The Cairo bulletin., 1907-03-29
CARNEGIE FAVORS
A FEDERAL CURB.
FAMOUS lRoNMAsTER De EcLAREs
TIME FOR y. S. CONTROL
or ROADS IS HERE.
SCORES WALL STREET
And Says Values On Change Are
Not values---commerc Board
Should Re Powerful as the
Supreme Court.

New York, March 2s. Andrew ca.
Inegie made a vigorous attack upon
certain Wall street methods iii d
speech al dinner given Id his honor
by the United States Military Tel.s
graph Corps tonight. Mr.. carneai.
declared he had never made dolias
gambling In stocks and added that ii
was me business men declined ID
recognize the men who make money
lin Wall street and render no value for
lii.
"a few gamblers in Wall street are
in trouble said Carnegb If a man
has sold stocks short. and they go
down he is delighted But If they 81
the other way and he ha. nj the
stocks to deliver. he thinks the presE
dent has gone a trlfie too far. lis a
good thing for tn country that gamh
lers have come to grief. | wisl
could invent q system or plan where.
by both sides OF stock gambling would
come To gs' eff Wall street is not a.;
of America and there arc some piaces
I In NV York even that are NOT Wall
street. Spectators are parasites
feeding upon values and creating
none.
Kites Must All Come Down.
1--WE have had five years Of wonder
ful prosperity. Today. ms cad III
charging $46O.000O00 for ths Caraegia
Steel Company, would ask $GaOsn0H
1000 for t. But never q kite went p
but II came down. Wall st:eet Il
really in healthy condition lis an
eruption that III coming QUE and nas
lgcing ~. and lef ns rojoios and hope
THAT tomorrow prices will go down.
e'Val street prices. sail Mr.. Car.
negie, ARE not prices at all They
are quotations, fictitious fisqres
which have no more TO do with the
real value Of stocks and bonds than
| has day to do with night,
= do not know anything about
Wall stree quotations. only hear
LOT them. never seaa them lathe
newspapers because they a B MOB
mean anything 70 me II man lssas
his all at gambling have no sympa-
thy for him. ! have no sympathy for
Wall street gamblers.
Men who possess standard securi-
ties have no cause 60 worry about
their value because OF what Wall
street gamblers say they are worth
There Is one good thing about these
so. called panics-the serve to stir
up the patients long enough 70 show
the doctors what is the matter with
them"
Approves Federal Supev.sicn.
Yes he said, In response to the
greeting of reporter, You may talk
TO me. but ! shall not promise 10 talk
TO you"
You might care to say something
Is was suggested about The admin
istration's attitude towards the rail-
ads
President Roosevelt's ideas ere
commendable. began Mr. Csnege.
Government supervision Is now the
rule in Europe and Ca ada and the
time has come when some restraint
should be placed on the questionable
practices of railroads in his coun-
try"
What do you mean by the time
has Gomez was asked"
when stocks and bonds are issued
without regard 70 the best interests
oi the investor at large AMI when the
proceeds Of such issues go into the
pockets of he officials who authorize
them. it is time for the COVE nment
to say when ard for what purposes
such issues shall be made"
How should the government as
sumo control?" Mr.. Carnege was
asked
Through the interstate eomne-se
commission he replied with empha-
sis and a lock which seemed to mean
that the way was perfec " apparent.
The interstate commerce commits
sion should be on an eoual plane WITH
tho supreme court Of the United
States so far as the relations OF the
commission to the rail- Dads afe con
cerned. o-gress should enact a law
thai would give the committee tbs
power.
Stock Jobbery Can Be stepped.
4 have eyry confidence IN tie
wcrld IN the present personnel Of tae
commission. Il Is composed IL
highly intelligent and irreproaz hahle
lot Of men ami they have only to be
given power In order to stop the
stock jobbery that calls for resnIa-
ten
New York City ean-ot issue bonds
just because some on cials So he
bends shall BE issued fog a taaeiss
puI pose. The legislature says 9hat