Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1910-12-03
STOCK SWINDLE
OF $5O,OOO,OOO
Federal Authorities Raid Offices
and Arrest Firm
HUGE FRAUDS ALLEGED

Nf'-~t---.~ aaa'''e'e IIi e'.aFto OF Com.
Panies That Have Faued-BI7 Oivt
bends Were Promised, But None
Paid.
Federal officials ra.ded the office
occupied by BURR Brothers. in N.v
York. "a corporation dealing Boo stocks
and other securities.
The raid was made ora Wa-.an. e
charging the use OF the mails tl de-
frauI investors.
Postomcc officials sav that the com
Germ has sold to investors 3D.. pan value
between SfN.Uu..Nu. and S1Nu.t...a of
stock in various companies. MOST of
which have some out of e1istou.. or
become bankrupt and nome boo sim.
gie instance paying tle dividends held
out ia Che promises oI tle concern.
The raid was planned bv Warren W.
Dickson. postomoe Inspector. in charge
OF Che New York district and POST
master General Frank Hitchcock and
Robert a. sharpe. chief pos.aMcc Iu
spcctor
The officers arrested were. sheldon
&. Burr president. D.. Harry T0acv.
sec c.ary and treasurer
The three officials of the company
arrested were arrairneI belor. Com.
missioner Shields and held Boo $4,000.
bail each. Pending the furnishing of
bail they were sent Goo Jail.
Hundreds of complaints have been
made against the corporation by iu.
Vestors. who charge that they have
been swindled through false repre- eu.
tauons made TO them cuuCemiuE the
profits that were being realized by
those who put their money into the
various OIL. timber. copper. lead. zinc
and gold companies
After the raid Postmaster General
Hitchcock gave ont an official memo
rRndum concerning Burr Brothers
The firm was organized several years
ago and in 1907 was Incorporated with
capital of 100000 and later increas-
ed 10 100000. The memorandum SAYS
that among other companies the Burr
Brothers are selling the stock of the
Buick oil company. a concern with
S5,00O.0O0 capital
The memorandum further states as
follows.
They have also organized tho fol
lowing oil companies Carolina Con
solidated. capitalized al $1,000 600.
Coalinga Alladin. capitalized az 81 .OOO.-
600: Kern-Western, capitalized az
$4,000. New York Coalinga. capital
lied at 100000. Coalinga Crude oil.
capitalized ar $500 600: Peoplcs Assoc
ciated Oil company, capitalized at 81
600. 600
'All the stock in these companies
has been sold except a part Of the two
first named. While all the companies
are still in existence, none save the
FIRST four named is doing any work at
the present time
The Burr Brothers have also organ
lied. promoted and sold the stock in
the following mining companies. Raw
hide Tarantula with a capital Of 81
100000; Montezuma Mining and
Smelling, with a capital OF $1,000. 900;
Golden Fleece Mining. Milling and Re
inning company with a capital OF $500.
OOO
Practically the entire stock in the
companies has been sold TO the public
and at the present time all these com
panies have gone out OF existence.
They have also sold large amounts
OF stock in the Red Top Mining and
Leasing company. capitalized at ST.
100000; Long Beach, Mexico. and Ari. |
iona Mining company. capitalized at !
@l,5oO.OO0; Nevada Goldfeld Mining
and Smelling company capitalized at
S6.OOO.OOO; United Standard Lead and
Zinc, capitalized at 81 900 900; Flor.
enee Consolidated Mining and Leasing
company, capitalized at $1,000 600
Round Mountain Central Mining. CAM.
talized at $1,000 900: Cobalt PORTAGE
Mine company. capitalized at 81 600. |
900; Briush-American Copper Mines 1
snd Smelter company. capitalized at
S5,OOO.OO0; Arizona Copper Mines com.
pany. capitalized al 81 500 900; Search.
Hight Gamma Gold Mining company.
capitalized at $1,000 900; Holcomb An.
tomato Engine company. capitalized
at $4,000, 600; Cottonwood Copper com.
pany, capitalized at $l.O00.OO
"All Of these companies are at the
present time out OF existence.
They also sold the stock of the
Iitak company. a sI,cOo.0oO corpora