846 
C»c RURAL NEW-YORKER 
June 20, 1913 
PUBLISHER’S DESK 
The Assofiated Advertising Clubs of 
the World in a special bulletin give the 
press and the public the following infor¬ 
mation on oil stock-selling schemes: 
Oil^stock promoters are always on the 
lookout for new bait with which to catch 
the sucker. If the public can be induced 
to invest in flowery promises, well and 
good. But flowery promises are common 
property. Oil promoters who advertise 
use them without stint. They also re¬ 
alize the importance of new punch in 
their copy. 
It remained for an Oklahoma concern 
to work out one clever idea which en¬ 
abled its promoters to finance six com¬ 
panies within 10 months through news¬ 
paper and mail advertising campaigns. 
The Great Western Guarantee Invest¬ 
ment Company of Oklahoma City is 
sponsor for the plan, which it calls the 
stock re-sale. It is built on the guaran¬ 
tee idea and provides the most effective 
.sales argument at the command of any 
P romoter, “We guarantee to DOUBLE 
OUll MONEY.” 
THE RE-SALE CONTRACT 
The stock in a company under promo¬ 
tion was advertised at .$1 a share. This, 
of course, was an arbitrary price. Its 
only basis was what the company might 
do in the future. Included in the sub- 
.scription blanks was a contract in which 
the Great Western Guarantee Investment 
Company, as fiscal agent for the promo¬ 
tion, agreed to re-sell the stock after a 
given period, usually six months from the 
time of sale, .so as to bring the holder $2 
for each share, or double the .$1 he had 
originally paid for it. 
For an oil promotion company without 
production of commercial value to guar¬ 
antee success, or to say that six months 
ahead its stock will be worth double the 
purchase price, is in itself striking evi¬ 
dence that stock selling rather than oil 
production is the primary reason for its 
existence. 
STOCK VALUE INFLATED 
Circular letters to stockholders em¬ 
phasized the success of the company and 
the great demand for stock. As the date 
drew near for the comprny to comply 
with its re-sale agreement they were ad- 
^•ised that the price of stock had reached 
.$5. Circulars quoting stock at that price 
were distributed by the Great Western 
Guarantee Investment Compan.v at the 
same time that Oklahoma City brokerage 
houses were reporting it as not active and 
the prospects of the promotion as uncer¬ 
tain. 
A man may be sucker enough to buy 
stock at $1 in the first place, but he will 
hardly be sucker enough to sell it under 
his re-sb-le agreement for ,$2 when he has 
been led to believe that it is worth .?5. 
Few stockholders, therefore, took ad¬ 
vantage of the re-sale agreement when 
it came due. Those who did were not 
enough in number to embarrass the in¬ 
vestment company financially, ('onse- 
quentl.v the Great Western was tempor¬ 
arily safe, and immediately launched a 
new promotion on the same basis. 
A concern can well afford to see that 
a feAV stockholders are accorded kind 
treatment. It can Avell afford to carry 
out its contract with them to the letter. 
They become- its most enthusiastic boost' 
ers. 
When the few turned in their stock to 
be sold at .$2. there seemed little reason 
to the Great Western why it should be 
sold for that money when advertising cir¬ 
culars were at hajid to show that it was 
worth .$,5. So the stock turned in iinder 
the re-sale was offered to the public at 
a share. 
ONE TO FIVE TO TEN 
If stock can be sold at .$1 on glowing 
promises_ that it will double in value 
within six months, the same stock can 
later be sold at ,$.'5 a share if the adver- 
ti.siug is bombastic enough to fool the 
reader into believing that within a short 
time it will be worth IflO. The advertis¬ 
ing of the Great Western did so. Its cir¬ 
culars advertising the stock at $0 were 
evt'u more flamboyant than those which 
had featured it origin.ally at .$1. 
Gn each re-sale at .$0 a share. .$2 went 
to the original stockholder, and $3 went 
to the Great Western Guarantee Invest¬ 
ment Company. The inflation in value 
thus served two purposes. It protected 
the company from loss of money through 
being swamped by having the greater part 
of the outstanding stock turned in through 
the re-sale agreement, and it also made 
money for Hie company on such shares as 
wc'-e turned in. 
Then the sale.smeu and stockholders be¬ 
came su.spicious. Federal authorities 
were called in. as a I’esult of which Ells¬ 
worth .7. Green and liis sou. the chief 
lu'omoters of the Great AYestern (^om- 
liany. were arrested at Oklahoma City on 
charges of fraud in misuse of the mails. 
'Pheir bonds are fixed at .'i^l0.000 each. 
.\ receiver has bi'cn appointed on the pe¬ 
tition of stockholders, who filed civil ac¬ 
tion in the State District Court. 
rerhaps none of our readers are di¬ 
rectly interested in the oil iiromotions of 
these “get-rich-f|uick” artists—we hope 
not. But the story has a human interest 
and fairly illustrates tlie methods by 
which confiding people and those who take 
a chance on schemes of various sorts are 
swindled out of their savings. 
