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Home > Scandals and Swindlers
  • Scandals and Swindlers

    With a western frontier unknown, both dignified and disreputable opportunists made their way to the forefront. Get to know the nefarious schemers, scandalous circumstances, and unfortunate victims who surfaced amongst malice, mayhem, and ill-timing.

Table of Contents:

  • Embezzlement and the Nevada Highway
  • William Walker’s Rise and Demise in South America
  • Generalisimo Santa Anna Attempts a Coup
  • George Graham Rice: The Jackal of Wall Street
  • Embezzlement and the Nevada Highway

    Headline “Half million shortage in treasury of Nevada is followed by arrest of Cole, Malley, and Clapp” and map of NV highway

    As the State of Nevada sold bonds to finance the construction of new parts of the highway system in the 1920s, the state government and local banks became embroiled in scandal. A group of men had embezzled from the State Treasury to try to make fortunes by investing in mining stocks, only to lose everything.

    Read more about Embezzlement and the Nevada Highway

    Left Image: Front page headlines, May 1927, with the announcement of the embezzlement and arrest of Malley, Cole, and Clapp. Governor Balzar and George Wingfield also issued statements to the newspapers as damage control; courtesy Newspaper Archive [1]. Right Image: Highway map of the state of Nevada, 1929, showing the location of routes 5 & 6 in southern Nevada connecting the still fledgling city of Las Vegas to Goldfield and nearby communities; courtesy of the Mary B. Ansari Map Library, University of Nevada, Reno [2].

  • William Walker’s Rise and Demise in South America

    Map of regions of Nicaragua and magazine cartoon “filibustering with Walker” showing men shooting a cannon at a ship

    As America expanded, filibuster William Walker led a military campaign to take over the country of Nicaragua with plans to annex the territory as a slave state in support of the southern cause. In the process he made an enemy of Cornelius Vanderbilt and British colonial forces.

    Read more about William Walker’s Rise and Demise in South America

    Left Image: A map of Nicaragua from 1856, as surveyed during Walker’s control of the country; his name appears beneath the title; courtesy Library of Congress [3]. Right Image: “Filibustering with Walker,” Walker’s filibusters shoot a cannon from their ship; courtesy Wikimedia Commons [4].

  • Generalisimo Santa Anna Attempts a Coup

    Painting of the scene of Santa Anna’s surrender to a wounded Sam Houston, and a portrait of Santa Anna in military dress

    Santa Anna, famed Mexican military commander of the Battle of the Alamo, led a troubled political career as President of Mexico. While living in exile later in his life, scam artists convinced him the American government would back his military conquests to retake the Mexican presidency.

    Read more about Generalisimo Santa Anna Attempts a Coup

    Left Image: The surrender of General Santa Anna to Sam Houston at the battle of San Jacinto; author William Henry Huddle courtesy of Wikimedia Commons [5]. Right Image: General Antonio Lopez de Santa Anna, President of the Republic of Mexico, 1847; courtesy Library of Congress [6].

  • George Graham Rice: The Jackal of Wall Street

    Left: Newspaper headline speaks of fed complaint against Rice; Right: Pile of money

    George Graham Rice was an interesting figure in the mining history of Nevada. After operating scams based on western mining stocks, he wrote the boldly titled book My Adventures With Your Money while imprisoned for mail fraud.

    Read more about George Graham Rice: The Jackal of Wall Street

    Left Image: Headlines from G.G. Rice’s imprisonment on the charge of mail fraud for using the postal service in his stock schemes, 1910; courtesy Newspaper Archive [7].

Related Bonds

Certificate with black ink shows intricate borders, lettering, and vignettes with Native Americans-one with a bow, a train, and flora

The Tombstone Mill and Mining Company

Certificate with blue and black ink shows intricate bordering, lettering, Treasurer’s seal, and vignettes with a train, bridge, building and plow

State of Nevada Highway Bond

Certificate with black, blue, and orange ink shows intricate bordering, lettering, a company seal, signatures and a vignette of an eagle

The Rice Oil Company

Certificate with black and green ink shows intricate bordering, lettering, a company seal, signatures and a vignette of men on horses with cattle

The International and Great Northern Railroad Company

Certificate with black ink shows intricate borders, lettering, signatures, a company seal, and vignettes of miners, mining carts, and gold panning

Rawhide Bighorn Mining Company

Certificate with blue and black ink shows intricate bordering, lettering, seals, signatures, and vignettes of a Roman god and men

The Providence Securities Company

Certificate with blue and black ink shows intricate borders, lettering, signatures, a company seal, an IRS stamp, and a plant and ribbon vignette

Alabama Gold and Copper Mining Company

Certificate with black ink shows intricate borders, lettering, signatures, and vignettes of an eagle, ship, city, and train

Republic of Nicaragua

Certificate with black, green, and orange ink shows intricate bordering, lettering, a seal, signatures, and vignettes of a portrait and estates

