The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1907-09-19
SPOKANE BOARD SUSPENDS
Wallace Brokers Decline to Follow
Suit--Short Selling Ruined Market

II Of the suspension Of the Spokane Stock Exchang
is only temporary will be received with JOY the
agements OF all those mining companies whose stocks has ham
med down to the low level well by those interested
the unlisted companies which have been hned from dis
posing their treasury shares adequate prices by the lack conf
dnce inspired among the investing public through the exchanges
stany declining quotations for the gldged That
the Wallace exchange has also fit discontinue
WILL however, be somewhat of disappointment the people
The writer has believed that either the local the Spokane
market backed by sufficiently clientele Of
justify daily aof stocks Such call makes imperative that there
should plenty Of buyers otherwise will be forced down by
the necessities Of individuals Every drop recorded
investor with the result that further declines until confidence
that particular stock is utterly lacking
Then too needs but short experience the board
any broker that much dpss stock than
price, In order to achieve the latter feat all conditions surrounding the
stock must be favorable The public eager buy The
agement must be enjoy public confidence The
either make strike least continue develope we'll
with all these things its favor sufficient
scare investors into selling quickly for any price they and
especially this Of those who invested without examination
thorough knowledge Of the property merely hope
realizing quick profit.
When stock surrounded by all these conditions
ent informed owners easily demorzd and its price quickly
broken down.
Hence brokers rule prefer the short bear SIDE
with the result that spite Of all they may the contrary
to them they will easily make the money the
stocks they have sold lower before they have buy them
delivery From wishing stock lower helping put
quotation down short and simple STEP general pursuance Of
this policy characterized the members Of the Spokane board
find stocks pcrsisenty hammered down until
investing public thoroughly were
left to make a market.
This due shoghtedness the Of the brokers'
pure sefshnes and greed which did stop what the
ultimate effect the market would be- Had its logical results which
they brought realization Of by total lack Of buying
been studied out by them they would have taken steps long ago
both themselves and their competitors ndulgng in short
selling thoughtful consde a.n Of the whole question its broad
aspects would have vinced them Of their any time
entirely unreasonable that their clients would buying
while they devoted all their breaking down the price
stocks they had sold them thus aiding them to lose instead Of make
money.
The fact simply Spokane and Wallace have been 50
busy manufacturing stock that they selling and buying
markets 1t follows then surely night the day that to be
fu the exchanges should have absolutely prohibited short selling
Of permitting each broker to bend all his ind vdual energy smashing
the price Of stock for his personal profit.
Until the brokers that advise their
clients to buy only good stocks reasonable prices and then aid
managements Of such make profit for their clients
brokers have taken this lesson to heart they will suspend
their meetings too. 1,
Local Board to Continue Calls
Contrary general expectation the Wallace brokers meeting
call Of stocks day hereafter In discussing this decision
representative Of the Miner member Of Of the leading local
brokerage houses said last evening:
The sales made during the call unimpoant particular
indication which stocks being most actively traded in Our
firm seldom makes sale the hoard but commissions last week
several other firms did as we'll or
BUYERS in the market
than the public has any idea Of
The Wallace board has been honestly and square an
public line the market and the brokers blame for
prices The public makes them owners Of stocks did place
them with brokers to sell they would not be offered the Wallace
exchange
Of properties which being developed through the efforts local
brokers. There the brokerage Wallace
that lis not financing at least enterprise several handling
two three two have half dozen enterprises
depending them for working capital This than Of the
critics Of the board are doing for this district
- ~ II