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Page: of 90
cuses for their methods of promotion. Of course the
ground floor people, in these instances, received their
stock at one-half price.
STOCK BUYER AND MAKER
COMPARED.
F A MAN purchases a mining claim for
$1,000, stocks it for $500,000, or issues
500,000 shares of the par value of $1
each, and you pay 25 cents for one of
these shares, what is the basic value
behind your share of stock? If, on the
other hand, he should purchase the
property for $1,000, stock it with 4,000 shares of the par
value of $1 each and then sell you stock at 25 cents per
share, you would be placing your money against a real
value and not against a fiat. In this case, your money,
Which has a legal tender value, would be placed against
an equal property or intrinsic value. In the first instance
it would be a case of “watered stock.” A promoter in
Cripple Creek recently over-capitalized a proposition and
placed it upon the market. A discerning gentleman who
received a copy of the Prospectus made this inquiry:
“What about your watered stock? Your method is
the tunnel method, but I prefer the shaft system, where
the water is in the shaft rather than in the stock.” .
_The promoter is always alert, and framed this inag
sciious reply: “Under the dawerak the State of ColoTado, passed at the special instance and request of the —
a Humane Society, a man is compelled to. water his
stock, Pe
The average pr. Ne average pr
terest in the
omoter rarely allows a controlling instock of a corporation of his own creation to
48