Sunday morning globe., 1901-10-20
HOLDING The BAG
Patrons ofthe Bucket shop orJ over.
ton Paine a. Co

Patrons Otthe Bucket shop ofJ over
ton Paine ~ Go.
That little axiom about the sucker being
born every hour is again verified when the
story of j. Over,ou Paine s. Co., supposed
TO be doing o. brokerage business at So. 1881
q street o. w., is told
August 2o last gentleman authorized
this house Co purchase for him Southern
Railway stock and for his $50 was given
this receipt;
= WALL SHEEr
WAsHINGroN BRANCH. 1881 Z Stu.w.
NEW YORK, IUgHH sa. lyoL
as margins TO &. credited TO my account
J. OrERroN PAINE 81 Co.,
Per NJ. D. j., N9Raglr
Also the following
Branch Houses Boston, Baltimore Phila-
delphia, Washington
Office of ]. OyEHToN PAINE & Co.,
q WALL STREET NEW YORK,
IUgHN 20, fpoL
Mr.. --, VaHjUgiou
We have this day bought for your account
and risk Io Su. Ry. 80
j. OyERroN PAINE * Co.
Two days later hc closed the deal al
profit and received this memorandum
Sold. TO shares SIN. 35.
j. OyEEroN PAINE & Co.
August 22, Iuaba
When he asked for his money he was told
he must get IL from the New York Office. A
week passed andnl money Another week
of waiting and he received the following:
TNNEfN.. TTYrrgr
J. OvERToN PAINE. = WALL ST.,
NEW YORK, September 10, I9oL
DEAR SIR. Owing TO a false item that ap.
peared in recent publication that my house
had failed on May g. / have had a contiuu-
Gus run on same and have been unable TO
negotiate loans ON securities. which I had
as readily rs I desired without unnecessary
sacrifice. have held abundant securities
and would request q at you give me fifteen
days in which to make satisfactory loan.
/ can secure you fully for your account at
any time. No bank or house in Wall street
could iiquidate in a few days their entire i'm
dcbtedness in cash when such false publica.
tions are made. We shall make the papers
publishing them pay dearly for this villain
Gus piece Of work
Assuring you that your account will be
perfectly safe, and thanking you in advance
for the slight extension of time that feel
circumstances warrant and soliciting the
continued confidence in my house, beg to
remain.
Yours very truly,
j. OvERroN PAINE & Co.
Still no return from the investment. Ex-
hibit No. tells of the closing Of the Wash.
ington office:
Member New York Produce ENchangel
BANKING HOUSE, J. OvERroN PAINE & Co,
WALL ST, WAsHINGToN BRANCH, 1881
i STREET N. W.
WASHINGTON, d. c., october 3. ygOL
DEAR SIR: We have decided to close our
Washington Office in this city after to-day
Your account has been transferred to our
New York office and any instructions as to
your trades should be sent there direct
Should you desire to close your account we
will send you a check for the balance.
Soliciting your continued patronage, how
ever, we beg to remain,
Yours very truly,
j. OvERToN PAINE, per G.
Aboutthis stage of the game the investors
draft was returned Still no money More
correspondence, and the following is re-
ceived at the Washington end of the line
written on the official" leuer-head, giving
Wall street address, cable telephone, etc.
NEW YORK, October ~ Ig0L
DEAR SIR: Yours of the 9TH received
Owing TO a heavy run that has been made
against my house during the past three
months and the further fact that some
large sums are due me from Stock Exchange
houses there has been a delay In the coll
lection of large amounts due me. and the
further fact that 1 have been backing
with cash large sums for several manufac-
turing companies, has placed me in a position
where / cannot make prompt remiuances,
until ] can either make a collection of part
of the large amounts due me orarrange a
loan on some securities which have If
you will write to Mr.. George Bristor, 200
Broadway, New York, ! will arrange with
him to deposit securities to protect you
until a loan can be negotiated on securities
which have.
Very truly yours,
]. OVERTON PAINE * Co.
The remittance has as yet to put in an ap-
pearance.