Word: chaine
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Dates: during 1960-1969
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...Administration acted yesterday to head off a chain letter scheme involving the purchase of Series E Savings Bonds from Harvard Square banks and the promise of a $50,000 return for a $37 investment...
...savings bond chain letter scheme reoccurs from time to time at the University. Under this year's rules, the participant pays $37.50 for a letter bearing a list of 11 names and a $25 savings bond made out to the name at the top of the list. Then he forwards the bond to its beneficiary...
Dean Watson warned, however, that such chain letter schemes invariably break down. "The first few students may make money," Watson said, "but the great majority get stuck...
...University is unsure what aspects of the scheme are actually illegal. It is illegal to send chain letters through the mail, but the postal regulations apparently do not cover the saving bonds. The letter itself warns, "Send only the bonds themselves through the mail. Do not mail the list of names...
...believed that the present chain letter started at colleges around New York, then spread to the Greater Boston area, and reached Harvard sometime late in October