New-York tribune., 1891-12-20
THE GAUZIES7 OF SWINDLLS.

FLATTERING SCHEME OF THE NATIONAL
BROKERAGE COMPANY OF BOSTON.
Boston. Dec. 10 (specinl.-" The Evening Record
says The latest financial fake which has been started
In Boston and Is doing business, or trying TO- at NO.
81 Milk-st, Is known The National brokerage
Company. and advertises IN Its circular TO swindle
The public. Briefly The scheme Is this You buy
what the company is pleased to call brokerage
draft" 1t costs you 81 o5 The draft has ten cou
pons attached. II you are mean enough to do 1t you
sell one of these coupons, indorsed with your namc,
TO your friend, who takes the coupon TO Khe National
brokerage Company and buys q draft with coupons
attached which he tries to sell In turn TO his
friends, II he is mean enough. And it goes until
the circle OF friends Is exhausted, and the scheme
Is properly exposed, and then h the business has
been successful great many coupons will be left on
various peoples hands with nothing to show for It,
The National Brokerage Company acts the eatspaw
with their socalled drafts. Here Is the scheme briefly
outlined In their prospectus:
The company sells to any applicant brokerage
DRAFT wherein they agree II all the coupons are re-
turned they will pay TO the party designated therein
the sum of $40. The person purchasing removes the
coupons annexed and after lndorsng distributes them
among his her friends urging them to go or send
to the Office OF this company with 81 % and purchase
draft. Should the entire number Of coupons given
away be returned TO within sixty days accompanied
each by 81 25 then pay to the holder OF such
draft the of So or, In l0ther words, all
the money received from his friends, except negotia
ton fee Of o5 cents each draft. Should part only
Of the coupons be returned In sixty days. then the
holder Of the draft receives the of 81 for each
coupon returned. Pause all and consider this
well before casting 1t aside Fortune knocks at your
door but once This is your time"
The idea Is so gauZy, so transparentT idlotic In
conception, that II would be hardly worth while to
notice 1t II hundreds Of people might not be caught
through carelessly going into it, they did In the
short term orders which have funked out. Look out
for the catspaw National brokerage Company
Record" reporter who thought OF" investing In
draft called at the office at No 81 Mlk-st., and
shown printed certificate with the coupons attached
fingers and voluble tongue described the scheme
with fuency. His name is Woodbury.. Then there Is
fellow named Duncan also, who puts in
and then. He Is n big, red-faced, sandy y-mustached
man. When the reporter asked Woodbury. what In
ducements a mans friends would have to buy
coupons he said:
SOS his friend could sell em and make $40 him
self"
How about those who hold coupons when the
thing gets TO the end of its rope :"
Oh, well-er-that Is, WELL OF course, the fellcr
that gets out first and sells the most coupons Is
the man who Is going TO make the most money" . .
Il guess I'll take little time to think OF It.
remarked the reporter
Then Woodbury. offered to start the reporter ont
had declined, though this only an inducemont
for n bright to begin work." The Records
young man did not want to give them the price
OF drinks, though the draft Is quite nice paper
green ink. The Office is shabbily furnished and cor
responds with the cheapness of the fake 1t harbors