The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-04-07

Dean Company and its Mode of
Operation.
The 500 dupes who wanted to become
suddenly rich and invested their earn
ings. savings and idle capital in
Deans safe system of scientific spec
ulstion'' were not at all pleased with
TIE Herald about ten days ago, when
this paper called attention to the pat
ent fact that people who placed money
in the hands of such concerns were
simply throwing it away.
A few We're wise and acting on The
Herald's tip, drew down their money
and escaped without loss. some of
them even making a neat thing of it.
as the profits had accrued" on their
investment and the Dean concern was
not prepared TO bring on a storm by
refusing to pay back, in accordance
with their agreement. The lemon had
not then been squeezed dry.
Yesterday, however, when The Her
aid published a New York dispatch
conveying the information that the
Dean establishment had been seized
house of cards had tumbled at last,
there was dismay-wild dismay-in the
ranks OF the safe system spectators.
This dismay was followed by a sea
son of weeping, wailing and gnashing
ot teeth when the duDes fiocked to the
offices in the Atlas block, only to find
the place in charge of q constable and
that Clark Young, the company's agent,
had disappeared.
OPERATED HERE SINCE JUNE.
For some time past, since June of last
year, the Dean company has conducted
a branch office in Salt Lake.
The office here was located in rooms
2l6 and 217 Atlas block and was man
aged by a man named Clark Young.
VINO, il is said, came from Chicago for
that purpose.
Early yesterday morning. soon after
the papers had reached the eyes of
readers the corridors of the Atlas block
began filing up with an excited throng
of people who sought admittance TO
the Dean office in hopes that there
might be some possible show TO get
back their money.
1t was a pitiable sight to watch some
of the disappointed ones. There were
among them quite a number of very
old men and women who had put every
cent Of money they had in the world /
.fattering opportunities for investment |
One aged lady who was probabiy past /
the seventeen milestone Of life, went /
as if her heart would break.
She said she had 5000 which she had (
accumulated little by little put away
in an old trunk at home. She was told
she could soon increase that amount
to double its size if she would invest it
with the Dean company
The agent O. the company here ex-
planned to her what dividends" had
been paid to other customers each
month. Some ran as high as 25 per
cent and more. This is what captured !
the poor old woman, she thought she
could do as wei. If she could il would
only be few months until she would
have enough to last her during her re-
days.
THERE WERE OTHERS.
There were others in the crowd who
ought TO have known better than To
have allowed themselves to get biz
ten as they did. There We're teachers
well known in the city schools. clerks
employed in some of the best business
houses in the city. labOring men who
FORK By the day. railroad men such as {
conductors, brakemen, switchmen and I
porters. servant girls and walters in I
o1ng, the manager, but his clerk told l
them when ne came to the Office that :
his superior had left on the previous i
evening for New York: that the com s
oany had made a bad deal and lost. c
and that Mr.. Young had gone to effect I
1 settlement. i
OFFICE ATTACHED. I
The clerk, a young man named g
Chandler G. Smith, was kept busy +
making these explanations and en-
ieavoring to pacify the excited ones {
Until about 1880 o'clock, when Con- v
table T. c. Patten stepped in and h
evied an attachment issued out of Jus I
ice McMaster's court on everything in ],
he Office. The doors were then closed h
nd those on the outside could do moth a
ne but read the notice posted on the 7
lass front. The attachment was TAX n
n out by the National Bank of the I,
republic for the amount of S299 The Il
ank had caShed a number of checks q
rawn on the concern IN New York. =
nd the attachment was made TO Sc -
ure those as they will undoubtedly y
ONE back protested.
A Herald man was on the ground :,
then the attachment was made Mr.. -
Dung not being in evidence. the ma d
ers were handed over to Smith. Here ~
developed that Young had given a -
III of sale to Smith on ali the furni- d.
Ire in the place before his departure
hich the latter claimed was given him o'
secure him for three months back al
ay. -
Smith and his mother, who is the u
ife of the departed manager. made a NJ
gcrous protest against Censta ole Pat W
n taking possession, but he did II lI
st the same. and after awhile the T.
70 coolly accepted the situation and ne
ade the best of it. IN
THE MANAGERS WIFE TALKS. -
Mrs Young is a very lady-like person it,
ID one would judge from n actions w
at the experiences of yesterday were or
netting new - ner. tn
I'VE are the heaviest losers of all" pu
id Mrs. Young. Not only does The tn
mpany owe Mr.. Young about Sl25 tn
ok pay, but we have between IS. 600 wi
I'd $4,000 invested. KIN