davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1906-07-04
BEARS CAUTIOUS
 AS THEY PROCEED
No Encouragement for lnaugur-
 alton of Bull Movement
CALL MONEY STILL TIGHT
Holiday Interval Inclined the Profes sional Operators to Close Up Out standing Contracts Anywhere.
 Less Talk of Gold Imports.

New York, July 3-With liquidation car ried to the extent it has been in the recent stock market, the bear operators who have followed the decline were iu- olned to exercise caution as t proceeded It was the common opinion that today s buying came in large part from uncovered bears. The holiday interval impending tomorrow inclined the professional opera tors to close up outstanding contracts anyhow. There was an evident subsistence also of the selling pressure on the market which was in full force at the time of the previous closing, and which was con tinued in the early dealings today. The bears were inclined to buy for covering purposes even on this first break in prices and they pushed their demand when the light pressure upon the market was per- ceived. This covering movement, how ever, was conducted in an exceedingly 1esurely fashion, and gave so little evi- dence of urgency or disquiet as to offer little encouragement for the inauguration of an aggressive bull movement against the short position in the market.
 Professional sentiment still shaped it. N.NiA hp liA1 AANN liietN eiiiJ ANA3ttsANA AetiA9 in prices would invite renewed liquidation The call money market remained light with no sign of marked relaxation by the return to the market of dividends and interest disbursed. Talk of relief for the money market by gold imports was not so confident owing to the failure to se- cure any part of yesterdays large ar rivals of gold in London for New York account. A further fall in the sterling eX- change rate at Paris today emphasized the competition of Paris for any available gold supply in London. Exchange Was Weak here, however.
 Discounts in London made a further de- cline It is now believed that last week s reports of expected large engagements of gold in London for importation to New York were based upon an assumption by local bankers that the secretary of the treasury would renew his aid to the move ment by advances of government deposits to save interest while the gold is in transit
 Current discussion points with some dis satisfaction to the plan of the government authorities in the determination of banks returning deposits made with them against previous gold engagements II seems to
The Birmingham age-herald., 1906-07-04
Hester,s Weekly Statement.

New Orleans. July 2-seeretary Hes ters New Orleans cotton exchange state ment issued today covers the monthly i movement to the close of. June
 Compared with last year it shows ae- cline for the month in round hguFes or 215,00o bales. compared with year peI2Ie i last. an increase of 116.O00 and with l9B' an. increase of sSS000.
 The total for June was 26O,oi6, agalhsI
 i75.0o3 last year. 1ll2l1 year before last and 172 s69 same time In l93 The movement from September to the close of June. inclusive, shows receipts Nat all United States ports 7.652i8. against 9.60G1sS last year 707062S year before last
 and 7.6e9.716- same time in l993' overland i across thc Mississippi. Ohio and Potomac rivers to the northern mills and Canada 922.5s6. against 1051193 last year &9ooo year before last, and 1.06il l4o same tune in 1898: southern mills talzings, exclusive
 of quantity consumed at southern out- ports 999500. against 19SoO0 last year 1 .766 eco wear before last. and l,Sl3o00 same
 time in 1908; and interior stocks in excess
 those held at the commencement or the season 79126. against 1f7967 last year, 5,- i 279 year before last and q decrease or zz'- 553 under same time in 192s. ] These make the total movement of the
 cotton crop brought into sight during the
 ten months ending close of June, loea3,-
 949. against 12 27S93iS last year, 9.S2S.90S i year before last and 10524S0s same time i in 1905
 Northern spinners took during June lel- ] 295 bales, against 119,s03 last year and Sl,-
 075 year before last, increasing their total l for tho ten months to June 2,2Sl,lbl' i against ,. 1926 last year and 2.03l79O the i year before This makes their average
 weekly tallings for the season 52'7e l against 50StS last year, and 47005 the year
 before
 i Foreign exports for the ten months of
 the season have been 6,239,S6l bales showing a decrease under last season or l 1.sG6G and an increase over the same
 period year before last Of 3s612l. The
 loss in foreign exports during June, com-
 pared with June last year has been l99,- l 6S7 and the gain compared with the same period. year before last III 3Sl, Stocks at the seaboard and the twenty
 nine leading southern interior markets on
 June were 503. .3S9 against Col .SS0 the same
 date last year, and ,655 the year be-
 fore
 Including pont and interior town stocks l left over from the previous season and
 the number of bales of the current crop
 brought into sight during the ten months
 the supply has been il eos, ,4S0, against 12,- ] 901.8l5 last year and 9,9967O7 the year i before.
 l Up to close of June last year, 99,a per ] cent of the cotton crop had been marketed
 and for the same ten months In l9l! the percentage of the crop brought into sight
 was 9s.1S. and for the same time in 1903
 the percentage marketed was 9S.11
 The amount of the crop brought into
 sight for the ten months from Septem-
 ber to June, inclusive, Is 2,OS50O0 under
 last year, S25,000 over year before last
 and 129.O 600 under 1903.
 The monthly statement will now be dis
 continued for the remainder of the sea- l son.
The Birmingham age-herald., 1906-07-04
eibert 6 clay,s Market Letter.

