The evening times., 1899-11-27
The Plight of the GuIItbIe

Hundreds. and perhaps Thousands of
| contiding persons in New York city and
elsewhere are bewailing the loss Of various
sums Of money entrusted TO a so-called in
restment syndicate with headquarters in
! Brcckiyn borough. The funds were Sc
cured from an army of working people
through the alluring promise that invest
| ments would be made to yield the enormous
return of ten per cent weekly. The dupes
were attracted by means OF temptingiy-
/ worded circulars and letters, used in con-
( junction with other canyassng devices and
| their suspicious. if any were entertained.
/ were allayed by the explanation that the
manager OF this marvelously productive
venture was the originator Of system OF
! operating in Wall Street. which. inferen-
tally. was so remunerative that he could
easily pay the liberal percentage mention
ed for the use of ether peoples money.
| Attention having been directed 10 the i'm
{ possible offer and suspicious methods of
this alleged investment syndicate by the
metropolitan press. and i sIamorcus de-
nmnf for the return of their cash having
! been entered by many OF the aroused Gus
toners. the collapse inevitable followed.
coincident with the disappearance CT the
I perpetrators of the swindle and their in
dictment by the Kings county grand jury
Thus has another chapter been added
tothe lengthening record of the vain grief
of the gullible. 1t seems to be one more
revelation of the scarcity of common
sense, Notwithstanding the growing ten
dency of the great American public to
plume itself with pride and loudly boast
of the extraordinary sagacity of its rank
and file.
II y not unreasonable to believe that at
least tscVenty-tiye per cent of those who
lave been victimized by the Brooklyn in
yostment game had read or heard. or more
than one occasion prior 10 the surrender
/ of their cash to the afTable and convincing
iraneiers who are missing. of schemes not
broadly dissimilar employed by individuals
with more shrewdness than morals TO rob
the unwary Of their wages and their saw
ings. II is not beyond reason 10 presume
that, in view of the cheapness of newspa-
pers. which have been repeatedly exposing
such frauds and warning the thought,ess
against becoming the prey of others bound
To rear their ugly heads. many of the dis
consolate investors in the Brooklyn syndi-
cate have perused published accounts of
very, similar enterprises and marveled at
the almost idiotic trustfulness of those who
did what they have now done.
The trick played by now absent con-
spirators was almost as transparent as
good plate glass. and the yerest novice in |
figures. especially if he had knowledge OF |
what. banks pay for the use of money. |
shouI,lhave realized that. where small cap |
ital was promised such a remarkable earn
ing power there must have been the best |
OF grounds for cautious enquiry. if not
solid reasons for standing aloof.
Besides, there should have been taken
into careful consideration the strangeness
of the proposition that man having such
Il safe and infallible method of squeezing
Wall Street for gains should require con-
stantly Increasing bank account. furnished
by small contributors to whom he was
willing TO pay a rate OF interest that
would in a single year equal more than
five times the original capital.
However, there seems to be little virtue
in preaching explanatory sermons on these
things after they have happened. Perhaps
some few persons who were unaware of the
lawless tricks resorted TO for the purpose
Of securing ill-gotten gains may be saved
from the fate of those who are now sadder
il not wiser for their bitter experience
But however regrettable, it is not improb-
able that at some not far distant day new
band of plausible rascals will lure the
hard earned dollar from its security ac-
.umulate a stolen fortune and leave
another. army of gaping innocents cha
yrined,- penniless, and inconsolable.