350 
The RURAL NEW-YORKER 
PUBLISHER’S DESK 
All letters to Publisher’s Desk depart¬ 
ment must be signed with writer’s full 
name and address given. Many inquiries 
are answered by mail instead of printing 
inquiry and answer, hence unsigned let¬ 
ters receive no consideration. 
A subscriber relates his experience with 
“The Ten Payment Plan” of investment 
as conducted by the stock brokerage house 
of E. M. Fuller & Co., New York City, 
with the result that during the decline 
in prices of stocks previous to the holi¬ 
days Fuller & Co. called for a “special 
payment,” and the investor, being unable 
to meet it, was sold out. losing payments 
he had made. Perhaps Fuller & Co. act¬ 
ed entirely within their rights in doing 
this; but in purchasing stocks on the 
“ten payment plan” the investor had no 
idea that he was subject to the same con¬ 
ditions as though purchasing on “a mar¬ 
gin.” There is nothing in the firm’s lit¬ 
erature to lead the prospective investor 
to believe that he would lose his pay¬ 
ments made in case of a decline, unless 
the following can be interpreted to this 
effect: “We reserve the right in case of 
a drastic decline to ask for such special 
payments to give you the necessary pro¬ 
tection.” Fuller & Co. should make the 
situation clear that the “ten payment 
plan” does not relieve the investor from 
all the dangers of marginal buying. 
About three years ago I bought $500 
worth of stock in the Commonwealth 
Mortgage Company of Minneapolis, 
Minn., which was incorporated under the 
laws of Delaware and promoted by Leroy 
Sargent & Co. Since then I have had 
various reports of the company, ranging 
from bankruptcy to a possible worth of a 
few cents on the dollar, and in the pres¬ 
ent circumstances, having purchased a 
farm, I am in need of money, and would 
be glad to have vou advise me if any part 
of the money invested can be regained. 
Michigan. P. M. 
The latest information available in re¬ 
gard to the Commonwealth Mortgage 
Company is that received from the re¬ 
ceivers of the concern, who state that 
there is no market for the stock, and. un¬ 
der the circumstances, it would be im¬ 
possible to fay what actual value the 
stock has at the present time. There 
was also enclosed a statement showing in 
detail the contract with Sargent & Co , 
who marketed the preferred stock, re¬ 
ceiving a commission of 30 per cent, and 
also 50 shares of common for every 500 
shares of preferred sold. All the common 
was issued to the promoter, who abso¬ 
lutely controlled the company. Exor¬ 
bitant salaries were paid, false and mis¬ 
leading statements were made in selling 
the stock to avoid the “Blue Sky Laws” 
in various Western States, and directors 
and officers diverted the funds of the com¬ 
pany to their personal use. The receiver 
furthermore stated that the situation wa.s 
hopeless, and that there was no future for 
the company. It was suggested that tin- 
affairs of the company be placed under 
the protection of the courts in order that 
every endeavor might be made to recover 
as far ae possible the moneys misappro¬ 
priated 
I am writing Goo. Higbie & Co.. Roch 
ester, N. Y.. telling them very plainly 
that we do not consider that we have been 
misinformed by parties who are evidently 
prejudiced against them, but we think 
we have been correctly informed by the 
publishers of a farm paper that has al¬ 
ways had the best interests of farmers at 
heart and has openly dared to champion 
them. I also asked them if they would 
be willing to take one of our number on 
a tour of Bucks or Delaware counties. 
Pennsylvania, or some of the other places 
that have had some experience with those 
“wonderful” Higbie seeds, to interview the 
farmers as to the results from the same. 
Pennsylvania. I- L. A. 
Now, there is a fair proposition. Hig¬ 
bie & Co. invited this farmer and his 
neighbors to come to Rochester to investi¬ 
gate their seeds. I. L. A. makes the 
counter proposition to make a tour of the 
farming sections where the seeds have 
been grown in previous years. Will Hig¬ 
bie & Co. accept? 
