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
Well, the philanthropic owners of the "Holy Moses" will put that stock
on the market for him at once and send him the proceeds, if he will
kindly send in his stock with authority for transfer in blank.
The Indiana sucker bites at the bait and sends in his thousand
shares to be sold. No sooner do they reach the office than they are
immediately started off to Michigan to Wilson, after the precaution
has been taken to remove Johnson's name from the face of the stock and
substitute Wilson's. The authority for transfer in blank, and the fact
that the transaction is a transfer of stock, is thus kept from Wilson.
In due course of time a fat check from Wilson finds its way into the
coffers of the "Holy Moses" promoters. And also, in due course of
time, Johnson wants to know something about that sale.
"HOLY MOSES" FALLS.
He is met with the doleful news that while his stock was on the way
to Chicago, or elsewhere, the stock in "Holy Moses" had experienced
such a decided slump that it was impossible for them to sell it at a
profit. If he desires, they will hold the stock for a raise, which
they expect as soon as the present unfortunate financial panic has
passed, or until industrials begin to go up. The drop in "Holy Moses"
is not due to any slump in the production of the mine; far from it. It
is only the unfortunate financial depression which is to blame, and
there is no doubt but that "Holy Moses" will go up a-whooping very
soon.
Naturally Johnson bites again, and says hold the stock for that raise.
Meanwhile the stock has been procured again from Wilson and sent to
Baker, in Kentucky. And so on, indefinitely. It is only when some of
the swindled ones become particularly savage that their stock is
returned to them. And then it is not their original stock at all, but
a new thousand shares which some sucker has sent in.
One block of stock in one company was sold in this way in 1907 by a
Chicago mining company, no less than twelve times.
The activities of Detective Wooldridge afterward put this firm out
of business, and the head promoter was arrested in the West by the
federal authorities.
It is well that all these facts should be taken into consideration by
the public before investing in mining shares.
FIRST PRINCIPLES IN MINING PURCHASES.
Here are a few good leads to follow in buying mining stock. First
make sure that there is a producing mine. Then make sure that the
stock you get is not kited stock. But, above all, make sure of the
responsibility, respectability and solidity of the firm from which you
make the purchase.
A GIANT SWINDLE.
BANKS IN CHICAGO, NEW YORK AND LONDON BADLY FLEECED.
Bogus Notes and Stock--Many Firms Are Victims--Prisoners
Said to Have Practiced Frauds Under Titles of
Corporations--Chicago, September 14, 1906, Detectives
Wooldridge and John Hill Uncover the Fraud--Five Men
Arrested.
Public-domain text, read in full here on John Shaqi.
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