Money chain "letter". Pyramid scheme. Pyramid
club. 10 names. Couples. $2 ante. Description only. US, 1953.
[Say you and your wife or you and
a friend, just as long as you are a couple - receive a telephone call asking
you to join the club. You accept. You go to the house where a "pyramid party"
is being held, and you each pay $2 to join.
Your names are placed at the bottom of a pyramid of names, which contains
On the following night, you meet at the home of the name which is number
nine, or next to the bottom of the pyramid.
But this time, you take two other couples whom you have invited to the club.
Those four people each pay $2, and their names are placed in four new pyramids.
They, in turn, bring four new members to the next meeting, and in this manner
a number of other new pyramids are started.
It is in this manner that the organization expands at a rapid pace, and it
is this method which provides for the huge returns on the small investment.
As each person reaches the top, or number one position of the pyramid, the
person holding the 'party' for the night calls him to come by and pick up
his money which may run as high as several hundred dollars."]
Published: The Daily Times-News (Burlington, North Carolina),
Oct. 10, 1953, p. 2.
'PYRAMID CLUB' IN OPERATION HERE TERMED ILLEGAL BY POLICE
"The 'Pyramid Club', a game of chance which has been sweeping Burlington
during the past few weeks, appeared to be on shaky foundations today as an
announcement from the Police Department indicated the club is illegal.
Police last night and yesterday afternoon were swamped with telephone calls
from local citizens inquiring the status of the game which sometimes pays
as high as $300 for a $2 investment. Desk Sgt. J. T. Winningham said he had
received between 40 and 50 calls in a matter of five hours yesterday.
. . . Information from club members substantiate a conservative estimate
that at least 500 people, possibly more than 1,000 are members of the club
in this area. One report indicated one member has received $1,500 for the
original $2 investment. The Pyramid Club operates on the following principle:"
Entered by DWV, Aug. 28, 2014.
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