Hope Star from Hope, Arkansas on December 21, 1938 · Page 6
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Hope Star from Hope, Arkansas · Page 6

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Hope, Arkansas
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Wednesday, December 21, 1938
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Page 6
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I' 1 PAGE SIX .fijSTAK, HOPE, ARKANSAS Wednesday, December 21.1938 ^^ • • • ' m "" ' "_. - ' '.;••" TTi^u.iiyouCTjr) jLym;t;mut!i 6J.J moo Sketching a Saga of Swindle, the Fantastic Career of Philip Musica r- m " T ' . •' •"- - u_ __ . ' I A career of swindling that almost out-Ponzied the notorious Poiul began when a boy was bom to the Italian immigrants Antonia mid Asunta Musica in 1SS4. He was named Philip. The boy grew up in New York's East Side squalor. At 25 he was convicted of bribing customs officials. The following year he was pardoned from Elmlra, N. Y., reformatory bv President Taft. . " By PAUL FRIGGENS NBA Service Sfc Within a year Philip Musica was riding high, with plenty of money to dine Itigh-cniffurcd darlings along Broadway. It was those high-geared hair-dos that brought Philip his money. He and his father formed a human hair company and sold their product as high as $SO() a pound But profits weren't enough: there was tampering with bills of lading and drafts on the part of young Musica. Big-time American swindlers have probtbly defrauded the citizenry of greatly So when Mr In 1912 Plillip Miisicn WHS revealed us a l)ig-(iine swindler. He fled with his family. Arrested on board a vessel hound for Honduras Musica tried suicide unsuccessfully. He got off with n .suspended senlence in Ifllli and sank hit,, obscurity. In 1!)22. one K. Donald Coster, a hair tonic immu- fHcturer. appeared. He bought McKesson and llobblns, Inc.. made muncv luinil ever fist. .in Europe who were buying postoffice coupons for less than 2 cents in Amer- L nn ,, a h „,„„ . „ ;>1 1- i coupons for less than 2 c enough money to pay off the national ican money which couU ^ redeemed The fantastic, suicide-terminated over h «e at 5 cents, the scramble be- career of Philip Musica—who swindled plenty 25 years ago, and then took the v name of F. Donald Coster to continue his larcenous maneuvering among the Best People—again turns the spotlight on these smooth fakes. No ordinary crooksi these swindlers. ' '.' . ' One of them took the greatest of the Morgans for a million. • Another ran a 5-cent postage stamp into 515,000,000 robbing 40,000 persons. And a former Iowa farmhand perpetrated probably the most fantastic hoax of all, selling "shares" in the fabulous 350-year-old Drake estate to thousands of the guillible from coast to coast. Eventually, the law caught up with all of them. But the put>lic seems never to have caught up with its money. Rather Ambitious Take the case of Charles Ponzi. He is the only man on record who set out apparently to corner all the money in the world. Said Mr. Ponzi: "People are foolish to invest their money at 4 per cent a year. I can make 50 per cent in 45 days." That was back in 1920. gan. The law said it couldn't be done. But Mr. Ponzi, by this time raking in money from thousands, said it WAS being done and offered to pay back anyone who regretted his investment. He paid a 50 per cent dividend every 45 days. . Meanwhile he did pretty well himself. In a short time the former bank clerk was living in a ?500,000 home, riding in imported automobiles, wearing a different suit every day. The | Italian immigrant who had come to the country with ?2.50 in his pocket was making good—too good. ' To accommodate his rapidly expanding business he took over a savings association. Then rumor spread that all was not well with Mr. Ponzi. Investors began to line up for their money. On three successive days the capitalist paid out. Two days later he was declared bankrupt; he was arrested, subsequently indicted and convicted. When the smoke cleared it was found he had built a $15,000,000 bubble. He paid back perhaps half