Stocks Force Wealthy Farmer into Bankruptcy, Says Editor, Dec. 24, 1925

A Wayne county farmer has filed a petition in bankruptcy. Once he was one of the richest men in his county, but he lost more than $300,000 buying blue sky stock. He believed the oily tongued salesman who told him that the stock would make him rich beyond his dreams; he swallowed this bunk “hook, line and sinker” and now he’s sunk. He forgot to ask the salesman how much of the stock he had bought personally and why he wasn’t rich; why, if the stock was such a gold mine, the owners of the company didn’t keep it themselves; how they could personally guarantee the fabulous riches they promised. If he had thought of some of these questions he probably would have most of the three hundred thousand now.

From the editorial page of The Courier, Asheboro, N.C., Thursday, Dec. 24, 1925, Wm. C. Hammer, Editor.

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