X i ,
l!i(Klav,V
rliary 1, lfKlS
TUB AST1EVILLE CITIZEN:
FAGK&fcvr.n;
FINANCIAL.
FINANCIAL.
TRAPS FOR THE TRUSTING
1
4 I
Hi
LTV? OLD YEAR GO
WITHOUT REGRET
(By Associated Press;) ' '
;EYv YOBK. Dec;' 81. The stock s-
ittk.?coinmnnllv a the expiration
meear vmi wiuvrai regret, mil wttn
Ina sMnmpt l cheerful expectation for
V coming Vr. Tli c heerfiil sentiment
'Weil jBiijnp or ueina; forced to . iogree
cl was not maintained tkrouKhoot the
Moim Vhe principal Incentive io the
;eavancQ in yneee cam irom
),' where there mi Ouite a wkle-
i .feeling of eiuyniniitement over the
n tor quick improvement In ie
i im situation after the turn of the
, 1X1 we wan a pronounced recession
j! private discount rale In Lomlon
Iriulent . aSHUinpUoft that I lie Bonk
lino!i'6fneliil rate would come
Thursday, ' ' .
- -AH anoney marker was affected
rV operations incident to the tast
ptiiei.yaer but not to anything:
-X( extent that had been drendett.
of 4 ht aching tat in the day was
llanal profit taking baited in the
' taf -several days past. There wan
Hrehenslon of commercial embur
M'H a prorript relaxation Is now
f for wiVh',wtir'Wd4 facilities for
Mt mercantile credit. A process of
lion In general business la rcanrd
essential following the violent up
11 n the banking world. Last
' feare about Ihe lowest. Bond,
. Vtiales-par value including: Cop
f.'; Tobaeto, !; A., C. U. ;
IO., ,070; L. and N., 600; Penna.
, Reading, 119.100; Union Pacini',
Southern Railway, SUA; pfd., 700;
, prollha Chemical, 400; pfd.. 100;
"loo :
stocks;
( fay Associates) Praia.)
Kxprtss y
mated otner . ...
...163
.. 40Ti
... 30
.. U
.. 24
.. 70
...170
.. 13
.. 1
..
.. J74
.. 3414
... MN.
.. 70ii
.. 2
kin Car and foundry ...
kd ... ... .:.
bn Cotton Oil ... ...
Ud
fan Express ...
vuj Hide, ami Leather ...
saf ice
Unseed Oil ...
Ltfaimtotiv ...
MmeltLns; and Tlefng ...
k Mugar Refining-
f Tobacco, pfd. certlf...
..100
.. 72W
Wllllllg CO. . .
... 6
. . Sli
, .. m
... 811
,..78
... 3S
...153
...1S
..30
... 8'4
,.136 Mi
..J(I4
.. 3
.. 11
.. r.r.H
.. i
... 234
.. 61
.. 42
.. 6H
.. 10
. . nS
..14T
v..
f Coast Line , .
ip and Ohio ... ... .
IS HaVrt ' Transit
S Paiilic .... J .
Jnt New Jersey ... .
lake and'Ohlo .
J,reat Western
t jand Nortliweatern
:llMI, and St, Paxil ...
jsierniinal and Trans
"t
Blld Kt. Umls ... .
Fuel and Iron ... ...
and -Hout hern ...... ,
ft"
V"i ... ...
t ... . . . .
"1 lias ...
Ufucts
find son. '
f. IjlKii
jlKiiWHima and Went ...416
ami lite .tirnnile
60
2
I6&
.. ..'. .. 34.
4
, 110
123
Js! Securities ...
t4 Pfd ". '
if pfd ... ...
Kleotrlc
JOntrar... ... .
lonal, paper .
lonal Pump .... .
.. ... ... 62-
12"
65
tnti
iMty Smitharn ...
n and Nashville
111.!
entrai
lis and 8t, Iniia
P. 11 nd Pault. Sie. M. .
. 80
I
117
45U
.'' UHd Texas'!!. 24
.. 24
64
.1!
f
Moxlito pfd
6 42 1
04
. mi
: 64
. 76
. 42
. 25
.109
. 7
. 6.
