Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1892-03-12
FAKE PROMOTERS.
A CERTAIN GLASS Or MEN TO DC
FOUND ONLY IN NEW YORK.

Occasionally They Manage to Get Across
the water Ia London for New weeks,
but Lover broadway Il Their STAN ping
Ground-Iow They Operate"
"When I was In London | stopped ut
the Langlian. intended To combine
business with pleasure.
III expected TO sell u fcw thousand Of
our Irrigation Canal bonds Tho day |
arrived l strollod down stairs and into
tho hotel Office.
II was staggered 10 recognize several
faces from Now York In the throng.
"Thcy were faces, too, Of follows whom
had seen hanging around tho cafes and
bars Of lower Broadway
"Thcy were generally Bcody and seemed
20 DO waiting for somebody TO blow thom
or
How they over got to London or what
they were doing don't know. ono thing
do know, they spoiled my game, for ]
never mentioned bonds to any one during
my eight months stay.
mo wonder London Is n suspicious
market for American Investments"
Thus gentleman, just returned from
the other side. held forth on some OF the
New York promoters he mot In London
This class Of promoters" lisa peculiar.
carious living by bringing labor and
capital together.
Tho capital they Join 10 labor Is no,
their own-far from H. With tho true
spirit Of tho broker. they give the benefit
Of their experience and business ac-
quaintanco 70 others and pocket only
their commissions.
That Is about tho only thing pocke,ed
In tho whole transaction. except tho
bitter, bittor memory Of tho laborer or
producer.
A short time since Mr.. Jason Idle
wild, a highly respected citizen of Paint.
ed Post, came to New York.
Ho brought with him his latest invcn-
ton, n compound centrifugal churn.
He had u feeling In his simple, sub
urban mind that each and every resi-
dent Of Fifth avenue was losing sleep
because the hired girl could not got tho
skinned milk which il sold to unso-
phisticatsd city folks to produce the
proper amount Of butter. SO no hiod
himself to this city with his ehurn model
packed In n dry goods case. Visions OF
untold wealth were In his mind.
Now, " there is any ono In this wide
world who can put an inventor on the
right track II is thSs class OF promoters.
ono OF these individuals scented tho
festive granger and his packing case
full OF churn. So ho took him gently
in tow and piloted him right up against
capital.
What Mr.. Idlewild did not learn Of
controlling interests, charters. treasury
stock" and other mysteries Of corporate
companies wasn't worth knowing.
After he had paid his 'broker tho com.
missions and expenses" no went home.
or course he was made vice president
OF tho compound Centrifugal Churn
. company" When he struck his native
heath again the Painted Posters con.
graduated him on his success
His old occupation OF rising with tho
lark at dewy morn and gathering the
early varieties OF hen fruit seemed irk.
some.
His duties a. vice president of the
churn company did not interfere with
HIS regular farm work-not TO any great
extent Hc was only required to be
vice prcsident-that WAS all.
But It all ended rs II usually does
and the suffering citizens Of Fifth ave.
nuo continue their struggle with an in
ferior grade Of butter.
The poor. hard worked trustee oil
somebody's estate may have tried e
kwa,l~ Il. - al. n
jay has an "anchor tied cinoh" on tina
particular portion OF this somewhat
wicked metropolis.
Now, the trustee would not for tn.
world DO dishonest or work any wronl
TO the fathorless or tho widow. III
therefore tills up his safe with stock
and bonds These he buys from tn
'falfo promoter" for about fifteen dollar
per thousand.
True, tho value Is hardly up to tn
amount Of his trust. but that Ia tho trus
tees business.
so he turns over 10 his wards as beau
tiful u lot of bonds and stock certificate
rs ever escaped junk shop,
And then the titlcs-"Alaska, Yucca
tan and Cape Horn Railroad First Nor,
gage Bonds" and the "Bungtown Wate
Works Company's Bonds" and others
Who shall say 1t is not goodly lott
In the matter Of providing purple an,
fine linen wherewith they may be clothe,
and food whereby they arc nourishel
these handlers OF prodigious financial
schemes-those links between capital an,
labor-are not in 1t 10 any great extent
They know that the great iinancier
re not given to pointed toe shoes an,
strap scam covert coats
Therefore. If their own coats arc