The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1904-12-29
TO SAFEGUARD STOCK INVEST
MENTS.


MENTS.
President Roosevelt may not have
foreseen the present remarkable war
between the great stock gamblers, In
which hundreds of innocent, Well
meaning inventors have been beggared
by the manipulation of certain securi-
ties supposed to possess an intrinsic
value SUFFICIENT to protect them from
such raids as have been made by
.Frenzied" Lawson and his band OF
financial outlaws. That the president
realized that some action was necessary !
in order to avoid the inevitable disas-
ter attendant on continuation OF the
present policy of these corporations is
apparent in the following warning
words in his message:
IF corporations are to continue to DO
the worlds work. as they are best
fitted to. these qualities in their rep
resentatives that have resulted In the
present prejudice against them must oe
relegated to the background. The COR
porations must come out into the open
and see and be seen. They must take
the public into their confidence and ask
for what they want and no more, and
what advantage win accrue TO the pub
what advantage viii laccrue to the pub
lie IL they are given their desires. for
they are permitted to exist, not that
they may make money solely. but that
they may effectively serve those from
whom they derive their power.
Amalgamated Copper and large
number Of kindred stocks were placed
on the market by corporations sup
posed to be controlled by honorable
men. and the innocent investors who
purchased those stocks are entitled to
some protection at the hands Of these
men. For the stockholders and gamb-
lers like Lawson, Gates and their reti-
nue. of "pikers" no sympathy need be
wasted. Their money was never placed
in the shares Of any corporation as
legitimate investment, but solely for
gambling purposes. When in the
manipulation of the stocks for the pur-
pose either of depreciating or increas-
ing their values, they affected the le-
gitimsne investment Of the man who
had a his savings in the shares
of any OF the corporations involved,
these gamblers should have been called
to account. 1t has been said that no
man should buy stocks unless he Is pre-
pared to hold them indefinitely and
thus escape the effect of bear raids
which wipe out the margin operators.
This il hardly just. for the reason that
many a prudent man bought Amalga-
mated on showing that convinced MIN
that IL was safe. permanent invest
ment on which he could realize when
ever he so desired.
No matter how careful a man may
be In his business ventures. there are
times when II becomes necessary for
him TO part with some OF his invest
ment securities. II such emergencies
arise when stock gamblers carrying
enormous lines OF stock on margins
take a turn at manipulation, the loss
lis Just Az heavy on the prudent Invest
or as on the gambler who was short In
his margins These sensational raids
are made possible only because the
corporations do not come out into the
open" Back OF their hamboyant pros
peetuses, which attract the investor
there is an air Of mystery which laxity
Of the corporation laws IN most states
does not compel them 10 remove the
laws regarding corporations are much
better IN some states than IN others
I Accordingly we find the STANDARD on
Company with headquarters In New
York Incorporated In the rotten bor-
ough of New Jersey simply because the
corporation laws u tina, home Of the
trusts are 10 liberal aa 10 permit the
unloading on the public of almost any
llhlng aheH of gold bricks % green
goods