"Like Pig Iron"

"We used the same methods and psychology as a salesman uses who, for example, sells pig iron. We want to know everything possible about a prospective customer before calling on him and trying to interest him in our stock."

Thus a glib young man named Robert H. Sommer explained last week to a New York Deputy Attorney General how a card index was helpful to him in selling stock in Town Topics, "society" gossip sheet. The "prospect" cards, 200 of them, were taken in a raid on the Town Topics offices by State agents who also raided Tatler & American Sketch to investigate its stock-selling tactics (TIME, Dec. 21). Samples:

"Bridge expert; has affair with sister of brother's wife; age 18; wife left him several times; last time two months ago; wealthy."

"Wife in distress; suing _____ for nonsupport of child; he supporting other girls; phoned he will take five shares; received check for $550; says he will take five or more in the fall. . . ."

"Most interesting society woman; fearful tantrums; Plaza incident: Mr. _____ and sweetheart at one door, Mrs. ______ and sweetheart at another; clever chauffeur."

"Married his former woman, a Broadway chorus girl; very hard to get to; very hardboiled."

"Love affairs with chauffeur and footman; son married second chambermaid."

"Wife of _____ she will divorce him in due time; had practically agreed to marry ______ of ______ but seems to have taken up with a Mr. ______ who is worth $12,000,000."

"Saw and heard him speak to two ladies at the Metropolitan Opera Wednesday evening; Peter Ibbetson; age, 73; proposed once in his lifetime and was rejected; lady and he still friends; gave $100,000 to ______ College."

On one card it was noted that the prospect had received a "slam by Tatler." Within a fortnight after the appearance of the "slam" in the other magazine, Town Topics sold the subject 15 shares at $110 each.*

Of a dozen stockholders in Town Topics interviewed by the investigators, one, a "prominent business man," was quoted as describing how a Town Topics salesman called on him while he was in the midst of marital difficulties and sold him ten shares.

Q.--You didn't buy the stock just because you thought it was a good investment?

A.--I bought it because I knew I was "on a spot."

*Tatler & American Sketch last week denied it had given a debutante a rating of "E-Z" after her father had declined to buy Tatler stock. It also denied that Tatler stock salesmen, after "selling" a new prospect, turn the information over to solicitors for pseudo press associations (TIME, Dec. 21). Investigation shows, however, that in at least one case a Town Topics salesman opened the door to a procession of other solicitors, at the end of which came the man from Tatler.

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