The L'Anse sentinel., 1908-02-01

The cleverness and boldness with
which the up-to-date investment swim
der piles his craft are almost incred-
ible. Wherever you find fraudulent
investment scheme you win find both
Of these elements present in some de-
gree-but the comparative proportion
Of one to the other is generally deter
mined by the element Of time Of opera
tion.
For example, II the projectors of q
scheme are old hands at the game and
have established records of the wrong
sort, then the idea Of quick results is
not only attractive but often impera-
tive. There are many "old offenders"
in the profession of Investment swim
ding who have been convicted and
have s'done time" in jails and peni-
tentiaries but have not yet learned to
prefer straight to crooked finance.
Men OF this character realize that
quick getaway Is q cardinal essen
tial Of success: they must complete
the transaction and get In the harvest
before there is time, for the public to
wake up and do. any investigating.
Consequently. boldhess IL the big ele-
ment In operations Of men Of this
class. And. although they may be i'm
mensely clever, daring rather than
cunning will be the dominant char
acteristic OF their scheme.
The length to which the bolder spir-
its In this class will go almost sur.
passes credibility. Here Ia an example
of the tricks to which they win resort
in order to create the impression Of
having the backing of men or institu-
tions of strength and character:
Through introduction by social
friends the local representative of an
investment scheme was able to open q
checking account. with banking and
trust company In a big city--a COM
pany of 80 high standing that 1t Is
very widely known outside OF financial
circles and among people Of small
means. It's endorsement was worth
ready money" to any enterprise and
the fact was keenly appreciated by the
fiscal agents" Of the Brite & Fair
Bonanza company.
After the opening of his personal
checking account, the fiscal agent lost
no time In cultivating the acquaint-
ance of the trust officer of the bank
ing institution, which did very large
business in the discharge Of trusts.
One day the depositor came to this Of
ficer and explained that he had a very
simple little trust which he wished to
have. executed Finding A. necessary
to leave the city for a few days he
wished to provide for the delivery Of
. sealed package. containing valuable
papers," to man whose name and
personal description was given. The
person 10 call for the package would
:eave certiHed check, in''the amount
of $1,000. which was to be placed to
the credit Of the FISCAL agent" Of the
Brite b FAIR Bonanza company, whose
business connections were unknown
to the trust ofYicers of the banking
and trust company.
Weeks later the trust officer was as-
tonished to receive from an old per-
sonal friend. who was knocking about
In the west, circular of the Brite q
Fair Bonanza company, In which the
big trust company was designated AZ
trustee for the "B. q f." stocks.
As the friend who forwarded the cir
cular knew something Of the wildcat
nature of the Brite q Fair enterprise.
his commentsi on the folly Of the
banks accepting such . trust had
IN edge on them. When the matter
Wa Investigated ,it was found that
the whole plot had been carefully con-
coctsd and worked up to; that the cir
cularB had been printed and put IN a.
rected envelopes reody fDf mailing N
advances Of tho placing q H. so-oaIIod
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