The Portland daily press., 1891-12-31

" TO me Cn6 ObQ6r day.
'You think that You
have pretty clear idea of the tricks
and schemes resorted to by cranks and
scoundrels."
l modestly admitted that such was
the case.
"Well, you don't hear of a fractional
percentage of funny things and the dar-
ing attempts at robbery which occur
in the large moneyed institutions very
day. Cranks and sharpers fit about the
big financial concerns like flies around
molasses barrel, and the schemes they
concoct to get taste of the carefully.
guarded treasure within would fill a
book.
Attempts at blaclSmal are everyday
occurrences; begging on the most curl
ous pretexts and schemes for invest
ment of the widest sort come to us
every hour. Il would seem that very
large portion of the community had de-
termined to make living without
work, though if the same industry and
patience were turned into legitimate
channels the swindlers might make
fortunes. AS it is, very few of the at
tempts are successful, though they
sometimes manage to give good deal
of annoyance. The stronger companies
have adopted the policy that it is
cheaper, in the long run, to fight than
to pay blackmail, and with the re-
courses at their command their fight
ing is generally pretty effectual. You
remember the Williams case," added
my friend.
because it so happened that was mixed
up in it. One day seedy-looking per-
sonsge drifted into my Office and said
that he wanted reliable newspaper
man to go into partnership with him Ia
the sale of a great newspaper sensa-
tion. He had the facts, he explained,
but as he was ignorant of news
paper methods he wanted an expert
enced man to write the story and dis
pose of it to the best advantage. He
strongly urged me TO essay that part Of
the work myself and offered me half
the proceeds.
"What is it?'' / asked.
W HAdV WOAIu q ScuSdblOu U0 WOTUu
that would expose the rottenness of
four of the greatest financial institutions
in the world and compel them to stop
business?" was his reply. immediate
ly jumped to the conclusion that the
man was crazy, and answered, careless
ly: "Ten thousand dollars"
He did not seem at all taken aback by
the figures, but plunged into an explain
alton. He had what he called ''bird's-
eye" showing the business of the Mu-
tual, the Equitable, the New York and
Connecticut Mutual Life Insurance
Companies. There ware four charts or
tables about four feet long by two feet
wide, covered closely with tabulated
figuring in colored inks. Referring
from time to time to bis charts he told
me the most extravaGant yet convinc-
ing tale of official crookedness / ever
listened to. When be had finished 1
told him to call again as / was not pre-
pared to shake the financial fabric of
the world to the extent he proposed
without thinking the matter over.
Then hied me to an insurance expert,
friend of mine, and retailed so much
of the yarn as could remember. As I
proceeded with my tale my friend be-
came first mirthful and then hilarious.
At last he gasped:
$50 you have struck Williams, have
you? / thought he was dead. He has
been driven out of nearly every large
city in the union, and / am surprised
that he dares to turn up in New York.
However, don't worry about him. He
is harmless crank. His scheme is to
break up all the big companies and then
assume their liabilities and reinsure
their pollcy-holders in company of
which he shall be the head. He is a
splendid actuary, and the way in which
he can juggle insurance figures is sim
ply surprising"
The next time Mr.. Williams called
told him bluntly that wanted
nothing to do with him or his
scheme He floated out into the silent
night, but l was obliged to show him
up few days later when found that
he was using my name as an introduc-
tion in the various newspaper Offices.
In looking up his record found that he
had been engaged in this same sort Of
work for seven or eight years.
There is, as matter of fact, very lit
tie to be Exposed" in the management
OF the large financial corporations.
They are so closely watched by SO many
thousands Of eyes that any real crook
edness is practically impossible. OF
course they all, occasionally, make un-
profitable Observation-Disclosures business
man does not? But in the main they
are wisely and iudiciously managed.