The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-09-28

bought and SOD in a single session.
This is becau there have been ar
bitrarily created by these few trick
sters many times more stocks than
there is money in existence. The
amount of stock that any man can
sell in one session of the exchange is
limited only by the amount that he
can offer for sale, and he can offer
any amount his tongue can utter;
and he is not compelled and cannot
be compelled to show his ability to
deliver what he has offered for sale
until after he has finished selling,
which is the following day. You will
ask as | did: Can this be possible?
you will find the answer | found. 1t
is so, and must continue to be so, or
there will be no Safeguarding. Mark
me, for this statement is weighted
with the greatest import to you all. A
member of this exchange can sell as
many shares of stock at one session
as he cares to offer. If any attempt
is made at the session he sells at to
compel him either before or after he
offers to sell to show his ability to
deliver, away goes the Safeguarding
structure, because from the very ma
ture of the whole structure of stock
gambling the same shares are sold
and resold many times in each session
and the seller cannot know much less
show, that he can deliver until he first
adjusts with the buyer and the buyer
cd inc af hn hp.
come such by buying. If rule were
made compelling a seller to show his
responsibility before selling, every
member would have every other mem
Der at his mercy and there could be
no stock gambling. When | had worked
this out, saw that while the few trick
sters of the System had a perfect de-
vice for taking from the people their
wealth. | had discovered as perfect a
means OF taking away from the few
the wealth they had secured from the
many With this knowledge came
conviction that my way was as honest
as the SYSTEMS, in fact, more honest
than theirs. They took from the limo
cent, | took from the guilty what had
already been dishonesty secured |
determined to put my discovery into
practice.
q might never have done so but for
that Sugar panic in which | was
robbed of millions by the System
through Barry Conant. In that panic
the System, with its unlimited re-
sources, filched from the people by
the arbitrary manufacture of stocks,
what l afterward discovered ! could
do to them, without any resources
other than my right to do business ON
the floor of this exchange. You saw
the outcome, in the second Sugar
panic, of my first experiment. In
few minutes | cleared a profit of $780,
100000. l could have made it fifty mil
lions, or one hundred and fifty, but |
was not then on familiar terms
with my new robber-robbing device,
and | had yet heart. To make
this ten millions of money, all
that was necessary for me to do was
to sell more Sugar than Barry Conant
could buy. This was easy, because
Barry Conant, not knowing of my
newly invented trick, could buy only
what he could pay for on the morrow,
Or, at least, what he believed his
clients could pay for; while |, not in
tending to deliver what | sold-unless
! could compel those who had bought
to resell to me at millions less than /
sold at-could sell unlimited amounts
literally unlimited amounts. When
Barry Conant had bought all that he
thought he could pay for, he was
obliged to beat a retreat in front of
my offerings, and | was able to smash,
and smash, until the price was so low
that he could not by the use of what
he had bought, as collateral, borrow
sufficient to pay me for what | had
sold him. Then he was compelled to
turn about and sell what he had
bought from, me, and when | had re-
bought it for ten millions less than I
had sold II for, the trick had been
turned. had sold him 100000 shases
say at 220, He had sold them back
to me say at 1870, and he stood where
he had stood at the beginning. He
had none of the 100000 shares. Both
of us stood, so far as stock was con-
cerned, where we had stood at the be.
ginning, but as to profits and losses
there was this difference: | had ten
millions of dollars profits, while Barry
Commits clients, the System were
ten millions losers-and all by trick.
The trick did not differ in principle
from the cae in constant practice by
the 'SystH'o.' When the SYSTEM
after mani .oturing Sugar stock, sell
100000 shares to the people for $780,
100000, they so manipulate the market
by the use Of the S10,000,O00 that they
have taken f.'om the people as to scare
them into selling the 100000 shares
back to them for $5,000,000. After
they have bought they again manipu-
late the market until the people buy
back for $10,OO0,0OO what they sold for
$5,000,0O0. The System commits no
legal crime. l committed no legal
crime l had not even infringed any
rule of the exchange, any more than
had the System when they performed
their trick. Since my experimental
panic l have repeatedly put the trick
in operation, and each time l have
taken millions, until to-day | have in
my control, as absolutely as though l
had honestly earned them, as the la
borer earns his weeks wages, or the
farmer the nrice of his crOnS over