St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-09-05
FOOLS AND THEIR MONEY.
Delegates From Capital-Aspirin,
Towns Confess How They Wer

Delegates From Capital-Aspiring
Towns Confess How They Were
Duped.
Special to the Globe.
ABERDEEN, S. D., Sept. 4.-Delegates
from all the capital-aspiring towns ex-
cept Pierre, met III secret session here
this afternoon. Each related his expert
ence with 1.-The Woonsocket Invest
ment Company" under pledge of
secrecy. The secretary was instructed
to make full notes and divulge nothing.
The minutes of the meeting, which were
found by GLOBE reporter, were as fol-
lows: The motion for absolute secrecy
was carried unanimously. One of the
delegates from Watertown related that
the directors of the investment COM
pany claimed to control many Thousand
votes, which they could deliver
for consideration, to be paid
TO the company with several
thousand dollars on the side for its
directors. Arrangements were made,
and Watertown's solid, and prominent
citizens were wild with glee. Sioux
Falls representatives claimed that the
investment company said that it had
100000 in cash to invest in Sioux Falls,
and was ready to let in the Sioux on
the ground floor. Chamberlain and
Mitchell asserted that the directors
made big showing and then told them
on the side thatthe property terms would
have to be modified. The directors
could pay no money down because they
had been to great expense. They
gave towns fully to understand Oh the
quiet that they mad no money. Bids to
be successful must be made without
money consideration. Each town mod
fled its bid to suit this demand.
Mitchell, Huron, WatertOWn and Cham
berlain stated that the directors of the
company represented privately to each
that five directors would be given the
town, but
A PRIVATE ARRANGEMENT
must be made for ten directors, includ-
ing secretary, treasurer and manager.
Each town was informed that there
must be side deal of $4,000 for
present to the directors. The towns
might make it as much more as they
saw fit. The more money raised the
better their chances would be. The
company refused to state how much
stock had been sold or how many stock
holders it had, but the number ran into
the thousands. The company had en-
plOyed agents, notably Baker, of Woon-
socket, at $3.50 per day, to place stock
where it would do the most good with
out consideration other than pledge of
the votes of the recipients and their in
huence. The company claimed that so
much stock had been given away that
they had no money and borrowed
to pay expenses. One town made ar
engagements for six directors as sure
thing. Huron stated that when they
withdrew their bid the directors urged
them four to stay, representing four Of
the directors were for Huron. The di-
rectors had then made arrangements
with Pierre. The sheriff of Duluth
WAS GIVEN A POINTER
and bought Pierre property. Others
were privately informed and bought
tWenty-four hours before the so-called
decision was made. AS soon as the de-
cisiOn was announced the directors
urged their friends to buy in Pierre. Ar
rangementS had already been made to
Mitchell expected to be chosen, one of
the directors took Mitchell man aside
and asked him to bet against Mitchell
and divide. Grim spectacle. Repre-
sentative men of all towns were sitting
on the sidewalk cooling their heels until
morning waiting for decision made
days before. One man from Pierre had
money in the bank. He paid it that
night to the directors, and had sure
thing. Towns unite in saying they
were duped. They now bind them
selves to stand together by solemn
resolution and rebuke the successful
sinners.