The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1883-03-02
The ''Fund' Speculation in Massachu-

The "Fundr Speculation in Massachu.
6 sets.
ask F gs5
The chief topic OF conversation this
week has been the sudden and unac-
countable changes in certain business
places, and the collaspe of the Chicago
grain spectators expectations. Vari-
Gus reasons. are assigned for the bust
ness changes, and different people be-
lieve different stories. Some OF the tales
are scarcely to be credited, and it is said
that persons of whom they are
being told threaten to make the
gosspers prove their assertions. It
is to be hoped if they make the attempt
they will succeed, and not find them
selves in the predicament q certain
politician is said to have once found
himself. Returning home one night
in quite "a state of mind his wife
asked what the matter was "That
scoundrel Jones called me liar before
the whole meeting he replied 'sBut
that hadn' fought to annoy you." she
S id, t'for he couldn't prove it,
''There' the trouble, - roared the hus-
band, ''for he did prove it. The rev.
citation that has come with the closing
up of the grain swindling firms is rather
startling to people who little guessed
how the mania for speculation had per-
vaded our community. Formonths the
thing has been going on, and during that
time scores, aye hundreds, of men and
women, girls and boys have been drawn
into the seductive vortex and invested
from $40 to $500, in many cases their
little all, thinking to ecome wealthy
The history of the matter is but repi-
tition of the old, old story of swindlers
and swindled. A few months ago sew
eral persons received circulars from
Chicago parties relative to grain specu-
lations, purporting to show the enor-
nous profits made by shrewd purchas-
ers, explaining the 'siund scheme and
Offering the recipient 81 on every $40
forwarded from other parties. Most of
these people threw the circulars into
the fire, knowing that the scheme was
swindle. and only fit TO be classed with
cheap lotteries. But three or four took
it up and W. see the result to-day in an
aggregate loss of several thousand dol
lars. These ''agents or "fund
formers, p" took at first a few shares and
| induced their friends to do the same,
! on the Chicago mem promise Of twenty
five per cent dividends every three
months, and also smaller occasional
dividends. This promise was, of
course, kept for q time, and the
showing OF the divide d checks and
| profitable balance-sheets set lots of peo-
pie fairy wild to get into it. Men and
women who had $50, 800 or $500,
saved by years of hard work, made haste
| to invest ne man who put in few
hundred dollars, after getting his first
dividend check, announced that he had
given up working and was going to live
on the profits of his investment. Not
wilder were the dreams of the dupes OF
Laws historical Mississippi and West.
India colonization scheme, nearly two
centuries ago, than were those of oar
/ oyer-credulous grain SPECTATORS But.
they had similar ending. Not the
| least surprising feature is that quite a
number OF men were bitten who have
had the credit heretofore of +" HAVING
their eye teeth cut These excuse
themselves by saying they knew the
thing was fraud but thought they
could get their moneg back and more
with it before the scheme went up. A
business man who put in 5000 makes
no bones of frankly saying he has lost
every dollar of it. One of the worst
features of the matter is that even school
| pupils were induced to thus early in
their lives begin gambling. Led by one
OF their associates several high school
boys invested from $40 to $50 CHI,
and have lost nearly all of it. IF this
experience serves to keep them from
such things in future tie lesson has not
been too dearly pad for.
But the blame of this state of affairs
lies not wholly with these dgpes of Chi
| cage swindlers. Rather it falls on the
men of wealth and standing in the COM
munity who have for years made
speculative stocks considerable source
of pro6t-or loss They were able to
put up large margins in the New York
markets and frequently make quite a
stake, which they were not slow to tell
OF, but seldom let anything be known
OF their losses. Not many months ago
one Spectator told your correspondent
that he held s., 900, 600 worth ofyarious
kinds of stocks on margins, but he APP
parently has had good cause since to re
greet his investment Even the local
mining enterprise aided in fostering the
speculative fever, although that has
been conducted honestly and econom-
ically, and as yet has produced only an
assessment instead of hoped-for
dividends. This weeks collapse will
probably prove a.warning that is likely
to be needed for a long tine to come
against intrusting money to unknown
| firms who have no business rating and
promise enormous profits. : Westfcld
Chass) Cor. Springfield GLASS. Re
publican.
Important Legal Decision.
$50 you say he called you liar and
kicked you twice. Now what did you
give him back in return for these as
sets?' inquired the Austin Recorder of
the accused.
e just kicked him twice and called
him liar, was the reply.
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