TaÌˆgliche Omaha tribuÌˆne. [volume] (Omaha, Nebr.) 1912-1926, 1915-09-06
WHY THE MONEY TRUST BACKS THE ALLIES.
rnE WAR STOCK GAMBLERS.
nv Charles A. ooumsn, Authes " 0rns stesn Nslvoaa.~ SEQ

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You viii recall that several pears
ago, after the public bad been lated
into Wall Street. p%lnndered and
stripped, . great oaiciy arose 40 Ia.
eofp0fAlt The Stock Exchange,
A. AZ present constituted, The rs.
chsnRt is a private elub. It's mems
befs DO as they like. subject only TO
the clubs restrictions,
In ease Of the Insolvency Of a
member, HE obligations 10 other
members take precedence over even
the claims on q customer who has
been d~cffauded.F
The proposal 20 incorporate the
Exchange WAS greeted with fury by
your members. Your predecessor,
Mr.. Mah0n, pronounced Il q mons
trous injustice, ara at a dinner menu
beFs Kissed the name Of New York's
governor and threatened 10 remove
their organization from the state.
But when the Pmio Committee
recommended that Congress prohibit
the use Of the mails, telegraph aud
telephone 20 your association, the
Exchange promised TO reform. Ii
appointed a press agent, Mr.. Viii
liam G. Van Antwerp, at a salary
Of $4,000 a year-or is IL $25,O00f
whose duty it was to make the
Exchange popular again. / received
some of these reform promises from
the hands Of Mr.. Van Antwerp, and
as / thought they were earnestly
meant, | published them.
In view of that fact, Mr.. Noble, /
am entitled to ask you, How have
those promises been kept?
Today on the Stock Exchange the
old game of swindling the public is
in full blast again, but in a form,
crueller, meaner and more contempt
ible than ever.
You know to what / am referring,
the War Stocks.
What are war stocks1
Since Mr.. Morgan The Younger
made himself Britain's munitions
agent, the pro-British Money Trust
has jumped in to manufacture arms
and shrapnel for the Allies. They
think they will make "fat money
by selling this material for the pur-
pose of arming savage ~mercenaries,
through whom England hopes to
wipe out the German races of Gem
trail Europe, from which more than
one-haif of our people have sprung.
Well and good. But the Money
Trust hopes also to make money in
another way, namely by foisting
upon the public at high prices the
stocks issued on its war plants.
Among these war stocks | shall
pick out a few conspicuous ex-
amples. There are Bethlehem Steel,
Crucibie Steel, Westinghouse, Amer
sa11 Hzai De@Is.~k1 1-1 D~~rIx1
Steel Car. There are also many
others.
AS / write this, Pressed Steel Car
has been manipulated from $25 to
$59M a share; Crucible, from $18H
to $92M; Westinghouse, from $64
to $115; Coal Products, from $50 to
$170h, and Bethlehem, from $29h
to $s11.
Those are huge advances. On
Large cash dividends looming in
sight? Mr.. Noble, you know as
well as | do that the members Of
the Money Trust never share their
profits with the people. They will
put such profits as they make into
plants, and issue more stock against
the latter, unloading it at still higher
prices through the members of the
Stock Exchange upon the public,
which is to be neatly fleeced again.
Mr.. Noble, did not the Exchange
promise us that such reprehensible
manipulations would be prohibited?
You know far better than | how
the hidden machinery of the stock
tboomers is being used to stimulate
the public appetite for speculation in
war stocks. Paid tipsers float about
uptown hotels; marvellous stories
appear in venal newspapers of fort
unes coined by lucky gamblers.
Stories Of phenomenal wal orders
from Russia or Great Britain are
impudently invented, such as a
500, 600, 600 war contract by Amer
lean Can, or the 4o0,0 00, 900 cigarettes
supposed to have been ordered from
the p. Lorillard Tobacco Company.
In these two instances, well meaning
directors denied the lying stories.
But the rumors augment daily, the
faxed contracts grow in number and
volume, and the gambling fever is
whetted sharper by the harpics who
prey upon the savings OF the foolish
and credulous.
Now and then a high official Of
one Of the war stock companies has
the courage to step out to try to
stem the rising tide of gambling
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