Word: pyramids
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...four days ago, I joined a local pyramid club. I would have to attend three parties and give one of my own before the pay-off came, and I collected the $4096. All I had to do was wait 12 days...
...around for un hour, rationalized the whole thing to convince ourselves we would win at least $50, and drank beer. Hard drinks are never served at pyramid parties. Heads must be steady when filling out daily charts...
...Pyramid Friendship Club craze reached the Eastern Seaboard. New Yorkers added their own characteristic stamp: increasing the ante from $1 to $5 and guaranteeing to pay off $10,240. There were also wild rumors of a $100 Wall Street club, which was supposed to give the lucky winner a cool...
...areas of the U.S. where it had taken root, feverish armies of men & women talked of little else; they recruited friends and set out for pyramid parties nightly like grain plungers trying to corner the wheat market. Calls on some suburban Detroit exchanges rose...
...Customers. The Pyramid Club idea also attracted a glib throng of amateur and professional confidence men -there were numerous ways of sidetracking money during its hand-to-hand progression toward the top of the pyramid. In Detroit, Assistant Prosecutor Ralph Garber said: "There are enough innocent people winning from $800 to $1,500 to keep the chain process alive. But I have yet to find anyone who has won the $4,096." But newspapers which warned against Pyramid Clubs or prosecutors who tried to break them up, quickly discovered that the pyramiders had no wish to be saved...