Options in Liverpool closed easy at a decline of 6 points, the loss thus oc- casioned having been brought about by a somewhat heavy liquidation of the long interest in anticipation of a favorable es- innate of the condition by the govern ment. Spot sales 5000, at 1 points decline
 In the earlier trading of the local ses- sion price changes were more or less cratic, but with an upward tendency owing to the fact that opening prices hay ing shown a good decline, satisfied shorts were quick to realize their profits. There after the market ruled quiet and steady at d slight decline until the issuance of the governments figures of SS.3 for the condition of the crop up to the 2oth of June. Whereupon a reaction set in but after xnature reflection the trade seemed to arrive at the conclusion that these figures were not so bullsh as had at first been considered. and under the influence of free offerings prices again wore away.
 As far as present day prospects are concerned however the governments figures are of little Importance since their statement covered a period during which a protracted drouth existed and which was only broken by timely rains on the night of the 25th and also on the follow ing day and both private and official reports subsequent to the date of eomptl- ing the estimate have all denoted suf- fciency Of moisture, even though unequal in distribution, and d very generally eX- cellent condition under which the crop is now progressing.
The Birmingham age-herald., 1906-07-04
Local Staple Groceries.

Sugar-Granulated. Sc; r C. 41ac.
 Flour-Fancy patent. s5.75; standard patent. $5; straight. $f9O
 Coffee-Green, 11Q1Sc; Arbuckles, $15 55; Porto Rico, $15. 55.
 Meat-Dry salted ribs, sac; dry salted rib bellies 10Ae; extra clear, 9%e; hams. fancy, 153se medium 1l3se; bacon bellies. I11ke; California hams, 9&c.
 Lard-Leaf, 10c; compound lard, Sc Molasses-Centrifugal 30435c; sugar house, 40c; Georgia cane. 34c.
 White Peas-Per bushel, $2.
 Beans-Navy, S2.25 per bushel; hand picked Lima, 7o.
 Grits-92 pounds. SIPS.
 Meal-"Jim Dandy" SIPS.
 Macaron 6Dsc.
The Birmingham age-herald., 1906-07-04
coffee Market.

New York. July 3.-spot Rio coffee steady; No. invoice, 77s; mild steady; Cerdova, 9@12h
 Futures opened dull at unchanged prices but eased off during the session under scattering of liquidation and European selling which was undoubtedly promoted by a crop estimate by a leading European authority placing the probable Rio crop al 36J0.000 to 4,e00090 bags. and the Santos crop at 975O.Oe0 to 10.250.000 bags against a total crop of 1o,225o GOO during the year just ended A large estimate for July re- eeipts also influenced the market, which closed steady but at net decline of 5 m1o points. Sales for the day were l,000 bags; September GAO; December. 6.G00 .65; March, 6s506 90; April, 69507; May, 6. .95G7. .05; December, TOT 10.
The Birmingham age-herald., 1906-07-04
Bonds.
Money on Gall.

New York, July S-Money on call strong. 21a07 per cent; ruling rate, 6; last loan, 22; closing bid. 2la offered at 3 time loans, dull and firm; sixty days, 4la ninety. days, 4&@5; six months, 5IaM2i
 Prime mercantile paper, 51s per cent sterling exchange weak, with actual busi- ness in bankers. bills at 4S4 406l4S450 for demand and at 4S1 .604Sl 65 for, ,sixty-day bills; posted rates, 4821a@lS51s; commercial bills, 4S1Hs; bar silver, 64ssc; Mexican dol lars, 501sc; government bonds, easy rail road bonds, heavy.
The Birmingham age-herald., 1906-07-04
Fruits and Produce.