This is the best way I can prove or 
explain my appreciation and interest in 
you and our paper. You no doubt heard 
of the fellow who gets carried so far 
away with enthusiasm that he can’t walk 
back! Well, the fact that I’m a sub¬ 
scriber and availed myself of seeking your 
advice and having taken heed, saved me 
a long walk and lots of accompanied 
grief. I want you to know it. and 1 
hope others take heed. too. I hope that 
our fellow subscribers in the country soon 
overcome this .shrimp. I wish you my 
best and my co-operation. Your paper 
is part of our family now. both in service 
and entertainment. Why, we quarrel to 
see who first reads it at times! 
Indiana. E. G. P. 
There is food for reflection in the above 
letter. The advice not to “let our en¬ 
thusiasm carry us so far that we cannot 
walk back” will be well to remember 
when some slick agent is trying to induce 
us to sign the dotted line on some invest¬ 
ment or other equally dangerous con¬ 
tract. 
Enclosed find some alluring literature 
from Geo. H. Perkins & Co., of your 
city, who are anxious to make some of 
us poor farmers see better times. I 
did not like the looks of it. and am pass¬ 
ing it along to the Publisher's Desk for 
an airing. Perhaps you may have given 
them notice before, but I do not recol¬ 
lect seeing it. a. a. a. 
New York. 
Perkins & Co. are asking farmers and 
others to gamble in German marks and 
other foreign money. As usual these 
dangerous schemes are presented in a 
very alluring way and strong appeal 
made to the cupidity of human nature by 
presenting large possible profits. We 
unhesitatingly advise against participat¬ 
ing in gambles of this sort. 
I greatly appreciate the paper in gen¬ 
eral. but the articles on “Primer of Eco¬ 
nomics” in the last few editions are to 
me the master stroke, and fully-cover a 
wonderful amount of knowledge upon 
those subjects. To me they are worth 
more than 10 years’ subscription price of 
the paper. E. L. V. A. 
New York. 
It is encouraging to know that out- 
farm people, many of whom have made 
little or no study of economics, readily 
grasp the principles of political economy 
and. as some say. read it with more in¬ 
terest than they read fiction. It is a 
subject not heretofore attempted in a 
farm paper, but the general interest in 
the subjects fully justifies our conviction 
that our readers are ready for economic 
subjects, and many, we believe, will pursue 
the subjects beyond the elementary limits 
of our present discussions. Farmers have 
studied and mastered production. Their 
problem now is to secure for themselves 
a fair share of the fruits of production 
These studies are intended to open th • 
way to the solution of that problem. 
Farmers in the vicinity of Rising Sun. 
Md., report a recent experience with 
proposed produce exchange that was to 
operate only for members who paid $25 
each for membership. The produce was 
to be gathered by truck. A local man was 
engaged as truck driver and a $300 de¬ 
posit was demanded from him as secur¬ 
ity for good conduct. No oue thought 
to exact 9 guarantee of the promoter 
whose name is given as Preston A. Young. 
It is said that $500 was paid in as dues 
in the neighborhood before news came 
that the exchange was in financial trouble 
in Philadelphia and that the promoter 
was working other neighborhoods on the 
membership scheme. Organizations and 
exchanges of farmers by promoters for 
schemes is a pretty good thing to let alone. 
Organizations by farmers themselves are 
quite another proposition. Don’t let the 
strangers get the money. 
Senator John B. Mullau has introduced 
a bill at Albany for the enaction of a Se¬ 
curities Daw. providing for the licensing 
of brokers and dealers in securities by the 
Secretary of State; for the filing of state¬ 
ments prerequisite to sale of certain cor¬ 
porate stock or bonds, also for the filing of 
certain promoting and underwriting agree¬ 
ments, including information in detail re¬ 
lating to mining and oil properties, and 
imposing drastic requirements as to pros¬ 
pectuses and advertisements relating to 
the sale of such securities. This is a 
much needed Blue Sky Law. and we hope 
it will have the support of the people and 
become a law. Action is needed to keen 
this class of speculators out of the State 
and country, and if enacted it will save 
millions to the people. 
