Chapter D: W. Moody, 182 and 184 Dearborn street

The papers, books and "big-dividend" circulars of these concerns filled several wagons. The police estimated that over $500,000 had been lost by the investors in these concerns, which, notwithstanding some of the high-sounding names adopted by them, were all turf swindlers. Raid after raid has resulted in practically ridding Chicago of these vampires, but they seem to thrive wherever they are permitted to exist.

FAKE TURFMEN INDICTED.

Gambling and Bookmaking Charged Against the "Get-Rich-Quick" Syndicates, Including Bennett's.

True bills were voted against proprietors of "get-rich-quick" turf concerns by the grand jury. Indictments were returned in court, and capiases for the arrest of the accused persons placed in the hands of the sheriff. Those against whom bills were voted are:

Frank E. Stone, alias Eddie Dunne, Security Savings Society, for bookmaking. W. R. Bennett, Security Savings Society, for bookmaking. W. I Bennett, Security Savings Society, for bookmaking. D. W. Moody, Security Savings Society, for bookmaking. Louis Morrison, alias L. M. Morrison, Co-Operative Trust Company, for bookmaking. Edwin E. Farley, for keeping a common gaming house and poolroom. Charles Carroll, for keeping a common gaming house and poolroom. J. W. Turner, alias J. W. Taylor, for keeping a common gaming house and poolroom. Miss S. Beck, stenographer for W. R. Bennett, for bookmaking.

One puzzling feature of the prosecution of the turf people is that although the bills accuse them of keeping common gaming houses and operating poolrooms, officers and lawyers interested in the cases say the promoters of the concerns never really attempted to win their advertised profits by betting on the races. It has been alleged that not one of them speculated with deposits, but simply sent dividends back to investors out of their own money. It is now suggested that the accused persons will either have to admit they were gambling or confess that their alluring statements about winnings on the race tracks were glittering frauds.

The turf swindle was prosperous until February, 1903, when the crash among the St. Louis contingent precipitated a "run" on all of the concerns then in operation. As it was not the policy of the swindlers to pay, they either closed their doors and fled or the police conveniently interfered with their business.

Prior to the crash at St. Louis there were several notable failures and disappearances. On July 9, 1902, the Al Fetzer Co., of Hammond, Ind., "failed," and about a week prior Turf Commissioner W. W. O'Hara, of Cincinnati, absconded. Both of these events shattered many dreams of riches. In the Fetzer case heavy rains were said to have broken the sure-thing combination by which the company was to win fortunes from bookmakers on the race tracks.

The amounts lost by the credulous investors in Fetzer's scheme, which, it was declared, "could not lose," reached into the hundreds of thousands. The towns that suffered the most were Hammond, Ind., and Appleton, Wis. It was reported that the people of the latter town had suffered to the extent of $50,000, and dozens of small cities are believed to have fared almost as badly.

The clients of the concern in Appleton included a number of well-known business men and people of all classes. They lost from $25 to $200 each. A poor widow who had put in all her savings was left penniless and was obliged to seek aid from the city authorities.

Fetzer conducted a large part of his business through the mails. He advertised extensively in the newspapers and found many who were willing to "play the game." Dividends of $5 a week for $100 invested were promised and were paid punctually up to about July 1, 1902. He said he had a system of playing the races that could not be beaten, and the success of the early investors convinced the doubting ones that his system was all right. The information of the "snap" spread rapidly and Fetzer's business increased accordingly. No one thought that dividends of 260 per cent were improbable when they read of the "long shots" that won races on the Chicago tracks.

Fetzer attributed the downfall of his business to the rainy weather and said that he had been unsuccessful in picking "mudders." His system of betting, which was to make everyone rich by the end of the summer, went to pieces with each succeeding thunder shower, and the investors received the doleful information that the company had lost its own capital, as well as the money entrusted to it.

An investigation into the affairs of O'Hara at Cincinnati revealed a state of affairs almost beyond belief. More than 4,000 letters which were received within a week after O'Hara's disappearance were opened. They were from every state in the country, and many were from Canada. Amounts from $5 to $500 in checks and mail and express orders were enclosed. The total amount of the money in the letters opened was $5,518, and Inspector Holmes stated that O'Hara got away with $7,500 which came in the mail the same week, making a total of over $12,000 for one week's business. O'Hara's books showed that from July, 1900, when he commenced operations, until he skipped out in June, 1902, he had received from credulous "investors" the enormous sum of $465,000.

The inevitable crash came early in February, 1903, and the police and grand juries at Chicago, St. Louis, New York and other cities got busy, but the money had been transferred to the pockets of the swindlers, who had the choice of paying lawyers and possible fines or traveling in foreign climes until the excitement blew over.

February, 1903, Detective Clifton R. Wooldridge raided and closed the following named turf investment companies in Chicago:

H. B. Blackstone, E. J. Arnold, 95 Dearborn street.

Harry Brolaski, "Brolaski & Co.," 356 Dearborn street.

Henry Thompson, "Brolaski & Co.," 356 Dearborn street.

Mattie Woodin, "Benedict & Co.," 225 Dearborn street.