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 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.