Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1911-06-30
Summary ACTION NEEDED.

brlgandS and their secret allies. The governing
committee is fully alive to the fact that
the fraudulent practices of the brigand brokers
must be stopped at once or else the exchange
will be ruined. Its members know that their
action to this end must be drastic and imme-
date and without public confidence the eX-
change might as well go out of business.
The conditions such that decided action
in this relation has become necessary if the
brokers are not to be reduced to playing the
game merely among themselves The public will
stay out of market when it is known that
prices Systematically rugged by of
fictitious sales has VIGOROUSLY been the
with ComstOck quotations of recent record.
If the broker are not to be reduced to swapping
jack knives among themselves it is essential
that means shall be taken to restore public
confidence.
The governors have ample power to punish
offenders who stuff the market quotations by
means of 'wash Sales but the practice has been
winked at, possibly because it might seem to
produce, the impression of a lively market and
good business That theory might work well
enough if the public did not become aware of
what was going on, but suspicion is easily
aroused in this field In fact, nothing less than
scrupulous honesty of exchange transactions will
serve to make the business prosperous in
steady and legitimate way.
The governing committee has power to pun
iSh offending brokers and that power should be
remorselessly exercised Neither will it suffice
merely to fine the guilty men, because broker
may easily make profit out of fraudulent
transaction greater than the sum of his fine
This plan of punishment would make the
change sort of partner in the profits of fraud.
If. the other hand, brokers know that they
will he suspended expelled for making any
wash sales they will understand at once that
such practices will be fatal to their right to
do business the exchange.
1t is a much-needed measure of selfdefense
for the brokers that the Call urges upon the
exchange authorities They can not afford to be
tolerant nor can they afford to delay. The
newspapers have been at the pains to lay bare
dealing through the exchange. They will be
glad of the opportunity to let the legitimate
investors and spectators know that these con-
ditons have been corrected and that the piratical
operators have been dealt with that they
dare not and can not hereafter injure lawful
business on the board. Nothing less than sum
mary action and Tightening of the
rules will suffice.-Call.
That bad bandit seems to have made his
cape good.
On the sunny side of Easy street life is al
ways worth living.
VIII New Yorks proposed new subway go
| through or go under?
1t is very doubtful if trust busting is as ex
citing shooting lions.
No has any sympathy for man who
commits political suicide.
No matter how many cabinets France has
they all highly polished.
Thieves always take things they find them
and then look around for more.
With most people the skeleton in the closet
is a disappointed hope or ambition.
An officer who is on hot trail should never
/ allow himself to get cold feet
In the matter of batteships England Ger
tanly has the greatest show on earth
The way of the white SLAYER is being made