Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1874-01-15
Stock Speculation.

ticle on stock speculation from the San
Francisco Alta Of January IL:
One Of the worst features In stock
speculations, M In those which ut times
iasten upon every branch OF business,
Is The "besr" sldo Of the operation,
because that Il not only pure gamb-
ling. but Involves n destructive ten-
dency-a disposition to undervalue
property dlscredit individuals and I'M
dcrtakings, aud Induce holders to sell
that others may buy at profit. II ls
no doubt the case that IN = time OF
abundance OF money and material
prosperity, engenderlng a hopeful feel.
Ing Ia the public, that purchaser, OF
real estate. or articles OF merchandise,
or stock securities, may be pushed TO
MI extent that raises prices to 4 pOlnt
not Justified by the probable reserves
or the profits. At such timesa person
may enter Into n contract TO deliver
within n specified future time some mr.
tlcle at a prlce lower than tho current
rates. So far the matter u Legitimate.
Hc has \ perfect right to his opinion
and to operate upon Ii. II he Is right,
aud adverse circumstances arise,
causing q fall. he covers his contract
nj u profit aud gets the reward OF his
foresight. Unfortunately, however,
the bear" seller never limits himself
TO the current rates Of tho market.
lie begins at once TO Influence 1t by
calumny. by lies. by operating, II lie
can, To produce money pressure upon
tbosc who hold the coveted article,
compelling them to sell. If II Il u
compqny. he defaines the manage
ment, mi.repiesents Ia resources, ex.
aggerntes It's liabilities, striving by
every possible mode to destroy eoii-
lidenee In II aud prevent buyers,
until such time as he IAN get what
Ie wants ut u profit OF his contract.
This destructive course Is one OF the
scverest drawbacks upon the progress
Of . community. The most common
form it assumes Is that Of virtuous
and highly moral dlsapproval Of stock
gambling. As soon Ms q speculation
IA developed and the public have pc
come large buyers AZ rising prices, os-
cause they believe III q further rise. or
for any motive whatever, we hnd Ger,
tain papers OVERLOOKING win moran
dissertations upon spock gamo',lg.
c~autioning inc pnoilo no. 70 guy any
more STOCKS. not = worn IS uttered
wniic buying Is gong on ana Iaige
holders perhaps, unloading upon the
public NJ large ; Out as soon as the lat
ter are loaded. then cotne the uislnter.
ested papers 10 INFORM them that they
have purchased uobles y caution'ng
Others not 70 taxi them on their hands.
Ihis Is one means OF bringing ABOUT
the iaii so mueh uesiisu oy those VINO
SOLD snort, III the phenomena o.
the stock msrke,, certain amount o.
expsriesoe oeVe,opes tnc temperament
OF the ueaier. TIC Is either optomist
or pos-optomis'' OF, a. brokers express
u. q natutnI Dull or = natural
"oear. nc hopeful, enterpr,s-
,ng' nS"."e o.me'es w progress NC
sa Dull, oeS.uso ne mas commence
10 ~ iu'u,e. En tue otner hshu' u
no Is OF y suspicious, gloomy. uiscon-
tented. croaking disposition, no oper-
ates Tor q iaii. lie has no faith In
anything, anu will soil short under
any and all circumstances and when
loaded with short contracts, especially
eloquent 10 he upon the folly that will
Induce people to buy. shares In mines
That do not PAY dividends: n prooa-
Oily never WIZ pay any. very ear
nest Is ne % the desire 70 save poor
people from ooying Stock that ne mas
sold, and predicts a speedy anI nna'
wiping OUT OF ucn securities. Never
theiess speculation goes on, anil IKE
"Truth. when crushed 10 eartn. VIII
again." IN most exchangeaoie val.
rs well as In stocks: The bulls"
VII! operate upon the iuture' pushing
their hopes TO exaggeration, . y
bears VIII come forward win their
periodieal moral piatituues ABOUT spec
ulaaon' when they think the market
may DC innuenced oy tnem. asa gem
ersl results every season OF active
speculation leaves q real progress be-
hind IL. A little more than three years
tho market value OF the Crown
Point mlne was $36,000-$3 per share
for $4,000 shares; and Of Belcher,
10000. IL was supposed that they
ha sOll for assessments blt the