The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-05-12
SLICK SCHEME

OF a Charleston Lawyer, Showing How
10 Defraud the state-A Singular Cir
niar-"The Virginia Security Com-
pany.u
Charleston Gazette: Considerable IN
terest has been aroused In the dotngs, or
rather misdoinss, OF one E. L. Squire.
the so-called charter attorney, whose
practice. SO far as can be ascertalned IS
the practice of beating the state out OF
$40 every time he obtains u charter.
which Is every chance he gets.
1t will not be unlnteresting then, to
take a glance at the methods adopted by
this man in his operations preliminary
to neecing the state.
Squire operates as the secretary Of
Tho Virginia Security Company" q
corporation which appears to have its
principal Office In. the secretary's capa-
clous pockets. Squire Is q small man,
but IL permitted to continue his depre-
dations upon the state at the rate he has
!. been doing for the past six months, 1t
wouldn't take him long to have the en-
tire earth In, his pockets. BUTT return
to.the Virginia Security Company. Its
whereabouts and origin may be a mys-
terry, but that. 1t Is in q state Of PERM
clous activity no one can doubt.
Here Is n sample advertisement ap-
pearing in n OF the metropolitan
dailies: !.
.Start new year by Incorporating;
charter S.; taxes $40; no liability; no
meetings: we furnish signers, saving
you $40: shares sold. Virginia Security
Co.. Charleston, W. Va"
That Is all. The advertisement begins
with some on year advice. "Incorpo-
rate" It don't say what; 1t really don't
make any difference; air Is cheap, incor-
porate that: the Virginia Security Com
pany sells the shares. The main point
IS to incorporate"
The result OF tanrad. oNthis sort Is gem
5erally Immediate. The Accommodating
secretary receives letters from people
anxious to Incorporate, falling over
themselves in q wild. riotous desire to
.1ncorporate." In his voluminous cor
f~respondence, the secretary sometimes
receives letters from densely honest and
%Sloriously guilelesS people asking him:
Incorporate what? In the name Of
heaven. Mr.. Secretary, what are We to
Incorporated"
Then the secretary sends them a little
circular, signed by the company" and
Y often accompanied by a letter which Is
In his own acknowledgement 4 letter as
happens at present to be in the possess
sion Of the Gazette.
This circular Is a masterpiece in Its
way.
1.-THE expenses Of obtaining q char
ter" 1t says, Through this company are
less than II you applied for It yourself.
We save you $40 4 year afterwards, by
furnishing five residents OF West Vlr-
ginia to apply for the charter under the
y head OF Domestic Corporations. A for
eisn corporation pays a license tax OF $50
q year, but n domestic corporation only
pays SO O year. II you apply for a
charter yourself you will pay $50 a year.
~ Even II you claim Charleston as your
principal place OF business It has been
decided that, being nonresident incor-
porators, you fall under the head Of for
elgn corporations. Be on the safe side
and let us do .. r!ghtD
I'VE furnish five business men here
who sign the application for charter. pay
for the charter and license, hold the first
meeting as incorporates and then sign
transfers Of the shares IN blank. We
adjourn to our office, where YOU md
your associates holding the assignments
y hiiS WI 81 htkhNb NbA LioAa -
meeting and elect directors and officers.
We sign a record OF our meeting and
send 1t to you all complete"
The document then goes on to gay,
For your services and the services OF
the incorporates we only charge a very
small fee"
The following Is Ingenious: 1.-THE laws
OF West Virginia, although liberal, arc
disnifed and explicit. and companies of
the highest grade. as well as companies
OF a speculative nature, are being FORM
ed by Us from north, south, east and
west"
The covert suggestion In these words
the reader may discover at hls, leisure.
Further ondown occurs the following re-
NJ marlsable statement:
You do not have to pay In any capital
at all Mt ttma OF organizing. We organ
izel for you and after you get tho charter
you can" etc, do most anything you
please and .'as compared with the pecu-
~liarities Of other states you will be
pleased to know that:
You don't have to keep any books or