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A e MAKING AN EXAMPLE OF A CONSOLIDATED EXCHANGE BROKER. OF SUSPENSION OF THOMAS H. FISHER-RECOR L. HIS ADVERTISING AGENT. CHARLES TO WORK-THE POSTOFFICE ASKED SUPPRESS MAIL DESIGNED TO LURE DUPES. While the Governors of the Stock Exchange the best wrangling among themselves over business are of destroying the "arbitrage" speculahelps to keep up the Stock the directors of the on means tion. which Consolidated movement war of and the Exchange have begun a hurt methods which tend to bucketshop Petroleum The Postoffice legiti- mail Wall Street speculation. the mate authorities have been asked to suppress concern having circulated by No. Fisher 18 Broadway. & Co., a and Thomas has been H. offices at nominal head of the firm. membership Fisher. the for six months from his the first case suspended in the Consolidated Exchange. It is conduct detriof suspension the on best the interests ground of of the Exchange has to occurred in the history of that will which It is the beginning of steps the tion. mental the assistance of the institu- Na- be taken. perhaps with the swindling authorities. to prevent the who are wholly ignorant of doing business in Wall tional people Street. of Consoli- system of Fisher, the suspended member of the He was Exchange, came from Indiana. December 4. 1893. dated to the Exchange on declared were good. and he admitted references estate amount- that a capital in cash and real had to $18,000. L. J. Werner, he His $16,000 chairman the Exing from Clearing House Committee of advertiseof the heard of Fisher's flamboyant and laid the change. in out-of-town newspapers. When summoned ments before President Wilson. responsicase matter Fisher threw the to explain upon the Charles L. Work, who. & he Co. said. From was bility agent of Fisher testimony taken say they by are satisfied that the advertising they the officers of that the Charles Fisher Exchange in the firm. and is is the real manager who L. only Work a "dummy" George Work. of the organized business which Work is the son of in Philadelphia. in May, 1890. penitentiary for victed account of to May years on management was failed the Bank and of sent America to the irregularities George Previous Work relating was treasurer con- four to 1. the bank's Charles L. Work. the son. of Philadelphia, of 1890. which the Asphalt was closely Block connected works Company in with Camden, the Bank N. 1890. J., of out sold of America, and by whose the Sheriff in December. the Glouceswere Young Work was also Bank. president at Gloucester. Camden and ter City National N. J., the home of planked went shad under in racetrack County, May. 1890. immorality Work and was Safe This also Deposit bank president Company 12, of 1890. the of Philadelphia. Fidelity Trust which suspended successful insolvency on May Work From this record management of of the business "com- of Fisher turned & to Co., the which was based number on stock of dupes binations." could put their into the money which usual on any the result promise of surrendering of fabulous profits. with for experience. capital The contract in exchange scheme which was of Fisher signed and by Work the tells sub- the for scribers to the Street vacuums eloquently conducted. Comstory coining of a Wall display the business caption which of followed: "Special they Stock dollars Under bination" this agreement you "Herewith applied I in beg Combination to inclose discretion No. both the work- as to ing to be of which selling is left to or your agreements. amount, My liability while strictly limited to the are absolutely I my is buying profits agree profits accruing and to allow as your to you Fisher remuneration.' me to deduct & above Co., were 10 per of cent unlimited. the most from this alluring kind, one of ever studied the proposition: The circulars "Have of you them fortunes? starting The with Vander- source Gould of the largest American $150,000,000. the bilt $100,000,000. $200,000,000. and the in Rockefeller the fact Astor each $100,000,000. of the 4,500 of their the American Drexel millionaires Wall Street. $75,000,000. accumulated source- the bulk could Without have hold- such been can ings a centre at one none of The these circular fortunes then says: union "We there is strength. assist accumulated." you to "profits make a certain. fortune," out "losses "in that almost "a profit impossible." etc. It is times a day is equal to of 1/8 per a cent month." and the seductive Then try per cent "Have you never One of the put: small four sum." pointed speculated? question concern's your 150 is hand circular "Dear with letters Sir: a In reads answer as are follows: to of a interest number to of all letters our asking correspondents. questions we which take this opportunity of explaining our plans: is: How can we divide "The first question greater than ordinary interest profits so This much question is not asked by Should any rates? familiar with speculation. heads would cent. win. you one who a is penny and bet $10 that 100 per flip you would have made even money and win, bet $10 on a horse at per cent. Should you you would have made 100 stock and win, 10 shares of railroad Should you cent margin. and it went up a raise a 1 per buy Now one point. (sic) oc- on would make 100 per cent. daily or you fall of 1 It per is cent rare, in indeed. a stock that is a broker a without who currence. is trading actively lets any one day If pass he was conmaking successful per cent on he one would stock. be a Vanderbilt 300 in a year. stantly We frequently make 100 to selves? per cent "Why cent do in We one we are operation. not not keep clams; all we the us. are profits willing our- You to furnish divide with your those share of who cent the help capital: of your profits; we do you the work. We take 10 per 90 cent. Can you complain? get per circular asserts that the "combination" cent. This divided on February 15 were 15 per January making profits 48 per cent that was paid significant since parIn one of the circulars is this possessed 1. that unfortunately probably invested little agraph significance to the victims who busi- in "We do not desire the the not fully able to stand a if such unfortunately occur." ness combination: of those Fisher slight loss. Advertisements have been printed Philadelphia, by leading newspapers in & Washington, Chicago, of the An idea of the conducted by the may be found from the operations schemers Indianapolis, and Co. St. in Louis. "combination" extent fact Cleveland that Co. inas to the standing of Fisher & quiries of the Consolihave been coming to the officers as dated Exchange from places as far apart Corsicana, Texas, and Norfolk, Va.
