Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1916-01-28
FIND MANY SUCKERS
Post Once inspectors Amazed at
Cfedulity Of People.
Ordinarily Clever Persons Fall for Az
Sorts Of Fake Schemes--Stock
Swindie FAvorite Bait
for the Guiiibie.

WasAington.-The records Of the
post ONCE department. and more espe
e'siiy OF the head of the post Office in
speetors. show that large part of the
American people still love to be hum
plugged The inspectors marvel at the
ereduiHy of some citizens who give
UP their hard-earned savings in one
wild grab for riches. Only on rare oc
easions are banks, even the smalle,
ones, caught in the crush which fol
tows the exposure of a fraudulent con
Germ.
Sone OF the schemes are extremely
clever. while others are crude, blu,
somebody always falls for them
clever schemes frequently attracting
intelligent persons whose credulity il
amazing.
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 to an inspector, this
company is fake all right. / admit
l was stung on its stock, but I've got
right here certificates of stock in sew.
eral other companies that know are
all right. Their stock is increasing in
value right along"
The credulous Virginian was asked
to display his wares. He did 80. He
was Mortified when informed that the
men on trial were promoting all OF
the companies in which he was q
stakeholder, that all were fakes and
existed on paper only.
A favorite scheme with the fake
stock concerns is to start the sale Of
their stock at ten cents share. After
a time, when the suckers" begin to
bite well, the price is boosted to Is
cents. This cOnvinces them that there
Is something in the company. and
they buy more. The stock keeps ris.
ing to perhaps 80 cents when an an.
nOuncement Is forthcoming to the ef
feet that the company has secured
all the money 1t requires for capital
izatiOn.
Shortly afterward funds are re-
quired for promotion" and another
scheme is started on it's way. Not in.
frequently the promoter" of one fake
concern will advise persons who are
seeking to purchase more stock that
theflists have closed, but that he has
been able to purchase a block Of an.
other stock which some concern was
forced to let go OF and can sell It very
cheap. This usually brings in the
"long green" !,
One scheme Of the Kansas City
bunch was to 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 4 short time
another letter would come along, %.
tensibly from an entirely different
concern, Offering to sell this same
stock for, say, ten cents. Having .
week or so before received an offer
Of 20 cents for this identical stock.
persons receiving the second letter
sent in their subscriptions. receiving
in return bunch of worthless certifi.
Gates. 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 it, only to learn that all the
stock desired had been secured from
other persons meanwhile
The only explanation which postal
experts can advance for the degree
of credulity. 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 be a
rainbow of promise pointing to ease
and plenty for old age, take one grand
leap after another-the number de.
pending on how hard they are hit each
time and how much money they have.