Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-04-19
Plantation Companies Rank
First In the List of Get
Rich-Quick Concerns
HAVE GATHERED in 100000
New Enelanders Said to Have Invest
ed Not Less Than Half a Million in
the Concern-lnvcstors Will Lose
Millions - Promoters May Go to
Prison.

disclosures were made yesterday in the
case of the Ubero Plantations Com
panies. which promise to give the con-
Germ first place rank in the "get-rich-
fury. The developments indicate that
the concern has gathered in nearly So
| 100000 from people seeking good in
vestments, of which 100000 came from
New Englanders, and that its claims
We're largely fictitious.
| Judge Francis G. Lowell in the Uni
pointed Hugh w ogden of the law
| firm of Whipple, Sears & Ogden, and
| Attorney jeremiah Smith. Jr.. of this
CITY, receivers for the Boston Ubero
| Company The petitioners We're mem
bers of the committee recently APP
pointed by the stockholders to inves-
| tigate the affairs of the Ubero Plan
| tations Companies.
While the issuance of fraud order
by the postal authorities against the
| Ubero Companies was not unexpected,
| the report made to a meeting of stock
holders and bondholders during the
| day was of sensational nature and
on top of 1t came the announcement
that criminal prosecutions would be
begun and that the men chiefly res
| ponsible for the squandering of the
investors money were in foreign
climes.
Ex-Congressman w. d. Owens of In
diana is also put in peculiar position.
| He is said to be the owner of the lands
which the promoters Of the company
represented they had purchased in Te-
huantepec, Mexico and at the meet
ing of the Ubero stockholders it was
reported he had received $7,753 in COM
missions for the sale of stock. He is
reported to be in Egypt A. w. Sted-
man and r. c. Hurd of Boston, Off
GERS of the Ubero company, are in
Paris and the postal authorities say
that if they are prosecuted all must
answer.
Ferdinand r. Borges, another prin-
cipal in the company, remained In
Boston to face the excited STOCKHOLM
ers He appeared at their meeting inn
maculately dressed and listened to a
scathing denunciation. in which he
was described as having a record for
wildcat specializing that entitled, him
to being crowned king over $50 per
cent Miller.
Borges was once in the livery sta-
BILE business in Logansport but when
it was tied up in 1893 or 1894 he went
to Chicago Later he was arrested
in Pittsburg for working an endless
chain scheme of swindling and sent to
the workhouse for thirty days. He OPP
Grated in Pittsburg under the name OF
Burgess.
Borges claims that Owens begged
him to go from Chicago to Indianapo-
4 lis to take charge of the sale of Ubero
stock. In short time Borges demon
strated that he could sell more stock
than all the other ,Ubero statesmen
put together. Dividends of 10, is, and
finally 20 per cent We're paid, and the
demand increased, but Borges and
Owens paid out so much in dividends
and spent so much money themselves
that little was left.
Ubero Claims Are Bogus.
The Ubero companies, for there are
two-the Ubero Plantations Companies
and the Consolidated Ubero Plantation
OBSERVATION-DISCLOSURES to raise rubber,
coffee, lines and other products on
lands they represented to own in Mex
leo, but Postal Inspector Snow, who
Investigated, reports that they raised
only corn to the value of $1,45S, while
they bought their coffee in New York
and packed it as "Ubero growth" and
sold it by agents turnout the coun-
try.
1t also developed that the companies
did not own g. single rubber plant or an
acre of land in Mexico.
At the stockholders meeting in Lori
mer hail. which was crowded, o.
Childs, for the investigating commits
tee, reported that the lands were own
ed by La Puerta companies of Indian
apolis, and that most of the Ubero
companies money was paid to these
concerns. They had records of the
transfer of $685. 900 to La Puerta COM
panies by the Ubero company of Bos-
ton alone, ard they recommended that
| legal action be taken to recover it if
possible. The committee further re-
ported that $555,543 had been paid in
salaries, and commissions, and that
$70,296.04 had been paid out of the
subscriptions as dividends.
FrightfuI Suffering Relieved.
Suffering frightfully from the viru-
lent poisons of undigested food, c. c.