The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1909-06-12
WALL-ST. KINGS ARE
READY To BLEED
THE PUBLIC
Investigation Of Many Months Into
Traders tricks" Reveals That
Today's High Prices Means
Shearing of Lambs Is at Hand.
Expert Says New York Money Kings
Have Inflated Market as Bait
For Public.
BY MARLEN &. PEW.

everywhere to beware, beware! be-
ware. for the hook is baited and the
snare IL set.
Look at present conditions In the
light OF the past. the recent past, anu
gee how Wall-st. has set In motion
the good old reliable 'squeeze-spindie
game is the cry OF New YORK news
papers that watch the game and are
honest enough TO their reads inter
Gsts 10 express an opinion.
Frederick Upham Adams. who has
spent many months investigating
Wall-st. methods and exposing the
traders tricks" says that todays
high prices in 4 professional market
mean that the shearing is at hand.
The public is reminded OF events
OF two years ago, leading up to the
panic. There was boom market.
and the ticker tape. showing constant
ly advancing prices, was an attractive
bait. Suddenly the crash came. ard
the easy mark, playing the other Eel
lows game with confidence born or
suckerish idiocy saw his pretty penny
swept up by the gentlemen who were
holding the dice, and who remained
in the game and are now calling new
suckers in. Buy now" Stocks are
going higher" Get In while you can.
is the purport OF the advice handed
out.
During the past two years the kitty
has been slim. The last big crash
put an awful fea- into the hearts or
the little fellows. And the kings,
called professionals. have been
gambling with each other. Wall-st
sees no fun in this-the real thing
in the way OF sport js to get the
lambs in and let them buck your
game. Then, when losses come, as
they always do in marginal stock
gambling, none Of the kings are hurt.
and there are no hard feelings at the
club.
Wall-st. has been waiting patiently
for the return OF the wooliy victims
fur~ssveral months. The mock Is noS
as large as II was two years ago. but
II isn't to be sneezed at, indeed, re-
cent million.share days indicate very
nice response to the Buy NOW san
OF the bell wethers.
All the gambling specialties-
sugar trust tobacco trust. the Hill and
Morgan. Gould and Hartman, and
RYAN railroad and industrial issues
have been bought well by the public.
So. considering the times and the re-
cent past, II Is q safe assertion that
the "public Is in and the question Is:
How far do the kings propose 10
carry them and how long is II before
the shearing day?
Newspaper Sees Plot.
How much does the public stand TO
lose on today's squeeze spindle game?
Who gets the profits? There are nil
lions In il for somebody
I'll Evening
March 81 said that very wealthy
rroup of capitalists" was in a plot
to get the public's millions in the
stock market. This upward rise of
stocks, the paper said, was artificial;
made &c fool the people. like the old
lime squeeze spindle used 10.
The squeeze spindle was n hand
revolving on a dial which the operator
controlled secretly. People placed
their money in the path Of the hand.
n Il stopped there. they got double
their stakes. But there was squeeze
brake" on the hand, cunningiy con-
,ealed. which made the hand always
stop somewhere else. Thus the trust
ing people got fooled. and the spindle
man got their money.
Applying the present situation 10
the squeeze spindle game an exper
has made the accompanying dlagra~'
which shows the operation, the ng'
ures of course being used only as an
illustration.
When the Evening Post warned the
rublic that the squeeze game was on
The average market price OF the specu-
lative list was around 81, or nearly
.nar-The- fifst-meve of the kings Is
"a ante some of their own cash anu
stimulate outside buying. The ex-
nart who made the diagram suggests
that they may have put up million
dollars which buying sent the aver
age price up To 100. Then they sat
hack ard waited for the public
"Buy" Flashed Everywhere.
The "tipsters," agencies" "touts'
took ND the cry of Buy! THESE are
The campers for the game. The mails
and telegraph wires carried the word
cut 70 every town and city OF the coun-
trv The financial columns OF news
naners everywhere breathedSthe spl't
~ "buy" for they told of advancing
nrices and thai is newsstand thhS
even honest newspapers unconscious
~ become the dupes Of the kings.
Our expert figures that on the kings
riIlIon.dollar ante. The public came IN
with 100000 cerrying the average
nrice up 10 rs. AT this point there
was some pront-taking tsome wise
ones" mad had enousb and Sold, and
the kings had oGgaip stimulate me
market and reassure the lambs. SO
the expert says they may have put
M a second million, and this buying
carried the average price to around
t1s where II is today.
Arbitrarily. the expert has set the
figure 12l as the top average price,
and he believes that the kings would
IKE 10 induce the lambs to buy up to
that figure. at least, before the Dig
shearing comes.
rims the Indicate OF the squeeze
snindle turns and. ci course. the hands
~ the manipulators, whoever they
NAV be are upon the stop brake
when the public buys the kings sell.
when prices are at the top and a