National Republican., 1883-02-01
rnE BOON 1N nLAcKv111n.

New York Show the Inhabitants the
Beauties OF the Corporation system-The
"TrnnsntInntio BootbIack and PoIish-
ing Company" and "The Great Cooper
ative Watermelon Syndicate"
London Pdntdordph
Our American cousins have q queer way of
doing things, so our foreign correspondent
tells us
About week ago found myself in Old
Diapers barber shop in the town of Black
vile, Miss.
Blackville looks very dull" I remarked
to Draper, while waiting to get shaved.
Eyes" said the old man, ode town used to
be right smart, but just now it resembles a
secondhand graveyard, all on account of dc
speculative fover dat broke out here year
ago. About dat time a smart, wel-dressed
Baptist northern colored man dropped down
from Chicago. He painted dc enterprise and
progressive spirit of de Chicago people to
our colored folks in de most glowing colors,
and hattered our people dat Blackville, next
to Chicago, was the most promising place in
de country, and dat Blackville's location, on
de Mississippi riber, was superior one, and
moro advantageous dan st. Louis. Dis Chi
cago coon was very smart, and 1t only took
him q few days to convince de niggers in
| Blackvillc dat dey ware all destined for mill
ionaires. When | shook my head and looked
dubious on de schemes, dis Chicago colored
man said:
"Old niger Draper is crank"
"Eph Henderson had tw0-chair barber
shop, and was n teacher in de Sunday school;
de epidemic of speculation struck him, and
he was de first one to drop into Incorporating
dc 'Anglo-American Tonsorial company,
capital, 100000 Next came Glenn johnson,
a respectable whitewasher, who organized
The Tropical Whitewash and Wall Deco
rating company, capital, S50,000.' Then JEFF
Brown followed with The Consolidated Pea
nut Vendors. Protective union, capital, $75,-
000.' Then Dan Gilbert, an industrious
colored man over at the Andrew Jackson
hotel, n Methodist deacon, Clipped in with
The Transatlantic Cooperative Bootblack
and Polishing company, limited, S6O,O0O.'
Then Jerry Bell organized The Oriental and
| Occidental Watermelon syndicate, with u
capital of 100000 These companies organ
| ized and gave 80 per cent. of their stock to
de Chicago colored gentleman for his services.
| Everything commenced to boom in Black
| vile. Every niger dat owned patch of
ground commenced. Grading in stocks and real
estate. Why, sab for dis old shop on dis
quarter acre ground, which only cost me $75,
after dc war; was offered by dis Chicago col
ored man $4,000 in stock. You just ought to
see dc niggers stepping around Blackville.
Dey called each other general, major, and
colonel, just like white folks, and de women
people were corresponding with Oscar Wilde.
Why, sab dem Niger people Stunned Old
Draper, when dey met him, Just as if he was
a hoodo. Well, you see de companies organ
lied, and sab, it would break you all up to
hear dem niggers talk Of der bonds and stocks.
Dey made de Chicago coon treasurer of all,
and Mt the first meeting dey voted to assess de
stockholders l per cent. to pay de Chicago
coon's expenses to New Orleans to place de
stocks. He took de night train, and Black
| illuminated honor N
parture To make u long story short, Mr..
Chicago coon carried away with him 81, 500
of BlaClSville's funds, and never returned, for
dc reason he took vacation and went to
Europe. Some of de niggers said he defaulted,
just like q white man.
| Next came q New York dandy darlSey He
was a retired .janitor from Wall street, and dc
way he could talk bonds, syndicates, reorgan-
| ization, funding debts sinking fund, common
and preferred stocks, was "a sumner to de
Blackvillo capitalists. You see after our
Blackville folks owned stocks they become
capitalists. 1t wasn't long before dis New
York darkey had de doings OBJ de Chicago
darkey all by heart. But he had retired and
did not wish to be bothered with any business
complications, but suggested q plan of re-
organization by consolidating all de interests
under one head, on dc plan of de Wabash sys-
TEN, whatever dat is, which he learned in
| New York. Well sab, he had q receiver ap-
pointed for all de companies, and got de courts
| to sell dem out to dc bondholders. Den he
| formed dc Great Interstate Loan and Trust
Company syndicate wiped out all de old
| stock, and made every one of dose fellows
rich by placing all der little homes in der
company and issuing six millions of preferred
stock to take up de old bonds and to pay him
60 per cent. of dis stock for his extraordinary
ability ms fnancier. Then to boom up de
stock at meeting, dey voted n script divi-
dend of one million dollars, to be paid in stock
or future earnings, at de option of de holder.
Dis was regarded by Eph Henderson, Glenn
Johnson JEFF Brown, Dan Gilbert, and Jerry
Bell as u mastery exhibition of financial
policy. Den he voted to mortgage do COM
pany's real estate in Blackville for 5000. 1t
was fun to see desc darkey millionaires pledge
their stocks wild dem two sheeny merchants,
| Meyer Roscnbaum and Solomon Isaacs, for
dry goods and groceries at prices dat would
put an honest blush on de confederate war
sharks. De only difference between confed
crate money and de stock is de paper ON which
de stocks am printed is heavier, and when
you sell to the rag man you have more paper
for sale. Well, sab, de big stock dividend did
de work. Every niger in dis congressional
district bought stock on credit at 95. Dey
had big doings, tell you. Dey closed de
coored school house, and in it established
stock exchange. Den dey talked about inter-
nal improvements, streets, parks, boule-
wards, and whole rows of handsome business
blocks, and costly residences were built on
paper. Dey built about fifty manufactures
lin der minds) and, for while, everything
was lovely in Blackville. But, sab it was u
dark day for Blackville when de drouth struck
us, and de great staples, de watermelon and
peanut crop was total failures. 1t was den dat
dcy realized dat dey had expanded too much,
and de consequence was, Great Interstate
Loan and Trust company defaulted in July
interest, and financial panic, like a genuine
South American Pacific coast earthquake shook
Blackvilo from stem TO stern, Well, sab de
New York colored gentleman hypothecated five
Thousand dollars of the bonds in New Orleans,
with the company's Blackville real estate as
security, and he is now enjoying brief respite
from labor in some country where dc eXtradi-
tion treaty does not reach. You see dat group
of five seedy looking darkeys holding consul
tatiOn around dat empty sugar hogshead?
Well, dat is deir Office now, and de company
is in liquidation. Dey are what is left of de
great BlaclSville Interstate Loan and Trust
company, capital, $6,000,0O0. Dey have just
resolved to petition congress, requesting dat
honorable body to pass n relief bill for dem
and also remonstrance against de passage of
de Lowell bankrupt law, as it is calculated to
ruin credit and destroy confidence, and with
out confidence dey can't float de stock and
bonds of dc Great Interstate Loan and Trust
company and without credit dey can't trade
any more at Meyer Rosenbaum's and Solomon
lsaaos' dry goods, grocery, and liquor stores