The Prince George's enquirer and southern Maryland advertiser. (Upper Marlborough, Md.) 1882-1925, 1922-03-03
Worthless Certificates Are
Eagerly Grabbed Up by
Innocent Dupes.
OIL STOCKS STILL SELLING
Modern Inventions Help Crooked Sales
men Unload Stock on unsuspecting
Buyers-"WiIdeat" Brokers
Make Fortunes.

New York.-In years gone by, the
gold brick artists and oil stock sales
men were so successful that T. L.
Barnum once remarked that sucker
is born every minute" Today, with
modern inventions and a public just as
eager to be "stung," the "shafpers
find the birth rate even higher, anG
their profits are SO much the greater.
IT has been estimated that in the
last year more than $500, 100000 has
been thrown away by the people OF
the United States on wildcat schemes
that range from oil stock to making
metal from horses hoofs and extract
ing gold from sea water. According to
statistics, there are more suckers IN
the country today than Mr.. Barnum
imagined.
During the Last year, hundreds OF
stock brokers have been arrested in va
rious cities for selling wildcat stocks.
In many cases, however, the brokers
were tipped off that they were being
watched and, like the Arabs, they
folded their tents and silently stole
of ministers, department store clerks,
stenographers, telephone operators,
housewives, and staid business men.
There are at the present time, it
is estimated, approximately lOO0
'sbucket shops" in the United States.
II these 1000 shops are to remain
open. they must have $1OO day each,
which. in a year of 300 days, means
an income of S3O,OOO,OOO annually for
office expense alone. This is to meet
the expense of wire and ticket services
and blackboard boys, with the gullible
paying the cost.
A Favorite Trick.
A fayOrite trick of the bogus stock
statesmen is to secure from the tele-
phone list or directory the names Of
physicians, ministers, and school
teachers. The salesman makes call
and, by his persuasive voice, is usually
able to sell at least ten shares OF a
certain stock for 81 share. A few
days later another agent calls and
offers So Il share for the stock, but
the buyer, instead of reselling, buys
more stock from the second salesman.
The slick statesmen then disappear
and the buyer realizes that wallpaper
is much cheaper than the paper he has
purchased.
A mushroom bucketshOp in Philadel-
phia a year ago played a wonderful
game while it lasted. Out of the tele-
fhn
1900 names, and to these addresses
they sent trade letters. To 1000 of
the addresses these sO-called brokers
stated that a certain stock was due
for a sudden rise. To the other 1000
persons went similar letters stating
q fall In this manner, the bucketshop
keepers made 1000 friends who
thought the brokers knew what they
were talking about when the stocks
did 60 up. This was followed by
telsSnone CATS for orders and many
Shares were purchased. The 1000 per-
sons who were told the stock would
go down were not bothered again.
The following day out went 1000
letters to the ones to whom the guess
right letters had been sent. In this
instance, 500 letters predicted an adj
vance in the stock and to the re-
mainder went word of a decline. This
left 500 customers who would by this
time swear by the prophets" When
the list was completed, and the brokers
had made q nice haul, new names were
taken from the telephone directory and
the process repeated.
Prominent Names Factor.
A favorite trick of the stock swind-
lers-that is the mushroom variety
that bloom overnight, fleece the Gin
nocents," and then depart either to a
prison cell or parts unknown-fs to
adopt the trade name of prominent de-