. 1
7
.14ft
. 65
. 7
,7
.14
. M .
. 16
. 28
. 2
141,
2H
. 73
-
a and Western
Htern
iyeiea !;'.
I'lllllk
Louis
008811
dintri
ate,
. . 1
filMl 1 1
nevsj
lhallipc
A ih
.106
t CI l Jlwav .
atopobina'V.
thol(AMiw,""
I Tp 1- ' -
..no
.. 70 .
. . 36
...
.. 76
.i tt
. 1
..
. . 111
im
. .200
4:'
.. 7'i
.. 14-S
. ?.3
,.!IS
!.
'
. . as 14
. . I llUi
ntii ftteel .
amUna Chemical . ,
KO Lxpresa . .
use Klectrle . . .
"nlon
ind lke Krle
Central ... ..
atlier 4
leld
ihern . ...
Met...
1 t.
M4 I
:
I
I
CHICAGO CATTLE.
By Associated Pratt,)
Money.
fHv
lated Peets.)
31. Alotiey on
call
.ivvt -YORK,
cent; rullnw rale. l.
Sinn. . -,.' ,
at 16: .lime loans
k loeioe
act
.e; 60 d;iiys anu e
sier aim
8. six mon..... .:.rtin-g exchange.
- t- nrin lueivan-
. " . to. 10; sterling 1-exchange
iVi " actual business lV banker
fa? 464.16 to 20 for demar. n, a
t
To "5 for 60 day bills.
.? ,r silver. I
hills. .utiieie1al
to ?i
4.77 t
dollars,
mr silver. J v.; Mext-
b,. 4 i. ' .
.I d.l
JZ 1
PRY GOODa
S ' . ...... Preilt
7 ' 3?.?itT Tie.Tlie h-y g.-xls
J ftF.W i'ahoWe-J asfttfht im-
rnarket ""kand. . Mn , un
o'.et'." er . d Yanj.
( . ana .
"til
ttvm
J
xiim
11
"'1
3.
hm
w.
L, 1111 ia "Von 1 .."t"-- , " '" i i ems per nniiml nils yen r raised
fwi. 5 76 to Tw hi Ms L 1, t'-: total value .7..an..0oo irhove the
Inkers' I an! fee.L- 40 4 ', previous high water mark , estal.lih..d
'Jeeseeinl. 1-T (!MI " ln k .o ft,. !,. '" '-er, when the average price
Ch"l.v .StnV f-' , . i B,',ut lw" lier-prmnd lower.
irf 7 i a'.wi.l' .i.ed is Conflicting lnflei,oes-'ui.lted to -pro-
Vrs, 4.55 to 4.kj; light ixed. I r ,,,. VHM, in ,hr lt.. ,vi ,rui
B..,4 rJL-0' 4-50 ,0 ,,,"k ,rf j wblch lias been without precedent f,,r
B ,L. . 1. . .i.,.,.'111 volume of huslness done, hut which
feepTAV? ,"J.f0,m -in in i- I lws a" h"n hev-oinnbed with dls-
fen 3 7S a n f ' 1 . !tt"",a' 10 '! appointments ami reduce the averafe of
fZluuM, .m. to ""' I i mPrht otherwise be regarded as n
- -r- r .
AlA
Asaodj
D
BONDS.
, y Aaaoelataal eVaaa.)
!lr. 8, refinullni; i, reKiKtered . . .
do., eniiptm ,. ... ,
T. a. 3s. registered . . . ... ...
" di.i. coupon ...
V. 8. new 4a, resisterad
do. courton . . .
..Id I Vt
...H
...Iflli4
.101
'..11
...IIS
Arwrl.-on Tohaivn 4s
HI
do. 4a ... , ... 44
AichiMin awnenal 4a
K!k
i4
8Hi
Allnnlfc "-,, hi ,ne 4s .
rialtlmnre and Ohio 4a .
Hiooklyu H." T. Vv." 4a' '. ' . '.
