The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-03-09
International Zinc Company In
duced Innocent Persons to Ac-
cept Stock for Use of Names.
FOOLED JOPLIN POSTMASTER.
Schemers Said to Have Realized
More Than $500,000--Little
Hope for Stock
holders.
REPuBIIC SPECIAL.

REPUBLIC SPECIAL
Joplin, No., March S.-The great 1nterna-
tional Zinc Company swindle developed
some new features to-day when d. Is. Wen
rich, Postmaster of Joplin, and George f.
Quinby. former State Mine Inspector. who
were represented as vice president and con-
sulting engineer of the company, denied
having had any connection with the COM
pany.
Postmaster wenrich said he was prom
ised 5000 worth of stock In the company
II he would allow the use Of his name as
q director of the company, which was to be
stocked at $4,000. The company was
stocked at s1.oO0.O00. and Mr.. Wenrich. at
Joshua Browns suggestion. was made vice
president of the company. AS soon as he
knew he had been made vice president and
tho stock had been increased four-fold. Mr..
Wenrich resigned and withdrew from the
company without ever receiving the prom
ised $500 worth Of stock.
George E. Quinby's Experience.
Mr. Quinby's experience was similar to
Mr, Wenrichs. Joshua Brown & Co. OF
New York, the promoters and only people
who made anything out OF the big swlndle.
wanted to use the names of these officials
in order to help sell stock. A. c. Foster,
-. ..
tary and treasurer of the company. it Is
said, were also imposed upon by the al
legged New York bankers Joshua Brown &c
Co of No. As Wall street.
The properties Of the international Zinc
Company consisted of some mineral leases
and two zinc mines of small value. They
are said to have sold more than half a
million dollars worth Of stock at almost
par. the purchasers. as rule, being wage
earners and people Of small means. Most
Of the stock was sold in the Eastern States
opH IN nrOmOtprS
sold all of the stock they could Joshua
Brown & Co. quit working the mines,
closed their New York office. and. it Is said.
Tho company is now in the hands of a
receiver, and there is little chance for the
shins ior their money. This % big % swi1die is
causing much Indignation here. because 1t
hurts good mining properties. and this dis
tFict has usually managed to escape swim
Stockholders Will Fight.
REPUBLIC SPECIAL.
New York, March S.-Unlike the victims
Il. % os The %s zn
Company Of Joplin. Mo, which has just
failed for upward Of 81, 600. propose to
make nght to recover their money. They
through tho solicitation of the firm OF
Joshua Brown & Co.. who advertised us
bankers. with offices at No. 46 Wall street
ton. and No III Chestnut street, Philadel-
phia.
that time nothing has been seen OF Mr.:
Brown IN the business district though ne
Is reported to have been at the Waldort-
day. Tho arm was composed Of Mr.. Brown,
Doctor ], Grant Lyman and Charles Hart
well, and In addition to floating the Inter,
national Zinc Company It was instrumental
in putting out several other zinc corpora,
dons.
pourin1 In to the abandoned offices Of the
firm the victims Of the International Zinc
Company arc numbered by thousands. They
arc as class people IN Ssnn the most 1t humble
workers. who oan III afford the loss OF their
WIN Fight for Redress.
That the stockholders are not going to
tsmely submit to tho losses was made clear
to-day by Charles Doughery, an exporter,
OF No: s. Well street. who was caught by
zinc company. inserted In the papers by
Joshua Brown & Co.
Mr.. Doughterty said to-day that a meeting
Company had been called for March 16, to
take some steps to recover property from
the members Of Joshua Brown & Co..
who are still in the city. Doctor Lyman,
who, according to Mr.. Dougherty. owned
three-ffths interest in Joshua Brown &
Co, is reported to be a man of con-
q member Of the Stock Exchange.
.sIt is the most wretched case I have ever
heard Of" said Mr.. Dougherty to-day, land
II 1t is q possible thing We are going to
make an example of some one for this de-
ception. have met many OF the unfortun-
ate stockholders, and the stories that some
Of them tell are truly pitiful. There really
should be some redress for the poor people
who have sunk their money in the thing.
and, as the partners Of the concern are
rolling in riches, 1t looks as II the promoters
had not suffered by the collapse"
The revelations as to the company which
reached the city from the West to-day were
Of q most startling nature.
Made q Great SplurGe.
Joshua Brown & Co. made great splurge
while the zinc boom was on. Both Mr..
Brown and his partner, Doctor Diman, lived
at the Waldorf and talked nothing but zinc,
its prospects and the vast fortunes that were
to be made In II,
Doctor ]. Grant Lyman. at his house, No.
III West Fffty-seventh street, admitted to-
night that he had owned three-fifths of the
stock of the defunct firm of Joshua Brown
& Co., but denied that the firm was respon-
Zinc Company.
Joshua Brown & Co. has not made a
cent out of the concern" said Doctor Ly-
man Instead, they lost all their capital.
and personally. besides the money in
Co. lost s75.ooo in addition. which i ad-
vanced from time to time.
IF there was any fraud It was due to
A. c.. Foster and J. B. Carmichael. the
original projectors of this corporation. who
mines. Not much over 100000 was ever
| raised. Joshua Brown 8: Co. consented to
go into the affair after Barrow, Wade and
Guthrie, the accountants, had made an ex
animation and certified that things were
as Foster and Carmichael represented"