Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-08-20
DRAINING STATE OF MANY MIL
LIONS THRU WILDCAT PRO-
MOTION SCHEMES.
FARMERS APPEAR TO BE
MOST NUMEROUS VICTIMS
Men Who Parted With Lands at Fancy
Prices Willing to Invest in Unstable
Out Of Page County and Community
Club Takes Steps to Check orafters.

Shenandoah, Aug. Incorporation
stock statesmen are believed to have
taken $4,000 out of Page county this
year and the sum is likely to reach
100000. The farmers are prosperous
as never before and many Of them are
parting with their lands at the present
attractive offers, and it looks like their
money was easy picking for the crafty
riding up and down the highways of
southwestern Iowa disposing of their
guilt edged" stocks. 1t is one of the
causes of the high cost of living. Pro-
motion stocks are in some instances
selling for more than the best listed
stocks. The fact of taking this money
away from the country section is de-
clared by the community club Of
Shenandoah to be a menace to the best
interests OF the community. 1t is go
ing to cause eventually a distrust and
suspicion for all investments, to say
nothing Of taking away an enormous
working capital for the country where
it is or soon will be needed in the
financing of their own business trans
actions. 1t is going to retard the
growth of the country and turn il over
to the city spectators. and If the
future is anything like the past. nine
tenths will be lost. 1t was discussed
at the weekly Monday luncheon and
many participated in the discussion
and rehearsed instances where their
neighbors had been mulcted out Of
large sums of money.
Bigger the Promises; Easier the Sales.
1t developed that a stock sells better
at 125 than it does at par; that a
customer buys more and easier with a
note than for cash: that if he buys he
tries to conceal il from his banker;
that he rarely brags about his pur-
chase when he has il, and often is in
clined not to admit it; that the same
stock is some times sold at different
prices to different people in the same
drive: that much stock is given away
to bell weathers;" that notes taken
for stock are generally sold beforeNthe
salesman leaves the community: that
unenforceable options are often given
as bait to the unwary; that the sales
man never wants his customer to dis
cuss the matter with his banker or
lawyer or confidential advisor; that
every time $1,000 is taken from COM
munity to the city, from which a diyi-
dend or return seldom comes, that 1t
has retarded the growth and develop
ment of the county Just that much;
that indirectly It Is one of the many
causes of the present high cost OF
living. and should be stopped, to the
extent that the city corporation should
finance its own propositions, and that
no person should be encouraged to
buy this stock ont Of his line Of knowl-
edge without having 1t investigated
and his business advisors consulted.
and that the searchlight Of publicity
should be thrown upon these trans
actions of get rich quick concerns
away from home, and see how many
will stand the test. 1!
It Is thought that some Of the deals
recently made in Page and Fremont
counties. II later shown in will con-
test, would set aside a will. or sup
port guardianship proceedings. If not
stopped Page and Fremont counties
will have been drained Of more than a
half million good hard earned dollars.
Anyhow It seemed to be the unanimous
opinion OF everyone present that some
drastic measures should be taken by
commercial clubs in every city and
town, and committee OF three from
the Shenandoah club was appointed to
handle the matter or make recon-
men dations. W. II. Replogle is chair
man. with r. Fl. Ralston and G. N.
Marvin, all appointed by the president,
Mr.. Ed r. Rose. -.
Much interest Is manifested in what
the outcome will be Of their efforts.
Possibly the attorney generals office
will be called upon.