The Carbon County news. [volume] (Red Lodge, Mont.) 1924-1931, 1929-08-08
BEWARE OF UTAH
STOCK statesmen
Public is Warned Not to
Purchase Worthless
Stock

deals are what keeps the whole world
moving. But all business is not what
1t seems-in fact great. amount of
it Is. so constituted that the promoter
gets the cream and the investor gets
nothing. By this we allude to buying
shares, stocks or certificates. They
are all to be classed in the same way
and manner.
There is no legitimate investment
that should bring one twenty-five per
cent profit in one year. There may
be such occurrences once in a while,
but no agent should guarantee or even
leave the suggestion that this is pos
sible.
We are in receipt of clipping from
Provo, Utah, newspaper,which tells
of the operations of new scheme for
selling shares or certificates to the
small investor, 1t tells of the opera
tion of the Deseret Mortuary COM
pany, scheme for securing money
from the class of people who can
least afford to be misled Following
is some of the article as copied from
the Utah paper:
Several emphatic reasons why the
sale of certificates of the Deseret
Mortuary company should not be per-
mitted in Provo and Utah county
have been filed with the board of di-
rectors of the Provo Chamber of
Commerce by a special committee
selected by the board to investigate
the standing of that organization.
The investigation committee was
appointed by the board when it was
indicated that the corporation in
tended to flood this section with their
statesmen. To be prepared to give in
formation to the general public and
to safeguard the interests of the peo-
pie of Utah county was the only rea-
son why the investigation was ordered
by the local Chamber of Commerce.
After carefully inspecting the re-
port of the committee, the board of
directors unanimously voted to adopt
the same.
I'm its report the investigating COM
mittee reviewed the history Of the
Deseret Mortuary Company since its
establishment. 1t shows how it was
refused by the State Securities Com
mission to sell its securities in Utah
for the reasons that no provision had
been made to guarantee the service
promised and for failure to provide a
reserve fund.
"The report also quotes an opinion
from the Attorney General Of Utah
as saying the certificates are abso-
lutely worthless, since the articles of
incorporation of the company gives a
majority Of the outstanding stock the
power to dissolve the organization by
disposing of the assets Of the cor
poration. This is especially danger
Gus, it is pointed out, since the holder
Of certificate has no voice in the
affairs of the corporation
"The report further shows that in
vestigating committees from the
Chamber Of Commerce of Salt Lake,
Ogden and Logan, the Weber Club of
Ogden, and the Better Business Bu-
reau of Salt Lake City all have gone
on record as declaring that as far as
the certificate holders are concerned
the corporation in question is un
sound and hazardous.
'The conclusion of the investigat-
ing committee of the Provo Chamber
of Commerce is as follows:
"A certificate holder who does not
need their service for five, ten or
more years, has no assurance that he
will get any service at all, or if he
does get it there is nothing to guar
antee that the costs will be lower than
prevailing charges at that time for
such services. They might be even
more.
g. There is nothing to prevent the
Deseret Company at any time, accord
ing to it's articles of incorporation,
from disposing of all of its assets and |
going out Of business in which case
the certificates would be absolutely
worthless.
For these reasons the committee /
considers the certificates of the cor
poration as an unsound and unsafe |
investment We would suggest to any
prospective purchaser that before en-
tering into any agreement with any
salesman representing that organiza-
tion he should first see his banker
relative to the purchase
1t is natural for people to be in
state of mind at the time of death in
a family whereby they will wonder as
to what is best in the matter of caring
for and disposing Of the body of a
loved one. This is the time when an
agent of one of these concerns can
play upon the tender emotions. The
fact is that such agents are known to 7
even approach the mourners at the |
grave side and tender their PROPOSE
ton. They haunt the homes of the
sick, pandelfng to the soon-to-be be-
even waiting decently un-