Year: 1869

divide the spoils I'll draw up the chart, r
and write a prospectus, and we'll have
matters comfortably under way in ten
days. Cad the simple idea makes me
feel like nabob." HEg as


In less than ten days the charter was
passed by the legislature, approved by the
Governor, and, printed on the same sheet
with flaming prospectus, mailed to thou
sands OF capitalists and business mec in
Kentucky, Ohio and Indiana. The shares,
that were nominally valued at $50 each.
were offered, !" to q limited amount" at
$40, with the assurance that within six
months they would command premium
in the market. q Applications came pour
ing in faster than they could be answered.
'Fne office of the company was crowded
from morning till night by people who, in
their eagerness to invest, were not particu-
lar how rudely they jostled each other; I;
and it was reported that small man, from
Madisonville, paid a considerable bonus
for the chance of a broad-shouldered Incl
vidual who had elbowed his way to the
desk in spite Of all obstacles, and who
only surrendered to the small man after
the most earnest entrcaty, and the pay
ment of greenbacks :" in hand" Ford
was right when he selected the Lead
Company for a heavy business, and his
management. of its organization proved
him very Napoleon of operators"


AS this is essentially true record, the
main interest of which centers in its exact
ness, the writer has been particular to as
certain the gross amount of cash received
for this stock, and finds it to be $103, ,760,
of which $4,000 was paid for real estate,
and $4,000 devoted to the king
capital The absolute control of the COM
pany was still left in the hands of its pro.
jectors, for they held in their own names
more than half of Its stock; and after
paying incidental expenses, they divided
cash profit of $4,000 as the product of
very light labor during four months. Had
their programme been made on q basis a
little less liberal, the profit would have
been double this sum.


s. In this company more than one man in
vested the carefully boarded savings of
years, and only to find, after few months,
that he had paid his cash for something
without value, and intangible as a dream.
1t was the South Sea Bubble, with the
scale reduced. ,


In the past five years not less thar TWEEN
tty-five joint stock companies have been or
ganized in Cincinnati on no better basis
than that above indicated. It is safe to
state that many of them were projected
with no other intention than selling out
the stock at the most, it would bring, and
then abandoning the enterprise. The
stock ofno incorporated company is worth
having. unless the company courts rigid
Investigation of its rlans and resources;
and it is certainly true that every project
of this sort that places its stock on the
market at less than par is open to lively
suspicion. 1t is safe to believe it a swindle
till it is proved otherwise.


{ In this age ofthe world, with an active
competition in every branch of industry,
and the surprising advances of science in
simplifying labor, no man should expect
to grow rich by a miracle; but every one
should remember that the reward of
honest and properly directed industry, is
ample and well assured, and content him
self with seeking a fortune in the legiti-
mate channels oftrade. M GDIPUs.