The Leavenworth echo. [volume] (Leavenworth, Wash.) 1904-current, 1917-11-09
Selling Stock in Department Store.

OCituiS Otuth w OVPet uHN"t oSv'S'
Under the above heading the Echo
last week called the attention OF its
readers to a man who had been here
for two OF three weeks, and who
engaged in selling stock in depart
ment store proposed to be started at
Seattle. Because We were told by a
man who had been asked to take
stock, had investigated the scheme
and concluded it was impractical and
would end like hundreds Of other big
schemes, in bankruptcy and loss to the
stockholders, we decided it was duty
we owed the readers Of this paper to urge
them not to invest. We recalled the
fate Of the farmers who few years ago
invested hard earned money in the
Northwestern Trading Co. This was
a scheme to furnish the farmers with
goods. wares and merchandise at cost.
Thousands Of hard earned dollars OF
the farmers went into the scheme.
The stock was peddled from the Sound
10 the Idaho border, and from Okanogan
county to Walla Walla. The scheme
utterly failed and resulted total loss
to the stockholders and right now three
of the managers Of the Northwestern
are behind the bars at Walla Walla for
that swindling proposition. We know
Of three railroad engineers who each
invested $500 in stock selling scheme,
being induced to invest their hard
earned money by smooth tongued
stock selling agent who pictured the
scheme as a big money maker.
Working men who have their mind on
their work, make no study OF the
thousands Of schemes to get possession
of their funds and very often fall
easy victims to the sauve and plausible
arguments of those who make such
things their sole occupation and study.
For their 80, 400 these three railroad
men have today green bordered stock
certificates. Nothing else. In the past
fifteen years the people Of this town,
principally working men. have given
to stock selling schemers fully $780,
900. and Of the hundreds OF schemes
of every imaginable kind, from de-
partment stores, to mines, steel plants,
money changers, cash registers, and
many other get-rich-quick concerns,
not one, no, NOT ONE, has ever paid
one cent. Not only not paid a cent
on the investment but the stock
certificate is not worth as much as a
piece Of blank paper o: the same size.
This record is known OF all men. 1t
was with this record in mind that we
wrote the story last week, headed,
Selling Stock in Department store. "
Because we sincerely believed we were
doing the public deserved service.
We did not know-never heard OF or
saw the man who offered department
store stock for sale here. We only
knew he was peddling stock in some
concern that he represented would
earn the stockholders dividends, just
as the peddlers OF Northwestern Trad
ing Co. stock represented to those
they asked to buy stock that it would
save them money on their purchases
and earn dividends for the stockholders,
just as every peddler OF stock that ever
came to Leavenworth represented. and
We believed then, and believe now.
that it will end like every other stock
selling scheme, in disaster for the
stockholders, Those that manage the
concern and draw salaries for their
work, or get paid for peddling the
stock, may make something out OF it.
The owner Of small block of stock.
nothing. What reason is there for be-
lieving this one will vary from the
hundreds Of others that sold stock
here, not one OF which paid penny,
but failed utterly