Iemons-Per box. extra fancy, s5.50dG Watermelons--15 -15a35c. Cantaloupes- $2@2.5 90 per crate. omatoes-Alabama, basket crates 75c0Sl.
 Alabama Beans-Per crate. green. 759s1. English Peas-SI %
 Corn-25 and 20 cents per dozen. Ifmes-Per 100. 75cGtS1 Peanuts Fancy, per pound, 6c; No 2 5c. Cabbage--New crop, 2c lb PineapplesA3o 36 and 70 sizes, 2.25G2.50. Cucumbers-Pe bu, 75cm$l Sduash-Per bu., 75c0S 9. Peaches-Per crate, 75c4S.75. Egg Plant-S2d2. 50. Cultivated Blackberries-S1. 75d2. Raspberres. s301. UuSkleberries, g. 5048. New Apples sl@1.5o bushel. Onions-New crop, pound, 2ha3s. New Potatoes-Per bushel. 6Od75c. Eggs-Per dozen, fresh, s15c; candled, l6a17.
 Hens-35c: broilers. 15a30c. Butter-Fresh, s@1oc; renovated, 2lc: creamery, 25c.
 Cheese-Full cream, per pound, 14d115c.
The Birmingham age-herald., 1906-07-04
Dry Goods.

New York, July 3-The usual mid-sum- mer dullness was aecentuated in the dry goods market today by the near approach of the holiday Buyers were scarce in the dry goods district. and business remained steady and quiet on heavy goods. Print cloths are unchanged. Cotton yarn prices are slightly weaker Jobbers have sur passed last year in most departments on the six months business just closed, wash goods and fine-combed yarn fabrics being particularly well sold.
The Birmingham age-herald., 1906-07-04
Nem orleans Cotton Market.

New Orleans. July 3.-spot cotton closed quiet with prices unchanged; middlinS 11ls: sales were 2S0 bales on the spot and 9 to arrive. total of 255.
 Futures opened steady at net decline of 465l0 points. The government crop re- port was a disappointment, being under the estimates previously made here, and prices immediately rose 5m9 points on it's receipt. On every advance however shorts offered fresh lines, robbing the market of the advance expected in view of the report. and forcing it down until nearly all the first rise had been lost. Near the close prices approached the high est of the day. The closing was steady unchanged to points lower on the old crop months and 1 to points higher than yesterdays close on the new months.
The Birmingham age-herald., 1906-07-04

which 5a0 were for speculation and export and ineuded 5700 Americani receipts sfu hales. including 1610 American.
 Futures opened steady and closed easy American middling. good ordinary clause, July. 5.75; July-August, 5.lo; August-sep- tember. 5.63: September-October, 5bl Oc- tober- November, 5.4gd5.50. Novemher-pe- cember 5.49; Deeember-January, 5.l9i Jan uary- February, 5.49a5,5a Februafy March. 5.5l: March-April, 552a5.03 Apfil- May. 5.5I; MaN-June. a-ll.
The Birmingham age-herald., 1906-07-04
Feed CfuH

Corn-No. mixed. 73c; white. 75c, Oats-No. mixed, 43e; No. ? white, 52c; white clip, 54c.
 Pure wheat bran, 80 or 100, s25. Cotton seed feed meal s25; prime. s2s Corn chops, $1 .25.
 Corn hearts, s1.25.
 Shorts-1OO pound sack, s1.25. Hulls-sO-lb c. s.. 80 ton; 2O-lb. c. S., 400 sack; 100-lb c. S.. g ton; 10O-lb. c. s. 45e sack; 75-lb sack hulls. Soc
 Hay-Cholce timothy, SZS; No. 1 timo- thy. $22; Johnson grass. sl5; clover mixed, s20 50.
The Birmingham age-herald., 1906-07-04
interinr Mouennent.

fIonston-Quiet. middling 1O7s net re- eeipts. s7s gross receipts, SIS; shipments, 952; stock, 16l19
 Augusta-steady; middling, llA; net re- oeipts, 70; gross receipts, 70; shipments 300: stock. 27513.
 Memphs-Quiet and nominal; middlins, 107s; net receipts 123; gross receipts, l2S; shipments 799: sales, 5Oi stock, ll469.
 St. Louis-Quiet; middlng, l07s; gross receipts, 2l5; shipments, 2l5; stock, 27955. cineinnati-Net receipts, 16; gross re- ceipts, 1G. stock 6lS1-
 Jouisville-Frm middling, 1l8
 Total today: Net receipts, l0Sl; gross receipts lSO7; shipments, 2i66; sales, Ill; stock S9-S37.
The Birmingham age-herald., 1906-07-04
Chicano Change.

