preview

Electrolytic Marine Salts Company Swot Analysis

Satisfactory Essays
Open Document

engIccCs2ALVS-13 : S2818383 : 4.3.13 : English 9 final draft EM Eric Martirossian Wed 7/22/2015 7:21 PM To: Danielle McHugh; CLASSROOM: English 9 Common Core Sem 2 (S2818383) [**8288797-1855324224**] ACTIVITY: 4.3.13 PRJ: Revision Strategies: Development, Part 3 POINTS POSSIBLE: 40 SCORE AWARDED: DUE DATE: 7/21/2015 In 1897, Prescott Ford Jernegan, along with his partner Charles Fisher, came to Lubec, Maine and informed its citizens he had an incredible invention. He claimed to own a machine that could extract gold from saltwater, which was everywhere, as Lubec is a coastal town. A number of investors, possibly in the thousands, donated money to the pair of con men and they established a company that they called the Electrolytic Marine Salts Company. Boxes were placed in the water and Fisher would dive underwater during the night and place small amounts of gold in each one, giving the illusion that they were working. Jernegan and Fisher fled on July 29, 1897, and Fisher was never heard from again. Jernegan eventually revealed himself and gave back some of the money he had stolen, though he was never prosecuted. …show more content…

Prescott and Charles both haf a machine that can extract gold from saltwater and that is how they made a company called Electrolytic Marine Salts Company. This company at that time was very big because they sold the gold very expensive and made a lot of profit because they were fake and they spend very little on making it. This kind of Hoax is called a fraud according to the

Get Access