Shares

A curious financial operation is under way in New York's Italian quarter. The metropolis has witnessed quite a variety of surprising share-vending projects, but this one exceeds all others in singularity.

Angelo Raggini has until recently been a clerk in the office of Mayor Hylan of New York. He has always been inclined to singing, and had achieved some small local reputation in the Italian colony. Three years ago, a voice teacher chanced to hear the youth and caught the sound of great vocal promise. Thereupon operatic ambitions arose in Raggini. He studied and made progress. But soon the time came for him to go to Italy for further training. He could not go; his relatives lacked funds.

The restless fellow looked around for a way to finance his trip. In the Italian quarter prize fighting was in vogue. Many lads from the rough neighborhood were earning comfortable purses. Raggini dreamed that he would become a paladin of the ring and gather enough money to finance his studies, would fight his way with his fists to Parnassus. He practiced boxing and embarked upon a pugilistic career. But his throat was better than his knuckles. Instead of the pugilistic reputation that would have got him large pay, he encountered mostly hard punchings. His own blows were weak, his opponents' blows painful. He decided that the prize ring was no mine of gold.

Then he gained his post in the Mayor's office. The salary was moderate. The prices of the singing lessons that he continued to take were high and he had to support a mother and several younger children. His ambition increased. He met Lauri-Volpi, Metropolitan Opera Company tenor. This artist gave him intoxicating phrases of encouragement. But what was there for him to do when he had no money?

The notables of the Italian colony determined that young Raggini must be aided. They consulted with him and a plan was evolved. They would sell shares in his career. They would manage the flotation of an issue of $10,000-400 certificates at $25 each. These he would redeem and on them pay 6% interest when success and wealth had come upon him. Lauri-Volpi bought shares totaling $200; the Sons of Italy, shares worth $400. Humble subscribers are buying up the remainder of the issue in small blocks.