Chicago, July Deterioration in the condition of the spring wheat as shown in report made by local crop expert was chiefly responsible for q firm close in the local wheat market today. Fina quotations. howeyera on the September option were practically unchanged. Corr was unchanged. Oats showed a gain ol MaAc. Provisions were up 21k to .2oGf221ae
 The leading futures ranged as follows:
The Birmingham age-herald., 1906-07-04
THE LOCAL MARKETS

The local spot cotton market was re- norted steady but inactive yesterday. Good middIing closed unchanged from Mondays quotations at l02s cents.
 day of about the usual activity was reported in the local produce market yes- terday. The quotations of prices on fresh nroducts are not materially changed.
The Birmingham age-herald., 1906-07-04
cotton Seed Oil.

Memphis July 3.-Cotton seed oil: Prime crude. 29a291ae; prime summer yellow S2lae; prime meal, S27; prime cake, s27
 New Orleans, July 3.-Cotton seed oil; prime, 2ic, crude, 29c
 New York July 3.-Cotton seed oil steady; yellow, 36a36H2e Petroleum steady Rosin firm. Turpentine firm. co 61fnIoc.
The Birmingham age-herald., 1906-07-04
Eourtb of July Collaboration.

On account of the above occasion, the Southern Railway will sell tickets at rate of one and oae-thifd fare for the round good returning until July 8. 1906 For further particulars apply at Southern Railway office. Birmingham, Ala. 6-2l-14t
The Birmingham age-herald., 1906-07-04
Live Stock Market

Chicago, July 3.-Cattle receipts, 5500; market slow but steady; common to prime steers, s4Gl6.10; cows, S36f4.50; heifers, g 75 Gl5 .25; bulls. $2.75042 9; calves $5.55065O; stocl1ers and feeders, $2. 750l4 O.
 Hog receipts, 16,000 market strong to 5c higher: choice to prime heavy, S6. S5d6. 90; medium to good heavy, S6. .650GS5; butcher weights, S6 S566. 90; good to choice heavy mixed. SC 75616.85; packing, $6d6.SO.
 Sheep receipts, 10000: market strong; sheep. $4.25a6. 8; yearlngss $Ga7. 40; shorn lambs, s 4G6i6.
The Birmingham age-herald., 1906-07-04
ss,st1,s49.s7

Avondae Mills ...... ...... ...-..105 ... B'ham lee Factory ...... ........14O . Btham Realty Co. eom.........170 1s0 B'ham Realty Co.,, pfd .......... S5 90 B'ham R., l.. 3s P. Co, com...... 95 96 B'ham R. l.. x ?. Co.,, pfd..... loo ... Bfham Trust and Saving Co.....2l0 250 .Bessemer C. I. x L. Co............ 24 26 Citizens Savings Bank ,..... ....125 ..
 Commercial State bank ..........1oO 103 Dimmiek Pipe Con-. ...... 90 94 East Lake Land ,Go. .......... 95 100 Ensley Land Co....., ....... .... First National Bank ..............27O 275 Georgia By Elee Co.,, conn.,. .. 103Ia Georgia Ky Flee. Co. pfd....-.. 20 9l1s Hotel Hillman .-.... .....- ....-.lOO ... Jefferson County Savings Bank 225 ... Little Rock Ky. K Elec. Co CO.,. 73la =. Little Rock Ky. x Elec. Co pfd.100 =. Memphis St. Ky Co, conn.,. 6 ... Memphis St. Ky pfd............. S2la ... Nashville Railway .....-..-....... 46 zS Nashville Railway, pfd.......... S21a =. New orleans R. & It. Ce., com. 8 34 New Orleans R. x It. So., pfd.. s1 S2 North Birmingham Land Co.,. 46 50 Peoples Savings Bank...........1 .135 15O Traders National Bank..........1 100 105
The Birmingham age-herald., 1906-07-04
Metal Market.

