date by which time the buyer hopes there will be a further advance enabling
a
him to make profit. But what happens?
After the professional operators have supplied the demand for
under time bargains
they begin at once by small cash sales at low prices to depreciate the shares:
in fact, they "bear" them and by that are able to buy at a low price the stocks they previously sold at a very high one, and on which, needless to say, the time buyer never realizes his profit.
The operation of ... means does this regularly and with ease, and his followers without money or reputation follow suit.
The position of the simple investor is now unenviable, he has bought stocks without any means to identify them, and "the gentlemen in the street," (and this is what they literally are) are utilizing these stocks, which are not their own, to manipulate affairs for their own benefit.
I feel strongly that if the commercial morality of Hong Kong is to be of good odour, this terrible evil must be stopped, and the only means of doing it without injury to