davidaulloa/AmericanStories huggingface dataset:
Evening star., 1926-11-01
EVERYMAN'S
INVESTMENTS
BY GEORGE T. HUGHES.
Bulls and Bears.

This Is the first of a series Of ar
ticles explanatory of some Of the tech
nical terms more commonly used in
Wall Street. Necessarily 1t must touch
upon speculative usages, but that is a
subject the investor ought to have in
formation about even though he has
no personal interest in speculation. In
any case the line between speculation
and investment cannot be drawn
sharply. The ones merges into the
other.
The two terms most often heard in
connection with operations in the Sc
curity markets are bull" and bear.
Hardly an account of a day in the
stock market but that uses these two
words in one connection or another.
1t is said that the bulls were success
full in putting up prices or that the
bears were able to put them down or
that this speculator is bullish on this
stock or that operator is bearish on
some other one. These two words
have been used for so long time that
most stock market followers have for
gotten their origin If they ever knew
1t. The explanation most widely cred
tied Is that bull Is a person who de-
sireS prices to advance and the figure
Is that of the well known animal u.s.
ing his horns to lift quotations. sup. In
the same way a bear is pictured as
rearing on his hind legs and using his
two forepaws to pull prices down. A
man Is bullish on the market whether
Of stocks. bonds or commodities when
he believes that prices are going high
er and conversely he is bearish, when
he is Of the opinion that quotations
will decline.
Now it is easy to see why a specu-
latOr might want prices to go higher.
Having bought securities or commodi-
ties of any kind he naturally wishes
to see an advance so that he may
realize a profit by disposing of his
holdings to some one else. Most peo-
pie when they think of speculative
operations of any sort think of the
possibilities of rise in prices.
How any one might benefit by de-
clining quotations does not appear evi-
dent at first sight. There are always
more bulls than bears And just as
nobody likes q fat man, so nobody
loves a bear. And yet profits
are to be made in a declining market
just as large and much more rapidly
than in an advancing market. The
only difference is that there are fewer
spectators hardy enough to attempt
the operation. The technical process
Of making money, by specializing for
the decline, or being a bear. will be
taken up in the next article.
Evening star., 1926-11-01
lake SH|PBU|[DERS
ACTIVE THIS YEAR.
Inland Water Traffic Shows
Big Increase Reflected in
Construction.
BY j. c. ROYLE.
special Dispatch to The Star.

Special Dispatch to The Star
NEW YORK, November 1.--While
many of the shipyards Of the At.
lantic, Pacific and Gulf Coasts are
only partially busy. an exceedingly
active Winter Is ahead for ship.
builders on the Great Lakes. Those
facts indicate Enthusiastically the diff
ference in prosperity between the
carriers OF the inland waterways and
Of the oceans.
On the former wages are high and
so are profits. On the lather wages
still are comparatively low and
profits in many instances are lack
ing. There are those who say frankly
the reason is because inland water.
ways transportation effort Is treated
as a modern business, whereas ocean
transport is considered in the light
of an old tradition.
Big Freighter Ordered.
Six of the seven new lake freighters
contracted for recently Will be built
at the Iorain, Ohio. yards OF the
American Shipbuilding Company. The
other vessel, a car ferry. will be built
at Toledo. The latest vessel ordered
will be the largest ore carrier on the
lakes, measuring $50 feet over all.
with 65-foot beam and a carrying
capacity Of 1890 gross tons. More
than 5000 tons Of steel will go into
the vessel, which is being built for
Piekands & Mather, managers of the
Interlake Steamship Company, which
has the second largest fleet on the
inland seas This makes five new
boats ordered by this concern since
August, 1925.
The flow Of water-borne traffic on
the Mississippi is heavier than ever.
The Federal Barge Line is being COM
PEELED to refuse shipping in either
direction, and this line probably will
handle half a million tons OF baux1te,
ore from which aluminium is extracted,
alone, by the end Of December. Huge
shipments of Pacific Coast canned
goods are being carried up the Mis-
sissippi from New Orleans and dis
tributed to Midwestern points.
Working on Missouri.
Work on the Missouri River from
Kansas City to st. Louis Is being
pressed TO the utmost. Since June
work authorized on revetments and
dikes aggregate $2.396,470. A six-foot
channel will be available within 21a
years, according to Maj. c. c. Gee.
United States Army engineer. In
charge of the work.
The. Mississippi Valley Association,
which meets in st. Louis In Novem-
Der. is expected to ask Congress Tor
appropriations in a lump sum sur
ficient to complete the country's riv-
ers and harbors projects approved
by the Army engineers within five
wears
Evening star., 1926-11-01
PRICES UNCHANGED
IN CENTER MARKET
No Shortage of Turkeys for
y Thanksgiving Is in Pros
l. pect, Dealers Report.

