The Dalles daily chronicle. [volume] (The Dalles, Or.) 1890-1948, 1892-05-06
FAKE PROMOTERS.
A CERTAIN CLASS OF MEN TO BE
FOUND ONLY IN NEW YORK.

Occasionally They Manage to Get Across
the Water to London for n Few Weeks,
but Lower Broadway Is Their Stamping
Ground-How They "operate.''
when was in London stopped at
the Langham. ! intended to combine
business with pleasure.
s1 expected to sell few thousand of
our Irrigation Canal bonds. The day
arrived strolled down stairs and into
the hotel office.
81 was staggered to recognize several
faces from New York in the throng.
''They were faces, too, of fellows whom
had seen hanging around the cafes and
bars of lower Broadway.
"They 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
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 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 ac-
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
1 producer.
A short time since Mr.. Jason Idle
wild, a highly respected citizen of Paint
ed Post, came to New York.
He brought with him his latest inven-
ton, a compound centrifugal churn.
He had 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 get the
skinned milk which is sold. to unso-
phisticated city folks to produce the
proper amount of butter.s So he hied
himself to this city with his churn model
packed in 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. y
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 ssbroker the com
missions and expenses" he went home.
OF course he was made vice president
Of the Compound Centrifugal ChurT
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 ths
churn company did not interfere with
his regular farm work-not to any grea-
extent. He was only required to bt
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 oi
somebody's estate may have tried tx
knock Jay Gould out Of the street. Bui
Jay has an 'tanchor tied cinch" ON thai
particular portion of this somewhat
wicked metropolis
Now, the trustee would not for ths
world be dishonest or work any WRONG
to the fatherless or the widow. He
therefore fills up his safe with stock.
and bonds. These he buys from the
flake promoter" for about fifteen dollars
per thousand.
True, the value is hardly up to tht
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 certificate.
as ever escaped junk shop.
And then the titles-ssAlaska, Yuca
tan and Cape Horn Railroad First Mort
gage Bonds and the ''Bungtown Water
Works Company's Bonds" and others.
u Who shall say it is not goodly lot?
In the matter of providing purple an6
, fine linen wherewith they may be clothed
and food whereby they are nourishe6
these handlers of prodigious fnancia
schemes links between capital anG
labor-are not in it to any great extent.
They know that the great fnancierl
are not given to pointed toe shoes and
strap seam covert coats.
Therefore, if their own coats are
trife shiny, if their trousers do hay.
whiskers ON the bottoms, if their shoe.
are rather gone at the heels and theil
derbys are of the crop of three year,
ago they have their example in the mas
ter minds of finance.
: Most of these "promotersn are tot
| strong to work. While their wives car
keep their houses filed with boarders a
, six dollars board, why should a s.pro
1aofar,, hc,fi,a,. h;r l,an a