Yellow Kid" Weil

The police and the daily press have estimated that I acquired a total of about $8,000,000 in my various swindles. They may be right. I never kept books. Much of that money I made before there was an income tax law and a man could keep all the money he got.

People are curious as to how confidence men spend their money, as well as their leisure. Between victims most con men spend their time in dissipation. If one makes a big score, he throws a party for his friends. Even at such parties the con men play different roles.

On one occasion Buckminster completed a deal that had brought him $15,000. He had a lot of friends who knew him as a financier and had no idea that he was a swindler. These included prominent brokers and real estate men. He had a beautiful home on the North Side and decided to give a lavish party. He invited his prominent friends, and also invited John Strosnider and myself.

To these friends, he was Mr. Kimball of the Kimball Piano Company. I was introduced as Dr. Henri Reuel and Strosnider as Mr. Hagenbeck of the Hagenbeck-Wallace Circus. It was a nice party, where wine flowed freely and the food was excellent.

Strosnider was a peculiar fellow. He was exceedingly proud of his accomplishments as a swindler. About halfway through the party, when he had imbibed considerable wine, he began to say: “I’m not Hagenbeck. I’m John Strosnider, the great confidence man.” He staggered through the house, telling this to the guests. They began to get their wraps. Within a few minutes most of them had gone. That taught the Deacon not to invite Strosnider to any more of his parties.

Buckminster was different. I think he was a little ashamed of his background, for he never liked to talk about it. I think this desire to get away from the con man atmosphere was the reason he often gave parties for people who had no criminal connections.

Other con men do the same. They are different from other criminals in that few ever resort to violence of any sort and most of them are better educated than those in the other categories of crime. They consider themselves smart and like to mingle with a better class than can be found in underworld haunts.

Nearly every con man is a sucker for a pretty face and a neat figure. That often resulted in revelries which ran to considerable sums.

But, even with all this free spending, most big-time con men have plenty of money left. How they lose these fortunes sounds incredible, but I can cite actual experiences.

There is a widespread notion that a clever swindler could be a great success if he turned his talents to legitimate channels. I say nothing is further from the truth, for when a con man invests his money in a legitimate business he loses it.

Buckminster, Strosnider, and I invested $25,000 each in a lease of the Hagenbeck-Wallace Circus. Hagenbeck was a German, widely known as a sportsman and big-game hunter. The animals for the circus were captured by him - or at least, that is how the menagerie was started. Wallace was a wealthy American showman. These two organized the circus but had nothing to do with the running of it, for they leased it out on a yearly basis. In addition to the original investment, the lessee agreed to pay a guaranteed amount for each day of the circus season.

Shortly after we took it over, there were twenty-two consecutive nights of rain, and the losses were terrific. People don’t go to the circus in the rain, but the overhead and the daily guarantee to Hagenbeck-Wallace went on. We were actually licked by the time we had some fair weather. We tried to carry on but didn’t know enough about running a circus. Before the season was half over we had to surrender the franchise and had lost $375,000.

Buck and I were broke, and so had to find a prospect for a con game. But Strosnider had saved a little money. He fancied himself a good showman. He spent $6,000 for a dog-and-pony show and tried to operate it. He lasted a few weeks and then lost the little he had salvaged.

I put a great deal of my money into Chicago real estate. There was a time when I had property valued at more than half a million dollars. All of this had to be sold at a loss.

Then there was the yacht. The Penguin was really a luxury cruiser. I bought it for pleasure when I had a lot of money and did a great deal of entertaining on it. At that time, too, I had a penchant for expensive imported motor cars. I bought several in the $10,000 class. They cost plenty to operate and more to keep in repair. Between my yacht and my cars, I probably had as much luxury expense as any man in Chicago.

Buckminster was similarly given to luxury living. He too considered Chicago real estate a good investment and bought income property in the Rogers Park district.

But his weakness was women. A woman much younger than he induced him to file the title to his car in her name. I pleaded with him.

He refused to listen and transferred ownership of the car to her. He had already given her a luxurious apartment in one of his buildings. Then, in 1926, when the heat from one of his deals became uncomfortable and he was likely to be sent to prison, she talked him into turning over to her the title to all his real estate. Her argument was that if the property was in her name, nobody could touch it, even if he were sent up.

Again I tried to point out that he was being victimized. But he would not believe it and made over his property to her. He was sent up, and as soon as he had been safely put away she sold it all and deserted him. When he came out he was penniless.

I was lavish in other ways. I had the highest priced tailors in Europe and America and amassed a wardrobe of fine clothes. But this I have never regretted, because these clothes are still presentable.

In the main, though, I lost my money trying to be a legitimate business man. That’s the way most other con men lose theirs.

It takes a great deal of boldness, mixed with a vast amount of caution, to acquire a fortune. But it takes ten times as much wit to keep it.

The notion that any swindler would be a great success if he turned to legitimate channels, is indeed erroneous.

Many people have told me they would like to use me in their businesses. But they always add that they don’t dare because of my reputation. For that reason I’ve had to take any sort of job I could get since I gave up the confidence game.

My most successful occupation has been telephone soliciting. I have worked for various charitable organizations, political candidates, and churches. Needless to say, I do not handle any of the funds. I merely solicit contributions and ask that they be sent to the headquarters of the organization I’m working for. When the funds are received I am paid a percentage.

I no longer have any of my ill-gotten gains and depend on this work for a living. But my wants are modest and I manage to maintain a home on Lake Shore Drive. There I can be near my daughter. Though nothing more spectacular than walking the dog happens in my life now, my peace of mind is very satisfying.