Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1869-01-21

This 10 net the only occasion On which
Grant has svinccd his freedom ffsm the
spirit Of his party. Indeed. the fsrssisy
Of the Radical leaders, new that the war.
10 ever. contrasts very strikingly With the
magnaninisy u the men who did the fight
ing in il.
JOINT 0ToCR CopGPANlEs.
u1OW 0oao 0f then 0rO Formed.
A. illustration 81 0W1ndles
PsrpeaPaeeA BY Then.
Written fss ths Cincinnati Chrsniels.
Course these hard times. The question
ns~ before the house. M. Sharp, 10, how
- poor dsvils can manage - raise The
Wind and u l. mere puxzling 70 me than
ever the po~s ssisorum 81 Euclid appeared
- the dullsst tyro has essaysd 70 the
world. What can ~ do ?"
If such tqusstisn forces itself upon
Semmy Ford. the times are Bad. indeed"
responded Bill Sharp. I'VE must Try some
thing new"
"rhsrss nothing new TO try. Every
thing 10 exhausted. haven't an sxpsdisnt
nsr . resource Of any kind left. We have
attempted oil sorts Of lodges; engaged in
magnificent gift enterprises, Ia which every
ticket drew . valuable prize advertised
dsllar stores, ia which gold watches worth
frsm 500 to $500 we're tho principal stock
In trade; pu6sd ADD blewed Professor
Soph's Magic Cursalf Gil the gudgsens
will bite no more; offered TIE Secret Of a
Certain Fortune for fifty cents I'LL that has
H.
ing machines for 800 that are better than
either Wheeler 4 Wilson's or Singers till
,hs receipts scarcely pay tho Advertising
bills. (Which Ia be sure, Is the only expense
Ws ineur in that mattsr) and what we
haven't done that honest men ara justified
IN turains hand to. II is Impossible fer me
10 discover"
$50 vsu think ysu have trisl every
shing"
Everything tha. a gentleman can con-
sistsntly engage in"
''But you have never formed joint stock
company"
"Corrsst. Bill."
And itsa good spec. when properly
managed"
ALPHABETICALLY. You're an angel for
the suggsstisn. A joint stock company 10
ahappy idea. and there's msusy in il but,
nv dear boy, what shall b the dodge p
What sha,i Il be formed 10 opsratse In
what shape shall the little arrangement be
introduced to the dear people ~
That will require thought. In . matter
of such magnitude Ne must move with be-
coming dslberatisn."
"Bat We cant wait, you know. We have
pressing need Of ready cash, and must move
1t sncs."
We'll what say you - Lead Company
IN Kentucky, sra Goal Company in West
virginia."
The Lead Company, by all means
That is mere speculative, ard We can show
II up IN magnificent style in a prospectus.
IL Will work 10 n charm, sir. We will have
the Kentucky L Oa,o Lead Company
chartered by special act Of the Legislature
capital stock, 81. .o00r knsxatrac,
Of land, on tho Cumberland river, of about
1000 acres, that can be bought for song;
and then, as these matters are ordinarily
arranged. turned over &c the company 1t n
heavy figure. Bill, we've struck . fortune
we're oil right I"
''ru gs halves. Of course"
"MsN assursdly. The idea 10 yours
veil wsrk It up in partnership, and then
divide the spoils. In draw OIL the charter
and write prospectus, and veil have mat.
esrs comfortably under way in ten days.
Cad the simple idea makes me feel ike
nabeb."
Ia lsss than ten days the charter VA
was paced BY the Legislature, approved
BY the Governor, and, printed On the same
sheet with flaming prospectus. mailed -
shsusaads Of capitalists and business meu
in Kentucky. Ohio and Indiana, The
shares, that we're nominally valued 1t $50
ssch, we're offered, ito . limited amount"
AZ $40, With the assurance that within slx
months they would command . premium
% the market. Applications came pouring
In faster than they could b answered. The
office Of the "sempasy" Vas crowded freq
morning till night By people who, in their
eagerasss - invest, were net particular
he~ rsdsly they jsstlsd sach other and
Il VS. reported that . small man. from
Jacksonville, paid . considerable bonus for
the chance Or broad shouldsrsd individual
who had slbswed HE way to the desk in
spite Of oil obstacles, and who only
surrender to the small man after the mest
earnest entreaty, and the payment Of
geesnbacks ''in hand" Ferd was rieht
when he collected the Lead Company fsr
heavy business. and his management Of ito
organic ltisn proved him . very Napoleon
Of Operators"
Az this IL essentially true record, the
main interest Of whieh csnters in its
sxAcsnsss, the writer has bsen particular
70 ascertain tho gross amount Of cash
received for this stock, and finds it - be
$los,76o. Of which $1,000 vas paid for
real estate, and $4,000 devoted to the
working capitol. The sbsoluts central If
ses company was ssill left in the banda ~
10 projectors. for they held in their avn
names mere than half Of its stock and
amer paying accidental expenses, thev
divided cash proat Of csc, 900 q the
product Of very light labor during four
months. He'd their programme been made
On basis . little ieas liberal, the profit
would have been double this sam.
Ia this company more than enc nan
Invested the carefully bearded aavinss Of
years, and only % fsd. after few months.
that he had paid his cash for something
without value, and Intangible - dream.
Iswas the South Sea Bubble, with the
scale reduced.
In the past avs wears net LEES than Is
jesne stock companies have been organised
- CINCINNATI On no better basis thsu that
above Indicated. IL 10 cafe 70 state that
many Of them were projected with No other
intention than selling ont the stsek Il the
NEST It would bring. and thea abands ,ine
shssstsepriss The stock Of 10 isss, psrated
company 10 worth having, unless the
csopeoy courts rigid invsstigatieu Of ito
plans and resources; and il 10 certainly
sras that every project Of this sort places
it, stock On the market At less than par Il
open . lively suspicion. II 10 safe "a
bslisvs it Q swindls till il 10 proved
eshsrWiss.
In this age Of che world. with an active
csopstitisn in every branch Of industry
and the surprising advances Of science in
simplifying labor, No man should expect t.
grsv rich BY . miracle but every one
sheuld remember that the reward Of honest
.aad properly directed industry 10 ample
aaA veil assured. sad ssntsat himself with
seskiag fest1ns In the Legitimate ehanssll
of6AAs. GpSPrs.