Rensselaer Gazette, Volume 2, Number 39, Rensselaer, Jasper County, 19 January 1859 — A Specimen of Western Sharp Practice in Trading. [ARTICLE]

A Specimen of Western Sharp Practice in Trading.

i [The Crown Point, Register, published in five adjoining county of Lake, tells the fol- , lowvngjoii two of its citizens. Sharp peo- . pie, are the Crown Pointers.] A roan who is widely known among our citizens, went into Porter county sometime in the year 1857, and purchased four huni dred acres of swamp land, paying about the I entering- price, $ 1,25 per acre, making j SSOO. He then came to this county and sold thej land to a man who is not worth i anything for $6,400, taking his paper—(-four i $1,600 notes —lor the. same, secured by a 1 mortgage on the land. These notes' were j given in November, 1857, and SIOO was in- | dorsed oh one of them, leavingis ( >,000 to be i paid. With these notes, secured by- mort- | gage,'in'his pockets, he goes to Chicago and j trades them to Crane & Brother for a stock jof clothing. In due time, when the notes maj tured, tlfe holder came on to get is is money. j On presenting them to the \naker, that inI dividual put on a yery long face, informed i him that! the times were very Jsad and money j scarce; that it was impossible for him to l raise it; hud he would be obliged to let him I foreclose: the mortgage. The Chicago gentie.fnan til tikes iiVptirtes about town, and as- ' certains (he scandalous (act Unit u’t SlierilTs sale the four hundred acres of land might possibly bring •- 1.00 or SSOO, and that lie .could not get anything out of the maker loh the notes; hence lie could easily figure his protit iu the transaction something as follows: For $(>,000 worth of clothing received SSOO in siwnnp lands; loss, $5,500. The profits to the other party loot up a little different: Bought $6,000 w orth ol clothing, for which paid SSOO in swamp lands, and S4OO to get notes to trade on; t0t:!,.5900; profit $5,100. The first party to the transaction paid to the second about SBOO or S4OO for his four notes of $1,600 each, with S4OO indorsed on one of ! them.