Twenty Years a Detective in the Wickedest City in the WorldWooldridge, Clifton R. (Clifton Rodman)
History
Twenty Years a Detective in the Wickedest City in the World
Wooldridge, Clifton R. (Clifton Rodman)
Crime -- Illinois -- Chicago; Police -- Illinois -- Chicago
Bell's spirit appeared to be as big as the other man's body. This
may have been due to the fact that he saw that "peaching" on his
confederates was the only method of escape. Anyway Bell "peached."
He told of the dynamite plot and the dynamite was seized. Dr. J.
A. Wesener afterward declared that there was enough of it to have
destroyed the whole building.
It was so undoubtedly true that Bell had been of service to the state
in revealing this plot that a plea for clemency was made for him and
so he escaped the penalty for his crimes.
But the experiences of Bell, and the fear of Detective Clifton R.
Wooldridge had the salutary effect of putting a stop to the "Show-Card
Writing" fraud in Chicago.
THE BOGUS MINE.
$100,000,000 EACH YEAR LOST BY INVESTMENTS IN FAKE MINING SCHEMES.
To what extent investment swindlers have operated in Illinois will
never be known, for some of them have so thoroughly covered up their
transactions that it will be impossible to disclose them. This is
especially true of a class of mining companies, the promoters of
which remained in the background while their dupes were gathered
in by seemingly respectable residents. These concerns operated by
giving blocks of stock into the hands of unscrupulous men with good
or fairly good reputations, and the latter disposed of it to such
unsophisticated acquaintances as could be easily gulled.
Gold and silver mines in Colorado, Nevada, and Utah furnished the
basis for most of these swindles. Sometimes the company really had an
old mine or claim that had been abandoned, sometimes it had a lease
on some worthless piece of property that was "about to be developed,"
but frequently it had nothing more than its gaudy prospects and its
highly decorated shares of stock to give in return for the money it
received. Money-grasping church deacons were the favorite agents for
these swindles and widowed women without business judgment their most
common victims.
It is estimated that in this country every year nearly $100,000,000
are taken out of the savings of people of limited means by financial
fakers, especially mining and oil fakers. During the last five years
Detective Wooldridge has observed the "financiering" of several
thousand fake companies, each of which secured a great deal of money
from ignorant people.
Bands of swindlers repair to mining camps and establish branches
there. They expend a few hundred dollars for shreds and patches of
ground void of present or prospective value.
They then form a mining corporation, place its capital stock at some
enormous figure--a million, two or three million dollars--appoint
themselves or some of their confederates, or even their dupes,
directors, and sell the worthless claims to the company for a large
proportion, or perhaps, all of the capital stock of the company.
Public-domain text, read in full here on John Shaqi.
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