The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-09-04
"Foreign Capital Prop
osition Proves Profit
able Enterprise.
--LATEST SCHEMERS
CAUGHT UP WITH
Company Which Was Preparing
to Develop Coal Lands Near
i Richmond Has Marrow
I Escape-Groups Of Finan-
i ciers From Various Sec
tons Report Losses.

New York. September 3.-One OF the
most profitable enterprises in which l..
Z. Thorman, and the Banque De Ant!l-
les. OF Paris. who is said to be Alfred
r. Goslin. are engaged, Is the For
eign Capital proposition out OF which
II is estimated something like $4,000 o
week has been made for year or more.
The stage properties for this undertake
Ing are. in addition TO Thorn an and
the "Banaue" an advertisement in n
New York paper. a Broadway lawyer.
with telephonic communication with
prominent Vail Street men. and firm
OF engineers, with a most elaborate
quite OF Offices in a downtown office
building. So far as could be ascertain
ed to-day some OF the people who re-
company are:
group OF Pennsylvania coal men.
who are seeking to recover $4,000 IN
good cash.
syndicate Of New Jersey brick
manufacturers. who mourn the disap-
pearance of a like sum-
group OF southerners. who wanted
to build railroad from Birmingham,
Ala. TO Nicksbnrg. Miss
a syndicate who wanted to exploit
Indiana coal lands
A syndicate which wanted ,coney for
trolley road near Buffalo. Ny.
company of Boston and Buffalo dis
tillers. who wanted TO organize a COM
mission.
syndicate or Baltimore men, VINO
wanted to build trolley road
The only persons who rejoice over
the experience are a syndicate OF men
who are connected with the standard
Oil and other financial institutions, who
were nearly caught In an effort TO pro-
mote coal land proposition not far
time.
P1nn of schemers.
Briefly the idea Of the scheme is 70
induce syndicates or persons who want
money to develop legitimate industrial
propositions to put up money for en-
cheering reports. lawyers fees, for
incorporation and other things. ana
then when all the money possible .s
obtained from them. to end all negotia-
tons upon one pretext or another. The
money is never returned. but Is divid-
cd pro rata, It is supposed
me case OF Pennsylvania coal men
is typical. and may be used as an IL
lustration The names of the partfes
must be withheld for the present as
they are preparing to trke legal action.
and perhaps VIII apply TO the Bar AS
ISOLATION. against tho action OF the
lawyer in the case. =
THESE men, all of whom are known
favorably in the anthracite coal region
OF PENNSYLVANIA, secured optjens on
about 5000 acres OF hard coal land IN
virginia less than a year ago Their
own engineers convinced them tina I
mere was much coal underlying the
surface, easily mined ana easily taken
70 market by two railroads.
They planned to organize ,sooo
600 company. which they intendsd -
promote among their friends. until the,
saw In New York paper an advor.
usement which was to the effect tn.t
lawyer-capitalist in New yorl civ
was the agent for foreign canifa1ists
and he would invest sl50.ooo IN nny
mining, industrial. manufa curing ~
other reputable American enterprise. ;.
One of the Pennsylvanians wrote a
letter to the "forgein capitalistman., .
ana the following day received tele-
gram signed O. c. Colt, bidding him
come to 200 Broadway. A committea
was appointed to come to New York
ana meet Mr.. Colt, whom they did not
know at the time. but of whose hos
pltality they have since learned.
Olcott Clyde Colt has had a pic
turesque career in New York CITY.
He is son of the late VIM. Colt.
who left large fortune. tits claimed
by young Colt against the denials Of
the persons named that he is close
y relauve OF samuel r. Colt, OF the
firearms manufacturing company.
Committee Meets Colt.
The committee OF Pennsylvania
met Mr. Colt at 29y Broadway, ana ex-
planned their proposition. They we're
told 1t was splendid. To show his
good faith in the matter. Colt also in
troduced them to the very man far
their purpose-no less than the agent
OF his foreign principals.
Shake hands with Mr.. l.. T.. Thor
man. the we'll known broker az Ion.
don and Paris, he said, Mr.. Thorma 4
very affably extended his hand. rhe
visitors did not know then that q. r.
Thorman was known 10 the police as
y Leo Meyers, "criminal swindler ana
Wire tapper," whose picture EraceL
the Rosues Gallery, nor did ttey
know that he was one OF the most
faithful licntenants of Alfred r. Cos
lin. who made frequent visits to the
eSiled hrch-sWindlcr In Paris. Mr..
Thorman said that he represented the
"Banque de Antilles" which was a
highly prosperous private enterpris SO
in Paris. with the wealthiest OF con-
. nections, He had unnumbered millions
for the right kind OF enterprises, for
the French people were so rich they
did not know what TO do with their
money.
"Any time our lawyers and our en-
gineers approve your project" ,he
Pennsylvanians were told, you can
have all the money you want We will
underwrlte an issue Of bonds to any
amount, We have Just UNDERWRITERS
$40, 100000 of the bonds OF the Hudson
BaySand Pacific Railroad, which Spey-
i err & Co, have discounted We have
nothing but money
& The visitors looked up the Hudson
Bay and Pacific Railroad, and found
that It's headquarters were In the very
elaborate Offices OF Ellis Evans engi-
4 neering Arm. and i, A.. Taylor g. Co.,
I 9. 1coatlnuaA On Fourth PaEs.l. 3.