Hence the utter impossibility of cooperation
in seeking to get back their savings.
As an example of the fiscal agent, there may be cited the concern
of Douglas, Lacey & Company, already mentioned, a concern which
in four years, through its operations in this country and in
Canada, culled from the people of this country, according to its
own statement, over $2,000,000 in exchange for stock certificates
in more than forty varieties of mining companies. Here is a
letter written to a woman by this concern four years after she
had invested all her savings in the stock of one of these
companies through this concern, showing the advantage of the
fiscal agency plan:
DOUGLAS, LACEY & CO.
Financial Agents
66 Broadway.
New York Cable Address "Douglacey"--Anglo-American and Bedford
McNeil Codes Telephone, 790 & 791 Rector
DEAR MADAM: June 2, 1908.
Replying to your favor of June 1st would say that we do not find
in our files any recent letter from you, and your letter
addressed care of 44 Wall Street has probably gone to the Dead
Letter Office, from which you will in time receive it.
Now, in reply to your question, we think if you are at all
familiar with business procedure, you will see that it would be
impossible for the fiscal agents of any of the companies to
return money which had been paid for shares and which had been
turned over by the fiscal agents to the treasury of the various
companies and expended in development work on the different
properties.
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