Press: 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...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!