costa Rica pro- vides an ideal outing two-thirds of the time at sea and one-third ashore; ample opportunity for many delightful and interesting sjdetrips In the quaint countries of the Caribbean. Frequent sallings from New York on steamers speclally constructed for cruise service. Cabins with private bath, extra. Only one class—First clase. Ports of 11 in the following order. Havana, @aba; Cristobal C. Z.; Port Limon, C. R.; Cristobal, C. Z.; Havana, Cuba, New York. CRUISE NO. 2 $255.00 APPROXIMATELY 23 DAYS Including Meals and Berth Visiting Cuba, Jamalica, Pan- ama (alternate weeks) and Colombia. This tour combines a delightful sea vacation with opportunity for unique and in- teresting trips ashore. Steamers first class in every respect and offer wide cholce of accommo- dations.. Frequent sallings from New York. Ports of Call in the following order: Santiago, , Cuba weeks); Kingston, Cristobal, C. Z. weeks); Cartegena, Puerto Colombia, Kingston, Jamalca; Santa Marta, Colombia; ton, Jamaica; Santiago, New York, N. Y. ORUISE-TRIP $240.00 APPROXIMATELY 22 DAYS Including Meals and Berth En Route. New York--Cristobal, Canal Zone and return. This trip gives opportunity for extended sightseeing in the Panama Canal Zone and includes a visit to Hava Cuba. Ports of Call in the following order: Havana, Cuba; Cristobal, C. Z. Havana, Cuba; New York, N. Y. This crulse may be agreeably diversified on alternate weeks, at the same fare, by usl steamer via Kingston making a 19.day crulse with a 4-day stop- over at ‘the Isthmus. (alternate Jamaica; (alternate Columbia, Colombia; Santiago, Kings- Cuba; CRUISE-TRIP $170.00 APPROXIMATELY 16 DAYS Including Meals and Berth While at Sea A delightful sea trip to beau- tiful Jamaica where three or four days may be pleasantly spent in sightseeing about the island. Frequent sailings from New York, returning via San- tiago, Cuba. Jamaica is an ideal place in which to spend a week, a month or a season— depending on the time at your disposal. CRUISE-TRIP $140.00 APPROXIMATELY 7 1-2 DAYS Including Meals and Berth ‘While at Sea From New York to Havana and return. The duration of this trip may be extended to meet the requirements of in- dividual travelers. Some will prefer to extend their stay in Havana, while others, having only limited time will find it possible to make the trip in about seven and one-half days by taking return steamer. En Route New York, Havana, Cristobal, An ideal sea tour starting from New York and ending at New Orleans. Pas- pengers change steamers at Cris- tobal, Canal Zone, where ample time is afforded to see the Pana- ma Canal and other points of interest in this region. This is one of the most attractive trips America has to New Orleans. water offer. NEW YORK — HAVANA NEW ORLEANS $97.20 Including Meals and Berth ‘While at Sea The ideal way to go from New Orleans to New York or vice versa, offering an opportunity to stop off at Havana, Cuba, en route. NEW ORLEANS — HAVANA NEW YORK NOTE—Fares, itineraries and duration of cruises and trips mentioned gbove are subject to change without notice. POR FURTHER INFORMATION SEE EORGE A. QUIGLEY CRUISE-TRIP $190.00 | APPROXIMATELY 15% DAYS Including Mcals and Berth New Britatn, Conn. “I started the Securities Exchange company. I was everything from president to office boy. “The second day after I opened a gentleman from the Chamber of Commerce came to my office to inves- tigate. He was convinced that my scheme was possible. Ninety per-cent of the people didn’t know about the international reply coupons. “Then a post office inspector came. I asked him if it was legal to buy an international reply coupén abroad and change it to stamps. He said ‘ves.' I asked him if it was legal to redeem millions of the coupons and he sald, ‘'no’. He would have to decide whether they were stolen or where they came from. Redeeming Stamps. “However 1 decided that if I re- deemed the stamps in the United States, the federal government might decide that it came within its juris- diction, though there was no federal or state law against it. But the ex- change rate was the same in Switzer- land and Norway and some other countries. So I decided to redeem them there.” Some one in the audience asked why the postal authorities had been unable to find any evidence of such large dealings in reply coupons. Pon- zi replied that foreign governments realized a profit on the issue of these postal certificates “and are not going to disclose to other governments how many coupons they have issued.” “And the international postal union is not going to do it,” he added. Asked if foreign governments had not stopped this, he replied: “Yes, they are stopping—they have stopped the sale of coupons for pub- lic use. But that does not stop my business. My money in Europe is working today, even if it is not here.” In the transactions in coupons, he insisted, nobody suffers a loss. “I buy today,” he said, “a dofllr! worth of Italian exchange. At the present rate I get 18 lire. I would get five under normal exchange. With the 18 lire I buy 60 international re- ply coupons. These coupons can be sold for $3 in American money.” He maintained that no government need lose, because transactions be- tween governments may be delayed until exchange is normal, and pointed out that there has been delay in the payment of interest on American loans to the Allies. “I haven't found amybody who will have to make it good” he asserted, when somebody wanted to know who would have to stand the loss. Account Slightly Overdrawn. William 8. McNary, vice-president of the Hanover Trust company, said yesterday that Ponzi's account with Medical Clinics Failed to Help Rheumatism of Joints Well today—Gives Credit to Var-ne-sis CONQUERS BHEUMATISM Mr. ‘W.E.Goss writes: W. A. Varney, Dear Sir— “1 had rheumatism of the for five years and was le t.o stand straight. For 18 months I was confined to my home, unable to help myself. Atone time 'I was before a chnic of physicians to determine the best course of treatment but failed to get rehef. 