How a South End Bank for Women Only Is Conducted

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The reporter wanted to go in to the deposit and investigate it. When he went back, dressed up as a woman, he was led in. They told him what they told their other customers. In it, he called Sarah House a fraud. She claimed the bank was part of a Quaker Aid Society.

In the late 1870s, a woman named Sarah Howe started a bank just for single women called the Ladies’ Deposit Company. She asked new customers to tell their friends about the bank rather than advertising in newspapers, and she promised she could almost double their money.

Today, the story of the woman running a Ponzi scheme before Charles Ponzi was even born.

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Artwork by Julienne Alexander.

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