The Providence news. (Providence [R.I.]) 1891-1906, 1897-11-13
TWO OPERATORS BEATEN.
Will Not Be Permitted to Withdraw
Their Profits.
GosLIN's BUSINESS METHOD.

Nothing that has appeared in the daily
press for some time past has caused as
N uch excitement in local financial circles
as the announcement made exclusively in
The News last Wednesdng, that Il. +.
Ward * Go. ana Stuart d Paddock were
part and parcel Of the old T.. s. Dean
combination. now known rs Mcmillan &
Co. 1t will be many years before the
meteoric flight into space of the Il. s.
Dean a Co. is forgotten by those who
nibbled at their seductive pat New
England was full of lambs and they were
we'll fieeced by those who prom ised every
thing but who gave nothing
Wnen the crash came there was nothing
To Indicate where the many millions Of
dollars of which the people had been
robbed had been buried, and the only sat.
isfaction that the creditors obtained was
the knowledge that the managers of tue
discretionary pool had besn indicted for
grand larceny.
OF course the Goslins, che Eberm ans
and the other men Of that stamp, cou!l
not do business under their own names,
and the method they devised to enable
them to reach out once more in search "
the dollars of the speculative public is al
ready we'll known after the exposure in
Wednesdays News.
The situation at the Office formerly CO.
cupied by sullivan Bros. also Is prac-
ticslly unchane ed. .Mr Malcolm F.skinner
l. still in charge and the name of StuarS
" Paddock appears upon the windows.
1t is stated that some effort has been
made TO enable the creditors of the II. T..
Ward a Go. TO speculate with.the gold mine
stock that is in their possession and
which was supposed to he as good as cash
when used for speculative purposes.
In spite of this, however, the bulk Of
those whose dollars have been lost are
still unable to collect a penny. Their
efforts to place some value upon the r. Il.
Ward d Co. : stock have been fruitless
and they have found that their eff orts to
speculate with the gold mine stock in
lien of cash fave been coldiy received
unless they were disposed to put up cash
bonus, something few, liz any, Of them
have been willing To do
Few of tbese speculators are willing
that their names should be used although
they do not hesitats to express their
views emphatically in regard TO the man
ner in which they have Teen treated.
Benjamin Valley is one Of the creditors
who has no objection to the use of his
name. The firm owed him something
over Sl60. He accepted the offer of II. n.
Ward u Co and his speculations on tho
gold mine stock Dets2d him about 500.
hc having been short ii stocks daring the
recent decline in prices A Mr.. Smith
carried 800 i'm gold stock up TO $1,000 and
botn he and Mr.. Valley state thet they
have been unable To collect their profits.
Wnen the II. T.. Ward * Company stock
was accepted by the clients of sullivan
Bros. X Co, 10 was understood thot
these securities would represent some
value In dollars and cents. When an at
tempt was made to realize on them. how
ever it was found impossible TO 40 so.
Mr.. Sullivan went to New York and had
a conference with Albert X. Goslin and
this reject Of the Dean Company Is al
legged to have told the Providence broker
that he ought to have no trouble in pre-
venting his people from attempting to
realize on their securities. You should
tell them, " he said, "thnt thsv ought not
to take their money out of their own con-
Germ. You should make them undorstand
that 4. r. Ward a. Co. il their own COM
pany, To- Dc nurtured, not disabled, ana
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