The Black Hills union and western stock review. [volume] (Rapid City, S.D.) 1904-19??, 1910-10-21
M|n|NG FRAUDS
GATHER HARVEST
Over 100000 Pour Into New York
Concerns Every Day.

New York, Oct. 1.-Two hun.
dred thousand dollars a day pour in
to the offices of the fraudulent min
ing stock brokers of New York. One
hundred million dollars is the record
in the last three years.
Thirty millions of this amount
went into the Golfers of one concern
alone. Another hundred million
went to all of them during the three
years preceding tho panic of 1907.
The suckers list Of names of
100000 victims used by all the large
concerns, is their most cherished as
set, resulting from the working I'M
derstanding between them. These
figures are conservative estimates
furnished by Postoffice Inspector
Warren w. Dickinson, in charge of
the New York division. He says:
t'The fake mining schemers are
flourishing today in the financial dis
trict of New York today like weeds
in an unkempt garden. They have
done more harm to legitimate invest
ments than all the appeals for a
sane conservatism have done good.
The marvellous part of their insid-
ious advance is that they use the
same old bunko talk, so shallow it
would seem to any average intellect.
and yet the same victims are found
biting again and again.
Down in Pine street, the heart of
the money section, there is today in
well furnished office, most conser-
vative in appearance, the suckers
directory of the fraud gang. The
man in charge of the office has new
er been suspected of his calling, and
none of his associates believe that it
is anything but legitimate. I am
Informed that the list of names is
and growing daily. AS soon as a
concern puts out more literature
they consult the directory in order
to get quick returns. Whenever a
new victim bites his name is added
to the list. The names are kept in
q fireproof back room and every pre-
caution is taken to guard it against
destruction OF raid.
stSome day soon / hope the peo-
pie whose names are on this list will
know how they are considered by
the men who have taken their mon
ey. The list is arranged after the
fashion of a Dun's or Bradstreet's d.
rectory. One man, who lives in
Brooklyn, who has invested in at
least thirty mining enterprises and
lost money in all of them, who has
given evidence to the postal author
tiles that certain concerns were
frauds, and who will probably bite
again the next time offered, is in the
list of names classified as easiest
The next grade is the very easy, the
next just easy. Then comes the fair
prospects and finally the good If care
fully handled, and so on.
"The various concerns interested
in this list buy and sell names to
their agent in charge of it and this
is what call the mutual understand
ing amounting almost to trust, for
without names these fellows will be
unable to reap such rich rewards.
OF course, they all have their own
lists. but the rich prizes come
through the suckers directory, from
which all names taken must be care
fully restored. The names in the
easiest classification bring the high
est rental in the directory.
New York is undoubtedly the
worlds chief headquarters for these
fraudulent mining promoters. The
greatest white way, the lobster pal
lace and the big hotels and apart
nont houses are crowded with men
who are spending money with Law
fish hand which they have coaxed
from the pocket books Of ignorant
anu credulous investors in all parts
of the United States and Canada. It
seems that all a person has to do is
to have full page in metropolitan
paper advertising bonanza, then
scatter smaller advertisements
through the country periodicals, us
ua1ly reproducing the New York ad-
vertlsement with the heading Of the
paper and the statement, Look what
New York thinks Of our investment,
for the money to begin to pour in.
The suckers directory does the rest
and secures the men with the larger
amounts. There are skyscrappers in
this city where bags of United States
mail are carried in day after day lad
en- with checks and money orders.
and not one penny of 1t gets outside
the pockets of the promoters.