No matter what the stock selling 
scheme may be the methods of the pro¬ 
moter are in a large measure alike. 
AAHietlier the stock is of an automobile 
concern or an oil well, a publishing house 
or other business enterprise, the promise 
of big ijrofits is always the promoter’s 
stock in trade. 
I would like you to ask the Moore Seed 
Co., 125 Market St., Bhiladelphia, Pa., 
to return me $5 I sent them the last of 
February for seeds; .$3.75 was for one 
bushel of seed corn, and the rest for other 
small seeds. When it came the corn was 
the small round grains off the small end 
of the ear, and a great deal of it had the 
hearts eaten out of the grain. I was 
very sick, so could not send it back for 
two or three days, but just as soon as I 
could get out I sent it back to them, as 
their catalogue said if not satisfactory 
return at once, and I did so. I have 
written them tw'o letters asking them to 
return me my money, but no answer. I 
can prove the corn was not fit for seed 
or even to feed the chickens. g. II. B. 
New Jersey. 
As usual, the Moore Seed Co,, Phila¬ 
delphia, refuse or neglect to reply to let¬ 
ters of complaint from customers. G. 
II. B.’s experience may be of service to 
other families. 
On May 17, 1917, I shipped .7, & S. 
Samuels, Newark, N, ,7., 15 dozen eggs 
at 40c. I received a $6 check for those 
and then June 11 sent them GO dozen at 
37e. In the meantime the ,$G check w’as 
returned protested, and then my letter 
was returned marked “Moved—left no ad¬ 
dress.” This has been almost a year, and 
just a few days ago I received the en¬ 
closed letter from M. Abramson, offering 
to make loss good. I never shipped to 
him, and I suppose he is referring to the 
two shipments I sent to .7. & S. Samuels. 
I sent this man the bill, but have received 
no reply. n. D. s. 
AA e have no information of any connec¬ 
tion between M. Abramson and .7. & S. 
Samuels, but M. Abramson has done busi¬ 
ness under so many names that it is pos¬ 
sible that ,7. & S. Samuelson is one of his 
aliases. Abramson’s record in both New 
York City and nearby points in New ,7er- 
sey is one of soliciting egg shipments and 
failing to pay the shipper for them. He 
has been convicted of swindling at least 
twice and served time in jail in conse¬ 
quence. We hoj)e no other egg shippers 
will fall into his trap, or into the trap of 
others of his kind. 
Permit me to express my sincere thanks 
and appreciation of your efforts to col¬ 
lect a claim for one cr.ate of eggs which 
the Adams Express Company had failed 
to deliver. Same was recently settled 
for by the express company, after over 
nine months’ patient waiting. Beceiving 
check at this late date, after having given 
same up. I owe my luck to The B. N.-Y. 
New Jersey. r. j-. 
The express comi)anies are soon to be 
consolidat(‘d and operated by the govern¬ 
ment. Geo. C. ’Jhiylor, now president of 
the American Exiiress Company, will be 
president of the companies so merged. 
He assures us the matter of claims is 
having a careful attention, and he hopes 
and believes there will be less complaiut 
in regard to delays. Ilis methods with 
his present company have been more ef¬ 
fective than those of Adams Express Co., 
and we feel confident Mr. Taylor will 
bring about a radical i-eform. AVe must 
be patient, realizing all concerns are 
handicapped for hel}), but nine months is 
outrageous for investigation of a claim. 
Do you know anything about the en¬ 
closed advertisement of T^. S. Government 
Indian I.and Sale? I have u friend who 
is interested in it. p. n. 
New Y"ork. 
Tlie advertisement invites tlie public to 
visit tlie Oklahoma exhibit car on the 
tracks in Buffalo. N. Y., but the name 
of the individual or concern paying for 
the advertisement does not aiipear. Es¬ 
sentially this appears to be a resumption 
of the old McAlester Beal Estate Co. 
scheme, in connection with which tlie of¬ 
ficials of that coiniian.v were indicted in 
Cincinnati some time ago. charged with 
fraudulent use of the mails. AA’hether 
the old crowd is re.sponsible for tin* “Ex¬ 
hibit Car” appearing in tlie East again 
or not, our advice to the public is to 
give it a wide berth, fl’here are no riches 
to be made in speculating in Oklahoma 
lands—if there were Oklahoma capital 
would be prompt to grab up such lands— 
and there is plenty of money iu Okla¬ 
homa to do it. 
.V 
Food Control 
Begins at the Thresher 
CAVING grain means sav- 
^ ing the nation’s food. Too 
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more to help the food problem. 
Buy or hire a 
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Special 
and note the way the famous 
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AVrite us and ask about our 
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In Continnous Business Since 184S 
Builders Exclusively of Red River Spe¬ 
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Steam and Oil-Gas Traction Entfines 
Battle Creek Michigan 
The National 
Government 
and many" 
State Governments 
have chosen 
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Write for free booklets on the Care of 
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Cuitee 
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104 Highland Warsaw, N. Y. 
Some territory open for live dealers 
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