The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-03-10
DANGLED A GOLDEN LURE.
FISHER = 90 INVESTIGATED BT THE
CONSOLIDATED EXCHANGE

So.s OF Their Aavsrti-e,srts saa Circulars
for Thos. who Make More Haste 90
n. Rieh Ths. speed-T. m. Fisher sus-
pe.ses-Bsnk Prs.ia..t George wsrk'-
so- his Associate n che Busi.e-s
The managers Of the Consolidated Stock and
Petroleum Exchange suspended yesterday for
six months 7. II. Fisher doing business as
Fisher a Co.. bankers and brokers, 10 and 20
Broadway and 81 and SO New street The
charge on which Mr.. Fisher was suspended
was that he was doing business detrimen to
the interests OF the Exchange. Mr. Fisher be-
came member Of the Exchange on Dec. 4.
and his references at the time we're good. Mr..
Fisher declared that he had SO. 500 in cash and
owned In real estate $4,000 to $4,000 He
originally came from Indiana and he now lives
at 12O West Forty first street
President Wilson said that when Mr.. Fisher
Joined the Exchange he declared It to be his
intention to conduct q legitimate commission
business. but that recent Developments had
warranted an investigation OF Mr.. Fishers
business. and this led TO his suspension yes
terday. Mr.. Wilson said that on Feb Is L. J.
Werner. Chairman OF the Clearing House
Committee OF the Exchange. handed him the
following advertisement. clipped from the
Louisville Courier Journal Feb. IL:
WANIED-zo per cen, per month nth !. what We ar:
drawn any time: $50 to 500 can be Invested psyst
Co, Banker. and siOi.rs is and 20 Broadway. New
York. Members Consolidated stock Exchange
President Wilson sent for Fisher and con-
fronted him with Mr.. Werner. Mr.. Fisher. It is
stated. at first denied to Mr.. Werner that he
knew anything about the advertisement, but
subsequently admitted knowledge Of It to Mr..
Wilson. President Wilson then ascertained
from Fisher that Charles L. Work was practi-
cally the manager OF Mr.. Fishers business.
and that he had caused the advertisement to
be printed In the PHILADELPHIA Ledger.
the Philadelphia Press the Indianapolis
Sun. the Washington Star. the Cincinnati
Enquirer the Chicago Times. the Cleve-
land Leader. and the st. Louis Globe
Democrat ThiA advertisement was con-
trary to the regulations OF the Exchange.
President Wilson said. and he added that in
the Investigation OF Fisher and Work he found
that Work was the real head OF the concern.
endorsing all checks and drafts. Inquiries
began to pour In from Texas and Virginia. and
other States. for information about Fisher
investig alton OF their business. one OF the
first docu m ente OF the firm secured by the Ex-
change was one which says. among other
things:
ever studied u. osrc. e ss . S Amer.
fsisr Soo 900 600; the DrexsIs S75.ooo.ooo. and
ss.d sas ts.is 6Sd,a !. :Sar;s%.I!
soss h.vs e.sn n0n'
The circular goes on to say that Fisher Co.
believe in cooperation. and that under their
BFs: pesk
combination. say that one combip alton pro-
tects the other. and that twice each month on
the first and the fifteenth day. the combinA-
lions are closed.
The authorities OF the Exchange also So
eonsributoEs. IL Is called q special stock COM
hination. and the slgner Of the doeument linn
luteiy Unlimited"
the sS One declared 1i that the pfets paid e
their customers Tor the nrst forty Inve days OF
this year we're AS ioii9ws; jan; Z, ~ per cent
Feb. 10. - per cent. This circular adds: We
do not desire the business Of those not fully
fortunately occur" Another circular says:
y; 70 pSnS's o of ss ..1s ~. .s:
opportunity OF explaining our plans
s: @ sn y; Gy ""
tion asked by any who is familiar with ,pecu
% sHf
s ss v saS So made o a. ssn
You buy ten shares OF railroad stock on one per
ssas R.Pa
proseT wso sdss .sr. lets any ons DAY pas:
wsSas tee Rif ssn. Would S 'STs S
agar But no broker can be uniformly .nses.,fSL
i able 10 .St Promptly aod di,cr"s'oS lodged ~,IS
make 100 500 per cent on one operations II wo
stopped that had previously M AIDE loss IL
evident that could divide 100 to 800 cent for
low speculative pront. The third question iA
Why DO not Keep all the profits ourselyest We are
not CLAIMS willing TO divide with those who
helpuA
Fisher 4 Co. submitted to the ExhanCe let
ters from j. T. Mulhal 35S West FOrty-sev-
enth street and Mrs. Mary Jackson. 252 West
Thirty-third street, acknowledging the receipt
OF dividends from the hrm.
Charles I. Work Is tho son OF George Work,
who organized the Bank Of America In Fhila-
delphia which failed In May. 1890. George
Work was convicted and sent 10 the state PEN
itentiAry for four years for Irregularities con-
nected with this hank. Charles l. Work has
been con nected with various enter prises- He
was treasurer OF the Asphalt Block Company
OF Philadelphia, President OF the Gloucester
City National Bank. Gloucester. n. j.. aud
President of the Fidelity Trust and Safe De-
post Company. Mr.. Work Was not fortunate
In his ventures
Al the ON ees Of Fisher & Co. yesterday after
noon Mr.. Work and his friends maintained
that their business was thoroughly legitimate
and that no body had suffered by thoir methods.
The authorities of the Exchange, however,
requested Postmast Dayton not to send
through the mails any more OF Fisher Co.'S
circulars.