The times., 1898-08-14
SEA-wATER GOLD.
Always Dupes for Men With Secret
Schemes of Fortune.
From the Hartford Times.)

(from the Hartford Times
1.-The plans contemplate the selling of
100000 shares at 81 each"-such IS
the brief description Of the Rev. Mr.
Jernegan's scheme of extracting gold
from the pockets OF the generous and
confiding investors Of New England.
which scheme is now under sharp inves-
tigation. The Rev. Mr.. Jernegan has sud
denly departed for Europe under an as
sumed name. He has invested several
hundred thousand dollars in United States
bonds. having already sold some 2.550 co
shares. These shares were quoted ar 81. %
in Boston on Tuesday. and on Thursday
they could be bought for 30 cen-s each
There does not seem 10 be the fullest
confidence in the Rev. Mr. Jerne0an or
his process of extracting gold from tbs
sea-so far SURPRISING and riva1ng Col
Sellers celebrated eyewarer enterprise as
to belong 10 class by itself The BOs-
ton Daily Advertiser. in its editorial coli
umns today says that Jernegan's whole
scheme Is a bare-faced swindle and fraud.
IL declares that the bonds which he has
carried of for Europe were purchased
within the past few days in Boston and
New York with 500 bis. which bills eyi-
IDENTIFY represent an enormous number Of
small sums OF money paid in by the vic
tins OF 2 gigantic swindiing scheme, Jf
which JerneSan was the inventor. heal
manager and chief beneficiary. This par
ticular confidence game differs from a
great many others of modern and nediae-
val and ancient date. chiefly in It's phenOm-
email audacity and extraordinary magni-
tude."
The Advertiser compares Jernegan's
! scheme with other similar enterprises and
remarks that substantially that sort Of
swindling has been going on since tims
! so remote that the memory OF man run
meth not to the contrary Our Boston
contemporary furg her intimates that the
fraudulent nature of such concerns -
very well known 10 certain men familiar
( with large business concerns who shut
their eyes because they find 1t proatabls
not TO see II may be that the Rev Mr.
Jernegan. who has money enough TO sus-
port him in luxury during the remainder
OF his life. will not be in hurry 10 return
from Europe It may be that he VIII
avoid the annoyance which would attend
certain possible legal proceedings il hs
keeps away for time. Up 10 the pres
ent time he has succeeded 70 a quite
wonderful degree as a mOney-getter. and
perhaps the ingenuity OF his methods en-
titles him to keep at least a certain
percentage of the amounts which he has
collected by his stOck-seiling schemes.
There is an old adage about the rate az
which gulliole suckers" al
they are commonly called-are born into
the world. II really seems as II thers
were room once in every few years for
an operator OF the Jernegan description.
A few years ago a certain Mrs Howe
enjoyed a great vogue in Boston by means
of a private bank which she opened
in that city Her method was 30 pay
/ back in interest at the rate OF y or =
( per cent the principal of the deposits shs
/ received. taking out little for her OWE
/ expenses as she went along. She caused
+ comfortable Feeling of much riches fOi
I a short time. and died lamented by
: good many whose funds she was not abIG
I to return in full
| Among Mrs. Howe's Victims" as ths3
were called after the exposure. were many
persons who ought TO have seen through
the humbug. So it will be in every SIM
liar case. But the humbugs will not
cease. 1t is only necessary that they
should be new and have some secret on
surprising feature. Then they will "'catch
on every time.