The Big Stone Gap post. [volume] (Big Stone Gap, Wise County, Va.) 1892-1928, 1903-09-10

mote specRla(10s based On ,s,j,~,.t;~,
~ - loss oesed ~ vslues. n rsx>s vjsr
- <<fpers and d>ais
There II always In Wall street. and "a
rccsatiy IN sctise time. great deal Of H.
Legitimate speculation. That 4. n.o.f
Iunvhosesome condition. when uomen aud
ewes chIdreH are iEcsrsed rs the x.mb-
isng spirit. ana vhrn the prevailing rop-
eep,'os Of tie stock rs,ket Is that i pro-
ridss 81 okSsrturifs Tor betting ON prices.
Materially, hcgos broker ard bnesef shors
are bound TO take advantage Of this rsmb-
nng mania They have been we'll termed
~the pcsts Of Wall street" Thew often
engage large oaices in great hui.d,nvs
like The Broad Exchange and the EmpiSe
furnish them sumptnoes. hire retinue Of
cierss and style themselves bankers -
BOT they rarely transact any Legitimate
business As their customers are aiw.xs
paiis, that r. 10 sar, betting that prices
viii advance, the bogus brokers ard buck-
Ct shops, the latter being the street torn
FOR a concern that pretends 20 do business
Ike an exchange. take the other side OF
the bet. II prices decline they max. biz
Protts IL there j. a protracted bull now.
men, they close their doors and the prin-
eipais disappear. ID l. Head I'll,
=
TiPsters also bound into the .tre.,
men uho make a speculation Of selling in.
formation that such and such a STOCK q 10
advance or decline. Some Of these mon
are very shrewd in their reading Of the
market, hut they rarely have an, certain
information, and Whist their custor,ers l,,,
= simply another mans guess. These
tipster- are sometimes employed l,v so
called respectable elements in the street
IN order 10 help along deal. A bid one
ratos' who - conducting speculation Of
large magnitude. either for himself or for
a pool. and sometime for a corporation
which seeks 10 advance its credit. will. q,
the employment Of the right men. flood
the streets With tips 10 buv or sell. some |
times the tips are true. more often thew
are false n H. a speculative adarc that
- - wise 10 copper a tip. that il 10 saw.
20 act exactly contrary 90 IT, IA il Won
derful hos much that one hears la Wall
street that Is not so. Those ernerienced
20 the street learn TO sift the wheat from
ihe chat. They develop a sort OF instinct
~ which they separate the trse from the
iaise. But the outsider gets lost in fhe
maze. 10 h. not surprising that those who
lnaee merely from surface indication
mink ihat Wall street i a bad pl,c4, and
even professors Of political economy have
H. ]
lion BE- parasite OF business.
But under the surface 10 Is found iha,
IN truth, houcsts aud honor 10 average.
well up 70 the standard Of anv other NAV.
set oi business. while speculation has It's
eEitimatc place iu The mechanism Of com
herces and by giving nobility 90 capital.
Contributes mighty 90 the upLuldne oil
he country
The stock market hosevrr. i.a roos
'lace 90 Keep out ct FOR merchants rhose
mole time and capital should Doe devoted
% their own business. Tor officers OF banks
ma other financial institutions, Who. as
.anditrs Of other peoples money. should
'ut subject themselves 90 The Temptations
4 speculation. Tor clerks and other sare. ,
araers. whose incomes are not Sufficient
ID enable them 90 speculate With annie p,
'ieguard or margin. aud which should he .
epi scared Co the support of their famu- '
r. and TOR mrmhcr- of Congress sud p
Their public odciai-. ehosc hands ought
20 he Kept clean from speculative aliian- /.
81. J NAV subject myself Co some rriff- y
lem by saving 80. but Co ms mind one oil u
be- evils ct Wall street BE- that there are
many lines of connection between 10 r
nd Washington, lines OF speculation.
can. Naturally. Wall sireet's interest
the proceedings Of Congress aud thc
~" t"' '''N7"'f Impairment is very O..
't,. Ifoi' James Bryce, in bis "Ameri- a.
D" "l"i'h NeHllh, SAYS That there has II
no e'-e OF ine secretary 81 the Treas
neins improperly influenced hy spccu-
'l'e e'hsiacraiion- DO would Zee difficult D.
t'N'' i"At meWnefs OF congress are Ia
geo ny premature operations, hut ID
.","'N DOG q ieN 0erators and Repre- =,
i'et Hu'Jeei themselves iQ suspicion r'
'.e' irs''n l'nnfing BOZ wall street i
"uie'f. ~ Tine. aiao fhc husi- ~
~'.' t'u" "Ashiheion Dr. 300 iu- ~
"a, ''''ie ia'iof in tnc market. a.
'l.'" .utN' 9" Keep QUO oi thc stock IA
N''' women are often willing to talc @
-'' ''..s una" men, and are easily Jed
' -'"' ii"t' Nui generally they ave bad ~
ana Nhen nf"Aers tahe thvir ace b
"'' ,.sl sometimes have trouble vith
y" i"ere ero' however. SONS firms
y p. Hu''e business With women
tnef e'N oI speculation has mot been
en-, 30 ever before. alluded toas such
when stocks arc held for speculation we
+, '','g pr an .nseence Of responsibility ~
I N- t.'N 'ANNh N"ietf-. " HIrI fs ] a..