Ogden Standard-Examiner | 1922-05-21 | Page 22 | Many Deceived by New Stock Schemes

MANY DECEIVED BY NEW STOCK SCHEMES Every day In the New York dallks can be found numberless ads more or less cleverly written In which the young fellow wanting a position la told he can make ten to twenty thousand thou-sand dollars a year soiling securities. There are about twenty thousanJ stock salesmen running around New York trying to sell stock in new enterprises en-terprises or companies being refinanced refi-nanced with the aid of these cbaiu-offlce cbaiu-offlce brokerage establishments. i Probably two hundred million dollars dol-lars a year is going into those stocks In New York alone, and every larga city ln tho country has a branch office of-fice of one or more of these organizations organi-zations that ls sending Its ambltlom young salesmen throughout the eur rounding territory. And what of the stocks that are being 0 enthusiastically offered with the bait of "Largo earning power on your money7' For every one that will pay somowhero near what the buyor is led to expect from it, there are several that will go to the wall, and the balance will never pay more I than 6 to S per cent And when tha owner wants to get hi? money out of these stocks he will learn their truo ...r.-tV. , t I . . ,, " i jiLLuiumg iu jireacni available avail-able figures ho can got only one-third one-third or one-half of what he paid for tho stock if tho company is still ln j existence. If ho ls willing to wait to 1 let tho organization from which bought lt dispose of It for him. it will cost him anywhere from 10 to 26 per ent for selling commission and ho will have to wall some time for his money. Ho has no redress; ho has bought the stock and must continue to hold It While others are buying tho new stocks that tho house has contracted con-tracted for I can emphatically state that what a talesman tolls you concerning con-cerning tho easy convertibility of these slocks is all bunk Tho only time a bank may loan money on them Is to accommodate a responsible business busi-ness man who deposits with It, and then tho bank ls likely to lose confidence confi-dence in thi business man's Judg-mont. Judg-mont. World's Work.