Norfleet: the actual experiences of a Texas rancher's 30,000-mile transcontinental chase after five confidence men. Page: 23 of 369
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NOR F LEET
proached him in regard to the matter. Spencer said his
father was a big mill and elevator man, and due to this
association he was familiar with the brokerage business;
that he was willing for Stetson to use his name in connection
with mine in the purchase and selling of stock.
I told them both that I had no money.
Stetson said no money was required; that we could
use his membership card in the United Brokers which
was backed by his hundred thousand dollar bond and
was good for credit to that extent. Stetson said that he
would take me over to the Stock Exchange and show me
the proper procedure in buying and selling; how to use
the card and transact business in the Exchange.
I accompanied him and he took me all through the
building, showing me the different offices, etc. We stopped
at a window where he explained bids were to be
submitted and money accepted.
A man walked up to us and asked me if I were a
member of the Exchange. I told him I was not.
"I am very sorry to do so, but I shall be forced to
invite you outside as members only are allowed here,"
I left the building immediately. Stetson remained.
Stetson, Spencer and I reached Stetson's room about
the same time. I told Stetson I did not care to use his
card or have anything else to do with the matter and
would drop out.
Spencer spoke up, saying he understood the business
and would do all placing of bids and selling, and I
need have nothing to do with the deal except in a financial
way, to which I agreed.
At this point in the conversation Stetson asked me
if I would like him to invest the $800.00, which he had
earned for me on the Exchange the previous day. I
agreed to his proposal and Stetson wrote out a bid, my
portion of which was covered by the $800.00, and
Spencer returned to the Exchange.
All future bids which Stetson wrote, Spencer would
Here’s what’s next.
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Norfleet, J. Frank, 1864-. Norfleet: the actual experiences of a Texas rancher's 30,000-mile transcontinental chase after five confidence men., book, 1924; Ft. Worth, Texas. (texashistory.unt.edu/ark:/67531/metapth5864/m1/23/: accessed May 30, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .