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The World's Work Volume 25

The World's Work Volume 25


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1913 Excerpt: ...in the future will be glad enough to own it. There seems to be little here akin to the ordinary "get-rich-quick" game with which all the world is now familiar. On the other hand, of course, everybody knows that an oil stock is primarily a gambling security, and this one is no exception. This story is told here in some detail because it illustrates most of the methods to which the public is exposed in its dealings in speculative stocks in the open mar ket. Almost identical methods were used in the original flotations of United States Steel, Amalgamated Copper, and dozens of other similar stocks, some of which have justified their original prices and some of which have not. It may be suspected that a good part of the skill with which Mr. Samuel Untermyer cross-examined Mr. Lewisohn was based upon the fact that Mr. Untermyer himself was originally counsel for the Amalgamated and was trying to analyze a process which he knew by heart. Those who live within range of the markets know that this sort of manipulation and exploitation goes on continuously, in almost all kinds of active stocks, and under almost every kind of circumstances. We have seen dozens of such campaigns that have succeeded and dozens that have failed. This fact, which sounds somewhat grim and sardonic as one writes it in plain English, is the underlying fact in a widespread agitation for a cleaner Stock Exchange and a more honest marketplace. Since all the world knows to-day the methods of manipulation and exploitation and the diverse and devious ways by which such master craftsmen as Mr. D. G. Reid, Mr. James R. Keene, and the late H. H. Rogers, and others of their kind coaxed the public into buying their fancy flotations in Steel, Copper, or American Can, the public has come to the ...


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Product Details
  • ISBN-13: 9781159841393
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 386
  • Spine Width: 20 mm
  • Width: 189 mm
  • ISBN-10: 115984139X
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 685 gr


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