do anything in
the market to assist the decline, but did buy enormous
amounts to prevent it from breaking below 60.

Every scheme known to frenzied financiers is being worked to
make it appear now that this stock is going to sell much
higher.

It is advertised broadcast that I was working with the bear
raiders and "Standard Oil."

This is a lie.

My brokers were requested by another client to publish a
statement that a prominent copper company president stated
there was $33 in the Amalgamated treasury.

Instantly the rumors were sent broadcast that I had settled
with "Standard Oil" and was bulling the stock.

This, too.

I know the man who made the statement and the high officer
of the Amalgamated who got him to make it.

And it shows the desperate position of the Amalgamated
"Insiders."

They are loaded with the stock.

I dare any officer of the Amalgamated Company to publish the
above statement over his signature.

If he does court proceedings will be begun at once.

I also dare Mr. Rogers or Mr. Rockefeller to deny the
statement made by me that they have said the stock is not
worth 50, and that Marcus Daly deceived them. I dare them.

I repeat what I have said to holders of Amalgamated:

Sell your stock now, before it is too late.

Bear in mind when Amalgamated sells at 33 that I have warned
you.

And in the meantime watch for sharp breaks in Amalgamated. I
will give no further warning on this stock, and under no
circumstances will change my now advertised position on it.

Thomas W. Lawson.</sc>
BOSTON, December 12, 1904.

The second test brought a stronger demonstration than the first. This
time the "System's" votaries were drawn up in solid phalanx; behind them
uncounted millions and unmeasured power braced to meet attack. All day
Monday the people hurled their securities at the gamesters, and with
every onslaught prices crumbled until, when the Stock Exchange closed,
the "System's" losses were represented by hundreds of millions of
dollars. The people had learned a lesson, and a hundred years more of
the "System's" trickery and falsehood will not efface its impression.

VILIFICATION NO REPLY TO FACTS

The attacks I made on the "System" were frank and direct statements of
facts. The destruction they wrought upon the ch