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Life, 1921-09-08 · page 30 of 36

Life — September 8, 1921 — page 30: what you’re looking at

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Life — September 8, 1921 — page 30: Life, 1921-09-08

What you’re looking at

This page presents a serialized story about **Tom Lachford, a stock promoter**, satirizing early 20th-century financial fraud and the "get-rich-quick" schemes that victimized ordinary Americans. **The Setup:** Tom arranges incorporation of a worthless palladium deposit, securing $30,000 from a banker by projecting confidence and acquiring bulk machinery—which serves no purpose except to look legitimate to investors. **The Conflict:** Seth (Tom's brother) discovers the assayer's report shows the deposit is worthless. Despite facing financial ruin, Seth refuses to defraud "people of your church"—the local community who would buy shares. He won't become a thief. **The Satire:** The joke targets both Tom's cynical amorality ("They can sell again if they're quick enough") and the ease with which financial con men manipulate bankers and investors through performative legitimacy—machinery, incorporation papers, and smooth talk replacing actual value. The story critiques the era's loosely-regulated securities markets and the moral bankruptcy of promoters who enriched themselves at ordinary people's expense.

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Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.

Tom Lachford, Promoter “Mr. Beanhead,” he said, “my brother and I have made a find of igniferous pal- ladium. It runs at least 48 per cent to the kilowatt and we want to raise money for incorporation and material.” “Mr. Lachford,” said the banker, “I congratulate you on your discovery. I recognize in you one of those wide sioned, ‘broad-sighted, frog-eyed men that make this country what it is. How much money do you want?” “Ten thousand dollars,” said Tom. v ‘HAT evening when Tom came home he told Seth and Min that he had ar- ranged the incorporation at thirty thou- sand dollars and was going to order ten thousand dollars’ worth of machinery. “What machinery? ked his brother. “Any machinery,” said the promoter, “it doesn’t matter: as long as it’s bulky.” “The mere assemblage and erection of machinery,” added Min thoughtfully as she helped the brothers to fried eggplant, “conveys to the investor a guarantee of bona fides.” But after supper Seth Lachford went to the kitchen dresser and he took out of it the assayer’s report upon the dirt, that lay in an envelope unopened. He ripped open the envelope and for a long while stood looking at the document with a frown upon his face. “Ill not sell stuff like that,” he muttered. “No, sir, Pll go broke before I'll sell it.” Then he went out in the gathering dusk and walked among the piles of dirt, kicking it with his feet and picking it up in his hands. When Seth Lachford came back to the kitchen where Tom and Min sat shucking butternuts there was resolution in his face. “Tom,” he said, “when you sell out this company what do you expect to get?” y. i\ (Continued from page 17) ‘Tom looked up, stopping shucking. “Thirty thousand dollars at par,” he said. “Ten thousand each for you and me and Min: perhaps a lot more.” “You'll sell it to people here in town?” “Easy,” said Tom. “There are enough suckers right here to buy it all.” “And what do they get?” “That’s their lookout,” shrugged Tom. “They can sell again if they're quick enough.” “But sooner or later?” “Oh, sooner or later someone stung. But it’s not going to be us.” Seth sat silent a while. ‘And if we let go of it now,” he asked, “where are we?” “We owe the bank $15,000, and we're ruined.” Seth looked Tom right in the face. D namie as he was, the younger Lachford’s face fell. “See here, Tom,” evolved Seth slowly, “PIL not sell those shares.” The brothe! looking at each other, their faces working. “If you don’t,” said ‘Tom, “it’s ruin.” “PI meet it,” said Seth, his face still working. “If you do,” said Tom, his face stopping working, “you'll meet it in the peniten- tiary.” “Tom,” gets said Seth, “there’s been Lach- fords on this place for four generations, and never a thief among them.” wy OR two weeks after that the work at the palladium deposits went on, and the Lachfords walked around the plant, avoiding each other—Tom keen and rest- less, Seth moody, his eyes ever on the dirt. Only once ‘Tom spoke to Seth. “The brokers have placed the first lot of my shares at par,” he said, “and they can sell more, they say. They can’t list them but they'll sell them on the curb. your shares now a them and get out. Seth turned on his heel and, without a word, went to the house. He called his wife aside. He took out the assayer’s paper, opened it, and spread it out before her. “Tom says he'll sell your shares for ten thousand dollars, Min. ‘Are you going to sell off that stuff,” and he tapped the paper fiercely, “to your friends and neighbors, people of Your own town?” Min looked at the document. The chemical analysis was beyond her grasp, but the single item at the bottom, mated commercial value,” was }) enough even for a child. “No, Seth!” she said, “I can’t do it. It ain't right.” “Look, Min,” Seth went on, “I want my name to stand right in this town. If ‘Tom tries to sell out those shares, could you get ten thousand dollars from your folks and buy them?” “T might,” said Min, “I doubt Pa could raise it, but if you want it, Seth, I'll try. Give me id Min’s and we'll sell vu HE next day Min started off to her folks in Pennsylvania to raise ten thousand dollars, and on the same morn- ing the shares of Amalgamated Palladium Limited went on the local exchange as a curb security, and there was great ex- citement in financial circles in Smudge- ville. The shares opened at eighty, rose straight to par, reacted to fifty, sank down to twenty, lay there gasping and then jumped to par again in four hoy At 2 P. M. they were reported as restless; (Continued on page 81) EGYPTIAN DEITIES The Utmost in Cigarettes Plain End or Cork Tip “People of culture and refinement invariably “PREFER ‘Deities to any other cigarette | ACRUISEveLUXE | TO THE MEDITERRANEAN By the S.S. CARONIA of the CUNARD LINE Sailing from New York Jan. 28th, 1922—Duration 61 Days Strictly limited to 350 Guests, travelling as ona huge private yacht with the utmost comfort in staterooms and on decks. The Mtinerary includes visits to MADEIRA, SPAIN, GIBRALTAR, TANGIER, ALGL » MONTE CARLO, NICE EGYPT, PALESTINE, CON: }OPLE, ATHENS, ROME. Information and literature on request Exclusive Management THOS. COOK & SON New York Chicago Philadelphia Boston San Francisco _ Los Angeles Montreal ‘oronto ‘Vancouver 150 Offices throughout the World comicbooks.com