The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1909-06-16
LOOK OUT! WALL STREET LATEST
TRAP MAY BE SPRUNG VERY SOON

when losses come, as they always
do in marginal stock gambling.
none of the Kings are hurt, and
there is no hard feelings at the
club.
Wall street has been waiting pa
tiently for the return of the wool
ly victims for several months. The
flock is not as large as Ii was two
years ago, but it isn't to be
sneezed at; indeed, recent mill
lion-share days indicate a very
nice response to the "Buy Now"
call of the bell wethers."
All the gambling specialties-
sugar trust, tobacco trust, the Hill
and Morgan, Gould and Hartman
an dRyan railroad and Industrial
issues have been bought we'll by
the public. So, considering the
times and the recent past, Ii is
safe assertion that the public
is in" and the question is:
How far do the Kings propose
to carry them and how long is
it before the shearing day?
How much does the public stand
to lose on today's squeeze spindle
game? Who gets the profits?
There are millions in it for some
body.
The New York Evening Post,
on March 81, said that a very
wealthy group of capitalists" was
in a plot to get the public's mil
lions in the stock market. The up
ward rise of stocks, the paper
said, was artificial; made to fool
the people, like the old-time
squeeze spindle used to.
The squeeze spindle was hand
revolving on a dial which the OPP
erator controlled secretly. Peo-
pie placed the money in the path
of the hand. If it stopped there,
they got double their stakes. But
there was a squeeze brake" on
the hand, cunningly concealed,
(which made the hand ALWAYS
lSTOP SOMEWHERE ELSE. Thus
1.-THE trusting people got fooled. and
THE SPINDLE MAN GOT THEIR
MONEY.
l
Ito the squeeze spindle game, an
lexpert has made the accompany
ling diagram, which shows the
Operation, the figures, of course,
being used only as an illustration.
When the Evening Post warned
1.-THE public that the squeeze game
was on, the average market price
lof the speculative list was around
l97, or nearly par. The first move
of the kings is to ante some of
| their own cash and stimulate out
side buying. The expert who
made the diagram suggests that
they may have put up a million
/, dollars, which buying sent the
! verage price up to 100. Then
ley sat back and waited for the
ublic.
The "Tipsters, agencies, -
touts" took up the cry of "Buy!'
hese are the cappers for the
anne. The mails and telegraph
Tres carried the word out to ev-
ry town and city of the country.
he financial columns of newspa-
ers everywhere breathed the
pirit of buy, for they told of
lvancing prices, and that is
ews-and thus even honest news
apers unconsciously became the
upes of the kings.
;, Our expert figures that on the
Sings million-dollar ante, the
), ublic came in with $50,O00,000,
lrrying the average price up to
Is. At this point there was
ONE profit-taking (some wise
mes" had had enough and sold
nd the Kings had to again stimu-
. lte the market and reassure the
ambs. So the expert says they
hay have put up second mil
ion, and this buying carried the
.verage price to around 118,
where 1t is today.
Arbitrarily, the expert has set
he figure I21 as the top average
rice, and he believes that the
!. lings would like to induce the
ambs to buy up to that figure,
least, before the big shearing
ONES.
Thus the indicator of the
lueeze-spindle game turns, and,
/ course, the hands of the manip-
lators, whoever they may be, are
pom the stop brake. When the
ublic buys the Kings sell. When
rices are at the top and crash
s imminent the outsiders are al
ways found holding the stock and
Ways found holding the stock and
he Kings the money.
That's the squeeze-spindle
Jane.
The New York World says edi-
sorially: Leave Wall street