The Dawson news. (Dawson, Ga.) 1889-current, 1908-02-26
,oxs OF DOLLARS OF FlCTI-
b'n n,,s VALUES BOUGHT AND
COLD DURING A YEAR.
WITH OTHER PEOPLES MONEY
g.. the Salvation of This
1t wa" C,.,,bI;uo shop, Not Legiti-
Wv" Rusiness, the Government
i'' Tont It's Money Last Fall.

ISliSiuCSoS
nv ,ont It's Money Last Fall.
o.oor gambling in Wall street IS
- enormous business writes water II
an eNO in the Chicago Record. 1t
"0I, nrts scores of thousands OF per-
Supp some of them in the height Of
sO"', A dozen of the biggest
luz , ond trust companies in the
Da4 tronoIis would be compelled TO
NV .nt If business or shrink to very
- concerns if their rake-otf from
Sn-", stock gambling table were taken
Inv from them. Hundreds OF
w. nooo bouses would be annlhl-
,""1 Leave New York all OF It's
.at,o1 transactions in stock It's out
~ight purchases, and cut off only the
anraIy gambling deals and one-hail
4ho ekvscrapers in the Wall street
vagion would be without tenants
A. Rryan is right when he says
-. Now York Stock Exchange is the
rrootest gambling shop on earth
7ron+o Carlo, Ostend, Trouyille, all
-, ,icansed casinos of Europe, all
tho race tracks in the world, all the
soro roulette and poker dens IN
America punched together would be
% tallow candle to an electric
searehlight contrasted with the street
gambling institution.
Profits of Wall Street Gamblers
New York's rake-off on the stock
gambling game carried on in Wall
street is estimated by good judges
Of above a hundred million dollars
YEAR A hundred millions is lot
of money. In only six states OF the
Union do the total sums paid IN
wages to the workmen in all the FAC
tories of the state exceed TINS
amount. Last year the sales on the
Stock Exchange were 1875, 44o, 0Oo
shares. In 1906 the total was ESQ.,
100000 shares. The par value OF
the shares sold in the flush year OF
1905 was above SIS, 900, 900, 900:
Tom Lawson, who should be gooQ
Judge of such things, says 99h per
cent, of all transactions on the eX-
change are purely speculat1ve-slrn-
Div bets that prices will go up OF
down. A Wall street authority re-
Gently pointed out that, adding
shares sold on the curb, or outsIoe
securities" and bonds dealt IN
specuatiyely, the total speculative
business in the year in question ex-
ceeded $4,000, 900. How much
money this is may be vaguely appre-
ciated by the statement that 1t Is
four times the value of all the farms
in the United States, one-halt the
value OF all the land and bulldlhsS
Of every description, one-third the
census value of all the property OF
all kinds in the country, and nearly
0ne-half the value of all the produce
Of all the farmstin the United states
How much money it takes from
the banks and from the channels OF
business to carry on this enormous
gambling-shop it is not easy to say
II the full par value of all thesstocks
sold is to be reckoned as a part OF
the transaction, according to the the
Dry then the amount of money IN
vOIved is, of course, $25, 000,000,0O0
or 100000. 900, 900. If only the US
ual l per cent. margin is figured the
total sum is $2,500.000,000 or So
100000, 900 of ready money. There
is only $3,000.000,000 of money OF
all kinds in the United States ana
only $1,000, 900, 900 in general cir
culatiOn New York clearing house
exchanges run over 100,00O,000
Year Regardless of the figures
what every one knows is that Wall
streets is a great yawning hole into
which the money of the entire coun-
Try IS poured month after month and
year after year, and there used chief
" to carry on the game of making
EageTs whether stocks will go up or
down.
Why Money Goes to New York.
Inc great insurance companies
OFaW something like 5000 600 600