of this. Hair-Brained "Heirs" ? Thousands-of gullible folks investing in the mythical Drake estate during the American boom days were not so . .Mr. Ponzi's formula was simple, fortunate. Everybody knew that foreign money The Drake estate was the idea of a former Iowa farmhand and deputy sheriff. "Baron" Oscar Hartzell. Hartzell sold the story of an estate left by the swashbuckling English sea rover worth $22,500,000,000. But'to settle the estate Hartzell would need considerable capital. The return would be $1000 for every $1 invested. . Federal officials estimated Hartzell mulcted 50.000 Americans of at least $1,250,000. He went to Levenworth. ; But not all of the swindlers have 'covered such wide fields.il • ' One of the most famous of New York .swindlers was Dave Lamar, the Wolf of Wail Street. At his height he took the greatest of the Morgans for at least a million, took it from U. S. Steel in which Morgan was heavily interested. Lamar worried John D. Rockefeller, Jr., and caused untold anxiety along New York's financial canyon. The government caught up with him first in 1913 when he was convicted of impersonating over the telephone A. Mitchell Palmer, congressman, in a financial scheme. In 1910 he had nearly tricked a U. S. senator into delivering a n address from the floor which would have sent s'teel stocks into a sharp slump. In 1917 he was accused of being an agent of the German government. As late as 1932 he was arrested on a charge pf jrand larceny. Edward Garner Lewis, the man who raised $100,000,000 in 25 years, used still another method to milk the dear public. He merely borrowed. ; Despite bankruptcy proceedings against him, despite fraud orders posted by the federal government, Lewis managed to get millions from investors. He built wildcat cities, organized wildcat women's clubs, promoted mythical oil wells and silver mines, dispensed fake patent medicines, operated crooked banks and publishing houses. Finally the government caught up with him too. As a Inst-ininute gesture he asked his public for a "de- vn n nnn / Und ; • HiS public chip P ccl in SCO.OOO for which he did not even give his note. Coster's wealth pyramided, he was hailed as an executive genius But last month Wall Street heard he was shaky. This month tin- company treasurer found an $18,00(1,0(10 shortage in a department foster ruled ln'- ilcpcndcntly. Coster's fingerprints revealed him as Philip Musira. Musica- Coster drank through the night of December 15. next day shot himself to death as federal officers came for him. Musicas Face the Music Leave Church Service To Nab Thieves EDNA. Kans.-WV-When it com'es to capturing the interest of a church congregation, chicken thieves are too much competition for the pastor of the Trenton United Brethren church. During Sunday evening services a woman entered while a hymn was being sung and whispered, "They're stealing Jim Christmore's chickens." . Before the hymn ended all the male* members of the congregation were on their way to the Christmore hen coop where they' interrupted the task of two men who were emptying the roosts. The men fled by dropping their bags of chickens, but abandoning an old car. On their way to detention prison in New • ' She Knew Firemen Could Do the Job BATON ROUGETLnTUrj-A woman telephoned for n fireman. "Where's the fire?" she was asked. "It's no fire,' came the reply, "but I need a fireman." Hilton Rouge's fire chief obliged. His man found a calm woman. "Would you mind killing this cluck- en?" she said sweetly, "t know you firemen always carry hatchets." I am in love with Reno.—Mrs. .1. Richard (Dixie) Davis a.s she sought a divorce from her husband in Nevada. I have long been atlracled to fde- motion picture industry and the opportunity for public- .service it affords.—James Roosevelt, accepting a position in the movies al a reported .salary of $50,000 a year. Not in many year:, has there come lo our support a recognizable contribution from a member of ConRrirss.— The Rev. Howard Stone Aixler.son, Washington. It wa.s proscription .stuff ;md that's legal.