Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1907-05-01

ne urSC news L got was that BliI
Van Nest had disappeared. AS soon
as the Stick Exchange opened, Ma
t1onal Coal became the feature. But,
instead of wash Sales" Roebuck,
Langdon and Melville were them
selves, through various brokers, buy
ing the stocks in large quantities to
keep the prices up. Ny next letter
was as brief as my first philippe:
Bill Van Nest is at the Hotel
Frankfort, Newark, under the name of
Thomas Lowry. He was in telephone
communication with President Mel
vile, of the National Industrial bank,
twice yesterday.
THE underwriters of the National
Coal company's new issues, fright
ened 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
aloof. They dare not let the prices
slump. They hope that this storm
will 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. 1t will become a cyclone"
struck that out. mo 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
and more of the boarded loot was
d1sgorged. 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 l 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 panic
Probably replied l with a shrug.
That's no affair of mine. I'm not re-
Eponsib)e for the rotten conditions
which these socalled financiers have
produced, and 1 shall not be disturbed
by the crash which must come"
Schilling gave me Il genuine look OF
mingled pity and admiration. Il cup
pose you know what you're about"
said he, but / think you're making
a mistake"
Thanks, Ned" said The had been
my head clerk a few years before,
and l had got him the chance with
| Roebuck which he had improved so
well. I'm going to have some fun.
! Can't i've but once"
/ Ny 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. l could have made q
| sixty-cGd regular papers for inserting
them. But l was looking too far
! ahead 10 blunder into that fatal mis-
take. Instead, l 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 dummy news bureau, AMI
through it got contracts with the tele
graphic companies. Thus insured
against the cutting Of my communica
tons with the public, ! was ready fol
the real campaign.
1t began with my History OF the
National Coal company" l need mo-
repeat that famous history here
need recall only the main points-hov
proved that the common stock was
actually worth less than two dollars
share, that the bonds were worth les;
t.than twenty-five dollars in the hun
| Gred, that both stock and bonds wer,
Illegal; my detailed recital of tn,
crimes of Roebuck, Melville and Lang
don in wrecking mining properties, il
wrecking coal railways, in ejectin
American labor and substituting
heiots from eastern Europe; how the
had swindled and lied and bribed
how they had twisted the books @
the companies. how they were plar
ming to unload the mass of almos
worthless securities at high price:
then to get from under the marke
and let the bonds and stocks dro
down to where they could buy them i
on terms that would yield them NOR
than $50 per cent on the actual cap
tai invested. Less and dearer coal
lower wages aud more ignorant labo
ers; enormous profits absorbed Will
out mercy into few pockets.
On the day the seventh chapter {
/ this history appeared, the telegrap
companies notified me that they woul
transmit no more of my matter The
| feared the consequences in libel suit
explained Moseby, general manager
one of the companies.
But I guarantee to protect you