The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1898-08-10
SEA WATER GOLD. :"
The Most Amazing S"'nc:s
Known in Modera Times.
EXPOSURE G? TIE FRAUD.
Rev. P. T. Jernegan Promotes q
Gigantic Fraud and Lured
Many lnnocents to invest
in the Scheme.

in the Scheme.
The most astonishing >windlc Of mod
crn times has been exposed by the New
York Herald. The scheme was pro-
mo;cd BY Rev p. I. .crncgan. a Bap-
tiSt minister. The reverend gentleman
discovered process for extracting
cold from sea water KS his working
material was unlimited so also was i,
made to appear to the crcdulous stock
holders in the Elcctrolytic Marine Salt
company 1hat riches beyond the dream
Of Aladdin awaited them. In such
roscatc language us this did the Rev.
Dir. .Jcrncgan picture the possibility OF
the clcctrolytic process:
One IS ut Il loss to comprehend
tie enormous wealth thus floating in
solution in the ocean vt the lowest
estimate. cubic mile OF sea water con
tains gold to the value Of 500. .OOO.O0
1t is probably nearer the mark to place
it at 800. 600. 900 There is enough
"old in the waters Of Long Island Sound
10 pay of? the national debt and leave
Il larger GOLD reserve in the treasury
than the government has Yet possessed.
The waters that sweep in and out Of
New York bay daily contain enough
gold to buy all tie ships and mcrchan.
disc borne on their surface. Massachu-
sctts bay holds enough Of the precious
metal to buy all the real and personal
property in the entire state. Acre for
acre. the waters Of the bay arc worth
more than the land Of the state.
The astounding feature Of the scheme
WAS that it was emincntly successful
and that capitalists were induced to put
their money into it. Last week the
fraud was exposed. but not before Rev
Mr.. .Jcrnegan and his confederate, c.
+. Fisher. had disappeared. The willy
minister is now spending the thousands
which he received from stockholders on
the otllor side of the marine gold mine
which he proposed to develop by the
cubic mile
The story Of the amazing swindle is
told in the Herald OF Sunday by Detcc
tive William Phclan. who was engaged
by the conspirators to assist in operat-
Ing the scheme Detective Phelans $
story in part is as follows:
In September, 1896, | received 4
letter from c. f. Fisher. at Deland.
Fla. in regard to a scheme he had on
foot. He was Il diver by profession,
but had been hoorwalker in u Brook
lyn dry goods store.
He referred to his friend Jernegan
as Baptist clergyman who had inven-
ted process for making money out Of
the ocean. BY the aid Of electricity he
could abstract the gold held in solu-
ton BY ordinary sea water. This was
not explained to me at the time. He
would tell me nothing then. but he
limited strongly of great fortunes await
ing them all.
He soon came to New York. accom-
panied by Jernegan, and asked if |
would give them a room in my house.
They were to establish themselves
in quiet place where they could pros
ecute some important business connec-
ted with their experiment. But it must
be with man they could trust.
Il gave them my front parlor. Al
though they remained q month, moth
ing except in the way Of hints was said
of the proposed scheme to make US all
rich. They only reiterated that it was
the biggest thing outside Of bonanza
gold mines for making fortunes.
Later Fisher asked me to so to Nj
antic and | went. | was to do some
detective work in connection with his
gold producing scheme. he said. In a
cottage just outside of Mantle | found
.Jerncgan. 1t belonged to \. B. Ryan,
afterwards president Of the gold COM
pany. They were apparently putting
up some machinery.
In day or two: on returning to
New York. | received word from Fisher
that the Mantle people had become
suspicious and they proposed to move
their works to Rhode Island. Follow
in- the announcement came second
letter from Fisher. dated Providence
He wanted me to join him there and
assist il some important experiments
about to take place connected with
their great scheme for making gold.
As he explained it, there was some div
ing to be done and 4 life line to be held
in the water. 1t was so important that
only a man in whom he had implicit
trust would be allowed to do the work.
He offered to pay my expenses and re-
imburse.me for outlays. regardless Of
what they were. so | went to Provl-
dence
'On reaching Providence Fisher fur
ther explained that was to 20 down
the bay mile or so at point where
their experiments were to be made and
begin operations To conceal the pur-
pose Of his operations, Notwithstanding
all that he had hintcd about their in
tcntion of producing gold. he declared
they were only to make 4 geographical
survey. 1t would be necessary to do
some diving to get the exact conhgu-
ration Of the bottom Of the bay.
Il naturally believed this statement.
found that my duties We're to help
him (i'ishcr) put on his armor and
then hold the life line while he made
his dive. He remained under from a
half hour to three quarters Of an hour