Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-04-03
SCHEMES OF
FAKE CONCERNS
How Dividends Are Declared on
Prospective Mines,
WORKING PEOPLE GULLEp'
Disgrace Into witch n Nevada COM
pany Has Fallen Postal Authors
ties Making Investigations

--
The eastern states are flooded with
fake mining schemes which are GER
tain to do great injury 70 the promo
ton Of legitimate mining enterprises
II not administered an early checking
10. For several months past many
papers published throughout the coun-
try have contained attractive ana al
Turing advertisements in which the
guarantee" dividends to the purchaser
Of stock Immediately after the certlii-
cate has been issued. These concerns,
In addition. get up some very Attractive
literature. all OF which looks very nice
TO the "uninitIated'
OF course 70 anyone who know any
thing about mining, schemes OF TINS
Kind are Immediately branded as
frauds. But It Is the poorer working
classes that are caught and likewise
caused to suffer the loss Of their hard
earned money. This class OF struggling
humanity, being anxious To better their
condition Of life. have fallen easy prey
TO the schemes of these fraudulent get
rich quick concerns Fortunately as far
as known, no attempt has been made TO
float any Utah mine by such methods.
But Idaho, Nevada and some other
states h ave had TO contend with them.
over near Winnemucca, New, a group
Of claims was taken up by firm OF
fiscal agents In the east. Dividends
Of per cent a month were 'guaran-
teed" to shareholders and the appalling
mlsstatement was made that the mine
had 50, coo, 900 worth Of ore In sight, The
Silver state. published at Winnemucca,
has the following TO say about this par
tlcuar case:
1.-THE Silver State Is in daily receipt OF
letters from eastern towns asking
about the Califofnia-Nevada Min
ing company Intending investors de-
sire to be Informed II Il Is true. as the
prospectus states, that the Victor mine
has s2,O00o00 worth Of ore in sight
The writer finds It impossible to reply
to all these letters unless he hires
stenographer and takes this means OF
replying to one and al Inquiries
moi The Victor most certainly has
not 100000 worth Of ore In sight All
it has It tunnel run In country rock
The company owning the Victor Is n
pack OF scoundrels who are getting
rich on dollars wrung from the pockets
OF gullibe workingmen, who believe
everything they see printed. The Calf
fornia-Nevada Mining company Is as
guilty Of grand larceny ss though Il
was in the bank robbing business, al
though It's methods lack the dignity Of
the latter calling.
The operations Of this company are
doing more 20 injure Nevada than Ton
opah is doing TO build It up.
1T is regrettable that the prepare
tlons TO prosecute the company are
moving so slowly
This company Is only one Of the sew
eral that have been thuswise "promot-
ed"
The News is in possession Of cir
culars from concern Of this charac-
ter which purports TO do business In
New York, London, Paris, Berlin and
other large cities II viii be seen from
the following that the dividends sim
ply amount 10 return OF certain
portion Of the money invested by the
purchasers OF stocks The portion OF
the circular bearing on this points
reads;
Some companies think that by off
ering their stock at a low price without
any dividends or interest is big thing,
| but we wish 90 say TO you that you
cannot buy something for nothing, and
| II always pays to maintain stock close
| TO par. If you have something which
| In one or two years OF hard work Will
| be worth good dividends or interest
| start out right. sell your stock at par
! don't ask the buyer TO wait until you
earn the dividends or interest, but put
your stock on a dividend or interest
paving basis at the start. A dividend
or interest paying stock has value
TO Il. A stock that does not pay q div
| idend or interest has no value and VIII
not sell. We charge five 90 per cent
for sailing stocks and the amount of
| diVi0ends or interest you wish US "a
guarantee In addition. II you wish us
TO guarantee one year dividends or in
terest al 10 per cent then our full charge
would be 10 per cent commission, % per
cent for ourselves and 10 per cent for
dividends or interestD II longer time
say two years dividends or interest Is
TO be guaranteed, why our commission
would be IS per cent, 90 per cent for
| dividends or interest and 2 per cent for
ourselves, We can sell your stock II
you VIII allow US to put II on the mar.
ket right We only 60 to people On ouI
own books Your fault has been that
you expect TO sell nothing for some.
thing: get right down TO hard facts
you must employ experts IN the art OF
selling and handling stocks and people
who know how 20 place your PROPOSE
ton before the public 50 that II win sell
In other words your printed matter
must be so nicely written and wordet
that II contains only the truth, but ~
such a rich vein that 1t WIN take holt
and people will become lmbued with IN,
possibilities Of your company and In
vest their money with you You who
have been success IN other walks Of
NE. are not posted as 10 what Is need
cd 20 dispose OF treasury stock Civ,
/ US the names OF your officers and d.
I rectors name Of company. where in"or
porated and when, total capitalization
how many shares how many share
have been sold, how many you wlsl
sold price. and forward TO us such In
formation as YOU have regarding you
comnany's holdings. and we win max
study OF the best possible name
your proposition should be mac i he
fore the public and II we decide TO talk
hold of same we VIII submit coutrac
90 YOU for your approval Also stat
what dividends or interest YOU exrec
90 earn and how long before YOU ca
earn same. We are up~to-date az,
have every facility for putting you
cow"qnv on its feet. You nay us corr
miss on only AZ fast os tosck Is sod
, You can fully realize that rer cen
rer month interest rayahle month"; (
fNe best inhucemeni YOU can have
that solie your stock. we are IN bushes
b. r.1 ~-f e''~ eo-u1 ~ confrac
) sells. People In mining oil or stoo
irr hrrlrrer must realize that In or
b ger "a -tfr,fa1 Won r,stcs ont aura