The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-01-01
?. 0. Inspectors
FIND /" SUCKERS
PLENTY AS EVER
Amazed at Credulity of Ordi-
narily Clever People Who
Fall" For Fake.
MANY BUY BOGUS STOCK
APPARENTLY TRADED IN
Seems To Be Steadily Advanc-
ing, But Slumps If Victim
Takes Steps to Sell Smart
Virginian Is "Stung.''

Washington, Dec. 31.--The records
Of the Postoffice Department. and
more especially the head of the post
| ONCE inspectors. show that a large
part of the American people still love
to be humbugged The inspectors
marvel at the credulity of some citi-
zens who give up their hard earned
savings in one wild grab for riches
only on rare occasion are banks, even
the smaller ones. caught in the crush
which follows the exposure OF a frau
duieHt eeHeern.---------------
Some of the schemes are extremely
clever. while others are crude, but
somebody always falls" for them
clever schemes frequently attracting
intelligent persons whose credulity is
amazing.
A Shocked yirginian.
Not long ago a bunch of postal
crooks were on trial In Kansas City,
charged with operating fake mining
companies, They had ten or twelve
different companies going at one time
One of the witnesses was a Virginia
farmer who thought he was pretty
smart
Yes" he said 10 an inspector, this
| company is a fake all right adj
NIT L was stung on it's stock. but I've
got right here certificates of stock in
several other companies that I known
are all right Their stock is increas.
Ing in value right along
The credulous Virginian was asked
10 display his wares. He did so. He
was Mortified when informed that the
men on trial We're promoting all of
the companies In which he was
stakeholder, that all were fakes and
existed on paper only.
"a p-{4 49,
stock concerns is to start the sale of
their stock at 10 cents a share. After
a time, when the suckers begin to
bite well, the price ts boosted TO Is
cents. This convinces them that there
Is something In the company, and
they buy more. The stock keeps ris-
ing 10 perhaps 80 cents. when an an
nouncement is forthcoming to the eff
feet that the company has secured all
the money 1t requires for capitaliza-
ton
Shortly afterward funds are re-
CURED for promotion" and another
scheme is started on its way. Not in
frequently the promoter" OF one fake
concerns viii advice persons who are
seeking to purchase more stock that
the lists have closed, but that he has
been able to purchase block of an
other stock which some concern was
cheap This usually brings in the
long green"
An Active" Stock.
One scheme OF the Kansas City
bunch was 70 send out In advance
letters soliciting sHares of certain
stock at 20 cents each. Persons re-
ceiving such letters had nibbled be-
fore of course. After a short time
another letter would come along. os-
tensibly from an entirely different
concern. Offering 40 sell this same
stock for. say 10 cents Having a
week or so before received an offer
of 90 cents for this identical stock
persons receiving the second letter
sent I'm their subscriptions. receiving
in return a bunch OF worthless certi-
fcates. After the receipt of the fake
certificates they would get into COM
munication with the concern or indi-
vidual offering to pay 20 cents per
share for 1t, only 10 learn that all the
stock desired had been secured from
other persons meanwhile
Even after a round of letters OF this
character had been received some of
the deceived individuals have been so
creduious that they have fallen for
the very next scheme that has come
along, which, more than likely. was
promoted By the identical men who
had robbed them of their savings in
the first second and third instances.
I The only explanation which postal
experts can advance for the degree
OF credulit1' shown by persons who
get into the tolls of mail takers and
frauds is that most of them probably
have worked hard all their lives and.
seeing what appears TO them to he a
rainbow of promise pointing To ease
and plenty for old age, take one
grand leap after another--the num-
her depending on how hard they are
| hit each time and how much money
they have.
! Imaginary Crooks
| The inspectors occasionally find an
! individual who imagines that he has
| committed n string of robberies in
postoffices and can give every detail.
! A man robbed IA postoffice in Kan
! sas. He told a tale OF one robbery
! after another until he had named
about every office in the state Most
/ of the offices had not been robbed.
! This man had made a practice of
| re- ading every detail OF every robbery
I that came to his attention, finally be-
1 coming demented on that particular
! line. Finally he tried a job himself
{ and got caught, and Immediately he
| imagined that he had been following
! the burglary trade all his life.
| Another man got into trouble over a
1 fake scheme and attempted TO kill the
/ inspector who went TO his farm to ar
| rest him. But the inspector happened
! to be armed too. Another inspector
was within call and came to the as
| sjstanee of his colleague The man