The Fayette falcon. (Somerville, Tenn.) 190?-current, 1920-09-24

versity and of the Newton Theological
seminary. After a few years in the
ministry his health broke down and he
went south to recover. 1t was on the
way back that "the heavenly vision"
came to P. #. Jernegan. and the
"Electrolytic Marine Salts company"
took shape in his brain.
The heavenly VISION" according TO
the claim of Jernegan, showed him a
marvellous way of getting something
for nothing"-of getting gold from the
water In the ocean by secret process.
He formed a company, He opened
Offices In this city at 50 State street
and 235 Washington street The ma.
rine Salts company" became a slogan
OF amazement and wonder. Mr.. Jerne-
gan showed to the doubling Thomases
he met several thin metal plates upon
which there had been crystalllzed
small deposits of gold.
He suggested the wonderful secret
in his possession and spoke vaguely
OF the fabulous fortune that awaited
him. Financiers, men and women of
wealth, poor and prosperous-folks
thronged his Offices to buy shares Of
his stock.
There was, he affirmed, about four
cents worth OF gold In every ton OF
sea water. Now, Just think Of 1t,
four cents worth IN every toni And
the Atlantic. Pacific, Indian, Arctic
all the oceans in the world were to pay
tribute to his scheme, to make their
deposits of gold in the pockets of his
shareholders.
Mr.. Jernegan estimated the possible
returns at 72,O00,00O0O0 tons of gold.
Boston went into frenzy. All New
England went into another frenzy. Mr..
Jernegan went to New York, where he
deposited $6S0O0 with one Of the larg-
est savings banks there. Soon after
he made another large deposit. The
deposits were checks. A few days af-
ter this he drew out $4,000 and then
$4,000 In bills. Then the bank told
him that they didn't want his account.
He told New Workers. that he In
tended to issue 100000 shares Of
stock at 81 a share. Meanwhile, his
friend, one frank w. Thompson"
took the money withdrawn from the
New York bank and between them the
pair bought $4,000 worth Of govern
ment bonds.
Machinery Never Came. :.
Meanwhile, at North Lubec, Me-. the
Marine Salts company began opera
tons. A dam was raised, and when
the tide. receded II left water twenty
feet deep behind the dam. This was
to be flowed over the "secret" ma
chine invented by Mr.. Jernegan. and
by secret" process the metal plates
called accumulators. were TO gather the
gold from the sea.
More than 600 workmen were hired
and the buildings were begun. By this
time 100000 shares Of the stock had
been sold and the capital was In the
hands Of the ex-clergyman who had
had the "vision."
To work the plant at It's proper caI
pacity, machinery, Of course. was necI
essary. Mr.. Jernegan and his partner
boarded a French liner for LeHavre.
France, to get the machinery. Mr.
Jernegan took passage as Louis Sim
clair Of Chicago" with sthe necessary
funds"-that Is, all Of them.
The day after his departure gold
ceased to crystalline on the plates Of
that marvellous secret" machine up in
Lubec, Ne. The company suspended
business and the 600 workmen on the
new buildings were out Of Job.
The shareholders In "Electrolytie
Marine Salts company" were without
their money, too. The gold crystals
on the plates had been planted"
In spite OF efforts TO bring about sx-
tradition, Jernegan and his pal -
caped In France. They later sent ssne
Of their money back to clear up 0e
activities Of the company. but they I'D
not move back to Boston.
So the story runs. year after yar.
The Luck Box" Is an affair Of cog
yesterday. To make ones fortts
without an effort, to hope desperately
for good luck" In taking a chance
10 find a silver mine or become heif 10
a kingdom, to dig for Kidd's treasure
or to buy a machine which win ttis
out crisp new bank notes in lea
manner; above all. to avoid as musa
work as possible In the whole affats
has been a human trait ever sine
Adam Jared forth from Eden. wheis
he was not bothered with SUE
dreamk