Market prices showed little change
today after the Halloween festivities
OF Saturday, although decided fiuctu-
ations in a number of staple COM
modities are in prospect during the
week.
Dealers now are looking forward to
the Thanksgiving season. 1t is fore
cast that tnere will be no shortage
OF turkeys. with live turkeys bringing
40 cents this morning and dressed
STOCK selling at As and so cents.
There was a usual Monday morn
Ing crowd on hand along the market
stands. with prices practically the
sane as Saturday.
Today's Wholesale Prices.
Butter-Fancy, one-pound prints,
62a53: tub, 50a51: store packed, 3s.
Eggs-Fresh selected. as; hennery.
60a55; current receipts, 40a42; storage,
38a39.
ry-Alive-Turkeys. 40; chick
ems. 25a26: White Leghorns, 24a25;
fowls, 26a27; ROSTERS, 20; ducks,
young. 90; old, Is; keats. young. 50a
so; old. 34a40. Dressed-Turkeys,
45a50; chickens, 32a33; keats, young,
S0a90; old. 45a50.
Meats-Beef, 1Sa19; veal. 22a24;
lamb, 26a30; fresh hams, 2Sa3o; shoul-
ders. 23a24; loins 80; smoked hams,
33: smoked shoulders. 20a22.
Live stock-Calves, choice, Is; me-
dunn. 13a14; thin, 7aS; lambs. 1212a14.
Fruit and Vegetable Review.
Today's market report on fruits
and vegetables. compiled by the Mar
ket News Service, Bureau of Agri-
cultural Economics, says:
1. Jr,p =
moderate: market steady; barrels, too
few sales reported to quote. Boxes,
Northwestern, medium to large size
extra fancy, Delicious, 3.00a3.25; extra
fancy Jonothans, 2.0Oa2.25; extra
fancy Spitzenburgs, 2.25a2.40; extra
fancy Staymans, 2.10a2 25; buShel bas-
kets, Maryland and Virginia, No. l..
various varieties, medium to large
size, 75a1.00, few 1.25.
Cabbage-SupplieS liberal; demand
moderate, market steady; New YORK,
bulk per ton, Danish type, medium
size, 27.0Oa30.OO. large size, $500
Celery-Supplies moderate; demand
moderate. market steady: New YORK,
A. crates, 2.50a3 90: full crates, falr
quality and condition, 3.0oa3.25
Grapes-Supplies liberal; demand
moderate, market steady; New YORK,
a-ouart climax baskets. ConcordS'
13ha15: 12-quart climax baskets. Con
cords, 50a55.
Lettuce-Supplies moderate; de
rnand moderate, market steady; Cali
fornia, crates, Iceberg type. 4-o-dozen'
3. .00a3 so: few higher.
Potato Market Steady.
Onions-Supplies moderate; demand
moderate, market steady: Indiana,
Ohio and Michigan. 100-pound sacks,
Yellows, 2.0Oa2.10; mostly. 200.
Pears-Supplies light; demand light
market steady; Oregon, boxes, An
nus, extra fancy, 4.00a4.25.
Potatoes-Supplies light; demand
moderate, market steady; Michigan.
100 O-pound sacks, Russet Rurals and
New York, 15O-pound sacks, Round
Whites, u. S. No. /. 4.75.
Sweet potatoes-Supplies moderate:
demand moderate, market slightly
stronger; North Carolina. cloth-top
stave barrels, Yellows. best. mostly
2.25; some medium size. 200.
Cucumbers-Supplie light; demand
moderate, market steady; Florida,
square bushel crates, fancy. 4.5O;
choice. 3.00a3.50.
Evening star., 1926-11-01
GASOLINE IS HIGHER.

NEW YORK. November ! LP). --
The average service station price Of
gasoline last week is figured at 22.47
cents Il gallon against 1917 cents the
same week last year. by the Oil. Pain,
& Drug Reporter. Crude petroleum
production in domestic fields from
January l to October 80 is calculated
at 6l4.541 900 barrels compared with
631 ,295 900 barrels in the same period
of 1925. Current production IL now
at the rate of 2.199.90O barrels daily
against 2.057 900 barrels daily Il year
ago.
Evening star., 1926-11-01
AGAIN BANANA PORT.
United Fruit Co. Ships Make
Charleston With Cargoes Now.

