The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1915-01-29
A VICTIM SOUNDS A
WORD OF WARNING
He Thinks It Is Time That the Farm
ers Of Bear Lake Were Refusing
to Bite at Every Proposition That
Comes Along.

to Bite at Every Proposition That
Comes Along.
Editor Examiner-As there have
been so many people in this locality
''stung'' by grafters lately, it seems
to me that it is about time to sound
a word of warning against these
grafters through the columns of your
paper. would suggest that when a
gentleman, or a person representing
himself to be a gentleman, APP
proaches you with a proposition
whereby you can get something for
nothing, you had better look. "a lee
die out" At any rate, look at the
proposition in this light: II this
would-be gentleman has a gold mine
and plenty of capital to operate it,
but wants you to take some stock
just to get in on he ground floor, or
wants your name just for the pres
tige it will give, you can depend up
on it, his proposition is not a sound
one.
Only recently have several Bear
Lake farmers been "stung" by these
smooth tongu"d individuals, who
were selling stock in fake concerns.
| refer to the Farmers & Growers
association, and the Peoples Milling
& Elevator company. The represen-
tative of the first named enterprise
went about the county in an auto
and succeeded in getting a number of
farmers to "bite" at his. game. This
man, we understand, took several
thousand dollars out of the valley,
and he has individually appropriated
all the money, while the victims are
kicking themselves for being so easy.
Then came the oily-tongued agents,
representing a would-be flour mill
and elevator company. They pro-
posed to erect a mill and elevator
and asked the farmers to put up
$40,O and they the promoters,
would do the balance. Well, l don't
blame them, as $4,000 would be
enought to build such a mill and ele-
vator as they proposed. We under
stand their plan was to organize a
100000 company-the farmers to
pu up $4,000 and the promoters
100000. You see had their scheme
worked it would not have been nee
essary for them to have put up a
cent-they would have just issued
themselves the stock SO they could
vote their shares. The promoters,
of course, would have managed the
business and have, hid the spoils, or
profits. That is, if the business had
proved to be a success. If it failed
the poor farmers who held stock
could go to the bank and pay his note
for the borrowed money which he
put in the mill, even if it did take
his farm. Still the promoters said
it was a good proposition.
Then there was the guy who sold
stock in an insurance company, and
we understand that even some of the
business men of Montpelier fell for
this "get-rich-quick" proposition.
He said the stock would be worth
$50 or 200 cents on the dollar as
500 as the company was organized.
Well, the suckers" waited weeks
and months for their stock certifi-
cate. and when they did get it they
would gladly tave taken SO cents on
the dollar for it.
And it has only been a few years
ago that a lot of people in this
ty invested in Mexican Rubber stock. !
Banana stock, Elco Coal stock, Car
bon County Oil Lands stock and
numerous other wild cat companies.
1t is a safe bet that a mar could buy
all the outstanding stock in all of
these companies for $40.
These victims have doubtless all
said to themselves, 1T has taught
me a good lesson, but I will not get
stung again" But / am not so sure
about that, as the next CRATER will
have a different proposition and we
will forget about the other blk.
We understand that warrants
have been issued for the arrest of
both the mill promoter and the agent
or the Farmers & Growers asso-
There are several people in
he county who have checks issued
~ the mill promoter, which they do
lot consider very valuable property,
Ind he has at least one mans money
or stock, the certificate for which
will never be forth coming.
From now on let us be wise and
when a stranger comes around and
ellis us that he can make our money
earn more than we can, let's take a
-I