Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-01-14
STOCK GRAFTERs
FLOCK TO n. Y.


NEW YORk. Jan. l3.-s,ock
promoters and swindicrs who have
been driven from as states where
"ilue skv" laws exist. are flourish
Inc In New York as never before.
according 10 Edwin y. Kilroe. Assis-
iani District Attorney IN charge 81
the Investigation ~ commercial
frauds.
Mr.. kilroc charge sihai most Of
the operators are composed OF
confidence men. ex-convlcts. race
track iouis gamblers and men of
the bascr sort" who. as soon as their
crCaked work IN made public, move
10 another part OF the metropolis
and resume business under another
name
III II remarkable" says he. that
In this state. which II the financial
centrr NJ the world. the investing
public should he icf, without pro-
lection and tina, the Dark Asc law
of caVcat emp,or should reign here. :"
Attacking the majority report Of
Governor Smiths Blue Sky Law
Commission as n prayer 10 allow
the predatory Wall street interests
To continue their pillage without lei
or hindrancc." Mr. Kilroe. In re-
port IN District Attorney Swami. op.
noses the recommendation To turn
The prosecution of crooked Wall
street concerns over To four depu.
ties ana the Attorney General Of
the state.
The recommendation" he says.
that nothing be- done by the pres.
en-, legislature except the appoint
ment NJ n commission "a rcdraft ne
penal law Is incxpedient and would
accomplish no GOOD result All OF
the facts commission 50 appoint-
cd could possibly obtain are now In
the possession of the District A,tor-
Aoy of New York ne the result OF
some 1000 or 1000 complaints In
,c'lirated In his office"
The methods employed by stock
swiudlers 10 fleece the unWafy arc
explained nv Mr. kilroc. In the
did days" h. said. sucker lists
were prepared and used by these
unscrunulous promoters On these
lists were the names OF those known
To be- susceptible To the illnsionary
offers made by statesmen Of worth
iess securities. This lists las now
lren cast aside aud today every
good citizen who happens 10 he In
experienced IN the world Of financ,
T. q possible victim. provided he has
q small hank account or government
bords.
schools are established 10 make
he smooih.tonsued salesman more
smooth and hooks Of instruction
ave prepared so that no one even
with snail savings shall escape their
| mrc. This office h flooded with
'omplamts ~ the shOrcn and pluckrd
. who daily stream from Wall street
10 the Criminal Courts building.
! The victims. In many eases. have
los, their lie savings. the widows
mite, the Liberty Bond bought IN a
spirit NJ patriotism by weekly de-
auction from ihe toiler's wage. The
savings hank book and the card of
war savings stamps alike have found
lodrmeni IN the swindlcr's net.
The lure Of speculation has. OF
course. produced corresponding
volrmc Of attendant crime. corrup-
ton aud dishonesty The incrcass
IN the number and amount OF Liberty
nond ,hous during the past seven
" clrht months = n matter OF great
'onrotn IN The financial district and
?" ~" administration Of the criminal
law"
Mr.. Kilroc advocates as q remedy
! Tor existing conditions; IN the gov
eminent licensing aud control 81
stock exchanges; t2l similar lleens-
inc for stock. bond aud other In