United States of America First Mortgage Bond

Related Stories

  • George Rogers Clark, Father of Louisville Full Story

  • The Sutro Tunnel: Capitalism at Its Finest Full Story

  • Tombstone, Arizona: the Ungoverned West Full Story

  • John C. Frémont: General, Explorer, and Entrepreneur Full Story

Sources

  1. Left Image: Half million shortage in treasury of Nevada is followed by arrest of Cole, Malley, and Clapp [article]. (May 7, 1927). Reno Evening Gazette, pp. 1. Via NewspaperArchive.com. Retrieved from https://access-newspaperarchive-com.unr.idm.oclc.org/us/nevada/reno/reno-evening-gazette/1927/05-07
  2. Right Image: Durkee, S.C. (1929). Highway map of the state of Nevada (1929) [map]. Nevada: State of Nevada Department of Highways. Public Domain from the Mary B. Ansari Map Library, University of Nevada, Reno. Retrieved from http://contentdm.library.unr.edu/cdm/ref/collection/hmaps/id/568
  3. Left Image: Government Map of Nicaragua [map]. (June 10, 1856). New York: A.H. Jocelyn. Public Domain from the Library of Congress. Retrieved from https://www.loc.gov/item/2004629018/
  4. Right Image: Filibustering with Walker [illustration]. (January 16, 1910). Public Domain from the San Francisco Chronicle via Wikimedia Commons. Retrieved from https://commons.wikimedia.org/wiki/File%3ADas_Seegefecht_vor_San_Juan_del_Sur_ams_23._November_1856._Die_Explosion_an_Bord_der_ONCE_DE_ABRIL.jpg
  5. Left Image: Huddle, W.H. (1886). Surrender of Santa Anna [painting]. Public Domain from Wikimedia Commons. Retrieved from https://commons.wikimedia.org/wiki/File:SantaAnnaSurrender.jpg
  6. Right Image: Hoffy, A. (1847). General D. Antonio Lopez De Santa-Anna [illustration]. Philadelphia: A. Hoffy and Johnson & Brocket. Public Domain from Library of Congress. Retrieved from https://www.loc.gov/item/2004669619/
  7. Left Image: Offices of Graham Rice are raided: use of mails to defraud is charge [article]. (September 29, 1910). Reno Evening Gazette, pp. 1. Via NewspaperArchive.com. Retrieved from https://access-newspaperarchive-com.unr.idm.oclc.org/us/nevada/reno/reno-evening-gazette/1910/09-29
  8. 1916–1917 Stock Market lesson [advertisement]. (December 31, 1916). Boston Sunday Post, pp. 11. Via NewspaperArchive.com. Retrieved from https://access-newspaperarchive-com.unr.idm.oclc.org/us/massachusetts/boston/boston-sunday-post/1916/12-31/page-11
  9. Follow me into oil [advertisement]. (January 13, 1918). The Ogden Examiner, pp. 55. Via NewspaperArchive.com. Retrieved from https://access-newspaperarchive-com.unr.idm.oclc.org/us/utah/ogden/ogden-examiner/1918/01-13/page-55
  10. Marschall, J.P. (2008). Jews in Nevada: A History. Reno and Las Vegas: University of Nevada Press.
  11. O’Brien, J.F. (February 12, 1920). George Graham Rice goes to jail for fourth time in his career. Reno Evening Gazette, pp. 3. Via NewspaperArchive.com. Retrieved from https://access-newspaperarchive-com.unr.idm.oclc.org/us/nevada/reno/reno-evening-gazette/1920/02-12/page-3
  12. Raymond, E. (1992). George Wingfield: Owner and Operator of Nevada. Reno and Las Vegas: University of Nevada Press.
  13. Rice, G.G. (1986). My Adventures With Your Money. Las Vegas: Nevada Publications.
  14. Supreme Court Case on Appeal: The People of the State of New York against George Graham Rice. (July 1918). New York City: Press of Fremont Payne, Inc. Retrieved from https://books.google.com/books?id=ayKkrsPRZTMC&pg=PP5#v=onepage&q&f=false
  15. Thorton, T.D. (2015). My Adventures with Your Money: George Graham Rice and the Golden Age of the Con Artist. New York: St. Martin’s Press. Retrieved from https://books.google.com/books?id=8zUXCAAAQBAJ&lpg=PP1&pg=PP1#v=onepage&q&f=false
  16. The worst scams from Wall Street’s wildest days. (November 24, 2015). Forbes. Retrieved from https://www.forbes.com/sites/steveschaefer/2015/11/24/wall-street-scams-roaring-twenties/#656924cf56eb
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Story Themes

  • Art of the Bond
  • Backing the Republic of Texas
  • Bankrolling the Revolutionary and Civil Wars
  • Forging the Wild West
  • Nevada’s Promises and Perils
  • Railroads and Trade Routes
  • Scandals and Swindlers
  • Tycoons and Benefactors

Resources

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