The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1905-02-17
Resort % Washing.

In other words. they agreed TO hem
selves purchase the stock at high FIG
IRE. in order To set that as the market
rate Par being five dollars and they
having obtained IL al one dollar they
arranged for street sales at $3.50
and S.. themselves buying at that
rate. in order 10 show that the stock
was active and tc induce the public 10
buy al the same price.
In point Of fact so as 10 make a show
ing Of large sales. those who were sell
ing the stock were themselves bidding
on Il. all the Transactions being credited
on the books IL has been shown that.
lured by this system. one outsider
bought 10000 shares. al from s. 50 to s.
In disposing OF the stock. Munroe 4
Munroe washed about 5000 600 shares
~ more in the process 81 getting rid Of
about 10000 shares. for which they are
said To have paid the company not more
+ than $3.50 coo in all The brokerage on
raising this $3.50 600 is more than SlQe.-
600. because they had 70 pay commits
siOns on the whole 300O.000 shares.
How Sales Were Made.
The Munroes would give orders 10 GER
tain brokers TO sell and 10 other brokers
to buy When they sold they would
get a check the following morning and
then they would use that check. turniI g
4 il over to the brokers they had employs d
TO buy The result was that December
/ :. the Gay OF tie failure they received
- ef.fa
the day before and they used these
checks to pay for stock they had boug b.
the Gay before. but when ii came 10
| their paying for the stock they bought
on December = they had not the money .
the endless chain broke the Munrces
went into bankruptcy. and all these per-
sons are creditors for the stock.
Before this situation was reached
however. the Munroes had their day q.
prosperity. CT. rather, George did, for lie
is the head and front Of the combiua-
ton. even though his brother was sen
Tor member Of the firm when they
came here they were aggressive and en-
thusiastic young fellows. Of the type
. that IS liked in Wall street and they
quickly made friends Mr. LcOmis was
, one vi these. and Leach another AM
both Of these are names TO cOnjure viii
in financial circles LOOMS becam,
chairman Of the syndicate executiv,
: committee. and it was through his in
fiuence that the loans were obtained
from the National City bank.
Reputed a Millionaire
The friendship OF men like thes,
. brought other friencs 10 the brothers
and before long George Munroe va.
reputed 10 be q millionaire. 1t is sal,
be lived al the rate Of from $4,000 L
100000 a year. this young man Who onl!
little while before had been haber
dasher He had a luxurious home o.
East Fifty-seventh street. and ancthei
al Southampton. T. r. ard often be &C
cupied a suite at the Waldorf storia-
A Costly Junket.
lie always did things in lavish fash
ion When Montreal < Boston wa
ar tue height 81 its exploitation. Munro
thought ID would be a good plan 10 le
those whom h. y as try ing 70 interest il
THE NtAH ANAWAN AAAA' IANl Ha 4NRh
il lies away of ia British Columbia. o.
thu foothills % the Selkirks. and il cost
money IL take a party ont there n
never considered the expense pr
waite car was chartered loaded wit
everything of the best in the ccmmissar.
line and the junketers started away
George could not go. but Alexander too
charge
The party included senators. banker.
politicians. and newspaper men-eysrg
body in fact who might be II some al
in advertising the mine.
They stopped az various cities on th
way oui and had a jolly time
Not Unlike Fiction
The revelations in the MunrOe cas-
make it not unlike The story told Ia on
OF Emile Gaboriau's novels in which
Partisan set Of men in the sixties VIII
needed Office furniture rented il by n
week from a firm whose business il wa
10 outfit people who needed SUMPTION
Offices temporarily
The firm Gaboriau pictured could. o
short notice. give any Office the appea
ance Of glittering wealth. II rented OF
massive desks. cashiers grills. safes al
pictures II kept constantly on hnrd
supply al curios for special purposcs
mineral specimens for mining ION
pau.es. orientsl curios for people j. q
CHINA trade. and chunks ~ crude sob
ie FOR rubber companies Such OBJECT
scattered carelessly about the offirt. ga
X an air of busy industry and eeng'A'ne
be 10 any old enterprise.
IA But 1T is not necessary 70 60 a. Tar
as this In these DAYS. as II j. shown IL %
81 case that modern finance has sross
ar ! improved methoLs