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
Why not use the same precaution when buying stock? Don't believe what
the promoter tells you about the value and prospects of the stock he
wants to unload on you. Don't take it for granted the stock offered
you will turn out a great money-maker and dividend-payer because the
promoter tells you so.
The promoter, generally a person from another city and entirely
unknown to you, has no interest in you, but is prompted by his own
selfish interest to sell you something which, in many cases, he
himself would not buy. He may Offer you a good thing, but it is up to
you to find it out.
INVESTIGATION NECESSARY.
In most cases, an intelligent investigation will prompt you to let
alluring offers of great wealth for little money severely alone.
The observation of the common-sense rules outlined above will save
investors bitter disappointments and heavy losses.
It is safe to say seventy-five per cent of the so-called "Mining,
Plantation and Air Line" schemes and "Security" companies now paraded
before the public in flaring advertisements in the daily papers, and
through glittering prospectuses sent through the mails, are vicious
swindles. Men who operate these frauds pretend to be honest and
high-minded. By constant practice of their wiles upon others they
develop self-deception and come to believe in their honesty to such an
extent that when questioned, they assume a good counterfeit of honest
indignation.
Most of them do not own the furniture in the offices they occupy
while swindling the public. It is a common practice for them to rent
offices in national bank buildings and to furnish them with rich
furniture bought on the installment plan, to make the necessary
"front." They spend their cash capital for flaring advertisements,
sell as much stock as they can induce the gullible public to buy,
and then decamp, leaving unpaid bills for advertising, if they can
get credit after their cash is exhausted, and their furniture bill
unpaid. The absconding swindler is usually succeeded by an "agent" or
"manager," who repudiates the bills against his rascally predecessor
and continues the work of fleecing the gullible under some new title
or by means of some new trick.
KEEP LISTS OF SUCKERS.
Every well-equipped fraudulent concern acquires the names and
addresses of susceptible persons. Painstaking revisions of the
lists made up of these names and addresses form an important part
of the labor of the principals or employes. The lists grow as each
advertisement brings inquiries from persons who, either through
curiosity or desire to invest, write for particulars. Affiliated
swindles operated in succession by a gang of "fakers" use the same
list of "suckers."
Public-domain text, read in full here on John Shaqi.
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