Exclusive Offices for Lady Speculators.
Chicago—225 Dearborn street, National Life Building, 16 Imperial Building, 51 Dexter Building, 84 Adams street, South Chicago—9138 Commercial avenue.
Mr. Sullivan had his correspondents and solicitors in all of the leading stock, bond, grain and cotton markets of most of the foreign countries. On May 23, 1903, he was doing a business of from $300,000 to $500,000 per year. His weekly expenses ran from $15,000 to $20,000.
Mr. Sullivan advertised extensively in the leading newspapers throughout the United States and in foreign countries. Many of his advertisements would cover an entire page. These advertisements brought him many inquiries from persons either through curiosity or desire to invest, saying nothing of the cash customers secured.
SULLIVAN'S
RED LETTER TIPS
Mr. Sullivan made special effort to buy or acquire every mailing list to be found in the entire country which had been used by other fraudulent and get-rich-quick concerns.
It is said that he had secured over 20,000 names, which he had on his mailing list. These men were bombarded from day to day with his literature and his red-letters, giving the forecast of the market. These letters were very ingeniously gotten up by himself and a clairvoyant fortune teller named Madame Dunbar.
His methods were absolutely devoid of even a pretense of sound business ethics, sensationalism and red ink being his only stock in trade.
The class of literature and telegrams he sent broadcast and regardless of expense is well illustrated by the following:
Telegram sent January 1, 1903, to hundreds of persons throughout the country:
"Am going to run three-cent turn in May wheat. Let me act for you heavy. I will take loss if any. Mail three-cent margin.
George T. Sullivan."
In his "Red Letter" of May 18 he makes the following statement:
"There is only one thong about this wheat, and that is, a bull market is at hand; and those who buy cannot lose, and if they buy on my advice and buy quickly, I will pay the loss if there should be any."
He had four offices in Chicago aside from his main office, these being designated by him as "Exclusive Offices for Lady Speculators." When about to open one of these offices he addressed a circular letter to the wives of many prominent citizens announcing the opening of same. The first paragraph of this letter reads as follows:
"I have opened superbly appointed offices on the ground floor of the National Life Building, Room 120, where I accept accounts from ladies of $100 or upwards for marginal speculation in stocks, bonds, grain and cotton.
"George T. Sullivan."
George T. Sullivan, who frequently signs himself "Red Letter Sullivan," is by occupation a telegraph operator. He was first heard of in Boston during the year 1899 and the early part of 1900.