Show A MENACE TO MINING the take fake mining promoter and the gold brick artist has a near relation in the brok ed stock dealer the latter being as much of a menace to the mining industry as is the former the crooked stock dealer is nothing more than a parasite that attacks legitimate enterprises and his methods are just as shady and reprehensible as are the slick ways of the fake promoter for instance a crooked stock broker has been known to buy a few hundred shares of treasury stock from a new company just starting out the stock with a par value of say 1 a share is being sold at ten cents a share for mining development purposes the crooked broker after making his purchase notifies the company that unless he is paid 1 a share for the stock he holds he will advertise it for sale at three cents a share and thus handicap the future sale of treasury stock to prevent the stock from being thrown upon the market at such a ruinous figure the company may consent to being the victim of such knavery in order to protect the company another method is to make a contract for the sale of treasury stock on a fifty fifty basis as a commission and then to bull the stock taking all increase above the contract price and then when the public has been milked to a grand fare you well to stand out from under and let the stock drop on sharp declines until it becomes almost worthless under the utah blue sky law it is unlawful to allow a commission of more than 10 per cent on the sale of treasury stock and yet it is stated that efforts have recently been made by members of the crooked set to persuade mining companies to contract for the sale of their treasury stock on the old fifty efty basis such methods are a menace to legitimate mining and if the crooks can be reached by law they should be sentenced to the pe penitentiary n where they naturally belong |