New York July 3.--Iondon tin irregu- lar.. spot, 15s higher at e175 10s; locally quiet; spot. 39939 25.
 Conner. 5a10s lower in London; spot Gs1 1Os. futures. eS0 10s; locally nominal. IS 5o0i1a for lake; electrolytic, IS. 25d1s.G2lz; casting. 1Sa1S.121A
 Lead unchanged. GIG 12s 9d in London and lower at 5.750t5.SO locally
 spelter unchanged at e27 in London; dull locally. 5.95N6
 Iron 49s I'd for standard foundry and i9s lo1sd for Cleveland warrants in Eng fish market: locally unchanged; No. 1 foundry. northern, SIS. 256ils. "a; No. foundry. northern ST 75Gt1s.25; No. 1 foundry. southern. sf7.5Oals; No. foun- dry, southern. $l7dl7.50.
The Birmingham age-herald., 1906-07-04
rreaslIrv Statennent-

Washington. July S.-Todays statement of the treasury balances in the general fund, exclusive of the general reserve, shows available cash balance S17S,560, ,74S; gold coin and bullion, $9i074,557. Gold certificates. s426S9. .250.
The Birmingham age-herald., 1906-07-04
Local Cotton Market.
Local Iron Market.
Local Securities.

(Corrected by Cltizens Sayngs Bank, Stock and Bond Department. Phones 94)
 Bid. Asked. Ala. Consolidated, com............. =. Ala. Consolidated. pfd........... % 92 Am. Trust & Savings Bank......275 =. Atlanta and B'ham lns. co....... 31 Ayondale Land Co..............n0 ...
The Birmingham age-herald., 1906-07-04
New orIeans cotton Futures.

New Orleans, July S.-spot cotton closed quiet; sales 255 bales; low ordinary, 7af nominal: ordinary. sA; good ordinary 9-16; low middling. 1O3s; mlddllng, 1lls; good middlng. IFS; middling fair. 12 noni- nal; fair 129s; receipts, 1256 stock, 63,O76
The Birmingham age-herald., 1906-07-04
clearinos and Exchanue.

New Orleans. Jnly S.-Clearings, $S.935 S22; New York exchange. 50c discount; commercial paper, 6 per cent.
 Memphis. July S.-Clearings, S670 945 bal ances $9S.3S7
The Birmingham age-herald., 1906-07-04
LixsrnooI cotton Market.

Liverpool, July S.-Spot quiet; prices points lower: American middling fair, 6 .5e; good middling, 6.28: middling, G.06; low middiing, 5.ss; good ordinary, 5.6S; ordinary, 5.&.
 The sales of the day were 5000 bales, of
The Birmingham age-herald., 1906-07-04

20. Resin firm sales, 1895; receipts 2639; shipments, 1570 stock. G297l; Quotations: A, B, c, E 50; D, $39o E, S4.1O; F, $l20; G, $4.25; II, $4.4O; l, $4. 10; K, $4.50a4 60; M, s46o614. 70; N, s4.S5; window glass, $4.95; water white, $515
The Birmingham age-herald., 1906-07-04
Hides and Wool.

Hides and Wool. Green salt hides. No. l. 10lA011c. Dry flint hides, No. 1. 1Ga618c. Dry salt hides. No. 2 14m16c. Clear washed wool, 35M36c Unwashed wool 25M2Gc. Burry wool 14016c. Sheepskins, 15075c. Tallow. 4lt4i9c. Eeeswax, 3c.
The Birmingham age-herald., 1906-07-04
seahoard Air Line.

Baltimore. Md, July 8-seaboard Air Line common and preferred, nothing do- ing.
The Birmingham age-herald., 1906-07-04
Naval Stores.

