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Editorial
October 28, 1907
Semi Weekly Herald
Durango, La Plata County, Colorado
What is this article about?
An editorial argues that failures of banks and trust companies in New York City, linked to gamblers and stock manipulators, will not harm the broader community or the solid financial basis of the Western business interests, dismissing stock exchanges as unproductive hold-ups.
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Full Text
DOES NOT HARM THE WEST.
The failure of two or three banks and a trust company or two in New York City should have no serious effect upon the community at large. No doubt these institutions were mixed up with as tough a crew of gamblers and cutthroats as ever existed in any age. When they drain the country of suckers and get their last dollar they turn their fangs upon each other.
These stock sharks have brokers on both sides of the street. One set will boom prices today and tomorrow the same gang will go across the street and press the same line of stocks down. A game where no man has a show for his money. The business interests of the west are on a solid basis and no number of stock jobbers can have any effect upon the financial condition of the great west. The stock exchanges neither produce or build up; are a lot of clean cut hold ups and the country at large will not worry over their trying to rob each other.
The failure of two or three banks and a trust company or two in New York City should have no serious effect upon the community at large. No doubt these institutions were mixed up with as tough a crew of gamblers and cutthroats as ever existed in any age. When they drain the country of suckers and get their last dollar they turn their fangs upon each other.
These stock sharks have brokers on both sides of the street. One set will boom prices today and tomorrow the same gang will go across the street and press the same line of stocks down. A game where no man has a show for his money. The business interests of the west are on a solid basis and no number of stock jobbers can have any effect upon the financial condition of the great west. The stock exchanges neither produce or build up; are a lot of clean cut hold ups and the country at large will not worry over their trying to rob each other.
What sub-type of article is it?
Economic Policy
Trade Or Commerce
What keywords are associated?
Bank Failures
New York
Stock Market
Gamblers
West Economy
Stock Jobbers
Financial Stability
What entities or persons were involved?
New York City Banks
Trust Companies
Stock Sharks
Brokers
Stock Exchanges
Business Interests Of The West
Editorial Details
Primary Topic
Impact Of New York Bank Failures On The West
Stance / Tone
Reassuring And Critical Of Stock Market Speculation
Key Figures
New York City Banks
Trust Companies
Stock Sharks
Brokers
Stock Exchanges
Business Interests Of The West
Key Arguments
Bank Failures In New York Will Have No Serious Effect On The Community At Large
Institutions Involved With Gamblers And Cutthroats Who Exploit The Country
Stock Market Is A Rigged Game With No Fair Chance
Western Business Interests Are On A Solid Basis Unaffected By Stock Jobbers
Stock Exchanges Do Not Produce Or Build Up, But Are Hold Ups