St. Landry democrat., 1883-02-17
The Bogus Commission Business.

Speculative ventures on the Board of Trade
have become. SO popular and SO common
among persons of means that poor people are
beginning to take hand in the business and
to try their luck in a deal on margins accord
ing 10 their means. The revelations that have
recently been made in this city of the opera
ton Of two or three bogus comm ssion firms
will convince the public to what extent coop
erative gambling is carried on.
Thanks to the watchfulness of the Post of
flee Department, the fraudulent Transactions
OF these bogus firms have been exposed, and
thanks to the evervigiiant newsp ipsrs for
putting the unsophisticate1 upon tn ,ir guard.
1t has been estimated that at least S 10000 has
been sf1 received by thes firms by
mail and express during the past
six months, and no doubt their
receipts in the aggregate will amount to much
more than that. Their mode of operating was
very simple. and appealed Mt onca to the GU
pidity of their correspondents. 1t was simply
to induce Tom, Dick and Harry in the country
to send in five dollars, ten dollars. or any other
sum that they were willing to invest in a big
pool that was sure to realize big thing forthe
investors. The smaller the sums sent the bet
ter, and the more scattered the correspondents:
the better for the sharpers engaged in the
swindle, because the small contributors were.
less liable to make them trouble in the final
outcome than if the donations had been larger.
In this way cooperative gambling can be car
ried on to any extent and on grand scale, to,
the great profit OF those who receive and ham
die the cash.
The scheme had many merits as first-class
swindle, It held out the delu sive promise to-
make little money for the contributors by a.
lucky turn Of the wheel of fortune (which al,
WAYS turns in favor Of the man at the cranky,
and the amounts were so small that nobody
was likely to make fuss about 1t ii things.
took an unfavorable turn on the board
And then, with the aid of adroit and unscrupu-
lous aceompliees. the books of the firm could
always be so manipulated that : heads win.
and tails you lose, and everything would APP
pear square on its face. These skillfnIrascals.
could have SO managed the business that they
could really have invested the money in mar
gins, and If they had been on the winning side,
could have kept the surplus, and showed their
customers that there had been loss. But the
probability il that no investment OF the sort
had been made, and that rreir immense re-
ceipts have been put where they will do the
most good to themselves. q
/. The whole shameful transaction makes
three things little palmer than they were be-
fore, to-wit.: ~ that the fool and his money
are soon parted; ~ that there is an almost,
universal desire to try ones luck in some sort
of speculation, and q; that the insutficiency OF
our laws and the loose method OF executing
them make such scandafous swindleS COM
parnGively safe odoubt, many poor men.
and even poor women, have contributed nve
or ten dollars. or more. to this general fund
who will never reveal the fact to any one, Dut
will bear the loss in Silence. not Wishing 70 Jet
their intimate friends know what fools tney
have been making Of themselves.-Ch ea9o'
Jour1ld. ,.zs