III

I do not own any part of Everybody's Magazine, nor have I any money interest in it, directly or indirectly. I have not made a dollar from Everybody's Magazine directly or indirectly, but, on the contrary, have spent hundreds of thousands of dollars to assist in getting my story into the hands of the people.

Before my first advertisement in December, at a time when I did not know how the people would take it, and when I did not know whether stocks would go up or down, I took my chance in the open of making loss or profit and did sell large amounts of stock short, making some hundreds of thousands of dollars profit; but when in the middle of the disturbance I saw how seriously the people took my message and that there might be a great panic, I began to buy, and thereby sacrificed a million of profits. And, since then, that is, after I realized that the people would respond to my warnings, I have refrained from going short in advance of these advertisements, because I desire to keep strictly apart transactions conducted for my own personal account and operations I am directing for the benefit and safeguarding of the public. I am determined to use every means in my power to keep the people out of a dangerous market and to concentrate the billions of stocks in the hands of the "System," and am not actuated by any desire or necessity for gain. Already the "System's" votaries are tottering under their load and it is certain that in the coming months they will employ every possible means to persuade the public back into their trap. More than ever, then, is it necessary to be firm against their blandishments, for when the crash comes it will be a terrific one, and those who have great holdings of speculative securities will surely find their values cut in half. Since my first public announcement I have not made enough out of market operations to pay even the expenses of any particular advertisement.

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