Raftsman's journal. [volume] (Clearfield, Pa.) 1854-1948, 1865-11-29
A NEW OIL SWINDLE,

| 1t has been generally conceded by the Or
thodox that the devil pursuesh is nomination
galnst tie happiness and virtue of mankind
IN systematic, though mysterious way
but that his science is not utterly occult ha.
been repeatedly proved But if his S.nfu
Majesty ever does come near to impenetra-
b!e mystery, his theater of action is assur-
ed by the stock market of New York He
| there appears La all guises, under all circum-
| stances, aud IN the utterance of many
tongues. The fabaed Proteus was immuta-
BILE and gulleless in comparison. We have
| outgrown the SERPENT trick, which so etfec-
tually pulled wool over the eyes of our first
parents. And probably aware of this fact;
from the signal failure ofthe ''Copperhead
subterfus during the recent war, the Evil
one Is equal to the exlgencies of the times.
fersever1ng and ubiquitous, he appears
in the stock market in a hundred shapes
and on hundred pretenses, but ever way
ing his magic wand which turns the paving
stones into ilusory gold, or brims the gut
ters with deodorized petroleum, as the case
may be. A case Of peculiar intricacy is at
present slowly coming to light in the Supe-
rior Court
The case made its first appearance in
court last Tuesday, before Judge Garvin, in
the Shape of Charles Fl. Carr and others a.
ganst Henry r. Kendall and others. The
first witness whom the prosecution called to
the stand was the principal defendent, who
was perseveringy pumped ior about two
days, to the intense interest of a crowded
urt-room, and with results of the most
vlllainously complicated character. The
mysteries of wildcat stock brokerage
were revealed to an extent which even open
ed the eyes of old operators Some time
ago pseudo stock company made its debut
n the petroleum world under the title of
tise Live Yankee Oil Company, and under
auspices whose speciousness would have
won the heart of Montagu Tigg and tempt
ed to perdition far shrewder men than Jonas
Chazzlewlt. Its capital was only a quarter
of million, but it was based on leases for
80 years on 1900 acres Of land, which, of
course, were SO instinct with precious oil as
to be utterly unfit for ordinary cultivation.
The brooks were pure petroleum and the
night-dews unctuous. The grasses and
weeds ofthe field were SO many candle wicks,
only requiring ignition to illuminate the
world a match applied to the oil perspiring
trees would create a bonfire which would
cause the sun to hide his diminished head,
and all the water melons and pumpkins
that sprung from the oleaginous soil were as
fuil OF oil as green cocoanut of milk. ct
this vast tract of precious grease, which
might become so pregnant of peril to the
universe, merely needed enterprise and
quarter of million to become an enduring
benefit to mankind, and a mountain of gold
to the happy possessOrs of the Live Y an
kee" stock But, sta ange as itmay appear,
the majority of stock brokers did not view
these gigantic prospects in the same light,
and from S. per share the Live Yankee
stock declined the five cents But the en-
terprise was in the hands of dauntless men,
who, with laudable perseverance, determin-
ed to benefit the world and fatten their
pocket books in spite of adverse circumstan-
ces
In he midst of failure they did not per-
NIT themselves 10 be overwhelmed, but phil
osophically inquired into the cause. They
came to the conclusion that on the name OF
the company the disaster hinged. They
could not but acknowledge, in their utmost
hearts, that the title of Live Yankee had
something of the catamount flavor they
would start anew with name that would
awe and conquer. The conception was but
the swift precursor OF the deed and the
Napoleon Oil Company arose phenix-ii like
from the ashes D. the animated New Eng
lander, with prestige and luster which
recalled the sun of Austerlitz. Although
based upon only one-third of the property
Of it's unfortunate predecessor, the Napole-
an Company, with royal disdan for petty
figures, was composed of S0O,0 900 shares at
S5 each, with nominal capital of 81, 500,-
OOO
A large number of gentlemen We're en-
gagged in the enterprise, but the principal