Wilmington. N. C., July S.-Spirits, tur- pentine nothing doing Sales after hours, 5Gstc; receipts, 47 casks Rosin, nothing doing: receipts. 5s. Tar, firm 200; receipts, 15.f Crude turpentine firm; hard. S2.15; dip, Sl.30; virgin, S4.60; receipts IFS.
 Charleston. July 3.-Turpentine and rosin, nothing doing.
 Savannah. July 3.-Turpentine firm at 57s4c: sales. 40. receipts. 157; shipments
The Birmingham age-herald., 1906-07-04
RESOURCES

Loans and discounts. .$5, ,198,835.99 OVerdrafts. .. 1,434.44 U. S. bonds and premiums 1,07a, ,5oo.00 Other stocks and bonds.. POS. .S92. DO Alabama bond account. 42,5oo.00
 CASH. In vault . 8 GAS ,537.16 With banks 2,590,99O.28 With U. s.
 Treas. =. 50,159.o0- 3,es4, 4,6a6.44
The Birmingham age-herald., 1906-07-04
Ssh Annual Camp Meeting

July II to 19. Seventh Annual Epworth League Assem- bly,. July % to August j. seashore Camp Ground (BiloxD Miss. All Methodist leaguers and friends and others interested are cordially invited to attend these meetings.
 LOW RAILROAD RATES.
The Birmingham age-herald., 1906-07-04

 Flour-Easy
 Spring wheat-No ? s2aslc; No. 3, 7SQ 83c; No. red, S2A@Sie. Corn-No. ?, 52l4e; No. yellow, 521aas4e. Oats-No. 2, 3s9sc No. white, 40I@4lhc, No. white SSA44Oc.
 Rye-No. ?. 6ge,
 Barley-Good feeding, 4od48c; fair to choice malting, 46052c
 Flax Seed-No. l, $1O9; No. 1 north western, $1.12la; prime Timothy seed, S4.05. Cloyer-Contract grades, $1125 Short Ribs Sides-Loose, $95509.60. Mess Pork-Per barrel. S17 45d50 Lard-Per 100 pounds, SS.s5. Short Clear Sides-BoXed, $9S71s0I10. Whisky-Basis of high wines, $l.29. On the produce exchange today the but ter market was steady; creameries, 15a20c; dairies, 11Lad1Se.
 Eggs Steady; at mark, cases included, 12@1na; frsts. s1fl9 prime firsts, 16c; ex- tras. 1Se.
 Cheese-Steady, 10kd1115e
The Birmingham age-herald., 1906-07-04

$9,s11,e49.37
SCHEDULES

Showing the arrival and departure of passenger trains at the Union station. 
 lEffentlVe Inne l. 19n7
The Birmingham age-herald., 1906-07-04
Louisville and Nashville Railroad
Birmingham Mineral Railroad.

Arrive from Depart to- Blocton .....1O:5O am Blocton .... 6:20 am Bloeton ..... 6:35 pm Blocton ... :00 pm sBlocton .... 6.00 pm sBloeton ... 6:3O am Anniston via Anniston via
 Gadsden .10:25 am Gadsden :. 40 pm Anniston via Anniston via
 Gadsden .. 6:35 pm Gadsden .. S:35 am
The Birmingham age-herald., 1906-07-04
FIRST NATIONAL BANK
OF BIRMINGHAM, ALA.

Statement, June IS. 1906.
Elk City mining news. (Elk City, Idaho) 1903-1913, 1906-06-16
MINING SCHOOL GRADUATES.

MINING SCHOOL GRADUATES.
Mining Reporter: At this season OF
the year the daily press is filled with
accounts of graduation at all western
schools of mines. Prosperous years
have been experienced, large classes
graduated and increased gifts made by
friends interested in the cause of min
ing education. The occasion recalls the
aphorism attributed to the EnglishS to
the effect that cit takes a million
pounds to educate a mining engineer.
Lest the graduate Who has already been
oppressed with many fees, misconstrue
the statement and think that his ex-
penses have only just commenced, it
may be explained that the difference
between the cost of his college course
and the million pounds mentioned is to
be paid by his early employers, he gain
ing experience at their expense.
The statement, while not highly COM
plimentary, has nevertheless modicurif
of truth in it, and refers to condition
which must. of necessity be so. Exper7
fence constitutes the most important
part of the mining engineer education,
and the. high value of it is sufficiently
indicated in the words quoted. 1t could
not be purchased by the student, and
yet it must be acquired by him and paid
for by someone else, and until he has
acquired it in large measure his educa-
ton, or at least the expensive part of
it, cannot be said to have been COM
pleted. The, value Of it is further re-
fiected in the first fees paid, the young
mining engineer, as compared with
those received by the experienced, man.
The former must content himself largely
with the experience as remuneration,
meantime making every effort to keep
down the cost of his education in order
that he may quickly attain the position
occupied by the latter