—A prisoner in Sweelwaler. Tex., denying he was intoxicated. If I run, I won't walk.—Harold Ickes discussing the possibilities of his candidacy for mayor of Chicago. Intimate Gifts Are Best of All! House Coats New, feminine House -oats that make expensive looking gifts! Delights for her private life! All full skirt- cd styles in satins,. crepes, and other fab- ncs. $2.95 nr $4.95 FLANNEL ROBES 100% Wool Robes in solid shades of Blue, Green and Burgundy, ( with contrasting trim. Wrap around and zipper styles. For A Man's Leisure Hours! Flannel Robes FOR , * THRIFTY SHOPPERS W To $5.50 House Shoes Genuine kid house shoes in Blue, Red arid Black. All sizes. $2.00 A MOST PRACTICAL GIFT Exquisite UNDIES Adorably fcvn'ininc personal gifts— and their tiny price tags belie their luxury look! A glamorous collection of undies she'll treasure. See this group of lounging lovlies today. Lavishly lacy slips and gowns or pajamas that will delight any wo- The kind she loves, Panties, Dancettes, Brassieres, priced to fit your Xmas budget 98c to $4.50 49c to 98c Don't Give Stockings Give Gold Stripes A full range of sprakUng new colors. Pure silk from top to too with added glamour and flattery in hair line seams. That's the new Gold Stripes. 79c To Soft Light.... Warm.,. Beautiful satin cove r e d comforters, exquisitively made and filled with the softest and warmest of all fillings-, genuine goose down. $17.50 Blankets Part wool, or cotton us your budget will allow in single or double blankets. B e a u t i ful plaid designs or solid shades in reversible blankets. $L98 to Stetson Hats These hats are most flattering, and what man wouldn't appreciate n hat with the Stetson brand in it. Especially if it's one of the new shades and shapes we arc showing. $5.00 and $6.00 Other New Hats $2.95 and $3.95 Woolen Flannel in Wine, Blue and Brown tailored by Rabhor, an outstanding n a m e i n robes. Tailored to perfection as u m.ui Jikcs them. $5.95 To Velvet Robes Velvet robes with satin shawl type collar and fully lined with a matching .silk lining. 100% WOUT TOPCOATS This seasons topcoats in .single or double breasted models. Absolutely all wool and in the 'most pleasing shades and patterns. Some have belts all around others have half belts, and some have no belts Formerly priced up to 525.00— $10.95 to $19.95 Wilson Bros. SWEATERS REDUCED All our -sweaters in all models and styles have been reduced. They make an ideal gift, and at so little $10.00 Pure Silk Robes Pure silk robes in jacquard patterns with shawl collar and full silk lined. $13.50 Jacquard Robes Rayon robes in Blue, Brown, or Wine with matching collar and belt. An ideal gift for a man. COSTUME JEWELRY 98c THREE LINEN HANDKERCHIEFS $1.00 LINEN OR LACE SCARFS . 98c $1.95 PURSES, Reduced to $1.50 LADIES GLOVES, Latest Styles....$1.95 to $2.95 MADERIA NAPKINS, Set of Six $1.50 LADIES ALL WOOL SWEATERS 98c to $3.48 GIFT NOVELTIES .... 10c to 98c LINEN CLOTH, 64x100—12 Napkins $9.95 SATIN DAMASK, 70 inch width, yd. . $2.00 NAPKINS to Match Satin Damask, Doz. $5.00 MOST GIFTS ARE IN PERSONALIZED AND to $3.95 :*T/ 'j : \7Jte4s. $5.95 GIFT LUGGAGE BY BELBER ^*%w^r Box of 3 Handmade Linen Handkerchiefs 75c Combination Set, Hosiery and Tie $1.00 SHIRT with Matching Tie in gift box $1.50 Box of 3 Handmade Handkerchiefs .... .. 50c Zipper Fastening Travel Kits $4.95 Combination Set Supporters, by Paris .. SOc Wilson Brothers Hosiery .... 25c, 35c and SOc Phoenix Handmade Ties 49c to 98c Gladstone Bags, in Leather $8.95 Wilson Bros. Shirt with Tie $2.95 Leather Coats & Jackets .. $4.95 to $11.00 INITIALED RED AND WHIE GIFT BOXES Fitted Cases Empty HAYNES BROS Leather cases by Belbcr with re- m,ovable tray of fittings or with the lid fitted. They are sturdy and strong but are attractive to look at and are most useful. Black or Brown. $ Unfitted leather eases with moire linings which bk-ml with the brown or black leather. These bags co'/n'e in various si/.en and though light weight are exceptionally sturdy. '•There Is No Profitable Substitute for Quality" «$i'

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