Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1865-03-11
eperats.ns an OH stocks.

The Spring 6eld Republican yentilstes the usr-
al Yankee way Of getting up petroleum com
p.ny after tins fashion:
A speculator goes to The oil region and buys
small farm. paying for il from three to ter or
ffteen thousand dollars Returning home. he
calls around him ies kindred spirits, takes
them into his confidence. Ress them 70 unite IN
organizing a company with $500 900 more OF
apf,aI puts in hi 10000 worth OF land against
essO 900 worth of stock snd divides that stock
among his bali dozen associates upon their pay
ing to him a corresponding sh re OF the purchase
money, and sets aside the balance Of The stock
3 20 be sold for raising money % be sqaaBdered in
real or pretended search for oil. These stock
= holders are known 10 brokers' slang az the bot
tom ring" The next step is TO procure few
Influential names to figure as officers IN htmlrg
= prospecfas. Deacons of churches bahk presi-
dents. provost marsbal- and eminent lavyers are
preferred for this purpose IL IS Indispensable to
the successful working OF the game TO interest
few persons well and fayorably known in the
neighborhood
II This b geperslly done By rrvafelv presenting
them with block Of S. 00O OF $40 QUO wofih OF
the STOCK, charging them with secrecy, aud then
using them TO refer 10 az upright and shrevd
men who have become heavily interested in the
= company. The principal duty Of these men is
= TO look very sise aud say but little when appeal
ed 10 by friends who get the oil fever, and at
Che same time modestIy intimate that their views
NAV be judged OF by the extent 10 Wncntn
have gone IN IL IL more difficult, and larger
rewards are necessarily paid. to obtain men of
suitable position and influence, and who are st
the same time willing TO risk the sacrifice of
character incurred by becoming president and
treasurer. IL Is not uncommon To bid high as
500 600 OF the stock Tor prominent man who
will consent 10 lend himself in carving out the
swndle. Several Boston gentlemen have been
$ offered rs high one fifth one fourth Of =
nominal capital of million dollars, free OF
charge ard accompanied with promise that no
part Of their time should be require IN the
vice OF the company. If they would only consent
To be known its president; the object being
simply u secure The influence OF their names in
carving the ssindies.
Oae OF the prominent business men of Spring
field had an offer of this sort If he wonld lend
hs influence such sheme of robbery here
The speculator thought S9rng field just the place
for bg petroleum company The genticm,D
10 whom tie chance offered declined it.
Whether any Of the pIffers and blowers Of pc
troleum stocks have been thus bought up the
purchasers OF stock had better irqnfe.
The final result of the winnie ming will be. n
few companies wilt 70 with the OIL business
and make reasonable pru6's: the knaves who
stocks will oil their Docke's. and hne tenlhs or
ninety nine nundr elths # all the Stockholders
will lose every dollar they invest. The aggre
gate loss will he counted BY millions. Our al
vice to th,se Who have the oil fever bad is 10
wai', coOl off. look sharp, and don't buy pg
In poke