Central of r:er,ririA r.u
. ;
. VI
, r,
. 42
. 38
. !W
, 634
. 4i
. 62,
.74,
. 03
. 4"4
. 6K
. Ml
wH
. SO
. 7
. I
:h
67V.
h. . inc... ;'... .:..:
no. 2iHi Im
do. aid Inc
Chisapeake and Ohio 4'Aa
Chiwgo nnd Alton 3H
ChlcoRO, II. and ijulncy new 4s ..
Chicago. It I, and Pacini; B.--K 4h.
do. cul. T,n
C. ...C. tj. and Hi. Uniis gen. 4a..
Colorndo Industrial :m Ser. A
Colorado Midland 4s
Civlomdo and :4outliern 4a
Cut 6s . . ..
1-enver ami Rio i;mnde 4s
Distillers' Securities (a
Krle prior lien 4s
Kite genrml 4s
Hocking VuUcy 4M-s
Japan 4a, certincntca
do. L'nd Heiles
Louisville ami Nash. Untried 4a . .
Manhattan eonsol gold 4s
Mexican Central 4a
do. 1st lae
Minn, anil St. Louis 4s ... . ,. ..
Missouri, Kansas and Texas 4s
do. 2nds
National R. R. of Mexico eonsol 4s.
New York Central gen. 3s
New Jeraey Central general 6a ... .
Northern Pacific 4a
do. 3a ... .
Norfolk and Western consol 4a ....
Oregon Hhort Line rfdg 4a
fenn. cv. 3fs
Heading General 4s .
St. L. and Iron Moun. consul 6s . .
St. L. and San. Francisco tg. 4s .
St. Louis 8'weatern con. 4a
Kealmard Air Line 4a
. i
. U
H
. 62
. 94
. MH
. 77
KVi
.11
.100
. H
. S3
. 86
iy
. Mfi
.104
. 76H
6H4
southern Paclttc 4s 82
Southern Pacific 1st. 4s certificates. . 0
Houthern Kailwav r,s
Texas and Pacific lata
Toledo, St. L. and Western 4a
Union Pacific 4s
do. c. 4s ......
V. S. Steel 2nd 6s
Wabash lts
Deb. n
Western Mil. 4s
Wheeling and Ijike Krle 4s ...
Wisconsin Central 4s
.laiian 4s
Atchison cv. 4s ... ;.. ... ...
do. Ss .... '
lnterurban-Met. 4Hs ... ...
99
..107H
. . 67
. .10114
. . 60
. . i
. .106 V,
. . 44 "
. '. S I
.. 78 '4
. . MH,
. . 05
..68
CHICAGO GRAIN
fBv Associated Prass.)
CHICAtiO. le 31. Wheat priies on
the liwal exchsnge advanced atiout ?
cents from the low jiolnt today heiauae
of a brisk demand from shorts. At Hie
close Mav showed a net gain of 1 cent.
Coin was up 1 to IVs. Outs were
higher. I'rnvlalona unclianged to cents
lower. ,
Open, High. Low. Close.
WHEAT
Iiec,
1
103
m
55 4
67
63H
52
47
40
00
ir.r
n
6ft
59
53
62
47
40
SI u, v
.,106V4
!
!. 50
.. 68 -A
.. 64
.. 62
KW'i
0t,
59
July . .
7 (JOHN
Dec. ..
Msy.:'..
Julv .. ..
OATS
May, old
May, new
July, old
4 i"i
4Vi
July, new
4(1 U,
MESS PORK. Per bh.
Jun,.. ..12.37V. 12MM 12.37V4 lS.Vi
liar.. .. ..13.06 13.12V4 13.05 13.10
LARD, per 100 lba.
Jan; 7.60 7.05 7.60 7.65
May,, .. 7.80 7.85 7.80 7.85
SHORT RIBS, per 100 fbs.
Jn. s. :t.2U .a g J.flO -J M-
NEW YORK CATTLE.
(By Associated Press.)
NEW YORK. Dec. .3!. Beeves receipts.
1.561; prlcCH sternly; western steers, or
dlnarv, 4.35; calves receipts, 115; veals,
8.00 to 9.75; western calves,. -,1.75 to 5.00.
