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
Take it in the incident above related: Had these men been prosecuted
for falsely using the name of the trust company or for obtaining money
by misrepresentation (the claim that the trust company was acting as
trustee for the Brite & Fair securities), an able lawyer could have
made out of the "trust" to transfer a package of unknown contents a
very plausible defense. Again, the mining company was able to make
valuable use of the trust company's receipt for the package by having
fac similes of the receipt printed and distributed among solicitors
for the stock who were canvassing persons not at all familiar with
legal documents--and who, under the statements and arguments of the
agent, would see in the receipt an acknowledgment that this great
trust company and its millions were behind the securities of the Brite
& Fair Company.
This brings us straight to the practical point in the matter. Never go
into an investment until you first find out for yourself, by direct
and first-hand investigation, what the "references" named in the
literature or advertising matter of the company have to say about it,
and how much the references themselves amount to.
WILDCATS GIVE GOOD REFERENCE.
Promoters of wildcat investment enterprises have used hundreds
of names as references which they had not the shadow of right to
use--calculating that persons credulous enough to be interested in the
proposition would also be credulous enough to say, "These references
will speak well enough for the enterprise, else their names would
not be given out for this purpose," and to act without making any
inquiries of them.
Again, some man of prominence and great faith may have been, at the
start, a believer in the enterprise and willing to say, within certain
limitations, that he believed the venture could be made a success if
conducted according to certain plans and under given restrictions.
This does not signify that he will continue to retain that confidence
or that he is willing to be understood as giving the venture his
unqualified endorsement, or to say to the public which respects his
name and position:
"Come and share this enterprise with me; put your money into it, for
it's a good thing."
Public-domain text, read in full here on John Shaqi.
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