Federal Crackdown on Seattle Investment Scams
Federal authorities have blacklisted over fifty 'bond and investment' companies, including one in Seattle, prohibiting them from using the U.S. mail to conduct their business.
The story, cleaned up
A cleaned-up reading of the newspaper page: spelling and layout repaired, one story lifted off a crowded page. It follows the original closely but it is not a transcription. The original page is below; read it if a detail matters.
The United States postoffice authorities have determined to suppress the bond and investment companies which are operating all over the country. Postoffice Inspector Stuart received from Washington City today a list of over fifty concerns that are operating in much the same manner as the Guarantee Investment Company of Chicago. These companies have been pronounced by the assistant attorney for the postoffice department as not entitled to the privileges of the United States mail. Inspectors are instructed to notify postmasters not to deliver registered letters or money orders to the concerns. In the list of blacklisted concerns are the Utah Guarantee Investment Company of Seattle, four companies in Omaha, one in Denver, and one in Pueblo.
“Postoffice authorities have determined to suppress the bond and investment companies which are operating all over the country.”
Seattle’s history as a hub for 'get-rich-quick' schemes is as old as the city itself. This federal intervention highlights the long-standing efforts of postal inspectors to police the intersection of mail delivery and financial fraud.
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