The Republican. [volume] (Oakland, Md.) 1877-current, 1880-02-07
The Skin Game Bankers.
Now that the business of tho


to contemplate the grief of the moor
dupes who have lost their money by
yielding to the inducements of the
swindlers who promised fortunes in re-
turn for ten-dollar investments. And
yet the very simplicity of these unfor-
tunate people, as indicated in their let
tiers, has a vein of the comical in it
which irresistibly appeals to the mirth-
full side of human nature. The CORE
| spondence of the swindlers has been
confscated, and presents various,feat-
ures of interest. By the courtesy of Mr..
Anthony Comstock large quantity of
it has been placed at my disposal for
examination and study. From several
wagon loads of letters l select few
which may serve to show how the busi-
ness was done.
As usual with "skin'' games, the
patrons of the bogus bankers were
principally from the smaller and rural
post-offices from Canada to Texas.
Some, however, hail from the larger
cities. The President of savings bank
in Southern city sends 300, follow
ing it few days later by $3.50 more.
This was comparatively large sum to
invest. The general amount of first
Investment was ten dollars, which was
in some instances followed by sec
ond investment of ten dollars or
twenty dollars more. On receiving q
new patrons first ten-dollar invest
ment the rascals who received it would
write him to the effect that, although a
moderate sum might be made from this
beginning, much ampler fortune
would follow on the investment of twice
or three times as much. The answers
of the dupes to this request for more
money form museum of curiosities.
/ Take, for instance, the case of victim
who begins on a ten-dollar bill. His
first letter is a mixture of confidence
and caution:
81 have been reeding little pam
plet you send me short time ago, Civ
ing histry of the way to oprate on
Wall st! in stocs. You almost garanty
to max a profit, no mattr how small the
investment is. Do you secur the stoc
at the markt price, or at firm l to per
cent what is called distance?''
This poor fellow went on to say that
his means were limited. So the swim
dlers, knowing their man, wrote to him
for ten dollars more. He seems to have
sent this second ten after some delay
and considerable difficulty in raising so
much money. The letters of patrons
who send their first remittance with
which to commence operations are gen.
orally hopeful and indicative of an in
tention TO engage in larger transactions
in case the trial speculation should
prove remunerative. To people who
held out this idea so strongly as to
amount almost to promise, the "bank-
ers'' would send word that the opening
"spec" had resulted in a profit. In
rare instances they were bold enough
to remit a few dollars to the victim.
Generally, however, they took the lib
erty of reinvesting the suppositious
profits and writing to the victim that
they had done so.
Here is a letter from Kentucky
speculator, who had received informa-
ton of a " reinvestment'' and with it a
request to send $40 more:
% Your proposition is very liberal
one, much more than / could ask of
you. But as l set out to invest only
this $40 this time await the cash re.
suit of it before l make any further
move. If results are reasonably good
l expect 10 hang on to you to the last
day."
Well, the " last day. has come, and
the luckless Kentuckian is probably
hanging ON yet, for his investment
is permanently chung up"
An Ohio man in sending his first ten
dollars writes:
This is very small beginning, but
tits said tall oaks from little acorns
grow. Trusting to your long expert
ence and good judgment, 1 hope this
widows mite may take root and spread
its branches until it becomes hercu-
lies in your hands. Imade an invest
ment short time since and lost all.
But exercise your own judgment and l
will be satisfied"
This is the sort of customer most
highly priced. The above was written
on the 21st of last November. Allen,
Jordan q Co., seeing his great faith
and complete prospective satisfaction,
at once wrote to him for more money.
On the 2Sth of November he wrote
again, inclosing 800, and saying:
Manipulate it as you suggest, and
it will be satisfactory. Idesire staying
in your combination or syndicate as
long as there is anything to be made by
doing sou
Exactly. He is there yet, beyond a
doubt. His "widow's mite took root,
but it has never "spread its branches
very widely, nor is there any probable
ity that it will ever become her.
culies."
A sanguine investor from Western
New York says: "Please remit my
profits every thirty days" Another
from Ohio directs; I" Use this in your
mutual syndicate until it has multi
Piled" A Pennsylvania dupe writes:
~ would like to hear more from that
$40 sent you before l send you an
other dollar" A Milton man says: 81
leave it all to you, to do with it what
in your judgment may be for my best
interests" A Reading man, on being
asked for 800 more, sends 1926, which
he says is all he can spare. He adds
3" If you will accept this l will consid-
er it special favor" The thieves &C
cepted it, always having a relish for
such especial favors.'' An Ohio doc
for cove.