The Plymouth weekly Democrat. (Plymouth, Ind.) 1860-1869, 1869-01-28
How Some Joint Stock Companies are
Formed.
Written for the Cincinnati Chronicle.


COURSE these hard times. The ques-
ton now before the house, Mr. Sharp, is,
how we poor devils can manage to raise
the wind and it is more puzzling to me
than ever the pons dSan0runs of Euclid ap-
peared to the dullest typo that has essayed
its solution since it was published to the
world. What can we do?"
"If such question forces itself upon
Semmy Ford, the times are bad indeed, y
responded Bill Sharp. ave must try some
thing new"
"There's nothing new TO try. Every
thing is exhausted. haven't an expedient
nor resource of any kind left. We have
attempted all sorts of lodges; engaged in
magnificent gift enterprises, in which
every ticket drew valuable prize adver-
tised dollar stores, in which gold watches
worth from 800 to $500 were the princi-
pal stock in trade; pulled and blowed
Professor Soph's Magic Cureall till the
gudgeons will bite no more; offered THE
Secret of a Certain Fortune for fifty cents
till that has entirely played out; proposed
to send sewing machines for $40 that are
better than either Wheeler & Wilson's or
Singers, till the receipts scarcely pay the
advertising bills, (which, to be sure, is the
| only expense we incur in that matter)
| and what we haven't done that honest men
are justified in turning hand to, it is i'm
possible for me to discover"
$50 you think you have tried every
thing?"
Everything that gentleman can con-
| sistently engage in"
"But you have never formed a Joint
stock company"
Correct, Bill"
"And it's good spec, when properly
managed"
Unquestionably. You're an angel for
the suggestion. A joint stock company is
happy idea, and there's money in it
but, my dear boy, what shall be the dodge
What shall it be formed TO operate? In
what shape shall the little arrangement be
introduced to the dear people ?"
"That will require thought. In mat
| ter of such magnitude we must move with
becoming deliberation."
"But we can't wait, you know. We
have pressing need of ready cash, and
must move at Ouce."
"Well what say you to Lead Company
in Kentucky, or Coal Company in West
Virginia?"
"The Lead Company, by all means
That is more speculative, and we can show
it up in magnificent style in a prospectus
1t will work to charm, sir. We will
have the Kentucky e. Ohio Lead Com
pany chartered by special act of Legis
lature; capital stock, $1,250000! l know
| a tract Of land on the Cumberland river,
| of about four thousand acres, that can be
| bought for song; and then, as these mat
ters are ordinarily arranged, turned over
to the company at heavy figure. Bill,
| we've struck a fortune; we're all right p
~ go halves, Of course"
"Most assuredly. The idea is yours
Wen work it up III partnership, and then
divide the spoils I'll draw up the charter
and write prospectus, and we'll have
matters comfortably under way in ten
days. Cad the simple idea makes me
feel like nabob."
| In less than ten days the charter was
passed by the Legislature, approved by the
Governor, and, printed on The same sheet
with flaming prospectus, mailed to thou
sands of capitalists and business men III
Kentucky, Ohio and Indiana The shares
that were nominally valued at $50 each,
were offered, "to a limited amount" al
$40, with the assurance that within six
months they would command premium
in the market. Applications came pour
ing in faster than they could be answered
The Office Of the company was crowded
from morning till night by people who. ir
their eagerness to invest were not particu
lar how rudely they jostled each other
and it was reported that small man, from
Madisonville, paid considerable bonus
for the chance OF broad-shouldered indi
vidual who had elbowed his way 10 th'
bsssk II rp,ta Of ell cfstRcless and wh'