The L'Anse sentinel., 1908-02-15

HON. WILLIAM ,. 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 few dollars and wish to
make them productive.
In all the phraseology of tricky
finance there Is no word 30 over
worked as guarantee" And this
means that experience has proved 1t
to be highly effective in the hooking
Of suckers" Depend upon 1t 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 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 well 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 as 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
scarcely circular. folder or adver-
tisement or any other piece of litera.
ture put out by the pot hunters of
small savings which does not display
with reiterated emphasis. II the insti-
tuition chances to be of a 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 1t Is a 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.
poration or concern ID disposed OF by
the statement that there IL no legal
restriction in the choice of names Of
companies; the organizers are as free
to name their fiimsy creation "The
Rock of Gibraltar Guaranty Security
Company" as the parent IL to saddle 4
weak undersixed male child with the
name of Samson. And, a. rule.
there IL az much license or propriety
In giving the name Of the mighty enc
my Vt the Philistines to stunted boy
a. there II for applying the name
guaranty" or security" to q com
pany which goes out after the savings
Of the small investor" whyf Be
cause the companies which are really
warranted In makine either OF these
words . part Of theii corporate name
do not have to 80 into the hishways
and esSsss and beat the bushes for