The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-02-15

The apparent ease with which Raymond
J. Bischoff separated Chicagoans Of several
millions of dollars of their savings would seem
to prove that the average man does not profit
by repeated exposures of similar frauds prac-
ticed upon the public What punishment, II
any. is to be melted out to Bischoff by the law
matters little. The tragedy is in the loss that
has been suffered by those unprepared to bear
it.
Bischoff is only 25. He is a former resident
of Davenport It has been discovered that he
posed in Davenport and in other cities as one
of the heroes Of the famous Princess Pat
Canadian regiment in the recent war, and was
made much of by society because of his
claimed thrilling battlefield experiences. No
one at the time thought Bischoff might have
been an imposter. After he left Davenport it
was learned that not only had he not been a
member of the Princess Pat regiment, but in
reality he was deserter from hte American
army.
Bischoff, seemingly convinced By his Dav-
export adventure that the American public is
an easy mark, located in Chicago, and began
operating as financier, dealing principally in
oil stocks. He concentrated his fire among the
residents of the stock yards district, mostly
working people. The money come so rapidly,
and in such large volume, that it was not long
until Bischoff had his parents ensconced in
mansion and supplied with automobiles and all
the luxuries that wealth could provide.
There are other Bischoffs in Chicago And
you will find them in other cities All of them
do not carry on their work on such an elabor
ate scale as did the young man who now finds
himself in a legal tangle, but they keep going,
nevertheless. Only last week a representative
of the state government was in Rock Island to
investigate stock dealings Of a salesman who
did flourishing business here during the past
year. The state has put up safeguards to
shield the investor against the stock swindler,
but in spite of these he is able to carry on his
operations at least for time, and long enough
to ensnare lot Of victims before he is ex-
posed
The man or woman with few hundred dol
lars to invest naturally wishes to get the largest
possible return when that money is put to work.
The prevailing rate of interest at the banks
seems small, and this fact is capitalized by the
glib stock salesman when he is working on an
uniformed prospect. The salesman cites in
stances where fortunes have been made by the
investment of nominal sums He does not have
to lie to emphasize these stories, because it is
known that there are such instances. But they
are rare
1t makes no difference where you live or
what your circumstances, there is always avail
able to you for the asking the advice of men
qualified to enlighten you financial matters.
Here in Rock Island we have several banks,
the officials of which ever ready to coun-
sci the people with money to invest. Or you
can turn to your city directory and find the
names of men engaged in the stock and bond
business who will be glad to counsel You The
bankers and the stock and bond brokers are
residents of your city, and it is to their inter
est to safely guide you in the placing of your
money. When in doubt in future over any
investment go to of them. They'll steer
you clear of BischoM and his kind