Jasper County Democrat, Volume 18, Number 28, Rensselaer, Jasper County, 10 July 1915 — MAKING BAD INVESTMENTS. [ARTICLE]

MAKING BAD INVESTMENTS.

i’he ollbwing editorial from the 1.. : ; Journal will -aiq-.iy equally ' well to Rensselaer and the part The 1 ■ merat Ims i: ken jn trying to pro-j t s -" i ; . - clientele trot:: the scheming itors. and .get-rick-quicklandi and stock salesmen who . Jve invest-j • d town and county d ring the ' ■ pa.-t. twenty years. We, too, have 1 s <!■ •: nijnated • rd' thd j - against thebe.: inn re Ransfcelaer, yet in e cn instance it has ! turned out that T:.- H'-.i.r;*-right :and-the i'<-l’ov.s w. I bricks at iis-v..-re wr<; _. 1 The Journal fe a 1.i.,n p. r| bnd one of the largest and mest in-1 fiuehtial ip v. -g: • : ■ • . .. q£,;the state, its rer.;,;,r!':s-s.loiig this line should be . given consideration : therefore by those <.f our readers Who may,not agree with rts politi-1 eally and who view everything emanating from a Demoaravic source in the same light as ti... o: a former Republican legislator froui this county, who, when a Republican farmer constituent called upon him on the floor of the legislature, and, after watching the body work for awhile, asked the Republican statesman how he knew which v,ay to vote on the bills that came up, and received this reply: "You see that man sitting down on the third row, at the right?” ' “Yes.” ■ ’ Well, he is a Democrat. and his name is called before mine. 1 watch and see how he votes, then vote just the opposite.” The constituent returned home much disgusted with the Rensselaer statesman. •Why,” said he in telling about it afterwards, “that Democrat might have been right.pan of the time.” Here is what the Journal has to say on the proposition of grabbing at every proposition that conies along without stopping to investigate: Within the last few years the people of Lafayette and surrounding country haye been robbed of several hundred thousand dollars by the promotors of worthless stock. This has been a profitable field for the plausible Wallingfords who have held out glittering promises of large returns on money invested. Seemingly the people have failed to investigate carefully, as they should have done, the characters of the several propositions. Instead they have accepted the different projects as sound and been ready to believe that money invested would be safe The people have seen only the fascinating pictures that have been drawn by the gifted promoters Which have shown only wealth for the investors. These smooth and oily ton gued promoters have been plausible; they never admit the possibility of failure or loss. They have talked as

only promotors can talk, using arguments that apparently were convincing, snaring the unwary and draining the community of hard-earned delk.rs that should have been left in the savings bank or invested in legitimate enter: .A history oT” the promotion schemes thgt have been worked on the people- pf Lafayette and snr rounding country -would fill, a book a?-'l the dollars that have been wasted on timiu would, lit properly in-■•.-:»d, have inade Lafayette a City o s many times its present size. The I : b- r.; not iprgoti'n the Columbia Casuidty company, neither has it -mt".: ;he ; : cmiotioh■ Of the, on <:>■■■; i Ti?himingo railroad tie. T msb ■ ■ fair samples of the projects in ■ v people have lost money by - iii . the word of the promotoi-s ! not digging down into the busilaCts tiie propositions. • ',- i : t i.e Jdtirnal t hat burst! the bubble and saved the ‘ . I- cm..mtinity :'.oiisand:- •: . p blishing the: truth - ifout t e great; swindle. Every poswas, brought to beat < t.., '■ to toree thio Jaiirtuu into silence. V.’e were threatened w ith rdits for libel and arrest for criihihal 1: el. It Was freely chtirged i' v <•' ... ,e •'knockers,” that we wry v.'rC.iug ; : uiiist the intdresw :!;<?■ w■. l.ec:ii:-e Hie Tishiminao ■■■.irotni.-ed” to build a fa<tory in Lafayette and emidoy inanj .f.,- p. Some, satisfied by a promise ■ promoters, who cOttld promise c'pt.'ng. accepted the Tishimingo ; < J sound bu siness proposition and ■ or. ; . -‘rd i;A Journal for publish- '• : • ..at ion that interterred with the sale of the traudulent stockThreats an I coercion failed to intimidate the Journal at that time. it her. was the Journal to be cheekI'ed' in the per ormance of its duty by I • e fraudulent use of that grana old slogan: • Boost the home town.'’ Every ■ knock” that the Journal put in against the Tishimingo swindle yas a “boost” for Lafayette. We had the faits and we proceeded to give them to the public. Our judgment has been vindicated and our course has been approved by the people. The Journal believes that Lafayette has no great industrial or commercial future until she learns to distinguish between legitimate and fraudulent-.' enterprise. lij our judgment a local credulity, founded on a desire to get rick quick, has worked immeasureable injury to the city. We believe that the time has come '.vhen Lafayette should cease trying to grow and develop on promises and that we should drive the fake stock schemes from the city in Order that honest investment may have a chance. The Journal believes that its readers are its clients and that we have a duty to perform. We believe it our duty to ask questions about stock promotion projects that seek support in this vicinity and we propose asking them. We believe it bur duty to give our clients full information about stock selling propositions. And we believe that every enterprise that seeks support of this community and promises benefit to Lafayette. should be able to stand in the searchlight of publicity; if it can’t, it does not deserve our support and it really, guarantees nothing to Lafayette except more losses and more disappointment.