Saturday news. (Watertown, S.D.) 19??-19??, 1914-06-18
Great Lottery Fake
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horticulturist.
Earl P. Walton, assistant field man
ager and horticulturist. +
Howard Walton, machinist and cleo
~trician.
Fl. L. Sutterfield, surveyor.
The scheme of the company is one
of the largest lotteries pulled off" in
several years. Each investor puts up
SIS. There are to be 100000 Of them.
Drawings will not be made until that
number has been obtained.
Briefly explained, the scheme of the
company Is as follows:
The company claims to have 10000
acres in Reynolds County, Missouri,
in the heart of the Ozark Mountains.
which it acquired from the Missouri
Southern Railroad, a small branch
road whose line runs near the tract.
Adjoining the 76,000-acre tract is an
other of 5000 acres, which the COM
pany claims to own.
For 5000 Farms.
The scheme embodies the splitting
up Of the 76,000-acre tract as follows:
5000 ten-acre farms.
1920 t~Wenty-acre farms.
100 f%orty-acre farms.
Fifty eighty-acre farms.
Fifty 160-acre farms.
The 5000 acre tract is to be con-
verted into an orchard, of which $500
acres is to be planted in apple trees.
300 acres In peach trees and 200 acres
lin grapes.
J IN order to register for the land
leach investor must advance SIS.
When the money is put up he is sent
a receipt calling for 100 shares, when
issued, of a value of Is cents a share
in the "orchard company This lat
ter adjunct to the scheme has not
been organized and cannot issue stock
1t is planned that 100000 "registra-
tons are to be received before the
land allotment" No date has been
fixed for the allotment" and as far
as the company's promises go it can
be held as we'll 100 years from now
as at the present time.
On the day the allotment" of land
is to be made each donator Of SIS is
expected to be present either in per
son or by proxy. A committee will
be selected from the holders of the
receipts for stock-the promoters
say they will have nothing to do with
this part of the scheme--Which will
allot the land, Each farm will be
put on the block for autcion by The
COMMITTEE" Any bids owe SIS for
any of the tracts will go to the orch
ard company, the promoters share of
the lottery ending with the SIS pay
ment. In order to become a bidder
the person must surrender his receipt
for orchard stock.
The company asserts that immedi-
ataiy after the allotment. of the
farms, the orchard company will be
organized. Those who fail to obtain
farms will be given 100 shares Of
stock of a value of is cents q share.
They will participate only in the
profits Of the orchard. So far the
Orchard has not been planted. in
spite Of aliuring pictures in the com
pany's prospectus showing luxurious
trees overwhelmed with fruit, great
clusters Of grapes and waving fields
OF alfalfa,
In order to show the w~orthlessness
OF the orchard proposal from the
standpoint Of a @stdckloider,s one
has but 10 resort tai the simplest
arithmetic. Here Is the problem.
The number Of victims to be lured
into the lottery totals 200. o00.
Five thousand i 70 obtain farms
This leaves 10000 who viii obtain
only agtoaE q
The orchard, which Will be the
assets behind the steck, II cornposed
hi 5000 acres. s
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