Show f i I 1 1 k 41 4 l T t f delivered at annual banquet of salt lake i 11 shearing the almb 7 X stock and mining exchange decele Is X ber by H S joseph WIMIN motel 1 I lenim w am ma As a man of very few words I 1 shall not occupy your valuable time by many comments on the subject matter you have given me shearing the lambs is an occupation that only the votaries vot aries of our beloved mckinley he who sleeps the sleep of sleeps have successfully put into practice for many years past but my brethren in theory you have been accused as being professional lamb iamb do you know how they shear lambs they first dip the victims in water so as to clean the fleece then let them dry and then drive them into a corral and the shearer takes the lamb by the hind leg throws it down runs the shears into its flanks and back and behold A full clean fleece comes off and is tucked away safe in a bag and the lamb turned loose then the owner of the herd of lambs sells the wool and reaps his reward for no labor at all except to drive his herd on uncle sams domain and let them thrive on the fat of the land natures food sage brush and snow so you see the poor lamb is not to blame he is compelled to submit with little show for resistance and is led to the slaughter now what is our alleged method of shearing the lamb he comes unsolicited into our fold with his mind fully made up to follow the maxim of our friend david harem do unto others as others would do to you but do him first and grasps at what he deems a golden opportunity of when you catch a sucker bump his head and expects what A handsome return within a few days for his bargain if the result of his purchase proves beneficial he is happy and drinks in his bis imaginary profit in exuberant expressions of joy and an occasional bibula tion later at the onyx bank if he finds that the public has not bit at his game alydthe and alid the stocks have not materially advanced to his expectation he drinks up his sorrow in the flowing bowl and soaks his overcoat at the collateral bank and then we my brethren are accused of shearing the lamb it if the lamb did not come of his own accord into our fold we could not shear him and we are the objects of his attacks and he is the aggressor he hopes by his approaches to get us into his grasp and instead of a lamb he is a wolf in lambs attire he is the one who booms stock he knows the nature extent and character of the strike he puts us s on and says when he gives us an order buy a little for yourself but we dont generally bite and when the stock he buys lags gs a little and does not advance as rap idly ly as he hopes we are accused of shearing the lamb says A lamb is a cheeps offspring or metaphorically speaking one that has the innocence and meekness of a lamb beware of the meekness and innocence of the lamb who comes to you quietly and whispers in your ear we have made a strike of steen feet of million dollar ore in the bullion consolidated mine get some of the stock for yourself he is is trying to enthuse you my brethren so that you will delphim hel help phim him boom the stock so that the little he bought may appreciate in value the broker is only the medium between buyer and seller and is the one who fills his legitimate orders from the public buys and sells at the commands of his client and unless there is a demand for the stock he buys it is bound to depreciate the market value of any security depends upon the demand for the same and it can be expressed in no more intelligent manner than in the words of the comstock miner who upon being asked what was the cause of the rise in con virginia remarked more buyers and sellers and when the stock was dee declining lining we asked the cause more people selling than buying said he and so it goes the honest broker serves his client honestly and fulfills his mission and does not look foiani for any lambs to be sheared in all seriousness the stock brokers profession is one that none of us should be ashamed of without us railroads would not be built mines would not be opened and developed smelters shelters sm elters would not be constructed ted we are the bulwarks bulwa of the financial institutions of the country we make the markets of the world and without us temporal things would have no value the good broker is a good judge of the MERIT of any property whether railroad mine real estate or what not from a financial point of view and instead of him being the butt of criticism he should be rated as one of the guide posts of our commonwealth to the broker in conclusion I 1 want to say strive to do right in your advice to your clients and beware of the lamb who wants to give you a tip to the lamb I 1 want to say better times are coming stocks cant always go down and instead of being sheared in the new year of 1903 1 I believe it will prove cheering to you BROKERS ROW pray brother lamb these rules I 1 give that you may have a chance to live where bulls and bears are so supreme the lambkins have more chaff for cream experience courage make your tools this is the brokers golden rule the first is costly this learn I 1 like byrn byrnes ps but few a fortune earn deal lightly when your cas cash ii is small the unforeseen you thus forestall buy at the bottom if you can sell when the bulls are in the van to tips or rumors pay no heeg sure to prove a noxious weed B be e patient see your venture out r hear not the bull or bearish shout but if you think your deal is wrong the loss dont let it run ruil too long if best jump to the other side ITIs vain to swim against the tide dont be anxious to follow the throng but have mind decisive quick and strong have for a broker a man of heart one sterling and true in every part whose interests are allied to yours who nothing but the truth assures success may then your efforts crown dame ame fortune does not always frown and if she has no smiles for you with merry heart your suit renew |