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# PONZI UNDER GUARD.
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direction. The Oliver street branch is in a room on the third floor.
Bank Commissioner Allen, by whose order the Hanover Trust Co., Ponzi's chief depositary, was closed Wednesday, expressed the opinion today that depositors would lose nothing. "Nothing has developed yet," he said, "which leads me to believe that any depositor in the Hanover Trust Co. will lose a dollar. I believe the assets of the company together with the liabilities of the stockholders will produce a sum sufficient to pay every depositor in full."
Charles M. Brightwell, treasurer of the Old Colony Trust Foreign Exchange Co., told those who demanded the return of their investments that payments had been suspended for three or four days by advice of counsel. Early in the afternoon the offices of the company were closed and in the crush of people the glass in the doors was broken. After that an armed guard stood inside the locked doors.
Bank Commissioner Allen said today that so far as he knows there is no foundation for reports that other banking institutions besides the Hanover Trust Co. may be involved with the Ponzi collapse. Legal steps to protect Ponzi's noteholders continued to be taken today, another bankruptcy petition being filed in the federal court.
United States District Attorney Gallagher issued the following statement yesterday afternoon following receipt of a partial report from Edwin L. Pride, who has been auditing Ponzi's acounts for the government:
"Mr. Pride made a partial report to the United States today that Mr. Ponzi's liabilities are upward of $7,000,000, and that Mr. Ponzi has made a statement to Mr. Pride that his assets will not exceed $4,000,000.
"Mr. Pride further states that owing to the fact that a great many notes are being sent to his office of which he had no record that such notes were ever issued, and the fact that there are more cancelled notes to be returned, for which he should give Ponzi credit, it will be some time before a more accurate statement can be prepared of the liabilities. Mr. Ponzi's admissions, which are deemed to be particularly significant, were made to Mr. Pride yesterday."
Mr. Pride declined to make any further statement in regard to the audit.
