The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-07-22
KANSAS MORTGAGE SHARKS.
HOW they Despoiled Eastern Investors
ana Gave the state Bad Name.

Kansas City Star
recent bulletin issued by the census
department states that there are more
mortgages upon Kansas in proportion TO
INC popuiation OF the state than there are
upon any other state In the Union That
statement was doubtless true five vearz
ago when the census was taken. bur I'm
nVe years great change has taken Mace
IN Kansas. and the bad iands-that is
ianhs which lie I'm every county. and are
only good for grazing purposes. the ..,,n-
lands the farmers call them-have nearly
all changed owners in the past five years
ana with the change of owners the mort
cages have disappeared
The story of the boom in Kansas vas
the story of crime. Probably at no other
period In the history of this country has
so much money been wantonly wasted as
was wasted I'm Kansas between the wears
fsS and fssS. Money came into Kansas
literally by the barrel n came from every
quarter of the globe. II went into the
hands OF all sorts and conditions OF men
for distribution among the people These
men were for the most part not kansans.
they came from the East and they came
for the express purpose OF swindling
everybody with whom they had dealings.
These sharks" are gone now: they swan
out when the first receding wave OF the
boom was felt. They went to Utah. "a
oregon. to California. But the story of
their nefarious methods has not been told
II Is an interesting story. and In justice 10
the honest people OF Kansas. who are
really trying 10 pay their honest debts.
the story should he printed.
A typical Kansas shark. sleek well
dressed. with the manners Of a fakfr
swan into Wichita early In 1886. when
everything was booming and money was
az plenty as grass. After looking the
town over he rented an Office in one OF the
new Office buildings In the booming town.
and had painted upon his door the words:
Great Western Trust. Loan and Invest
ment Company" or some such grand ana
awful title He had Eastern correspon-
dents, and in a short time had bank ac-
count that was beautiful 20 look upon
Then he hired solicitors TO scour the East
ern states for money. going out OF the
big cities and into the little backwoods
towns TO tell the Fasteners OF the giories
of Kansas as a pace for investment.
Money from widows, from orphans. sent
by their guardians: from old people who
sent their little nest eggs" from coun-
try capitalists; from New England farm
srs. from workinsmen and factory girls
fror, every possible class and condition or
men came 20 the Offices OF the Great
western Trust Loan and Investment
Company. Each person sending money
received in return a beautiful certificate
~ stock, emitting him to a share in The
nrodts. which were 10 roll up as soon as
ma money was loaned at 8 10 and u per
cent.
While the solicitors were In the East.
drumming up money the shark was as
s,suousiv engaged IN putting q away.
MS method was simple one. rs simple
a. ,s the method OF the hunko man. lie
ven. either himself or BY proxy 20 the
,,Aares, neighhorhood Of uplands. The
,-sarest ueishhorhood Of bad lands" -
ur,t~hi,a happens 20 be the Flint bins
,,,,ntry about Atty miles away This
country is stony. hlily and barren. save
W. short stunted grass. which hardly
,,,,.ers the little flint gravel. and < an
,,~. would have been an eXorhltant price
80, R,,t there were people living there
,,eorle who thought thar 20 own land.
hev-ever poor. meant to possess riches
,r.ea naople on these bills were not the
rs. rlflvens They were critters, who
ss. come IN with the boom, usually
strr,e men or Young men men With
.-,sn families and With 10 means
when the shark came into this neish-
h,,f n put up at the drsi house AZ TIE
,,,tstir,s OF Il and o1ered the trusting