Mower County Transcript

LONDON BLACKMAILERS.

How American Capitalists Are Bled by the Vampires of Commerce.

There has recently come to the knowledge of American capitalists and promoters the fact that there is a systematic and carefully-planned bureau of blackmail in London, the workings of which are concealed from the public, but which has proven a thorn in the side of numerous American enterprises. As far as known the head of the bureau is a man who moves in fair business and social circles in London, and has a "string" in two or three newspaper offices, including a "financial" paper. He has a number of correspondents on this side of the water, where he formerly lived for a number of years. They keep him posted as to Americans who go abroad to raise money for the promotion of enterprises of various kinds. The minutest details of these enterprises are ascertained by these correspondents, in order to find any possible flaws. On the arrival of an American in London to present to bankers there any scheme of financial operations, he is called upon by this head of the bureau, who delicately proffers his services. If these are accepted and terms agreed upon sufficiently exorbitant, all goes well. If not, the unfortunate American finds his project assailed vituperously in a portion of the press, and attacked in a circle where the blackmailers move. Often he turns about and comes home disgusted, realizing how hopeless it is to fight away from home. If he shows battle, he may expect to be bled by lawyers. If he buys peace, as he can, a perfect army of smaller blackmailers spring up to "strike" him. His best course is to ignore them all, of course.

But few men have the courage to do that. A shrewd American promoter, who told these things from experience, added this advice: The best way to be rid of the vampires is to keep yourself and your project a secret. If you go to London to raise money go to an obscure hotel and take lodgings. Keep away from the clubs and exchanges. Deal only with the bankers. Give them the fullest opportunity of investigation. When you get your money come away as secretly as you went. I got $95000 in London once and had a bogus suit brought to enjoin me from carrying it out of the country until I should have settled a commission I had never dreamed of contracting." —N. Y. Letter.