Sheep and In nibs receipts, l : aheep,
3.00 to 4.60; lambs, 7.26 to 7.90: culls,
5.m. -
Hogs receipts, 4,211; nominally steady.
DUN'S ANNUAL REVIEW
. CBy Associated Pren.) -
NKW YORK,, nee. 3I.-The withdrawal
of 1125,000,000 frdm a few large ruat
companies,, precipitating; n season of
hoarding and sending currency to a
premium at "at time when it 'was most
needed, throughout the country. Is cred
ited Mi R. ;. Dun and Company's annual
review of trade pnbllshed tomorrow, with
having been one of the great factors
In turning the year 190 from ita prom
ise of new records In prosperity to ft
closing period , of financial disturbance
that caueed may plans for future ex
tensions of business to be 'either aban
doned or postponed. The restoration of
normal conditions, the review declares,
depends upon easier money and a re
vival of conf'.dehoe, both of which seem
nearer today at anv time since October
when the stringency began. While fail
ures were frequent during the last quar
ter 'of the year, the review points out
that if the comparison is carried back
to previous-period 1 of distress, there Is
rmien, co u for contratulatinn. In the. In-1
sol'in ; le u.ns. The review, aaya in
peu:'.'
1 'VJ .f.n ,f h In v caaes the size of
crops In 1607 Tell below some preced
ing years, high prices made the return
to the farmer much larger than ever be-
nre. 10 some extent short crops In
'other countries accounted for the high
.rr.. notably In the case of - wheat, foi
1 v I i -Ji foreigners were willing to pn
: more tliun a dollar per bushel during
I lie closing? months.
"Adding the value 'of cotton, meats,
i dalrv in-oducts. poultry, eggs Snd all oth
er Hems niised by llie agrlculmilst. the
year s total . attains tlie phenomenul val
ue of I7.41W.OOO.
Cut ton lias ruled nt s high tHisltinri
1 1 1 1 1 .1,(1111 mi toe yesT. while the latent
statistics of the crop Indicate a vicld
f 12.ooo.ooo hairs nr in per cent less!
ll.an the high record estnhllslied in Dif
previous vear. The old crop year, ended
"n August 31, wlili the largest total ever
harvested, and Willi exports exceeding
all other years, except liirt".. as to timn-
nty. wniie the liltfli sveiitKC exuort urice
moat successful Iwelve months. Although
tunes nroKe n loaer flguras than had
'en reached lMfore in about a dele.
leather kept fairly steady throughout
most of 1. year. The compal-Hthe
steadiness of leather values has been due
almost entirely to the curtailment of pro
duction. The year has been characterised as a
period of retrenchment in the shoe trade,
and prices .have undergone a readjust
ment from the top rates that prevailed
late In 19IMI. 'i,
"Clianaes In' the Iron and ateei Industrv
during 190T were more striking than
elsewhere, particularly In respect to the
volume of. production. During the earlv
nurt of the vear there was a gradual
increase In output, the weekly active ea
tweity of Mast furnaces constant I v estab
lishing new records until the high point
WHS reached on ..I11K I, with a toial
of 588.170 tons of pig Iron per week.
From this point a moderate decrease oc
curred .until Inward the end of tlin year
it was estimated that not more than
nlsiut-39 per cent of the entire iron ami
sloe! capacity was InoDeratlon. As to
prices moderate reductions necured durl
ln the closing months hut no general
change was made in list prices of stand
ard shapes of ateei,"
Icotton had a
,f.5.;c.QXJIET DAY
1 ' (By AaaoTtd Prtt.k
NPrW'TORK. lec i.The cotton
nvrket waa ery unlet today but ruled
ateadv to llrni and closed very steady at
an advance of M to J7 points, rtules ea
tiinated 150,0110. Market eened steady
at a decline of one plnl t aa advance
of I points, which was Just about the
tine wun tne nmiwiug 01 toe rdwinn
market wliere prices failed to reind
to vestenlay's kMl gains r near Ht
tlons. Ixil shnwmt m full response on ktter
posilkuis. Uuiing the early session liera
ttiera was a von.utieranie ueiimnn mmi
WH atreet and New tkieans on won
iirico soon u.ld un to a net an In of
lu I pointav but during the niKl.lte ol
the uriv Hie nwraei was at n pncura
KtnndNtlll and tlwiw were idlffht reees
sions us a twault-- of reallaiiui. Towar
llw i.Luw. the inarkat became JUthc
laim si.ilvn atiice nmm and reached lh
hiKlicsi point uf the ilay on covering by'
early sellers and moderai.1 smiport frtini
kul bulla. The close was within a point
of the top. Then Was little news from
outside Hourcc but aoine private wires
mere reHlviHl clulmiilfi ixinlliiueit nrni
ness In the Interior, and southern "tKit
markets aa ufilcjully reported were tin
clinnayd to 3-ta tiiglinr. The lixl nuir
ket llw Iba cbvaed on Wednesday. re
opening for business un Thursday nwrn
big. while IJvorpooi and New Orleans
win remain c 10 sea on uotu veanesMt17
And 'IMiuesdnv.
