The united opinion. [volume] (Bradford, Vt.) 1881-1970, 1891-12-04
COL KNOX ON BROKERS.
The Famous Texan Tells About the
Various Ktnds-Dr0kers Who Deal
Ia vaiuciess Propsrty-Why
They do II.
Copyright. 1917
Special Correspondence.

new IOfk, anu WnuL numDer OI tneLIl
there are. They represent all kinds OF
commercial and financial business
The real estate broker sells houses and
lands on commission. The stock broker
deals In stocks, also for O commission.
There are coffee brokers and brokers of
notes. You can find men who will sell, or
try to sell. anything on earth from crate
Of damaged oranges to their own immor-
tai souls. There Is ono whose business is
to sell saloons and another who confines
himself exclusively to finding customers
for those who want to sell hotels. There
Is the marriage broker who finds a wife
for any kind OF man and husband for any
sort OF woman, on an hours notice, and
charges a commission to each of the I'm.
fortunates.
You will seldom find broker who Is not
"just to close big DEAL" or one who Is
not ready to divide commissions with you,
provided you can assist him in putting
the thing through. Putting the thing
through" Is often not altogether uncon-
nccted with Misrepresentation as to
values
know broker who has lived for years
on the business lie did with one investor.
The investor took his word for the value
Of most anything he offered him until he
found, recently. that the broker was de-
frauding him and working profit out OF
both ends Of tho line. Then he ceased to
do business with him.
"What will you do now" l asked the
broker. "You have killed the goose that
laid the golden egg
well I reckon" he replied, "1'll have
to hunt for another goose"
met a queer one recently. His busi-
ness Is to buy and sell things that have
absolutely no value. Strange isn't it2
1t Is fact nevertheless. He asked me II
had any mining stock. / told him that
had some, that represented many hard
earned dollars that were used to bore
hole in that part of our planets crust
called Colorado.
What's it WORTH" said he.
ut has no value" replied, to any
one but myself. I take it out Of my scrap
drawer. and read its beautifully engraved
lines. whenever am tempted to invest
money In any new and promising enter
prise, represented by man wearing q
hardware.store diamond. and using flow
Of sanguine and persuasive Wall street
language. There Is nothing have that
awakens sadder thoughts or more effect
ually closes up the pores OF my wallet,
eAou UAdV tOCh Col LAACbtC, uuAooo ~ 10 LILO
stub OF an old check book that keep in
the same drawer"
what are you going to do with the
stockY'
II was thinking of using 1t for gun
wad. II should ever meet the financial
genius who persuaded me to invest In the
thing"
II think might be able to get you
few cents on the dollar for IT !"
what would anyone want 1t for? Why,
man, 1t has no value. 1t never will have
any, and know it. 1t Is as worthless as
q last years election ballot"
"Wel.swhstit It's wanted for, is no con-
"a of yours, but don't mind telling. l
q client who wants 1t because his as
sctSdo not equal his liabilities"
Why; II he buys this he will have less
assets than before"
Don't you understand? He is about
to make an assignment, and 1t wouldn't
look right to show such a small amount
of assets to such large amount OF liabili-
ties. This stock would be nominal
asset and would show up we'll on the
schedule. Oh, it's common thing to do. |
constantly find people who are short of |
assets, and it Is my business to |
provide assets for them as cheaply as pos
sible."
declined being party to the swindle |
From what the broker told me, gather
that it is all every day thing for business
men, who are about to fail, to buy, for a
few dollars, worthless stocks, the face |
value Of which represents large sums.
This probably accounts for the good |
showing SO often made by innocent firms, |
whose schedules show an excess of nom
inal assets" over liabilities. 1t also prob
ably accounts for the tremendous shrink
age in promised dividends, and tho fact |
that creditors often realize only few
cents on the dollar. although they were
at the time Of the failure, by |
the statement that "the assets would |
show that creditors WILL eventually be
paid in full and no one will lose dollar"
Don't imagine that I am trying to show
that all brokers are dishonest or queer.
There are, in the business, many honest
men who would not be guilty Of misrepre-
,enting, even in the slightest degree any
thing they have to offer. But this is
wicked world, and one feels like saying
with the old quaker, "All men are dishon-
,st except thee and me, and / think thee
Ire little tricky thyself."
Our language lacks word that can be
lsed in the beginning Of letter to an un-
married lady with whom we have no ac-
luaintance. Or to whom we are address,
ng a business communication. For a
married lady we have Madam or we
nay say Dear Madam" and men, mar
led or single, we can address as Sir" or
Dear Sir" but Miss" or Dear Miss
would be awful, and we cannot say Dear
Miss Jones" unless our acquaintance with
he lady justifies US in doing so.
There should also be something at
;ached to Jenny o Jones' name, when
signed to letter to indicate to US whether
We should address reply to MRS. Jenny
J. Jones" or to Miss Jenny o. JONES'"
Why is it, I wonder, that it is not con-
'idered necessary, in any language, to
rive man a title to indicate that he is