The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-06-20
BIG SCHEME FLOATERS.
SNAGS THAT WEALTHY MEN OF
EASY WAYS RUN INTO.

facCOry Win q secret Process ana
the Other of a Western Bank.
From the Ne,o York Advertiser
Catching a MISUNDERSTANDING the
operation Of obtaining financial backing-is
a phase which originated in Chicago, and
reached Wall street by way Of the Bowery.
A year ago the use of such an expression
would have insulted the atmosphere Of any
really reputable bankers or brokers' office;
but now, If you should take your patent or
your syndicate scheme to the office Of the
biggest capitalist in town and attempt to
break the matter to him gently and gem
teellY. it is ten to one he would interrupt
You by hurting out:
10, yes. You've got scheme, and you
want to catch a sucker" Or
"Ah, yes. It's o. P. ". you're after"
20. ?. NJ" OF course means other peoples
money-which is a most desirable thing to
have, especially if your scheme is anyways
doubtful.
By the use of such slang terms the great
money man does not mean to cast reflections
on your scheme; he is simply conforming to
general usage. AT the present time O. P. NJ.
is trifle tight, owing naturally to scarcity
Of suckers. All of which is merely PREDATORY
to some expert testimony on the subject
given day or two ago in the dining room
of a very well-kn own breeder OF fast horses
and other paying enterprises. Present also
at this time was lawyer who sometimes
acts, and very successfully, too, between
those who have money aud those who want
it. The turf man set the subject going.
Il once put $40 900 cash into q scheme"
be began, land within a year got $500, 900
out of it. The next thing l tackled evened
- Il 81
scheme. l shan't tell you exactly what kind
of manufacturing scheme it was; but
there was only one other establishment of
the kind of any consequence, and the pro-
motors of the new one promised TO make
the old one throw up It's hands inside of a
year. Finely finished metal articles was the
staple product, and the new concern had
secret processes of great value Being
1920, 900 ahead on nay last deal, | didn't in
quire very closely into the secret. They
wanted S25, 900 with which to FL up their
plant with new machinery. | put up the
$25, 900.
In few weeks the new plant was in,
lot Of men were at wo with their sleeves
rolled up and smoke was rolling out of the
chimneys at a great rate. The managers
Office had new carpet on the floor and new
furniture throughout The manager had
very expensive suit Of clothes, | thought,
for the boss of hard DWARF shop, but con-
cluded that was his business, not mine. But
what really disappointed me was that the
manager seemed to know com paratively
nothing about what was going on. A man
would call to ask about prices on big
order OF somethi e or other and the mans
eger would touch a bell button without
leaving his desk and ask tie customer to
have a seat Pretty soon the superintendent
would cone in and the manager would
yawn and say:
Here, Jones, show Mr.. Whathisname
what he wants to see.'
when the new plant had been running
about week tho manager came to the pri-
vate Office slapped me on the back aud con
graduated me warmly.
what forP said l, whereupon be
whipped out an order for 10000 dozen OF
something or other at 81 Is per dozen. The
man sger said the profits on the order would
amount to $4,000, aud the job would be
done in a week. Then he asked for IS 900
to buy raw materials with. The order was
from q very sound concern, 50 l accepted
the congratulations and the manager ac~
cepted the So, 0O0
Ny how the smoke did pour out of
those chimneys for week. Everything
was booming. and began to think that our
manufactures were really the life of the
country. But the rival concern still con-
tnued to do business at the old stand. II
Lu6 mhlNR6E Ol OuT COuCeTn UdunC
in wearing a silk hat and yellow kid gloves
think should have been quite happy.
"When two weeks had expired the man.
ager informed me that the big order was
was nearly finished. AS payment on this
was not due until thirty days after the de-
livery OF the order, the manager said that O
further contribution OF 81 800 would be
necessary to pay salaries His own salary,
] forgot to say, was $40 900 year, in
li1aFatiNn Of rla Of Va
cess. He got the $4,000. A week later
was slit ng in my office with a bad cold. A
cold always gives me nasty temper, aud
on this occasion the cold had great assist
anee in the fiat failure of another scheme
which cost me 81, 800. Nevertheless. that
manager had 90 come in and demand
another check, on some pretext or other
He had on his yellow kid gloves ana his
silk hat, as usual, and that made me mad q.
The idea of mau putting on yellow kid
gloves when he goes begging for money |!
/ told the manager that, in my opinion, it
was time his establishments was self-sup-
porting. added that, as l no longer ex-
pected such a thing as a dividend, / natur-
ally did not wish to make any further con-
trnutionS.
And is that your ultimatumP asked
the manager, drawing himself up.
Worse than that" l answered. for
was beginning to chafe under the collar
"you will get out, if you pieasen
II didn't think any more Jout the mat
ter until the next morning when | hap
pened to drive past the factory. The Chin
neys were not smoking as usual, and some
men were moving some mac Iinery from
the shops into the trucks standing by the
door, The suDerintenden1 was standing by
looking scared.
whats the matterp I asked. why
aren't you running!
The superintendent said the men hadn't
been paid off for two weeks and refused to
work, and the manager hadn't showed up.
why | said, there was 50, 600 profit ia
that big order of So and So. You ought to
keep salaries paid up
A light seemed to dawn on the superin-
tendent then. He said that there was Ger
tainlv 80, 900 loss on that big order, and he
ought to know, for he'd been brought up in
the rival concern when this same order had
been refused at much better price.
"And the managers skipped" said l. "All
right; have the plant sold and pay Off the
men,"
"'Good graciousT grasped the superin-
tendent, didn't you know the plant was
only reutedf These truckmen are after it
now.
"Nonsense.' said; Il paid s25 900 for it
GU. of my own pocket
Tho truckmen soon convinced me Of my
mistake.
"Well, said at last, "there's the secret
of the process That must be worth some-
thing. Sell it and pay of the men,