Keoeipts at . tlw porw today, 7,SU
OKainm 4,3i' last weea nna u,si uisi
ywif. Folr the week 140.000 against 3f.,
341 last week, and 314.492 last Year.
Today'a 'receipts at New Orleans, 4.743
agnlnat 10,s4 s"l year ana at Houston
17T973 against 20,331 laat year. ,
Knot cloned miteli mlddllna linlands.
11. Ml; jniddUng guif. ' 12.05; sales. ,400
bale, Futures steady.
upen. itign, wjw. wiosc.
fJecsmher.
Januai-y
February ,
Match . .
Aprit .. .
May;.. ..
June .. .
July ' . . .
August , .
October . .
..Si, SO 11. CO 11.30
..0.& 19.74
i0.B 10.73
10.69 loss 10.83
.10.77 105 10.77 10.94
. 10.98 10 96 10.97
.10.86 10.96 10.84 10.98
10.9;
.10.83
.10.70
. 10.05
10.90 10.81
10.9.'
10.73 10.72 I0.o
NEW ORLEANS COTTON
(By Associated .Praia.)
NKW ttia.KANSTtW. 31.Cottnn
spots were 1 eady at an advance of
on all grades.
Middling IIS; sales. 2.37.'. bales on tins
spot ami l.ffjfl to. arrive.
Futures o)cned steady, t Io 4 points
luMow the cloee yesterday aa a result
of disappointing cables. The local ex
change will I closed tomorrow and
Thursday, but the disposition to avoid
a trying over the hollilavs was nor. as
marked as it usually Is. On the other
hand..- there was considerable buying by
room traders Immediately after the open
ing and this brought about an immed
iate advance' lu prices. Ijocal sentiment
appeared to lie laraely bullish In the 11 1 1 -sii
of any great umoutit of selling and
the trend of the market was upward
throughout the day. until "at the close,
which was unlet and steady, the 'active
list ranged from 8 to points above the
close yeaterday.
rinsing bids: January, 11.16; Febru
ary, J1.14; March, 11.16; April. 1 41,18;
May, 11.20: June, 11.20; July, 11,22.
LIVERPOOL COTTON.
(By Associates' preas.)
LIVERPOOL, Dec. 31. Cloain!rTiton
spot quiet; prices live ' points higher:
American, middling, fair. 4. so; good mid
dling,: 6.44; middling, 6.18; low middling.
5.84; good ordinary. 5.42; ordinary, f.wt.
Sales. 6,000. pf which 300 were for spec,
ulatlnn and export and Included 5.900
American. Receipts. . 30,000, Including
23.100 American. Futures -opened and
closed steady; American middling, g.-o.
e, January. 6778; January-February, 6.78:
February-March, 6,7914; .March-April;
5.81; Aprtl-My, 6.82; May-June, 6.82 Si;
.Ilinc-July, 6.82; Jiily-Augit, 6.80; Aug-tist-Heptemlier,
8.7 1; Octolr-Novnmber,
6.50. . . -.
NAVAL STORES.
(By Associated Press.)
WILMINGTON, d. 31, Spirits tur
pentine Steady, 39U; receipts, 10 casks.
