Show THE WIRE TRUST 9 During the past week the tho steel steel i and wire trust closed down twelve of its mills and th rw about ten thousand housand operatives out of employ employ- ment mente The reason given for this procedure was that tho the had more goods on its hands bands than it could dispose of and that it must curtail production and dispose of its ts surplus This was followed by bya y ya a reduction in the price of all kinds of wire and wire nails of abut about twenty five per cent The announcement of President Gates of his contemplated action created a flury in the tho various shares of the steel trust on the tho speculative market causing causing- them to suffer a decline of many points After the tho decline had taken and the victims who had been heen dealing in stee steely stee and wire shares had lost several millions it was learned t treat at Gates and his hi friends had sold the the market short to o a tremendous ex extend end thus raking into their own pockets several several several sev sev- eral millions of dollars by the transaction transactions Thus it will be bo seen that although tho the mills millA are closed and the tho laboring men are thrown out of employment with their revenue entirely cut off and the speculators fleeced to the tho tune of millions that the trust magnates have bavo in reality made more money out of the tho transaction than they c could uld have made by continuing to operate their mills upon a successful successful successful success success- ful market National National Watchman |