The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-06-29
THE MORAL OF RECENT FAILURES

There been several aIuresa among the mining stock brokers OF GOLD
squeeze in .ons particular stool. which. witt With time. they WIN 3 able to cover.
into their affairs and the public win DON bs appdssd Of their status.
The, Ts have s' Sssss q sSs.s s sa Storage an. I'd: :. =. .. q Ct ss sssas i sSse success. in or li ssa:
ss Us !, sh as's sr sss' sss is !. 70 : n mat Sa sss tn. put Il e; q as sl' with has been caught
solicit s account. 3 !. sc commission a%s IS ON BROKERS' asp .sosia ssf1a i'm absolutely a@s ss' f 1an's speculate lat
has nav. + large s balances Se is's s1sr; hands .as I susjses Z t. er @sa from 9 sSsr esnss s-I Il /. ' am
Of their customers in their own transactions; perhaps for . day. or o a 50 day
swings swings a against in ss an and the. s1 ar ss sopsissi II involved and md he client the loser.
IN il their hands hand BY sy clients ens: . further ms' their :, campaign ann The he bull i' side s" Wins out and
also a psrnicious practice or they use their clients stocks to beat down the
constant temptation to gamble n 80 day contracts. a broker buys or sells. as
Is gambling pure and simple This form Of trading was introduced o. the board
he s stocks i.i from a. = distances Or delivery. But as ! : fact 10 days vs. is long long enough nc as 70 70
get in stocks from the most distant points and the 80 day rule is made Use Of
Most Of the hrms that hav gone under la been playing the short side Of
the market. The summer months are always looked forward o in the markets
ssaasonS when the st stocks X " would a% be b bought sssss back sma !. al a low S figure % .', This mn nes rule
ioss rI prices q is e ssass ss ss q yaasr r. coSrs s at ses si ao ssssoa n But 3 y as m saown both both
e especially Tally thu The a Gold ED ma sss IS oh Changes ars'i in Conditions on ito sc conn msa So fas in ao oa
ing property. a big strike may set the market on fire any VT time and strikes re
s% norm si increase in the production a%0 Of the h district MI the market I%ss Of a1a going ping
than several months ago. In fact the market % is much higher on all issues sue
prices be before e. thu e s summer ssI is owe ovsr a' While WMs' ooidas ID and nd San al francisco r. Cisco ' have S bee
been Steady absorption # the better class stocks by eastern Operators .'s These
converted to ooMasd by the constantly improving physical conditions Of Gold.
WORT of" Of = camp am and and it's its ' mines The SsS market has asI gone a p on this S srd in inn spite as
several of the professional bearsh have been caught and among them n less
4 1% ' so~n s'n osssr DI nSs son . % = . f b sas css' sn ss S foe s1a + ssea I'm ssnsss
s ign s%' but a' n aasl l Among 1I' sasm n sas : 1.s lns u1sn ' h ann OF to sseSass
capital in margins or 50 day Contracts oa scMpins the market irons day asI o day
ness n@ /. o f course sss and several Ses Ia re- today %aw sad%r s and v Ss m nasp ''ps ~ o '0'f
change in business methods both among brokers' and the exchanges /. is o1
s sS%sn be 'a Abolished .s t1 and s% To. til tim. sn limit 1s' Se eus s sosn Z 10 en days IS aa Tsn 1 a1s xo aas
would s% saam s%s to "a a De- degree s1, The . ten pGis to %s gamble is' and %', manipulate asaass '% he m an
Another thing; brokers should be prohibited from borrowing md ioaning
sseasr la a@ t that q he e e ean borrow avn tho Ss sso @aA shs sa4 the sm sss fa delivery 1r " eems: :
Of the brokers are holding h sack 20 because of stock loaned to Arms which
The moral of 4. all is that brokers who accept accounts and advertise IS
s%s and dt the ' stock buyer $ should on i'm insist as. when sa n placing sI s ds's asso %a 't that h Ss
And a second mora might be drawn: Don't short the ooidfeld market.