SHARE-PUSHERS BUSY

Poverty Bay Herald, Volume LV, Issue 17440, 11 December 1930, Page 3

SHARE-PUSHERS BUSY

>4t>» 200 IN LONDON £1,000,000 FROM INVESTORS LONDON, October 22. During the last six months sharepushers and white-collar bandits have, il is estimated by competent authorities, J relieved British investors of upwards of ! £!l,GO0,O00, in exchange for worthless shares. i London, it is stated, has never been iso full nf American flpcll 'binder's ns ai j Ihe present I imc. They tire stiitl to number about 200 'and am working as canvassers and telephone persuaders—experts with honeyed I voices who delude (he unsophisticated to invest in shares of which no one has ever ; heard.

They are employed by I In'- "bin; shots in Ihe share-pushing business—American: who have begun business as what llie\ call outside brokers, though bucket-shop keepers would be a more exact term, HOME! OFFICE, PERMIT There are eight or nine ol tliese groups. Some are owners of so-called financial newspapers of the, description of the Stock Market Record, the Fin an

oinJ Telegraph, Finance, and so on, through the medium of which they get into touch with their victims, (libers run what, they call n "house journal," which is sent, to their "clients.''' Two of the most active groups, judging from (he correspondence reaching the press, arc associated with the financial telegraph and the Stock Market Record. The former is run by a share-pusher, who claims British nationality, while with the latter is associated a mail named Max 'Revenger, who was ordered out of the country in July last. His offence was a contravention of the alien regulations, but despite that a few weeks ago the Home Office granted him a. .special permit Lo return. Apparently, with the aid or his ja/.» salesmen and telephone persuaders, lie has turned that permit lo good advantage for himself. When he ie- entered the country in September tie gave- a

comparatively humble address in I'im lien, but to-day he frequents one of l!i< large luxury hotel,, in the West Lml.