The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-07-28

themselves receiving seven and tent
and even a greater per cent on their |
own Investments. Al! over the coun,,
try the public mind has been trained
that paid more than four per cent. |
The fact Is overlooked that not one
of our great fortunes could have been
accumulated on the basis of such
return"
Ny mind instantly adverted to such
names as Rockefeller. Carnegie,
schwab, Morgan, Ryan; BELMONT and
thousand others. and / felt the truth |
OF Mr.. Kings concluding remark
An Uphill Fight for Principle.
In urging these views. observed;
gone altogether. unopposed2" 81.
Mr. King smiled the smile or one
who has fought and won u war
Said he: Il; have naturally, had to 4
contend wilma great deal OF opposi,
ton; but the idea for which I stand
has grown TO be. recognized az, move
nent There Is an altogether new
feeling prevalent regarding stock ex-
changes and the manipulation OF Sc.
paid by banksl How much ! have had
TO do with this. ! would not attempt
TO say, butsthe fact remaina.. Several
of the Massachusetts, banks have
raised their interest rates to posi-
tors within the last year, and others
are bound to- follow"
Tell me more about Eour methods,
said /.
taIY work is done in this manner:
a representative of; a corporation APP
plies to me to sell its securities As AS
financial agent. ] want to know al
what 1t has. Possibly find flaws In
the orgniaztion, and insist on having
the charter amended They may have
lative; or possibly this preferred stock
does not permit the holder to vote at
annual meetings, insist that the
charter be amended so that this holder
is non-cumulative, must have it
Non cumulative means that. # a
dividend be PASSED enc year because
IA good year--the company earns@i2
per cent. or IA per cent. they do not
have to make good the passed divi-.
dend, but can distribute II to the COM
mon stockholders. Cumulative means
that all passed dividends must be made
good as soon as the earnings permit
Scores Turned Down to One Accepted.
Another thing: l insist upon be-
ling represented upon the Boards OF all
corporations for which become finan-
cial agent must know what is go
/ ing on. The books must be open to.
me. | must be consulted about the
as financial agent j make it my bust
ness to see that the investor is pros
tected. Ny motto and slogan IS, and
always has been, a Square Deal for
| all Investors"
From what you say 7 should fancy.
| during the year.
II turn down one hundredfold what
OF both the property and the company.
My word and my reputation are bound
up in every share Of stock that sell;
and T take no risks"
In this connection let me step aside
to say that, while at dinner in tho
Touraine with a lawyer OF high posi-
ton and Beacon Hill ancestry. I quoted
!, Its the precise truth, said he, and
4 has not been All offering in any Of
many as eight pages some days--in
! the past two years. which was not
/ first presented to G. e: King do
not believe there have been as s many
! ton. which did not first try to prevail
upon him to sell their stock. And the
4 same is measurably true In New York,
j although not on as large a scale. be.
Las here
LET me tell you my experience.
parties very strdn sge FSm Gen.
i and consulted with some Of their
I! friends in regard to putting out some
sold mining stock, It wa, was 3 ood stock.
! w
one man In Boston who could sell the
II stock 1t was G. r. King. Those peo-
! pie had previously interviewed the
n gentleman in charge of Mr.. Kings
Investigation Department and he had
4 turned the proposition down.
!. Cannot De nribed To Lend His Name.
. ''rhey learned that / was friendly
with G. F. King, and offered mo q
fee of $4,000 If J would prevail upon
. him to offer their stock from his Of
[ flee. told MI King the story--told
him q the $4,000 fee-.and urged hin
Ito look into the character OF the stock
become flnaneiIssl agsInt q tn
so. Mr. King was kind, but firm He
said he thought the stock all right
but that he would not take up gold
mining proposition on general princi-
he would not consider It."
Eyes, indeed" continued my law
/ friend with a sigh, as he reflected
Upon those five thousand dollars lie
j2didnst get, &c t, King Is rook-founde1
when It comes to the PRINCIPLES upon
which he CONDUCTS his btlsinest go
/ Nothing can move him. People haze
, offered him ten th.oeusand dollars 4
fporation and lend them his name. ever
: and he refused. II takes resolution
) to do this. Had he but. accepted &
S limited number of the hundreds al
!. glittering propositions presented IL
him by different corporations during
! the past year, and offered their Sc.
! curities OH the liberal terms proposed
. 1t would have given him profit. opel