The Police, Aroused by Turf Swindlers, Raid and Close Up Their Places.
Detective Wooldridge led the officers on February 23, 1900, when the following concerns were raided and closed up:
- Co-Operative Trust Company, 80 and 84 Adam street.
- Turf Investment Company, 84 Adams street.
- Inter-Ocean Commission Company, 66 Wabash avenue.
- Security Savings Company, Madison street and Fifth avenue.
- Investors' Protective Association, 510 Realty Building.
- 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.