The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1892-05-10
FAKE PROMOTERS.
4 CERTAIN CLASS OF MEN TO BE
FOUND ONLY IN NEW YORK.

| Inc UOL6l OluCC.
81 was staggered to recognize several
faces from New York in the throng.
"They were faces. too, of fellows whom
I had seen hanging around the cafes and
bars of lower Broadway.
eThey were generally seedy and seemed
to be waiting for somebody to blow them
| off,
"How they ever got to London or what
they were doing don't know. One thing
do know, they spoiled my game, for I
never mentioned bonds to any one during
my eight months stay.
"No wonder London is suspicious
market for American investments"
Thus gentleman, just returned from
the other side, held forth on some of the
New York promoters he met in London
This class of promoters is peculiar
ly New York one. They make a pre-
carious living by bringing labor and
capital together.
The capital they join to labor is not
their own-far from it. With the true
spirit of the broker, they give the benefit
of their experience and business &C
quaintance to others and pocket only
their commissions.
That IS about the only thing pocketed
IN the whole transaction, except the
bitter, bitter memory of the laborer or
producer.
A short time since Mr.. Jason Idle
wild, highly respected citizen of Paint
ed Post, came to New York.
He brought with him his latest inven-
ton, a compound centrifugal ohurn.
He had feeling in his simple, SUBJ
urban mind that each and every resi-
dent of Fifth avenue was losing sleep
because the hired girl could not get the
SKINNED milk which is sold to unso-
phisticated city folks to produce the
proper amount of butter. So he hied
himself to this city with his churn model
packed in a dry goods case. Visions of
untold wealth were in his mind.
Now, if there is any one in this wide
world who can put an inventor on the
right track it is this class of promoters.
One of these individuals scented the
festive granger and his packing case
full of churn. So he 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 the COM
missions and expenses" he went home.
Of course he was made vice president
of the 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 the
lark at dewy morn and gathering the
early varieties of hen fruit seemed irk-
some.
His duties as vice president of the
churn company did not interfere with
his regular farm work-not to any great
extent. He was only required to be
vice president-that was all.
But it all ended as it usually does
and the suffering citizens Of Fifth ave-
nue. continue their struggle with an in
ferior grade of butter.
The poor, hard worked trustee of
somebody's estate may have tried to
knock Jay Gould out of the street. But
Jay has an ''anchor tied cinch" on that
particular portion OF this somewhat
wicked metropolis.
Now, the trustee would not for the
world be dishonest or work any wrong
to the fatherless or the widow. He
therefore fills up his safe with stocks
and bonds. These he buys from the
flake promoter" for about fifteen dollars
per thousand.
True, the value is hardly up to the
amount of his trust, but that is the trus-
tees business.
So he turns over to his wards as beau
tiful lot of bonds and stock certificates
as ever escaped junk shop,
And then the titles-"Alaska Yucca
tan and Cape Horn Railroad First Mort
gage Bonds" and the "Bungtown Water
Works Company's Bonds" and others.
Who shall say it is not goodly lot?
In the matter of providing purple and
fine linen wherewith they may be clothed
and food whereby they are nourished
these handlers of prodigious financial
schemes-these links between capital and
labor-are not in it to any great extent
They knew that the great fnanciers
are not given to pointed toe shoes and
strap seam covert coats.
Therefore, if their own coats are a
trife shiny, if their trousers do have
whiskers on the bottoms, if their shoes
are rather gone at the heels and their
derbys are of the crop of three years
ago they have their example In the mas
ter minds of finance
Most of these promoters" are too
strong to work. While their wives can
keep their houses filed with boarders at
six dollars board, why should 'pre-
moter" bother his head about where the
staff of life is to come from?
1t sounds we'll for any boarding house
keeper to inform the compiler of vital
statistics for the city directory that her
husband is "a broker"
Again, the table talk at dinner time il
much enlivened by the brokers' descrip-
ton OF chow Jay MIXED the market"
The boarders fail to grumble and fall to
wondering why he did not dine with his
friend jay.
One popularity of this promoter" is
his watchword. tomorrow"
Alas! for frail humanity. who believe
that ''all things come 10 him who waits,
the promotes" fails to bring the day for
CLOSING the dealT ninety-nine times out
of hunGred.-New York Recorder.
An Ancient River.