The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1898-09-15

promoter in the face he went to work on
the project. There isn't anything small
about Abner. When he promotes thing
it is done in proper shape. TIE company
was at once organized and was capitalized
at round million Of dollars 1t Is said
that Abner retained s75O,OOO Of this
amount in stock. TIE company was in
corporated under the laws Of West
Virginia, because Of law that is in
operation there that corporate stock is
non assessable. Tne company was called
The Essick Electric Printing Telegraph
Company, and its headquarters were IN
New York. Stock was first sold to the
big fellows about Washington, who no
doubt thought they were doing the major
a favor by buying stock from his brother.
Then Abner broke for his old home. He
had big thing, and it was too good to
keep sn to himself. He wanted to make
all his friends rich. He had stock for sale.
The Essick Electric Printing Telegraph
was bound to knock the big telegraph
companies sky high In little or no time.
Wall street was going to adopt it right
away. Everybody In the east wanted in,
but Abner would give some of his home
friends chance. He would let them
in on the ground floor. TIE stock was
well worth 100 cents on the dollar, but he
would let his friends have it at prices
suggestive of a positive donation. No
one thought to investigate. There was a
good deal of halo about the name of Nc
Kinley, and some ofuhe shrewdest men
in Canton just took Abner's word for it
and went in. Some paid 20 cents on the
dollar. These are supposed to have been
just ordinary friends. Some paid about
80 cents. This was probably a higher
grade Of friends. Then there were some
exceptionally good friends, that the
promoter was particularly anxious to
favor, Who paid 40 cents on the dollar.
One citizsn paid 81. 900 and got $4,000
in stock IF the concern. One paid 81, 900
and got $1,000 worth. One prominent
lady Of the city paid about $1,000 for
$50, 900 of the stock. So 1t went till
about sl5O,OOO worth was sold in Canton
alone, the aggregate being about s45, 200
psid for the same.
Time went Oh and nothing further was
heard of the firm OF its doings. Par
ticulaIly and emphatically was there
nothing heard of the arrival of dividend
paying period. But the fellow without
other visible means of support went on
with his prom moting. Time came for a
meeting of the directors. The Canton
people thought it was about time to in
vestigate They had put in their cash
solely at the suggestion and solicitation
Of Abner Mckinley, and the halo about
the name was beginning to be purctured.
A corporation lawyer was hired to 60 to
the annual meeting and see what the
financial transactions amounted to in the
reports Of those in charge. The meeting
was Geld in the little city of Martinsburg,
W. Va, the home Of Senator Faulkner.
A stakeholder states that the legal repre-
sentative had merry time getting at the
facts with reference to tie company
He got there a day before the time for
the meeting and waited for the arrival OF
the promoter. Before he left home he had
provided bims If with proxies of the Can.
ton stockholders. He proposed to do
some voting If ii became necessary.
Senator Faulkner was 10 town when the
representative of the Canton gold brick
buyers got there. The senstor was a
stookholder He said the eastern stock.
holders had not arrived.
Mckinley viii be here, though" F" said
he, "and he will be here in style"
Next day he came. There were several
New York men with him, and they
arrived in special car, after the fashion
of successful confidence men.
A bner was greatly pleased to see the
legal representative from Stark county
He said so himself. He was glad the
Canton people were still taking an in.
terest in the Electric Printing Telegraph
Company. The stock was booming and
there was great chance for fortune
making. He was happy that the Canton
people wanted 10 know how affairs wers
getting along. A lirtls iat.r he discovered