However opinion may differ as to the blame for the inability to peg the exchange, we know it was a bonanza to the speculators. Ponzi ought to have been there to compete with the whiskered money sharks. And we know there were Americans as well as British, French, Russians and other nationals who were numbered among those speculators.

The geological structure of the valley of the Tiber at Rome is very clearly described by Professor Ponzi in a memoir published in 1850, from which the accompanying section is taken.

Boards of directors are appointed by management as are auditors. Shareholders are not represented in any decision making process small or big. The dismal truth is that shares reify the expectation to find future buyers at a higher price and thus incur capital gains. In the Ponzi scheme known as the stock exchange, this expectation is proportional to liquidity new suckers and volatility.

On the exact age of the deposits of Monte Mario new light has recently been thrown by a careful study of their marine fossil shells, undertaken by MM. Rayneval, Van den Hecke, and Ponzi. They have compared no less than 160 species with the shells of the Coralline Crag of Suffolk, so well described by Mr.

All the great swindlers show how the lust for gain plus the wiles of the swindler overcome the caution and suspicion of the "hard-headed," The Ponzi case is the latest contribution to the subject. In its extreme form the paranoic is rare just as is the extremely trusting person of saintly type.

The Eternal City itself is built on hills of volcanic material which some observers have supposed to be the crater of a great volcano; but Ponzi, Brocchi, and Daubeny all concur in the opinion that this is not the case, as will clearly appear from the following account.