CHARLESTON, s. c., November
R.-Charleston again took her place
as one of the banana ports of the
United States when the steamship
san Bruno of the United Fruit Co.
line docked at the Southern Railway
pier with a cargo of $4,000 lunches
uf the fruit this morning. The San
Bruno inaugurated weekly service
10 this port and a steamer is sched
lled here from Central America
every Monday, bringing banana car
goes for distribution in the Carolines.
Georgia. Florida. Virginia. Tennessee
and Alabama. The resumption of the
use of Charleston by the United Fruit
60. for the importation and distribu-
ton Of tropical fruit comes about II
years after the service was discon.
ffnued
Evening star., 1926-11-01

The New Orleans cotton market
was closed today. All Saints day.
holiday here.
Liverpool Quotations.
LIVERPOOL. November CPl.--
Cotton-Spot. good business done,
prices steady. American strict good
middling. 7.99; good middling. 7.64;
strict middling. 739; middling. 7.04.
strict low niddling. 6.64: low middling.
Ga; strict good ordinary. SO: good
ordinary. 5.14. Sales, 5000 bales, in
cluding $500 American. Receipts,
19.20O bales. all American. Futures
closed quiet. November. 6.15: DeCem-
ber. 6.7s: January, 6.S4; March. 6.9f.
May. 100; July. 7.OS; October. 7.1s.
Evening star., 1926-11-01
STREET MORE OPTIMISTIC.

NEW YORK, November l N).-A
decidedly more optimistic sentiment is
developing in Wall Street towards
conditions in the south since the
break in cotton, attention now being
drawn to earnings of Southern Rail-
roads for the last quarter, which are
expected to be large. This hopeful
situation has been aided by the $3
extra dividend Of the Norfolk q
Western, and talk is heard around
the financial district that other
southern carriers may do likewise.
The good showing of the Louisville 4
Nashville thus far this year mas
aroused interest in the forthcoming
meeting of directors at which 1avor'
able dividend action is anticipated.
Evening star., 1926-11-01
BUILDING BODIES GROW.

+ SAN FRANCISCO, November
(SpeciaD.--The combined assets of the
building and loan association operat-
ing in California have increased from
81 40, ,657 900 to $190,107 900 in the last
year. Twenty four new associations
have been formed.
Evening star., 1926-11-01
DENIES MERGER PLAN.

NEW YORK, November / LP).-H.
w. Phelps. president of American Can
Co., said today there was no truth
in reports that the company would
take over, or in any way acquire, the
f. w. Bliss Co, or that such a trans
action ever had been considered.
Evening star., 1926-11-01
BETTER THAN SODA

For fifty years genuine phillips
Milk of Magnesia" has been pre-
,crbed by physicians because it over
comes three times as much acid in
the stomach as a saturated solution
of bicarbonate of soda. leaving the
stomach sweet and free from all
Evening star., 1926-11-01

Of storage as security. The loans
are to run for 1S to 20 months.
Leaders in the movement propose
by this means to withdraw from the
market approximately 100000 bales
of the present crop. This relief, they
believe. will restore prices to a lever
where they will pay at least the cost
of production.
Ftnancers in each state where this
movement Is under way have agreed
to use their influence in controlling
the acreage for next seasons planting
and to assure reduced production by
diverting a part of the area to other
crops. Unless this control can be
assured, Mr.. Meyer emphasized, the
movement is doomed to failure.
No campaign for reduction has ever
been a failure, DIR. TAFT Butler, head
of the executive committee of the
South wide conference, declared in ex-
planning his committees optimistic
view.
Another Proposal Submitted.
Another movement for removing
part Of the current crop surplus, start
ed in Memphis but purporting to have
support throughout the South, pro-
poses the abandonment Of cotton fields
on December l. and the plowing under
of the unpicked remnant. Some 150,-
600 acres have been pledged to this
plan. which in four days Of activity
is already backed by a vigorous cam
paign.
Flowing under will be worth more
to the soil than the money value Of
the poor quality of cotton left in the
fields at the end of November, pro-
ponents Of this plan declare.
Suffering from the depression in
their markets incident to the low
Prices of cotton, cottonseed crushers
of the country are also seeking means
Of bolstering the demand for cotton.
seed meal, cotton oil. hulls and linters.
Increased Consumption Urged.
Sundry movements here and there
over the South are being agitated in
behalf of increased consumption of
the staple and it's manufactured prod
ucts. Women in some communities
have sought to organize under the
pledge to substitute cotton clothing
and household goods for articles of
silk and wool. Students of the Miss
issippi State College for women, at
Columbus, Miss, 1900 in number.
have pledged to wear apparel made of
cotton The final results of such
movements. cotton men believe, are
full of possibilities, but as yet undeter-
minable. Agriculture, always slow to
organize for it's own interests, accord
ing to the logic of expert observers.
may yet as a result Of current con-
sideration of the problem learn the
lesson of cooperative effort.
Evening star., 1926-11-01