Itosln. steady, 2.60: receipls, 102; tnr,
nothing doing; receipt, 42.
Crude turpentine, llrm, 2.00, 08.0 and
3.00; receipts, 0. . .
ASHEVILLE PRODUCE.
Tho retail price of Produce as corrected'
dally by Hiram- LJndsey.,
Apples, 30 to 76o peck. - .
tieeta, 60 bunch.
Rreakfast Bacon, 10 to Ho lb.
Rananaa, luo do.
Beana, 10 to 16c o.uart
Brussels sprouts, 260. basket.
Celery, 6 to J60 buncb of I atalka
Cheese, (5 lb.
CMckens. 20 to 45o sach.
Chestnute, lto qt. .
Chestnuts (Italian) Uo pound.
Chestnuts, 13 ni
Cabbaie, S and lOo head.
Cauliflower, 26a each. .
Country Butter, 26 and lto lb.
Corn Meat, 26o peck.
Cranberries, 15c. qt., I qts. for 26c.
Citron, 25c.
Coffee, 16 to 40c lb.
Cucumbers, I60. each.
Carrots, 6a, bunch.
Eggs, 33a dos.
Flour. 76 to 90c sack.
FIga. lttte. to 25a lb. ., -
Grapes. 16 to 80c basket.
tUniaf 19 and 19e lb.
Honey, 2o lb.
Hay, $1.25 per 100 Iba.
Lettuce. 5 and 10c head.
Leek, 60 bunch.
Lemons. 25c dos.
I.ma beans, ,15c qt
Mint; 6i bunch.
Mixed Nuts. 20c ifi?
Molasses (N. O.). c gsl.
.Molasses (N. C., 50c gal.
Oiarges. 30, 36, 40 and iOc. dna.
Onions. 30c
Popcorn. 10c don.
. tlirslev. 5n lttinch.
Parsnlpa, 8e bunch.
Peaihea. dried. 2c
Pinenpplca 25 and 30c earn.
Potatoes. 25c peck.
Pheasants. 75c e h.
lYunes, ' 2'A to 15c.
I'linipklns. 0 to 20c each,
'Ponunis. 2.i to 60c sack.
Qunll. 12 to 15c each.
Rabbit a, loc eaeh.
ltadlshes, 5c. buncb. -Squirrels.
10c each.
Squash. 10c each.
Spinach, 20c peck.
Spanish Onions, 6c each.
Salsify, 6 to 7c bunch.
Turnlpa, 6o bunch, 10c peck.
Turnip Greene. -IOc peck.
Discipline.
A FrroelMnan as" lorn hlug lu a
large aclioiil. whore- bo hstl s reputa
lion for tuukins some queer uilstnkes
One ilay be wo diking a class which
vru mlber tllsorilcrl.r. Wlwt with the
heat toil trontlesotne lm.rs h "a
very KtiniiptKU. Having puutnliptl spy
eral boys ouil aut one Io the Imttotn
of the forui. ho at last sliouled out In
a passion. "7je wlto'e chiss go to it hot
torn!-' Imrton Scraps.
Wasted Time.
'Vot arsj' wasting your time palntlus
pictures."
"But 1 Aj my plcluresi" protested
the artist. (
"And that convluovs uie that you can
soil anything. Such being toe case,
tyhy out take- up life Inmirauce or steel
tirltlire or sonii-tljltig with Mg roorw-T
la Itr-IxiuisvUle Courler-Jotirual.
Greater Skill Employed in Fishing for Investment
er$" .-Thin Ever Was Used by n Angler in
' Entrapping the Wily Trout ,
OY HON. WILLiAM
Comptroller of
bid you eer, observe ihe fine craft
with which th xperlenred ungler
picks the fly lor- hl irout hook? The
nice, discrimination with which lie
chooses between severul daintily
feathered batts which, to the ordinary
tngler, would tpier to offer to ' the
ihy and ftcl tfotit about canal ponsl
bllltlea pf tetfiptatlonT And Ihe mor
ttrold and backward the imut htpiien
to be at that particular place and sea
son the greater the care with whlrh
the follower pf Walton will weigh the
merits of one fly against those of an
other, placing theory arid hearsay
evidence on nan aide and his owl per
sona! experience) on the other, i.
