The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1924-12-16
MIN0T 'ST0CK
EXCHANGE'BAIT
FOR CON GAME
Montana Ranchcr Swindled
Out Of $500 After "ln-
vesting." He Says
SADDER BUT WISER

Minot. y. d.. Dec. lG.-Onc Of tn"
mos unusual and interesting c"ntl-
dence stories was laid bare in thus
CITY last week when Einar Nc&rth, u
young ranchcr residing near Malta,
persuaded to invest in copper stock
ON Il mythical! Minot stock exchange.
The sWindlc. one OF the most cIey-
clly planned and executed frauds of
its kind ever pcrpctratcd IN Nnot
when told, rivals in interest the often
lccitcd tales Of the sale to unsu>-
pecting persons Of the Chicago post
office, the Brooklyn bridge OF Il CON
tract to paint the Golden Gate of
California.
Chance to Make Money
The two swindIcrs, one giving the
name of Milton and representing
himself as a representative of the j.
L. Morgan company Of New York city.
and the other presenting name of
Mcdonald. Il close friend Of Milton.
"workcd on Ncscth Tor nearly 4 week
before they succeeded in securing his
confidence and the $4,000. The
young Montanan was returning from
q visit to his former home in Norway
and had stopped at Il hotel in Minot
for short visit in this city when
he met the two men who immediately
opened up Il conversation concerning
the possibilities OF making II fortune
on the Ninot stock exchange, an in
stitution which does not and never
has existed. Ncseth has since learn
ed
To Veseth, the information was
impaired that Milton. as :; repre-
sentative OF New York big bust
ness" was in MinVt to bust" up the
Minot exchange. He had just come
70 Mnot from Great Falls, Mont,
where he had broken up an exchange
in that city, Milton said. Both Mil
ton and Mcdonald had purchased
copper stock on the Minot exchange.
Nescth was told, and copper stock
was soaring far above par. and the
prospects were that they were due
TO make an immense profit
$500 Per Week
Don't you want to invest in :. lit
tie copper stock, and likewise make
a cleanup" the two newly found
friends intclrogatcd. Ncscth shook
his head in the negative way, de-
claring that he had only $50 and con-
scqucntly couldn't invest such Il
small sum.
But Ncsc,h's two kind friends did
not despair. When Ncseth couldn't
invest. tncy decided to sell their
stock at big margin of profit, and
Mcdonald left the place Of confer
ence in the hotel and went TO the
exchange intending to sell out Mil
ton couidnt be seen around the cX-
change. it was explained, because he
was in the city with the primary
purpose in mind of breaking up the
exchange. but had decided to make
little money on the side before
bringing pressure to bear that would
result in the wipinc out of the cX-
change. He was receiving 4 salary
Of $500 q week from the New York
company for whom he was working
Milton said.
Presently Mcdonald returned con-
veying the information that the stock
exchange officials had declined to
pay the quoted value Of the stock
held by he and Milton unless Me
Donald could produce $4,000
equaling the value Of the stock Ia
show stock exchange officials that in
event copper quotations had fallen
the two stockholders would have been
able to meet the losses
''lnvest," Entire Sum
Then arose the question OF how
to raise the $4,000. because both
Mcdonald and Milton were anxious
to sell. Milton Immediately dis
patched a wire to his Uncle Henry
in New York City, asking for $4,000
but a reply was received from "Aun,
Mary" saying that "uncle Henry
had gone to Mexico and had left nc
forwarding address. However, Mil
tons family succeeded in raising wha,
purpOrted to be $4,000 in currency
and Mcdonald secured n sum repre-
scented to be $4,000. Here Nesetk
yielded, after becoming thoroughly
enthused over the prospect of making
a fortune on copper stock, and from /;
Montana bank secured the $500
which he turned over to Mcdonald
who after conference with Miltor
and Veseth, decided to invest the en-
tire sum in more copper stock which
was soaring at unprecedented price
levels.
But two days later the crash came
the bottom dropped out of the cop
per market for some unexplained
reason, and Milton and Mcdonald, as