long as the duration Of cycle OF bull
or rising markets.
It is estimated that 81 per cent OF
the individuals who seek to make
cleanup in margin speculation ult-
mately lose their capital. two per cent
break even and one per cent profits.
on the other hand, those who seek
to invest their savings safely in ac-
cordance with expert advice have
high average Of success. Money In
vested at per cent compound inter
est will double itself in II years.
One factor in speculative losses Is
the huge cost of Wall street overhead,
consisting Of brokerage commissions,
interests on debit balances, State and
Federal transfer taxes. Income taxes
on profits are another factor which
make the odds uneven. The man who
is right half tho time goes broke be-
cause of the expense Of oiling the ma
chinery Of speculation. In view OF
these facts, Edwin Lefevre feels I'M
pelled periodically to write a series Of
articles warning the public against
speculation.
Speculation Essential.
Speculation, or the assumption Of
risks, Is essential 10 tne business AIo
Of the country. but it Is luxury and
highly speculative funds should be
limited to those which the individual
can afford to lose. Every stock Is
more or less speculative. but purchase
on margin greatly intensifles the haz-
ards through getting the venturer
over extended and incapable Of walt
ing patiently through periods Of tenn
porary decline. Outright purchases Of
stocks, though fraught with business
risks, constitute a much safer pro-
cedure. and, If guided by an intelli-
gent policy, have proved since the
Civil War more suitable for long-term
investment than any other type Of Sc
curity.
In the purchase Of securities skill in
investment management is essential.
The amateur should seek out good
advice. or invest through others in
savings banks, building and loan asso-
Citations. life insurance policies, invest
ment trust shares and similar tnstru-
mentalities.
OF course, suckers are needed to
maintain speculative markets on the
present scale. but filling the role is q
thankless job. AS Julius Tannen. po-
litical economist of the vaudeville and
revue stage. observed, a pauper Is a
person who used to be a sucker.
Evening star., 1926-11-01
FISHERS PRICE INDEX

NEW HAVEN, November l tSpe
ciaD.--Prices. 1906; purchasing power
66.7: October average. 1855 and ga
Crump's. 146.1; average. 145., Irving
Fisher. Yale economist. reports.
jCopyright 1926
Evening star., 1926-11-01
OHIO LEATHER HAS LOSS.

NEW YORK, November 1 R.-
Ohio leather had net loss of $92 ,532
for the first nine months of 1926.
It's inventory is $85S. 900 lower than
on January 1.
Evening star., 1926-11-01

You'll laugh. really! 1t IS SO easy,
so simpie-Why wait?
Drop "Freezone on that old,
bothersome corn. Instantly it stops
hurting: then shortly you lift that
sore, touchy corn right off with your
6ngers-without any pain or sore
Evening star., 1926-11-01
Il 1'~ y Sto'''ach
PHILIPS Milk
W Of Ma8nesia

Instead OF soda hereafter take a
little Phillips Milk of Magnesia' in
water any time for indigestion or
sour. acid, gassy stomach. and relief
will come irStautlvs
Evening star., 1926-11-01
LEAD PRICE REDUCED.

NEW YORK. November NP.
The American Smelling 4 Refining
Co. today reduced the price OF lean
from S.25 to $40 cents per pound.
Evening star., 1926-11-01
Optimistic Over Activities.

cotton-growlng area, pointed tonight
with optimistic finger to last week S
activities in the training exchanges as
first fruits Of the rganization's relief
measures. Under the smashing blow
of the Governments record breaking
crop estimate, the market trembled,
but did not collapse. On the final day,
indeed, new buying strength appeared
and prices made appreclable improve
ment.
Experts see in the finance corpora
tions now in process of formation in
cotton States the most potent factor
in the more hopeful attitude. Slim
ulated by the visit Of Eugene Meyer,
chairman of President Coolidge's
commission for relief. and A. c. Will
liams, chairman of the Federal Farm
Loan Board and Mr.. Meyers as.
sociate in the Southern survey. bank
ers and marketing executives have
undertaken to form these companies
in order to make loans available to
the growers.
Corporations Being Organized.
Already these corporations are be
ing organized in North Carolina
South Carolina. Georgia, Alabama
louisiana, Texas, Oklahoma, Tennes
see and Mississippi, and a proposed
combined capitalization of $4,000, 900
This makes possible a loaning funt
of $16O 100000 under the authority o.
the intermediate credit banks to lent
to such companies at 10 to l on theil
own resources.
The plan of the corporations is tt
lend the grower 9 cents a pound OF
his cotton, taking warehouse receipts
Evening star., 1926-11-01

gases. Besides. it neutralizcs acid
lamentations in the bowels and
gently urges this souring waste from
the system without purging II j.
far more pleasan to take than soda.
Evening star., 1926-11-01
TRY A 25c BOTTLE

