, 1907-11-26

case this maxim was backed by ex'
tremely good Judgment. He had a
good idea of bottom prices and took a
hand in the making of top prices. BY
using Judgment and being conservative
in making investments. almost any
person can take advantage OF low and
high prices. But strange as il may
seem. the general public does nothing
of the kind. Humanity is just like a
flock OF sheep. Any old bellwether can
stampede the entire number over a
precipice. When the stock market
breaks everybody rushes to sell, leav.
ing very few buyers. The few reap II
rich reward and the many bemoan
their fate for being such fools. Just at
the present time the range OF prices
is very low, but the rush to buy has
been restricted through fear IN the
part of those who have the money and
for the reason that the banks of near
ly all of the cities of the country have
been refusing to make loans or to per
nit Withdrawals OF large amounts
When there is a general resumption.
stocks may go rapidly up, but there is
no certainty that they will reach Their
old figures before the general election
next year.
A financial writer in the Saturday
Evening Post gives the following ex-
%cellent "Don'ts:"
Don't allow yourself to be frighte,
ed by noise or by what everybody
says" What everybody says Is usu-
ally wrong. Be cautious, but not COW
ardly. Caution saves in the beginning
cowardice costs in the end.
Don't be afraid to invest on yodr
Judgment, II it be a judgment founded
on intelligent observation and consid-
Grafton. Some men are SO timid tn I
they are afraid to venture on the ice
until every n else has tried 1t and
has spoiled the skating.
Don't speculate. That is the seed
from which springs our fearful crop OF
financial Ills, and 1t contains the germ
of personal troubles for you. Buy OUT
right: but don't buy anything in the
dark. Before you lend John Smith
next door FIVE dollars, you want to
know what kind of a returner John Ia,
Why lend a stranger one thousand I'M
til after you have pretty competent
! evidence that you a get it back when
you want 1t?
Don't put your money IN corporations
49, -x /, NJ, IyAnlAr1 TIM.
cleverest, the widest criminal gets
caught in the end. And though
Wall street is discouraged ove Roose'
velt's failure to put any II In jail,
it is a long road of evil-doing that does
not end in the penitentiary.
Don't put your money in any bank
or corporation whose officers or direc-
tors speculate, 10 matter how rich or
respectable they may be. Like any
other gamblers, they may let you win
for a while, but they'll do" you In the
end,
Don't keep your money In a sock or
a safety deposit. Put it in a bank
where 1t will help business, which
means your business, no matter how
small the job that you may hold. Salts,
fly yourself that your bankers are
square men and then stick to them,
panic or no panic. and there will be no
panics.
Don't so with the flood to high-water
mark, for, when it recedes, 1t may
leave you stranded. But when you
feel the tide rising under you, don't
hang back and stick in the mud. The
food always follows the ebb. and just
now the waters out.
Don't blame Roosevelt. He has been
a negligible factor in the trouble. II
YOU are simrle enough to believe that
years OF bungling and wrong-d ing d.
not eliminate in a day of reckoning,
blame it on the fellow who got off
that one about Honesty is the best
policy" He started all this loose
talk"
Another writer in the same excellent
paper gives the advice that first-ciass
vestment at the present time. The
following summary of price and yield
therefrom is given. the price quoted
being the selling price on the day the
article was written:
Railroad Price Yield
Atchison. Topeka and Santa
Fe NEUTRALITY-SUSPICIOUS.. 10 S.21
Atlantic Coast Line. so 1000
Baltimore and Ohio. ........ 70 $50
Cleveland. Cincinnati, Chica-
go and st. Louis (Big Four so 500
Delaware and Hudson. .....124 sos