The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-10-10
Roandly Scores Stock Exchange;
Also Takes Brokers to Task
Wall Street Is Gigantic Vampire Declares Former Mem
ber-"Is Gambling Den Pure and Simple Gives
Out Startling Statement

ings In these very securities which are
being hoated By the peorle's own money
without the knowledge of the individual
depOsitors in the banks.
See the wheel as il turns. The lambs
have given their money for the stocks,
they have bought tx stocks with their
money, and the STOCKS nave been passed
out Of the hands of the big owners Of
the resources Of the country into the
hands of the general public, and these
great leaders have the money in their
own name, instead of merely the loan
OF 1t for a while.
1--WE have a splendid bull market, and
the big melon is ready for distribution
All aboard for the down trip of the
insiders Here II comes on one preteXt
or another. most disastrous break in
the market. engineered upon the nOOr
Of the New York Stock Exchange by
the commission brokers or lamb herders,
now engaged in shearing. Prices tumble
and under the rules Of the stock ex-
change, the public IS forced 10 sacTi-
flee its holdings al ruinOus losses.
Into the breach now step the finan-
cial leaders OF SO-called big men They
wear halOs and pose pTetentiously as
the saviors of the country. They
shrinkingly consent to take back their
securities, in many cases at prices 20
per cent lower than the prices at which
they sold them 10 the people they are
now pretending 10 save This is the
melon. and the next one will be cut
when the Industrious public has earned
and piled up some new bank balances.
Easy to Put Over.
Easiest thing in the world. this rig
ging the market for the down trip. sim
ply let a few big men circulate a re-
port that Bryan might be elected. dis
charge a lot Of men in picked CONNER
cial centers Of the country. call loans
through their banks. refuse financial
aid TO mercantile enterprises. and then,
through their oyn particular brokers,
sell certain leaders by the process or
matching orders. One day recently they
juggled 100000 shares n breaking the
market and a nice little Clntaloupe was
cut up for the insiders.
The adjustment Of the trading IN
margins would go a long way toward
bought on the floor Of the New York
Stock Exchange would have 10 he paid
for.
1T is not 10 be wondered at that the
country west Of the Hudson river feels
bitter toward Wall Street and its great
crunching machine. the New York
Stock Exchange. The small merchants,
the farmers. auC the entire business
ducers. men who bring something out
Of the ground. they have come TO real
ize the annual flight from their MIDST
OF all the currency swept into the Wall
Street maelstrOm.
Tape As an Agent.
Incidentally. the tame is no small
agent In the Vaccinations of the New
York Stock Exchange. II IS the most
/ seductive and influential means OF
carrying a man of his feet. I would
say abolish the ticker and half the
harm is cured.
There are many other peculiar do
| ings in connection with the business OF
/ the gentlemen Of the New York Stock
Exchange, whose very president has
| a special partner who IS a trader on
/ its floor, and whose vice president does
( not disguise the fact that he is a
Spectator. But I have only dis
! cussed the fundamental. A moral is
sue was served In the closing Of Dick
! Canheld's gambling house and the
/ elimination Of betting at the race
| tracks. Those were but flea bites com
/ pared with the wantOn destruction OF
| the New York Stock Exchange which
| is different from the race track or the
] gambling house. in that il hurts the in.
[ nOCent as well as the participants IN
! the great legalized crime"