Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1902-09-30
A SUCCESSFUL FIRM,
Douglas Lacey & Company
Banker and Brokers, New
York
Will Open Up Branch Office In This
CITY October 1st.


This firm, while but an infant COM
paratively, is as well known and hlgh-
ly respected in the financial world at
the present time, as any company OF
bankers and brokers from New YORK
to San Francisco. In keeping with
their original policy, branches are
maintained in most of the principal
cities of the country which serve as
headquarters for the respective sec
tions. The Aultman Bros. will nave
charge of the Akron branch, their office
| will be located in the Hamilton build
ing, No. 11S, first floor. The Aultman
Bros. are well known young business
men of this city, they have been con-
nected with this firm for the past two
years, and have a large list OF Gus
toners in this city who are well satis-
fled with their investments, and many
of which are now receiving dividends.
The territory covered sby this branch
will be an important connection to
this great institution, fas 1t will hai.Sie
all the stocks for which Douglas Lacey
& Company are fiscal agents, who are
| known all over the country for
their conservative methods. The firm
of Douglas Lacey & Co, is the only ex-
/ elusive mining, banking and broker
age house in the United States. 1t has
"a branch offices and IL agencies in
every portion of the country with main
offices Is New York, at 66 Broadway
and II New street. Its immense bust
last three years. Three years ago this
firm occupied one small Office in the
| Manhattan Life building on Broadway.
Today it occupies one-half of an en-
tire floor, and is already arranging to
make a further increase in space.
This firm has over 10000 customers,
and yet have to record single in
stance of loss for customer or Il case
of dissatisfaction; their satisfied Gus
toners Is their best advertisement. This
firm makes mining, with its allied
branches, including the oil and smelt-
ing industries, business. 1t en-
ploys staff of 20 mining experts,
including several of the best metal
lurgists and mineralogists In the United
States. The development OF prop
erty is never undertaken without the
most thorough investigation and ia
vorable reports by their experts.
When one of their properties Is to be
developed block of the stock Is sold
at low figure. AS the development
increases and the value of the mine
becomes determined, the price of the
stock Is increased, but in no case do
they sell more treasure than Is neces-
sary to develop the property. and place
1t on II dividend paying basis. The
firms business is the development OF
promising and meritorious prospects
and not the purchase of fully develop
ed mines at enormous figures. The
distinguished feature of Douglas La
cey & Company, and that which takes
it's business out of the general class
of mining properties is the applica-
tion of the principle Of general aver
ages, principle old in insurance, but
new in mining. 1t is based upon the
assumption that while every mine
cannot be a success, neither can all OF
them be failures. BY an application
of the principle of general averages
this firm is enabled to guarantee the
financial success of an investment
for the reason that because of the large
number of propositions that 1t has to
choose from. If one chances to be q
failure, another more successful will
be substituted. The application OF
this principle seems TO be one of the
principal reasons for the remarkable
development of this company's busi
ness. Douglas Lacey & Co. retair
practically controlling interest in al
, the properties whose stock they offel
for sale Customers are thus assured
that careful and conservative manage
ment will be given the properties II
which they have invested, the prop
critics handled by this firm have beer
! unusually successful, and not only are
large profits being made in dividends
on their stocks, but the intrinsic val
ue of the stocks themselves have in
creased several times, and you viii
find after investigation that this firm
has succeeded by their businesslik'
methods In making mining investments
respectable.