Show THE GRAFTER overreached there are tricks in all trades and graft ers connected with every industry known but the trickster always sooner or later overreaches the mark in his quest of the elusive dollar and generally lands behind the bars where he belongs A recent issue of the new york curb contained the following story by wallan broad illustrative of the surprises which sometimes await the fake stock buyers the business of stock selling is not always the path of roses that we are sometimes lead to believe usually in thinking of promotions stock brokers or bucket shops we regard them as having it pretty soft with the money all coming in and nothing going out but a police court case this week disclosed the fact that they are but human and are made easy marks of once in a while the case in point is that of a promoter who has had a fake broker arrested for obtaining money under false pretenses by getting advances against commissions on fake sales and the way the arrest occurred is quite amusing the president of a mining company was making a friendly call upon a friend and neighbor who happened to be an official of an industrial company that is raising some new capital through the sale of stock the two officials got to exchanging experiences in stock selling in general and stock salesmen in particular the mining man related how he had lost thousands of dollars through advancing all or part commission on stock sales that never were closed and the man did likewise though he ala aid not say so the mining man went on to relate what he considered the worst deal he got in all of his experiences A woman came into his office one day and inquired if lie he had any stock to sell the miner admitted he did whereupon the woman suggested that she had some friends with money who would invest upon her recommendation ommen dation but she felt entitled to some pay for such recommendation and thereupon presented a letter of endorsement written on the letter paper of a suburban national bank and signed by its cashier certifying to the good character of the bearer this looked pretty good to mr air miner so he agreed to pay the woman a a commission upon any sales she might influence in the course of a couple of days she caceci canea up on the phone and requested mr miner to meet her at the uptown hotel that she had a well to do produce merchant who was disposed to make a substantial investment the hotel suggested happened to be the one the miner lives at so up he went and his lady friend introduced him to the prospective investor who in turn proceeded to make a thorough investigation of a very good mining enterprise that lie he contemplated making an investment in he sure did know his business and did make a very complete investigation of the reports as says workings costs production profits and everything else pertaining to the property resulting after a two hour interview in expressing complete satisfaction and a disposition to purchase a good fat block ol 01 stock but lie he felt that lie he ought to know something about mr miner himself for after all is said and done is it not good honest management that makes mining dividends this looked reasonable to mr miner s so 0 lie he referred the prospective investor to the proprietor of the hotel whom lie he knew very well and the prospective investor talked to the hotel man for fiala half an hour and came back well satisfied signed up the subscription and asked well how do you want the money of course it was not to be expected that an ordinary produce merchant would be carrying so much money around on his person result a suggestion that lie he go by the bank and get st i check certified and off he started whig the miner and the lady broker were awaiting his return the lady in the case suggested that she had another important prospect to bring in and would go out after him also but that she was short of ready cash and would mr miner kindly let her have part of the commission on the sale just made sure how much fifty will do thank you and out goes the fifty and the lady never to return nor did the investor ever come back to pay for the stock lie he bought all the while the mining man was relating this tale the manufacturer was thinking how similar it was to one of his own recent experiences perien ces with the slight exception that his deal was still under investigation and that the large investor was due to come in any minute so he asked the miner if lie he would recognize the produce man if lie he met him again sure lie he said 1 I would know him if I 1 met him in the bottom of liell hell well look chos here and thereupon entered the supposed large stock buyer to go through the same formalities with the manufacturer one spring and the miner was at his neck and instead of what might be expected under the circumstances the faker denied all knowledge of the transaction with the miner and pretended to be a stranger to him this was too much for the miner so lie he just dragged him out into the street and right out before the whole curb mariet mai ket and handed him over to a policeman A charge of obtaining money under false pretenses was entered and within an hour they had him in court and held under heavy bail there is a good lesson in this story it if a few more promoters and stock brokers would pluck up courage and prosecute some of these fake stock buyers drawing ac ca count artists and advance money beats they would rid the business of a serious menace reduce the cost of ral raising sing capital for legitimate enterprises and also secure for actual stock buyers a larger net sum for actual development of their property |