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Summoned citizens to purchase stock


fraudulent scheme Click on the MEDIA ITEMS below for more information

   



SUMMONED CITIZENS TO PURCHASE STOCK

Scheme, Which Smacked of Effrontery, Not Relished by Several Hundred Who Responded

Several hundred people of this city and vicinity were attracted to an upstairs office in the Law Building, South Liberty street, Wednesday and today, after having received a mysterious letter of summons which they did not understand the purpose or meaning.

The summons proved to be a stock selling scheme in a patent shoe lace tip, protected by a concern of Boston. Indignation and disfavor has resulted.

The procedure was reported to the Cumberland Chamber of Commerce by a well-established investment company representative, resulting in an investigation by Secretary Franklin H. Ankeney, who considered the scheme misleading. Mr. Ankeney stated that the representatives have only a circular, a card and a sample of the shoe lace to show as credentials, which he considers insufficient proof of a bona fide concern.

Professional and business men were included in the many summons which stated that the writer “would like to see you on a matter of importance.”

Some of the recipients of the letters deferred planned trips in order to learn what the “important matter” was. One of the recipients is deprived of his sight and had held out hopes that the summons pertained to his physical benefit.




ID:
accu013

Creator:
Cumberland Times

Date:
1921-02-05

Collection Location:
Allegany College of Maryland

Subject:
Cumberland (Md.) press coverage; Cumberland (Md.) Chamber of Commerce

Coverage:
Cumberland (Md.), 1920-1930

 
 
Western Maryland Regional Library
100 South Potomac Street
Hagerstown, Maryland 21740

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