The victim went to the richly furnished suite of offices occupied by the guarantee company and met its dignified "president," to whom he explained the purpose of his visit. "Very good," said that official. "We will accept your risk. We will issue you an option agreeing within one year to issue you bonds against your stock as sold, you to pay us an advance fee of $1,000." The "sucker" demurred. He had only $500 spare cash. The president suggested that as the broker would make a liberal commission out of the deal he might put up the other $500. The manufacturer 'phoned the broker, who promptly agreed to pay one-half of the fee. The broker gave the victim a worthless check for $500, which he gave, together with $500 of his own good money, into the hands of the "guarantee" company. The company thereupon issued a certificate, or option, for bonds that were never called for because the broker never sold any of the stock. The victim went home loaded down with promises. The broker "strung" him along for a month or two, but sold no stock. Finally the manufacturer realized he was buncoed. The broker and the "guarantee" company divided the $500, and proceeded to find other suckers. March 17, 1906, E. C. Talmage, who conducted the National Underwriting & Bond Co., of San Francisco, Cal.; the Pacific Underwriting & Trust Co., of San Francisco, Cal.; the Imperial Bond & Trust Co., of New Jersey City, New Jersey; the International Trust Co., of Philadelphia; the Chicago National Bonding Co., of Chicago, at 52 Dearborn street; E. C. Talmage; E. S. Barnum, 103 Randolph street; and M. J. Carpenter, of the First National bank, were arrested. George D. Talmage, another member of the firm located at Kansas City, Mo., was afterwards arrested and brought to Chicago, charged with obtaining money under the confidence game. The warrants on which they were arrested were taken out by E. J. Denison and Rev. Peter A. Baart, a Methodist minister of Marshall, Mich., who were officers of the La Vaca mines and mills, of Joplin, Mo. Rev. Mr. Baart first went to E. C. Talmage. Talmage sent him to E. S. Barnum to have the stock guaranteed. Barnum charged him a fee of $500 and agreed to sell the bonds, which he failed to do. They just simply divided this fee between them and made no effort to float the bonds. Among the persons alleged to have suffered losses are the following: