The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-06-12

able without cost and no end Of con-
venient places where boxes could be
lowered In u JernsgAn's invention seemed
70 be much better than those which the
AlchsmiSta had been trying 70 work out
Not long after the arst tIdinRa came
nom Maine Jernegan invited sons capital
lsts Of MiddletOwn. Conn. where he had
been a preacher. 70 come up and Sc
him get gold out Of the ocean. They met
him at Providence and spent one whole
night at the end Of a pber. from which
Jsrnegan had lowered hia wonderful
box. Sure enough. when they hauled
u up in the morning there was gold. real
Rold. tmpregnated IN the mercury which
the boz had contained. Il had been
eStraeted from the sea BY the action Of an
ebectric current and certain chemicals,
I0meGan explained. While the Middle-
town capitalists waited IN a reception
room an aasayeP made an examination
Of this gold. He reported Il worth about
$40. That didn't Heem much. but Jerne-
gnn had used only a small box and a very
small electric battery. All that was
necessary, said JerneRan. was % build
big batteries and big boxes
Like nest Of the other men who have
claimed 20 discover the way 10 turn things
into gold or silver Jernegan proposed TO
make himself Midas Il was necessary
20 organize a company and the Electro
lytic Marine Salts Company quickly
appeared. A. a set rich quick scheme
u seemed 20 have untold possibilities.
There were iO.OCO.OOO shares Of stock
At u apiece and a good many people
rushed 10 buy H. The wonderful part
Of u all was the character Of some Of the
buyers. They were men Of standing
in th-ir communities, hard headed busi-
ness men many Of them. EK-Ma yor
Iitcomb Of Boston was one. Boston
tinancierB got Interested and ~ did some
OF the financial community here. though
there was much scepticism.
Subscriptions. however. poured in upon
JerneRan The company was organized
with prominent directors and work be-
gun on a big plant At Lubec. Me. Up
ward Of 500. 900 was quickly turned over |
20 the discoveries by the credulous, and I
then while they were watching for the I
SEA 70 give up its gold In commercial l
JerneRan disappeared. He had 1
Aailed for Europe. His assistant. e. Y I
Fisher, the only other person in posses
sion OF his secret. was alsO missing
Il was 90 simple that II made the in
vestors in the ElectrOlytic Marine salts
Company look sheepish for years after
the secret came out A good diver was
about all that Jernegan had needed. and
FISHER was the diver In the experiment
at PrOvidence Fisher donned his diving
suit and stationed himself on a little /
rocky island not far from the wharf from
which the box was lowered by the CAPT
,aligts. Previous 20 this a guiding cable
had been lowered connecting the wharf
with the island After the box had been /
lowered and while the capitalists sat In
he dark on the pier dreaming OF the
wealth in store for them the diver simply
ielt his way along the cable and after
reachinE the box substituted some gold
mercury for the pure mer-
sury that had been IN the box. Ne had
llsO slipped in q gold nugget that Jerne-
gan had been wearing a. watch charm
% give the capitalists above good measure
The stockholders found that Jernegan
aad not taken all Of the money that had
leen collected. but he got about $4,000
Mass had Clipped in
more than 90. 900 20 this melting pot
Providence people bad put in 10000.
lernsRan had been a Baptist clergyman
n Middletown, Conn, and his reapings
here were large.
IL was in isas that this alleged dis
,overer OF the way 20 fabulous wealth
liaappeared amid hoWls from his dupes
h turned up later in Vienna. and 70 the
81 everybody returned
rs .OO0 20 his victims.
There had been attempts 20 get gold
rom aea water before. and from time to
ime reports have come about others a.
york on such a scheme. hut nobody has
Iver had the success that Jeynsgan had.
The belief n still persisted In by q good
many people that some Of the alchemists
4 old did actually sucoeed in solving the
lroblem q the transmutatiOn Of metals.
n Paris few years a&o they formed q
Ocisty % examine books supposed 70
ave been eft BY the old alchemists.
Az showing hOW some Of the most brill
ant men In chemistry have been fooled, I
u related that Sir William Ramsay, 1
be great English chemist. few years ,
20 thought he had made copper out II ,
thium This was tranamutaliOn, al
hough Il didn't apply 10 gold. and the
caused a stir: but the I
Teat chemist shortly afteTward declared /
hat he had BEEN mistaken,
Ten years ago q man living on Staten
Stand said that he could turn silver into
old BY iarring Il with an enormous cleo
rio hammer Il turned out that he had (
sed some Mexican silver dollars IN his =
EpSYimants and those contained q little
Old. In spite Of the frauds and the
liluraa Il u likely that there will always
Q some people following tho quest Of {
10 ages. hopeful Of an easy way to get
old