The silver messenger. (Challis, Idaho) 1890-1912, 1907-11-19
APTER xxIx.-Continued

ional Coal DeCdlHS tlO ASo'"i u A"'' 4
as,ead of wash sales" Roebuck, .
orgdon and Melville were them .
.eiyes through various brokers, buy .
no the stocks in large quantities to /
,een the prices up. My next letter /
gas as brief as my first philippe:
~Bir Van Nest is at the Hotel
frankfort Newark, under the name Of
rhomas Lowry. He was in telephone
communication with President Mel
lille of the National Industrial bank,
vice yesterday.
"Tbe underwriters of the National
Coal companys new issues, fright
sned by yesterdays exposure, have
compelled Mr.. Roebuck, Mr.. Now
bray Langdon and Mr.. Melville them
selves to buy So, yesterday, those
three gentlemen bought with real
money with their own money, large
quantities of stocks which are worth
less than half what they paid for
them.
They will continue to buy these
stocks so long as the public holds
aoof. They dare not let the prices
slump They hope that this storm
viii blow over. and that then the in
vesting public will forget and will
relieve them of their load"
had added But this storm won't
blow over. Ii will become a cyclone"
struck that out NO prophecy"
said / to myself. Your rule. iron
clad must be-facts. always facts;
only facts
The gambling section of the public
took my hint and rushed into the
market; the burden of protecting the
underwriters was doubled. and more
anG more of the boarded loot was
disgorged. That must have been a
costly day-for. 10 minutes after the
Stock Exchange closed. Roebuck sent
for me
My compliments to him." said | to
his messenger. but | am too busy.
III be glad TO see him here. however.
You know he dares not come to
you, said the messenger, Schilling,
president of the National Manufac-
tured Food company, sometimes called
the Poison Trust. IF he did, and it
were to get out, there'd be a panic"
Probably. replied | with a shrug.
That's no affair of mine. I'm not re-
sponsible for the rotten conditions
which these so-called financiers have
produced, and I shall not be disturbed
by the crash which must come"
Schilling gave me genuine look OF
mingled pity and admiration. Il sup.
pose you know what you're about.
said he, but l think you're making
3 mistake"
Thanks, Ned" said The had been
my head clerk a few years before
and | had got him the chance with
RoebucR which he had improved so
well I'm going to have some fun.
Can't live but once"
My daily letters" had now ceased
to be advertisements. had become
news, sought by all the newspapers
OF this country and of the big cities in
Great Britain. ! could have made a
large saving by no longer paying my
slXty-odd regular papers for inserting
them But ! was looking too far
ahead TO blunder into that fatal mis-.
take. Instead | signed years con
tract with each of my papers, they
guaranteeing to print my advertise
ments, ! guaranteeing to protect them
against loss on libel suits. | organ
lied a duunmv ua,ye l,,,o,,, o,a
Through it got contracts with the tele-
graphic companies. Thus insured
against the cutting of my communion
IONS with the public, / was ready for
the real campaign
II began with my History OF the
National Coal company" l need not
repeat that famous history here. l
need recall only the main points-how
proved that the common stock was
actually worth less than two dollars a
snare that the bonds were worth less
than twenty-five dollars in the hun
ulea' that both stock and bonds were
Iliesal' my detailed recital of the
crimes OF Roebuck, Melville and Lang
uoh IN Wrecking mining properties, in
"'ecklng coal railways, in ejecting
american labor and substituting
neio's from eastern Europe; how they
hao swindled and lied and bribed:
40" they had twisted the books of
tue companies, how they were plan
nnns TO unload the mass of almost
worthless securities at high prices,
sueh TO get from under the market
Suu let the bonds and stocks drop
uown to where they could buy them in
~ terms that would yield them more
man $50 per cent on the actual capt.
,al invested. Less and dearer coal:
.ower wages and more ignorant labor
s' enormous profits absorbed with.
'uC mercy into a few pockets.
on the day the seventh chapter of
ollis history appeared. the telegraph
companies notified me that they would
,lahsmit no more of my matter. They
cared the consequences in libel suits.
eApiained Moseby. general manager of
'he oil the companies.
But ! guarantee to protect you"
sad J. Il win give bond in any
amount you ask