The Greenville journal. [volume] (Greenville, Ohio) 1850-1918, 1908-02-06
Comptroller of the

HON. WILLIAM q. RiDoELY.
Did you ever observe the fine craft
with which the experienced angler
picks the fly for his trout hook? The
nice discrimination with which he
chooses between several daintily
feathered bats which, to the ordinary
angler, would appear to offer to the
shy and tickle trout about equal possi-
bilities Of temptation? And the more
timid and backward the trout happen
to be at that particular place and sea.
son the greater the care with which
the follower of Walton will weigh the
merits of one fly against those of an.
other. placing theory and hearsay
evidence on one side and his own per-
sonal experience on the other
All the cunning and discrimination
which the expert angler throws into
the choice of the feathers which are to
disguise the hook and tempt the trout,
the clever investment schemer puts
into the picking of phrases with which
to feather his appeals to the credulity
of the small investors of the country.
Angling for trout and fishing for in
vestment suckers" have many points
of similarity and the most obvious of
these is the art with which the bait
is chosen and arranged. In the one
case the materials employed are feath-
ers of varied colors; in the other the
skill OF the workman is demonstrated
by the cunning with which he handles
words and phrases which experience
proves to be sure in their appeal to
the curiosity, the interest and the
cerdulity of men and women who
have saved a few dollars and wish to
make them productive.
In all the phraseology of tricky
finance there is no word so over
worked as guarantee" And this
means that experience has proved it
to be highly effective in the hooking
of suckers" Depend upon it that
no word or phrase achieves marked
popularity in the literature of the
small investment" appeal which has
not demonstrated its rare effective
ness as an agency Of deception.
II the small investors of this coun-
try could reach anything like a fair
knowledge of just how much and how
little there is in each of these appeal
ing catch words" in each phrase, the
plausibility of which has been scien-
tifically tested, they would be we'll on
the way towards being able to protect
themselves against the cleverest and
most convincing of these appeals.
Perhaps the writer can do the public
more service in analyzing few of
these star phrases" than by any
amount of denunciation of the wild
cat schemes and schemers which de-
serve rs harsh characterization as
any man can frame. But, to return
to the word guarantee" which has
attained first rank in the terminology
Of the investment trickster, there is
tisement or any other piece Of litera-
ture put out by the pot hunters of
small savings which does not display
tho word guarantee" in big type and
with reiterated emphasis. If the insti.
tuition chances to be of financial
character itself rather than a mining,
oil or Industrial concern, the word
guarantee" or its twin, security"
will be found Incorporated into the
name OF the company. Get a list of
100 wildcat investment schemes
which are dead beyond hope of resur-
rection and it is safe prediction that
one-half the names will contain the
words guarantee" or Security"
These two words are as common to
the eye in the graveyard of fake In
vestment schemes as are those of
Smith, Jones or Brown in any country
cemetery: they adorn practically
every other tombstone in the last rest
ing place of defunct financial frauds.
The question of the value of either
of these words in the title of cor
poratibn or concern is disposed of by
the statement that there is no legal
restriction in the choice of names of
companies; the organizers are as free
tON name their flimsy creation THE
Rock of Gibraltar Guaranty Security
Company" SIS the parent is to saddle a
weak understood male child with the
name Of Samson. And, as a rule.
there Is as much license or propriety
in giving the name of the mighty enc ,
my Of the Philistines to stunted boy
as there Is for applying the name
guaranty or security" to a com.
pany which goes out after the savings |
Of the small investor" Why? BE. |!
cause the companies which are really |
warranted in making either of these
words part Of their corporate name |
do not have to go into the highways |
and hedges and beat the bushes for |
their business; 1t comes to them by |
force Of their financial strength. They
have no need to drum it up
However, scores of oil, mining and
investment companies which do not
use either Of these clever catchwords
In their corporate titles cannot be
charged with undertaking. the "pull- I
ing power" of such phrases; in their
literature this kind of bait is en-
pioyed with the greatest skill and
One OF the most common ways in
which this idea is dressed is this:
We guarantee you under all condi.
lions and At all times to get you. with I