Lyon County times. [volume] (Silver City, Nev.) 1874-1907, 1875-12-26
TO STOCK DEALERS.
STOCK SPECULATION ON A
SAFE BASIS.

To the public who deal In stocks, and par
ticularly to that class who have neither the
willingness nor ability TO take the great risks
attending the method Of dealing heretofore In
large scale upon the payment Of q small sum
Of money. with no possibility OF loss. other
than the forfeiture Of the small amount Of
money originally paid lin the event of the
particular stock dealt in not rising or falling
according to the expectation Of the OPERATOR.
and with perfect freedom from all liability
for .more mud" the system Of STOCK
PRIVILEGES, known as PUTS" and
CALLS" properly and honorably conducted,
commsnds itself beyond csvil a. the only
plan of operating. We're this not SO, why
would such extensive dealings in Stock Privi-
leges be carried on in all the great stock GEN.
tiers Of the world? For years the system has
met with popular favor and patronage in
Paris, London and New York, and within the
past year has grown to large proportions in
San Francisco. Many fortunes have been
realized in this way by persons beginning with
always make. for If the particular stock dealt
in should remain stationary until the expira-
ton of the Privilege Contract. the purchaser
would lose the payment which he originally
made. but can lose no more. Heretofore there
have been for our public only the following
methods Of dealing in stocks:
First-A purchase upon the payment Of the
whole amount Of money. in which case the
purchaser runs only the risk Of depreciation
in the value Of the stock. which is great risk.
oftentimes being fifty per cent. in . single
week or month.
Second--A purchase upon the payment Of .
part Of the cost Of the stock tsay forty per
cent generally known rs buying on ''mar-
gins"--a system fraught with great danger
and equally AZ bad as "mortgaging ones
homestead" having brought many . person
to beggary.
Third--A sale of any stock to deliver at
future time. the person selling being without
the stock and anticipating decline, with the
expectation Of buying it in at . lower price
before the time Of delivery expires. This is
known as selling short" and requires pay
ment down Of at least forty per cent on the
market value OF the stock and entails unlimit-
ed liability on one who thus operates. Ger
tainly no proper-minded person can commend
it to the people.
In contrast to the above old system Of stock
plan is far preferable. In New York heavy
stock operators, such as Russell Sage, Jay
Gould, Daniel Drew and others, sell Puts
| and Calls" only in large parcels to any one
purchaser, and ia San Francisco there are also
wealthy operators in and out of the San Fran
cisco stock and Exchange Board who sell this
same character of Privilege only in large par
GELS. These Privileges can always be bought
In San Francisco, but only in large lots.
To utilize these Privileges obtained from
big operators and to give the public an op-
portunity to take advantage of them in q small
er way, according to the ability or desire of
each person, Is within the province of Brok-
er in Stock Privileges The people are the
sole arbiters Of any matter Of public interest
and never fail to appreciate what is good and
reject the contrary; for they act from prin-
ciple based on RESULTS. As in politics the plat
form Of party provides the test for success
OF the canse, 80 in stock speculation has this
plan of Stock Privileges been tried In the cru
chile Of public opinion and has become there
by more popular every day.
The explanation Of the Put and Call" sys-
tenn may be given a. follows:
A"Put" Contract enables the holder Of It to
make profit by fall in the stock below the
price specified In the contract. This charac-
ter of contract Ia signed at price below the
market value Of the stock ut the time Of issu-
ing the contract, and reads as follows:
"Put" Contract.
VIRGINIA, New, 1877.
For value received, the bearer may deliver
to the undersigned shares of the