The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1906-12-08
CLEVER GOLDFIELD STOCK SHARP
DR.. J. Grant Lyman of New
York Turned a Big Trick in
Nevada Gold Camp

Goldfeld, New, Nov. 30.-A gigantic
mining stock swindle, from which DIR.
J. Grant Lyman of New York is de-
clared to have realized $500, 900 within
80 days. was uncovered to-day by the
arrest of E. II. Latimer, his secretary.
and a statement made by Sheriff Bradley
that he has wired instructions to the
chief of Police at Pasadena, CAL, to
apprehend Lyman. Creditors from the
East have been arriving in Goldfield
for the past two days, bent on recover
ing from Lyman large amounts due for
unpaid drafts with stock attached, and
the losses of individual brokers through.
out the country vary from $4,000. in the
instance of q Milwaukee man, to
$23. 900 in the case of one Harvest
broker in San Francisco. Salt Lake.
Chicago, Milwaukee and New York
have been the victims of a fictitious
market on a strike promoted by Lyman
and rugged by him in 80 deft a manner
as to cozen some of the best known and
DrOheis III tuo Ohiiou oeoeoe.
Soon Got Busy
Lyman came to Goldieli about two
months ago, when the Greenwater cop
per boom had just started, and i'm.
mediately pulled out in an automobile
for Death Valley. Within three days
he returned and over the name of the
Union Securities Company announced
the incorporation of the Boston Green
water Company, publicly stating that
the property had cost $500. 900 cash and
that he was offered $500. 900 for it; that
Augustus Heinze had subscribed for
500. 900 worth of stock; that 400. 00O
shares were taken by copper mining
experts in Butte, and that the mayor
of Butte. Montana, was a director OF
the copper company. These announce.
ments he made in the Goldfeld prints
and in advertisements which appeared
in the large cities. At the same time
he telegraphed to mining stock brokers
; throughout the Union. offering then
5 stock in the corporation at 371a cent
5 per share ON their guarantee that the,
wonld not dispose of same at less thar
e 45 cents. and in these kilograms claim
! ed that John S. Cook. who is a partne
: of United States Senator Nixon ant
George Wingfeld, Goldfeld multi-mil
' lionaires. in the ownership of the JohI
8 s. Cook & Co.. bank. was president o
u the Union Securities Company.
Brokers Reached for Easy Money
Brokers throughout the country &C
n cepted these options and ~immediatel,
. commenced to place the stock amonI
: their friends and customers. AS sooI
as all these orders were filed Lyman
announced that the issue had been over
4 subscribed by half a million shares
Having MIXED the public he then begar
to handle the brokers. He shipped larg'
blocks Of stock to confederates in New
York, Chicago, Salt Lake and San Fran
cisco, and instructed them to offer thu
stock to these brokers at 30 cents pc
! share. Co-incidentally he telegraphe'
| each and every one Of the brokers, offer
ing them 80 cents a share for all tn
Boston Greenwater Copper they coul'
deliver. The brokers fell. They eagerl,
gobbled up all the Boston Greenwate
offered at 30. Then they attached tn
stock to drafts and shipped it to th
Union Securities Company here i
Goldfeld.
Payment Refused
As fast as the stock arrived paymen
was refused on one ground or another
= Each broker, thinking he was tn
-, only one affected, and that there mus
!, be some error with an institution tina
had John S.Cook at the head refusing il
drafts. correspondence, an
exposure was in this way delayed. Fe
" the past three days representatives
re- these brokers and Of newspaper
throughout the Union. who accepte
Lyman's advertisements without cas-
rs with the order. have piled into towr
and an investigation and compariso
Of notes, etc, ensued. On Monda
, Lyman, apparently convinced that tn
jig was up, skipped town, %announcin
that be was threatened with pneumoni
M and was going to San Francisco Il