Bisbee daily review., 1904-11-30
THE sHRswp TRADER SAYS:


 Once upon a time there was an old ''nigger' named Ephriam. Hewas a very deyout man and his long suit was praying as loudly as pos,bie. Each night before going ko bed. Uncle Eph shouted his prayers. He always wound up by assuring the Lord that no matter when He called,
 Uncle Eph would be ready anl glad 10 go. One night some of the boys thoughc they would test the old mans sincerity, % quietly waiting outside his door until he had ended an unusu- ally fervent prayer, and just as Uncle Eph finished imploring the Lood to come and take him away, one of th9 boy rapped on the door. Instantly
 he light went out and a trembling voice akod, who da-?" The Lord" came the reply in sepulchral tones.
 'Wha. wha. what yer want, Lord?" came fa.ntly from within 'Unc
 Sph." was the reply. Then the old hypocrile shouted, Uncle Eph dean i've here no mo. dat old nigger done move out las week"
 Now just imagine Uncle Eph to be the early biro who bought all the cheap stocks several months ago and then invoked the aid of. not the Lord, but the public" Stretch your imag- nation frEher and fancy yourself along with the o her boys. curious, enough to test the sincerity of the sock market maker. Remember how at first you scoffed, then wavered be tween doubt and fear, then cautiously entered the wide open gate into the lan6 of promise where the foliage is eights and quarters, and the ten. twenty. thirty. forty, fifty points prof
 t the r.pe fruit. You are already stuffed to the bursting point. yet you want more. At first every tree was loaded but now you have to find" them and they are getting scarcer. Your guide has long since disappear ed, bu, a beautiful siren known, in
 he inner circles, as the "Cres. of Che Wave" is turing you on 1owarcs a great building. the lower stories of which seem deserted. while the upper ones are the scene of grea. activity. What is that you ask? That, says the siren. is the speculative structure. Who built it you aik? Two very wise nld men, replies the siren, laid the foundation and built the first few sto- ries. We call them Uncle John D. and Uncle J. P. but they moved out. All those people you see up there are strangers ike yourself who drifted in anC were carried along by the tide. am, the Crest of the Wave. the froth: I mark the edge of the high tide where the drift-wood is ieft way up on the beach. Knock upon the door and you will get no response. but ride With ma 10 the upper story and you will find millions of people rad ing in the very material with which the foundation of this structure was laic. When il is all gone the beautl- sul edifice will collapse and Uncle John D. and Uncle J. P, those very wise old men. will return and lay an other foundation PrcC .sely like this one ''Out e this same material" We are now in the month of Deceip- Der. the most dangerous period in the year. Money may become a factor and 1 don't like to advise buying stocks when the money rate is to be | considered. I believe 1905 will bring he greatest bull market in the hiSto. | y of the world. but there must ba | a resting place somewhere, and in my : Jdusement, it will come ID December | cOincident with very high prices for | wheat a; all primary points, and stiff | money rates in New York. Of course l may be all wrong. The market may | run right on through the year despite natural conc&ions which initiate Agains5 making extansive commit ments on the long side during the un- certain and dangerous month, but if I Lces there will be a panic in the spring.
 Let me tell you little story of Jay Gould, "a true story" Upon resump- ton of specie payment ir 1879 Jay Gould though. it bad thing for the and sold stocks That was his privilege and he exercised it. He was w1cIg, awfully wrong. It was not until he mada enormous losses hat ke saw his mistake Then he turned and went w.th the tlCe. Now
 may he just as wrong TOW with my opinion as he was then with his mon ey. The election of Roosevel.. the pig crops selling for big prices may Eve an additional impetus to a mar. let already strong enough to satisfy my but the mos hopelessly optimis- ic. Don't sell your stocks because he Shrewd Trader has kicked over he traces, simply want the thou- ;ands who read my views every week o under stand that 1 can see both ,iGes and have the courage to say so.
 I am well aware that the specula- i've fires are lighted, that the combus- ion Is perfect, that the mechanism works smoothly and the great ship is speeding onward under forced draught u a rate which promises to eclipse all -ecorcS- know that and believe the nal CT hand at the helm will bring