Insist upon Phillips" Twenty
cent and fifty cent bottles. any drug
store. ilk of Magnesia' has been
the l. $ Registered Trade Mark OF
The Charles II. Phillips Chemica.
Company and its predecessor Charles
II. Phillips since 1875.
Evening star., 1926-11-01

ness. Ii works like charm, every
time
A tiny bottle of "Freezone" costs
only few cents at any drug store,
sufficient to rid your feet Of every
hard corn, soft corn and corn be-
tween the toes and caliuses-Try III
Evening star., 1926-11-01
SOUTH Mobiles
IN COTTON CRISIS
Brains and Money Summoned
to Avert Menace of Eco
nomic Disaster.

=
MEMPHIS, Tenn. November l.
Brains and money of the South. sum-
moned by threat of economic disaster,
are mobilizing forces of relief from
Texas to North Carolina in an or
ganized drive to meet the emergency
in cotton prices and restore stability
to the bale -burdened market.
Energetic determination had dis
placed cries Of loud distress and busi-
nesslike calm succeeded the panicky
fear of early October as machinery
for financing retirement Of the current
surplus was being devised in every
State of the American cotton belt.
Success for the Southwide cam
paign for guaranteed reduction Of cot
ton acreage next year was predicted
here as agricultural experts viewed
the progress Of the convass for COM
plete census Of the industry, whose
purpose is to pledge every farmer to
curtail planting
, 1926-03-05
MISS CHRISTOPHINA FILIX
will please call at the
CHRISpIANSTED POST OFFICE.
JERK TYPE
LUBRICATING SYSTEM FOR
70 II D s.


MO car more deserves the advantages
- of high pressure fabrication than the
Ford. The Alemite (Zerk Type) Lubri-
eating system is ideal for the purpose.
It's easy to install; quick and convenient
to use. Luhricate your Ford every 500
miles. You'I cut your repair bills aud
enjoy your car more.
The above system, and other Alemite
products, including Gascolators, oil, and
hose for Alemite Guns in stock.
We car supply fittings for all makes
of Cars.
Call on US and let US show you the adj
vantages of high pressure fabrication.
E. & G. STAKEMANN,
Sole Agents for st. CrojG.
C~hristiansted, St. Croix, December Is,
1925.
, 1926-03-05

DUBLIC notice is hereby given
/ that the Annual Examinations
of applicants for teachers licenses
will be held on March IT, %, 80
and 81, 1926.
All persons desiring to take these
examinations shall apply at the
office of the Assistant Director OF
Education or at the Office of the
principal of the Junior High School
in ~FreQeriksted for an application
blank. This blank must be filled
out and returned to the office of
the Assistant Director of Education
on or before March Is, 1926.
II. ]. BENEDICT,
Asst. Director of Eduoatjon
Christiausted. ST. Croix, February 10
1926.
, 1926-06-16
NOTICE FOR PUBLICATION
(Publisher)
Department of the Interior,
U. S. Land Office, at
Lander. Wyoming
May oath, 1926.
NOTICE is hereby given that

NOTICE is hereby given that
THEODORE B. ANDERSON
of Painter, Wyoming, who, on Sep
TENDER 29th, 1921, made forest
homestead entry, No. 013443, des-
cribed as follows:
Beginning at Corner No. 1, which
is North 0 deg. 1 min. East, 14.7O
chs. distant from the section cor
ner between sections 20, 21, %
and 20 and which intersects the
closing corner and corner No. 8
of H. E. S. No. lao, thence North
SO deg. "a min. East, $50 chs. to
Corner No. 2; thence South 2 deg.
IA min. West, 1919 chs. to Corner
No. 3; thence South 9 deg. GA min.
East, 1891 chs. to Corner No. A;
thence South SIS deg. 16 min. West,
32.45 chs. to Corner No. 5; thence
South ~ deg. 81 min. West, 1916
chs. to Corner No. 6; thence North
35 deg. 81 min West, 4.82 chs. to
Corner No. z; thence N. SO deg.
81 min. East. 26.1S chs. to Corner
No. 8; thence North 80 deg. IS
min. East, 1876 chs. to Corner No.
8; thence North 2 deg. 80 min.
East, 31.93 chs. to Corner No. 10;