Aft the cunning and discrimination
which the expert angler throws into
the choice tit the feathero which are to
disguise the hoofc anJ tempt the trout,-
the clever Investment acneraer puts
Into the picking of phrases with which
to feather his appeals to the credulity
of the small lnvastora of the counuy.
Anglltui for trout anil fishing tor In
vestment "aucket" "have many points
of similarity and the most obvious of
these Is the art & which the bait
Is chosen rind arranged. In lh one
case tho material employed are toa-th-ers
of varlud colors; tit tho other the
skill of the workman in demonstrated
by the cunninK with which he handlea
worda--ahd phrases wblch experience
oves to be sure la their appeal, to
the curiosity, the ' Interest and the
cerdulily of men -: and ; women ' who
bave saved a few dollars and wish to
make them produitlve., ,:
In all the 'phraBWiloEy of tricky
finance 'there is no word o or
worked as "guarantee." And . tbla
mean that' experience hm proved It
to be highly ctTftf-tlva ln the hooking
of "sucKera," Dcpetift . Upon It that
nd' word or phrase aviiioves hiarked
popularity'' in the It,rature of tb
"small investment' appeal which has
tiot demonstrated Its rare effectives
ness as an axency ot-dvooutloo:
If the small lnvesttil-a of this coun
try could reach anything like a fair
kuowledge of Just ho much and how
lttle there ta lb each of these appeal.
Inc "catch words," In each phrase, the
plausibility of which hat bees sclen
tiflcally tested, tbey would be well cm
tbe way toward bclns able to protect
themselves against the cleverest and
most convincing of these appeal.
Perhaps the wetter can do the public
more service in ' analysing a feif of
tbese "star phrases", than by any
amouut of denuhclatlon of the wild
cat scheme and schemers which da
serve as harsh a characterization as
any man can frame. But, to return
tn the word 'guarantee," which ha
attained first rank in tbe terminology
of the Investment trickster, there i
scarcely a circular, folder or adver
tisement or any other' piece of litera
ture put out by tHe pot auufeae. of
small saving which doe not dlsTsls
tbe word "guarantee ' in big type and
with reiterated emphasis. If the insti
tution chapces to he of a financial
character 1 1 self ratlief than a mining,
oil or industrial concern, tho word
"guarantee," ox Its twin, "security,"
will be found Incorporated lulo the
name of the company, (let a list of
100 wildcat Investment schemes
vblch are dead beyond hope of resur
rection and H Is a ;ifa jircillctlou that
oie-liair the names vfjl con tain (tie
words "guarantee" of ' security."
These two words a e as riliniiioii to
th eye In the grni"y.rd of fake In
vestment schemes as are llmse of
Smith, Jones or Hro a, In any country
cemetery : they sdora practically
every other tombstone In tho last rest
Ing place of defunct financial frauds.
Tbe question of the value of cither
of these words In t lie title of a cor
poration or concern Is dliposed of by
the statement that there Is no legal
restriction In tbe choice uf name of
companies; the organisers are. as free
to name their flimsy ,cratum "The
Rock of Gibraltar (Juaranty Security
Company" as the parent is to saddle a
weak undersized male child with the
name of Samson. And, at , a rule,
(here ta aa much license or propriety
In giving the name of the mighty en"
my or the Philistines to a tttftited boy
aa there Is fur applying "the name
"guaranty" or "security" to a com
pany tThfCb goes out after the savings
of the ''stnaH Investor." WhyT Be
cause the companies which are really
warranted in mnklng either of these
word a part of their corporate nam
do not have to go into tbe highway
anil hedge and beat the busbc for
Try a Citizen
.
