Rensselaer Semi-Weekly Republican, Volume 22, Number 105, Rensselaer, Jasper County, 20 September 1901 — Rogues of Wall Street. [ARTICLE]

Rogues of Wall Street.

The rogues of Wall street flourish. They are thieving brokers, promoters of mining schemes and disreputable speculators. Said a thieving broker on one occasion:y‘lf the Postoftice Department would .let me alone I would have to hire a cart to carry down my maneyladen mail. All you have to do is to appeal to the cupidity of the public. 'Promise 6 per cent dividends on a firstclass security and you can’t do business; but promise 56 per cent on a. fake and you can get rich.” Investigation proved this statement to be true. He is of the same class as the tipster fraud, who advertises that he knows exactly which stocks will advance and those that are going to decline. For $5 a week he will tell you precisely how to make a fortune. He ad-, vertises in strange ways, using a ridiculous code. For example; “Hit Kangaroo for a jump of 20 points," etc. This interpreted means buy a certain stock for an advance of ?20 a share. Such men are swindlers. Quite as contemptible as the man with a fake gold, silver, zinc, copper or oil mining scheme. He first buys a mining prospect for say $2,500 and then organizes a $500,000 or $1,000,000 company under the laws of New Jersey or West Virginia for say $2,500 more. The shares have an alleged par value of $1 each, but he offers them for 37c each from an elaborately furnished office where he poses as the fiscal agent. The rogue, who selects the broker as hit victim is more plentiful than the brokers are willing to confess. —World’s Work.