New Britain herald., 1930-01-02

landmothcr, aft and sometimes not before, style is the expression of the era in which it is horn.'
 The second question which Miss Avery discussed was the stock mar kct. More people in America own stocks and bonds than do the people of any other country. This is due doubtless to four things: Higher wages, education, to types of finance that are developed and to employ ment ownership. Over twenty mil lion people own investments.
 The bear market and bull markc! were differentiated, the bear mar kct bears down-sclls for drop n price while the bull market pushes up and buys expecting q rise ih price. Time money was defined as money borrowed for a specified tiln", 50. 60 or 90 days, while call money was money borrowed till it should be called in which might be ar" time.
 The difference between preferred and common stock and bonds was discussed.
 Stocks and bonds arc all good t the company IS good that issues them. she said. American business has more cash in hand today th3a ever before in history The large buying of common stock has made this true.
 From 1923 to l929 was the Iarc- est bull market in hist ory. In lS37 there was q panic. President Martin Van Burcn had come into office siA weeks before. A group of business men in New York met and pro- pounded this question in all serious ness. "On what grounds can Martin Van Burcn defend himself for this dreadful panic?' In 1923. the cause of the panic was said to be the Cleveland tarifl-which was not passed till 1924. The last crash was al first laid 10 President Hooyer but he started so many wheels Of recovery so promptly that people forgot what they had previously said. At this holiday season, it was sad that there was twenty per cent less buying of luXurics, but the five an1 ten cent store men said that never had there been such good business as since the stock break. "Onc mars meat is another mans poison,' she said
 President Hoover brought the pro- Gucers of the nation together one morning in his office. and they Ill agreed to help. Bit by bit every bo@y tried to stop a panic. There was T fifty billion dollar drop in mon>Y value in stock in a week. The Ems, fish reaction to the crash was, "Ul, Huh. See what you get from buying or installmcnts," In Holland, four thousand diamonds cutters were thrown out of work, due 10 Canceil- ed orders from New York.
 Some said that the tariff discus- sion in the senate had made busi- rncss nervous and had hurt the stocN market; others said that it was the Florida boom crowd did it; while others said it was due to mob psv- choloGy; and las-ly that it was caus- ed by the investment trusts. Miss Avery then described mer- gers, investment trusts and insu: ancc. She said that there were three kinds of mergers: CD horizontal those combining like things, like cot ton mills joining forces; @ vertical, .n nj, S,tIr4SGiNn Gt m cess, from concerns dealing in raw materials 10 those which gave ou> the finished products; and (S) the circular combining things that
 would like 10 do things the same way
 Investment trusts were startel about four Ycals ago. These dre managing scmi-fiNcd and fixed ;n ycStmcntS. There are 2l2 of them n
 all, but only twelve have been dc- ccpted oa tho stock exchange. Last July one hundred billion dol lars worth of insurance was wrrt- ten in tho United States. In a de2- ade. it is predicted that that will Do
 doubled That is enough 10 pusa prices up. or pull them down. Miss Avery advised everybody to get acquainted with "Old Man Wor!;," and she gave the following { quotation: "Thc father Of success
 is work. and the mother of ambi- ton. The oldest son is common S, nsc. Some Of the other boys ar4 | perseverance,, honesty. thorougi- less, foresight, enthusiasm and CO., operation. The oldest daughter is character. some of her sisters are chcerfulncss. loyalty, courage. i economy, sincerity and harmony. ! The baby IS opportunity. Get ac- Guainted with the old man and Nou
 will get along pretty well with the