Rensselaer Journal, Volume 11, Number 2, Rensselaer, Jasper County, 20 June 1901 — The Australian Swindles. [ARTICLE]

The Australian Swindles.

The victims of a great gold mining speculation in Australia have taken U into their heads that they can get some of the money back. It appears that the,promoters sold shares to the amount of $350,000,000 in the aggregate to people in Australia and Europe, whose haste to get rich made them too credulous. Now these peo- - pie, or some of them, hope to > fir’d part of their lost easlfthrough an investigation by the parliament of the new Australian federation. They admit that $70,000,000 used in “develop-

ment” is gone beyond recovery and that the market value of the $350,000,000 in stock for which they paid more than par is $30,000,000. They are out for the remaining $250,000,000, alleging that the promoters got the money from them by false representations. From this we learn that they are. still credulous. All they can get back from the swindling promoters will npt help them urucli.' Possibly, however, if they do not hunt with a brass band they may have the satisfaction of seeing some of the swindlers behind the bars.