Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1907-09-25
It Is a Gamblers Price
Advises Farmers to Ship to the Union
Warehouse at Houston-Calvin
Will Advance Money On It
and II Can Be Held For
Fifteen Cents.

Z
everywhere to rally to the support of
the warehouse system as a means Of
counteracting the pernicious influ-
ence of cotton exchange manipulators.
The address is one of the strongest
yet issued by a union official. In it
Mr. Neill charges that both bulls and
bears are working against the inter
est of the farmer and that both sides
OF the gambling ring are fraudulent
and deceptive.
The address says:
The condition of the so-called cot
ton market has for days and days de-
clined without any apparent reason so
far as the casual observer can see.
This proposition is a very serious one
TO the cotton raisers of the South and
is a menace to the business interests
Of the country. The daily reports are
to the effect that the so-called bear is
having it his own way, and tumble,
tumble goes the market to the great
detriment Of the people.
The market manipulators have been
going on for years without creating
much alarm-in fact, the people have
never investigated it as they should
in fact, don't know anything about
it.
The market quotations that are Civ
en- out daily in the interior towns
the price that is made by the New
York Cotton Exchanges a fictitious
price, fraud and deception-the gamb-
lers' price, one that is made on ficti-
tious bids by these so-called bears
and bulls.
The bear is a bull and the bull is a
fgar--both-a fraud ssss.Szuallss-s.-enIN
and the worst class Of gamblers. The
people have been taught that the bear
is a fellow located north; that he
wants cheap cotton, and that he is an
enemy to the south. The bull is a fell
low that is supposed 10 be in the
south; he is represented as a fellow
that wants high cotton, and the south
has been led to believe that he is a
friend to the south. These two ele-
ments are represented as warning up
on each other, each trying to gain the
ascendency over the other. The bear
and the bull are one and the same
in fact, operating together or separate
ly, to accomplish their purpose.
The term bear" is used to fool the
people who think they want cheap
cotton and to induce gambling on the
bear side; in fact, to catch suckers.
The term bull" is used to fool the
people who think they want high cot
ton and to induce gambling on that
side; in fact, to catch suckers on that
side. Thus they fictitiously bid the
market up and down. For instance,
when the great majority Of margins
are on the bear side the market is bid
mp fictitiously by a system of wash
sales. Often the fluctuaion is so vio-
lent and great that no man can afford
to put up margins again. Then the
fellow loses out, as now the majority
Of the margins is on the bull side and
the market is bid down day by day
until those who have put up margins
will be forced out. Then the machine
will 90 to the other side.
Those wash sales are sudden, often
violent and sometimes rise and fall
as much as 12O points in a single day, |
touching both extremes.
These manipulations are OF serious |
prostrating the farmer, |
utterly disrupting and destroying the |
market, jeopardizing the business in
terests Of the country, precipating |
widespread bankruptcy. causing the
loss Of millions Of dollars, taking out
an competition and actual speculation |
that existed in the cotton market. |
Thus the gambling price. coined out
by gambling bandits. Is telegraphed |
The world over as the price of the
greatest commercial crop the world |
ever saw, making a uniform price all
over the world and destroying all
and taking out all actual
speculation.
Before the enactment of the Jen-
anti-bucket bill these
lelltraps were laid in almost every
.ity ready to write the price as coin
"a in New York upon the bucket shop
bulletin boards. thus adding power
md Influence to one Of the most po-
out dcyilish. flexible and gigantic
systems Of robbery the world ever
saw.
The farmers price Of IS cents is
fixed upon the shortage Of cotton and
he great demand for cotton goods.