1 was suffering soin- tensel, dgbad but 157 pounds when Var-ne-sis. I began taking lt, am now back to work without a sign of rheumtum and weigh 210 WILLIAM E. GOSS. Mr. Goss writes under date of Aug. 29, 1919: ‘I am working here at East River, Ct. (where I now hve), seven days a week in a N.Y. &H.R i hosdiing & 24 lever and feel like a young fellow. Var-ne-sis did it.”’ ""‘“4&'5’..-... Write W. A, Varney, L VAR-NE-SIS RUB-ON EASES PAIN said, the Hanover Trust company, had paid out more than $6,000,000. At Ponzi's office during the forenoon his bank had been only slightly over- drawn and that the bank was fully protected. It was the overdrawing of this account, held in the name of | 550 letters and telegrams were re- Lucy Martelli, trustee, that resulted in | ceived from persons Wwho either the order of the bank commissioners | wished to invest money with Ponzi forbidding the bank to cash any more | or who wanted information as to the checks drawn by Ponzithe Securities | future of the Securities Exchange Exchange company or any of Pon- | company. The inquiries came from zi's agents. Ponzi, according to Mr. | all parts of this country and Canada. McNary is a heavy stockholder in the | One telegram from Atlanta, Ga., was Hanover Trst company. said to have indicated that the send- In the past two weeks, Mr. McNary | er was prepared to invest $10,000. Safe 7K for\NFANTS & Horlicks gl " Malted Infants, Invalids and! | ‘Rich ML, 8 Original Food-Drink ForAllAges What Is There Left For Essex to Prove Note the Range of its Nation-Wide Performance All Made in One Week These performances show what to expect of the Essex you will get. They are not a surprise to the more than 40,000 Essex owners although their equal in so many instances was never shown by any other car. g Some of the hardest tests were made by Essex cars that had already traveled over 35,000 miles — .quv‘- lent to 7 years of average driving. Some were on original tires that had done from 15,000 to 20,000 miles. Many were owner cars—owner driven—taken without special preparation from their ordinary day to day- work, to break the speed, reliability and economy marks of their localities. Women piloted some of the runs that showed as high as 28 miles to the gallon of gasoline. They set new marks for fast time over long distance driving where men with many cars hesitate to venture. Is there any important car quality left for Essex to prove? SPEED The inter-city records for time in nearly all localis ties are now held by Essex. ECONOMY ‘With 49 cars in every type of performance of from 5 to 72 miles per hour and over all kinds of roads the average was 18.9 miles per gallon. 24 Cars were sent on an average 216-mile economy run in Connecticut, some over mountains and others on a level course, averaging 18.7 miles per gallon. One car with 35,000 miles service averaged 21.2 miles per gallon. A Hastings, Neb., woman drove 109 miles to Lincoln, averaging 28 miles per gallon, Four women drove from Los Angeles to San Fran- cisco and return averaging 22.3 miles per gallon and another Essex made the round trip between the two cities, 846 miles, with an average of 23 miles per gallon. RELIABILITY Reliability which is a larger factor in car economy than even gasoline mileage, was proven in every locality in non-stop motor performances and in long distance inter-city runs. An Essex which had seen 16,000 miles service was driven from Columbus, Ohio to Washington, D. C,, 403 miles, in 11 hours, 40 minutes. Another Essex that had set the best time between Boston and Fort Kent, on the Canadian Border, made four round trips within a week, totaling 4,052 miles. An Essex which had previously gone 28,000 miles made a round trip between San Francisco and Los Angles over a route of grades and mountain passes, frequently far from water supply, with its gear shift levers, hood and radiator all sealed. It averaged 22.8 miles per gallon. HILL-CLIMBS From Buffalo, N. Y. to Rochester the distance is-88 miles. An Essex did it in 80 minutes. The St. Louis to Kansas City record, 303 miles was taken by Essex in 10 hours, 17 minutes. Another Essex went from Yakima, Wash., to Seattle, 180.1 ° miles over Cascade Mountains in 4 hours, 56 minutes, | lowering the railroad time by 1 hour, 44 minutes. - In every section Essex set new performance marks J on the most difficult hills. The Rim O’ the World in California, a climb of nearly 5,000 feet in 8.8 miles cver mountain was made in 17 minutes, 23 seconds, beating all m— vious records. The 31st Street hill in Washington, D.- C, wa$"] climbed by an Essex on high. Ng other car had done that. = And on the Tilden Stréet hill an Essex went over the top at 51 miles per hour and the same car towed a 6-ton truck with load 16 blocks up hill. NON-STOP MOTORS At many points non-stop motor performances were made during which the car was for a greater time used in country and inter-city running. No at- tempt was made at speed but in no case was the motor stopped during the period of test. Scores of cities saw the Essex in constant operatiton for 144 hours. At one point & two week’s test— 336 hours—was made of a motor in constant opera- tion. Literally hundreds of tests like these were made in all parts of the country. ~What they reveal is exactly what you may expect from the Essex you buy. that has not so vividly established its performance? S. & F. MOTOR SALES Corp. 155 ELM ST. Can you place equal confidence in any car Tel. 731 Difttibeitorto-fif o @New.rBritai n, Bristol, Plainville, Terryv ille and Southington. WATCH the ESSEX