Susie; “Bobby, your face is awful 
dirty.” Bobby: “Yes. I know it is. My 
aunt is cornin’ this afternoon an’ I don’t 
want her t’ ask me t’ kiss her.”—Credit 
Lost. 
February 20, 1021 
Insure Your Farm 
Profits Now 
Your profits, or losses, are the difference between 
the cost of operating your farm and the price you 
get for your products—nothing more or less. 
Whatever the year’s market value of your crops 
may be, you can make your profit larger by 
lowering the cost of production. 
Wouldn’t you like to save a Wouldn’t you like to have 
large share of labor, horse 
maintenance and time that 
represent a large part of 
your present cost? 
Wouldn’t you like to be 
raising profit-paying prod¬ 
ucts on the acres which you 
must use in raising feed for 
your horses? 
Wouldn’t you like to have 
fewer chores—do the neces¬ 
sary ones quicker and make 
life more worth while? 
convenient, at all times, 
portable belt power for the 
numerous power jobs around 
your farm? 
You can do all of these 
things and add to your profit 
and pleasure by using 
Samson Power Farming. 
Thousands of Samson Model 
“M” Tractor users who 
made money last year can 
prove this truth. What they 
have done you can do. 
Begin now—it’s up to you. 
Write Today —Get 
the Benefit of This 
Experience 
PTfe have been in close touch 
with thousands of Samson 
farmers—we know how and 
why they made money last 
year—and will gladly gipe 
you this information. Drop 
us a postal card today—there 
is no obligation. 
SAMSON TRACTOR CO., 512 Industrial Avenue, Janesville, Wis. 
Division of General Motors Corporation 
Manufacturers of Tractors, Trucks, Power and Horse-Drawn Implements 
trade mark registered u.s. patent office 
Upward 
JbneAlcwn . 
FULLY 
GUARANTEED 
CREAM 
SEPARATOR 
A Solid Proposition to send new, well 
made, easy runniner. perfect skimming 
separator for $24.95. Skims warm or 
cold milk; heavy or light cream. Dif¬ 
ferent from picture, which shows lar¬ 
ger capacity machines. See our plan of 
MONTHLY PAYMENTS 
Bowl asanitarymarveleasily cleaned. 
Whether dairy is large or small, write 
for free catalog and monthly payment 
plan. Western orders filled from 
■western points. 
AMERICAN SEPARATOR CO. 
Box 4075 Bainbridge, N. Y. 
RUNLITE Cultivator 
SILOS at HALF PRICE 
My Winter Sale of Silos is now 
on. I will allow a discount of 
50% on all silos sold this month. 
My silos are of a well-known 
make, all new and first-class in 
every way. Built of the genuine 
Clear Oregon Fir, the most 
durable material used for silos. 
Your neighbor probably bought 
one from me last year. Ask 
him how he likes it and how 
much he saved. 
M. L. SMITH, mfrs. act, 
113 Flood Building 
MEADYILLE PENNSYLVANIA 
Delivered anywhere 
iu the United States 
Light running, strong and durable, teeth 
oscillate, relieving strain, making perfect 
dust” mulch. Increase yield, improve 
quality of Fruit, Flowers or Vegetables. 
Complete with handle. At Hardware 
Dealers, Seed Stores or from the factory. 
Unqualifiedly guaranteed. 
CIRCULARS ON REOUEST 
Runlite Company, Ithaca, n. y. 
The THRESHING PROBLEM 
Threshes cowpeas and soybeans 
from the mown vines, wheat, 
oats, rye amf barley. A perfect 
combination machine. Nothing like it. "The 
have been looking for for 20 
F. Massey. "It will meet every 
demand.” FI. A. Morgan. Director Tenn. Exp. 
Station. Booklet 30 free. 
f linger Pea & Bean Thresher Co..Morristown,Tenn. 
SOLVED 
machine I 
years.” W. 
Green Mountain 
AGENTS WANTED 
Active, reliable, on salary, to take 
subscriptions for Rural New-Yorker 
in New York State. Prefer men 
who have horse or auto. Address : 
t I7re Rural New-Yorker 
333 W. 30tt» Street, New York City 
