The Cairo bulletin., 1905-01-23
THOMAS W. LAwsoN's STORY.


Thomas NJ lawson in he F.bruar
;ngs9nnort If "FranzseI Firanceo
rrerssa,t.s sfaaaz5na aiv@e ~ FL
i3WfHs illustration h aa
rus Il s form
AMI AZ pr 3s9f an
at3I4fr a. a sa9.as g5a aa8 h
assurance .paeaat s3g +,
They organize n tru Il company witt
as4aaa Genital of which the in
ssape c5argnr furnishes the rns
i0,ftF a,a, hla ae g nre.i 81
Aad Coz roller ~ fbr qesft r 44n N,
n8 hfu sIr asociate q
1 dummy Tho te e1nu4pa fl,s
.ail SOC baoD'os neaov 81
ieue +. TRs Insurance 1imny NJ
II. Ss9aa pGa. at rs oral8. I'm
ans aeines saak $4,000 aa0 MOI
/ The tgs Gen 8rrghas far So
a88 f34 ageeV a9 I'D age
3sai an HI afsaa t.5 $5 aa0.
ind ea aati ianal as 00a.goa. rA.ea
rspr aEts is .. ar.t profit froa
re trust company through irrespun.
i6la aumrlies depnqiting the in us.
uial oek rs collateral. The trust
ID Gauges he TRUST COMPANY 0 rs
ste boada for SIS, 100000. These bonds
are based upon ana cured by Moth
ing Of worth but the stock. 7he
Tie trust company offers .hese bond
for sale The Insurance mp NJ
hu sT.500,000 of the bonds and the
trust company, through dummies. the
other S7.500,000. BY the operation so
far the trust shows a profit of $40
900, 900, After making this profit and
the true worth of the bonds becoming
known. these decline back to the or
lginal worth Of the stock upon which
they are based. s5000,O00. and there
is the tremendous loss of $4,000, coo
made. The trust company 'busts
and there is a loss to Its depositors of
SlQ,000,000. This loss Is divided as
follows: $S,333, 900 to the savings
bank, 1880, 900 to the insurance com
9any and s3.333 600 directly to the
people, less the small amount which
will be recovered from the stockhold-
ars- CrE1 4 losses will bc affected in
an unimp5.tant way by the 81 100000
original capital.)
In this case the trust has done
nothing for which those responsible
for 1t can be civilly or criminally II.
able. Neither has the insurance
company, the savings bank nor the
trust company. and yer, II there had
been no trust and any one of the
three institutions had made the loss
directly through lis own actions the
officers of that institution would have
been ciyilly ana perhaps criminally.
held responsible"
Sooner or later. every dollar TAX
sn by the system through Wall
stree IS manipulation of stocks d.
rectly affects every man. woman ami
child in the United States" contin-
hes Mr.. Lawson. LET US. for exam
Die aea how stock slump in New
York affects the owner of rmall pol |
az IN Wyoming. The shares Of the
\ erican end English steamship com
,an ee were bought by the system |
IT double their worth and converted I
rto a trust. New stocks and bonds
@ four tires taejr value were issued /
lud ol 81 .ho N1hlle. TIE great iv-
urauc2 companies bought over ten /
million dollars worth of these secu-
titles using for the purpose the money /
hoy had collected from the policy /
holders P dollar at a time. This 4
Mt the m3maut IL wa
nalc 8ct19lv represented loss to I
he purchasing companies of eg5t II
Millions of money, for two miliiane I
laa eone 20 the people who formerly /
,vraI the telmship properties and /
iy millions TO the system as its
hara Of the swae. And j should he
that the men who gan
zed the steam snip trust we're the
D Kin who invested the insurance con-
,anys mcnss in Ks securities.
9TH, polfcv an,der in uvo-,ing
news oho,,f 10 .,taar,s,,ir ,,ns, al
ho,,t tba ,orr,l1,, 1o-. ,,,,s+a,,,ad ~,
Mo- ,gbo inve~fed = ~ sca,ri,ias
10 LIS not roa,I,a bau.eyar ths,
IL ins,,~anc., --o,,s,,anv go - ~.
a. erob nno. stng a. ~ ~
,,oaad !. {. e,so,.,. 81 sati.
.s..-ts ,t-s.t -,