1 until e ' l:- m 1 if i 11
1 I L n
I V- ,
it 111 rs. ni 11
W pui
a- 1 1, -1- ii - 1 1
liON. WILLIAM . RIOQEUrV"
Suck-
BARftET R IDG ELY,
th Currency.
their btislueit; It corn fo them by
fore of their financial strength. They
have no need to drum it up.,
Itowever. scores of , oil, mining and
investment companies which do not
use either of these clever catch Words !
in their corporate titles cannot be
charged with undervaluing the"pulh
ing power" of stub phrases tn theit
literature this kind of baA Is em
ployed with ttie greateat skill and,
plausibility
On of the most p'onmum ways In
Which this Idea IStlrenKed Is this:
"We Ruarnnti'o yiA under all condi
tion and atalHiniet to Rtt you. with
OutrCoSr "to yourself, the highest nilir
ket price fur your holdings." Tbl
sounds very assuriug; .t carries with
(4 a proteM-tlve and almost paternal at
mosphere, and seldom fail to Inspire
tn the trusting Investor the feeling
that there Is a strong hand ready to
take the investment oft hla shoulders
the moment It threatens to become '
urden.'
Thls particular nhrase
daily
fortunate andJlcAlr-try way of 111
tratlon, for the reason that It couple
with the word "guarantee" another
term which ia a warm favorite with
tho word, artist of the get-rich-qulck
studies. 1 refer to the phrase "high
est market value."
Wherever either of these clever sig
nal to credulity I displayed tho. pos
sible ..Investor should invariably r
tnemhef these point.'
First. A guarantee It never stronger
than tbe guarantor.
Second. A security only hit a "mar
ket value" lu the fair and true aentse
or the term wher a large demand for
)t meets a large supply; there, and
there only, exists an active market;
and a genuine "market value." . i
Let tbese two propositions (which;
any reputable banker or broker will
tell yon are axiomatic be eonsldereilj
separately! There la no vlrtim la lii:
Word "guarantee." If this simple fart
could hav been firmly fixed In thj
minds of the small Investor tit thid
country they would have been saved j
the loss of millions of dollar since,
our present period of wondssftnt pros
perity began. In these day of highly !
perfected business organisation th
process of finding out 1b ' real r
Bpohalbillty of any financial or bus!
tiriii cohcern has been reduced to aa!
exact science 4nd made available U
ail. I It reasonable to suppose, un-(
dfer the condition that any com-;
pony or corporation which cinnot
tund on tta own feet cn get any r
ponslbl toncera to guarantee Iti
bond of other so-called ucurllletli
Never! Such ' aupposltlon I absurd
on the face of It and W rhstaht);
whararii bat i been dor, la not, so fat,
as I know, to b found lu actual prao
tlce. Dig down under th "guarantee'
of th company wblch ask you to la
vest your laving and what do yon
tlndT That It you do Invest you and
ybur fellow victim ir taity youf
Own guarantors; that th ftnaticlaJ
strength of th concern I realty tho
money which you and your associate!
pbur Into It i that It only financial lift
Mood come from th pur bt ibt
small investor and that when tht
stream of vitality from this our be
gin to dry tip th service of tht
financial undertaker ar In near and
Inevitable damknd. Reduced to It last
analysis, the black type declaration d!
a "guarantee" In th literature of tbt
"Ket-rlch-qulek" concern (imply meant
that It ha something to sell yon. Gen
erally It it alto an Invitation to you t
pay In advance for th flower IP
adorn your own financial funeral. J
A to the other pet phrase: "Hlg j
est market value" or .market valuti
of any kind for that matter a very'
few word will suggest tbe situation:
Excepting where a very large d;
maud meet a very largo pply n !
free, open and comparatively un '
inunlpulated market, where sate ar
reuularly made of record and those j
record" command Ihe respect and rnn 1
fidetict! of the legitimate financial pub
lic, there Is no "market value' suv
ftirit which la arbitrarily made by tfft
Iniikcr. Ho Is the market; he make
I lie price by llt simple ropesa ol
thiiinbs up ' or ' iliutiihs down:"
Tlid mim ho is. on the "sucker" llsl
of h wildcat concern recelvoer ah an
nouncviiii'iit t tint all Indication's point
to the riiticltmitiii that next week tht
slock uf ihe Honor bright company
.111 .ml nl not less than five poinlH In
advance "t Hie orcMil Jrlco." Nexl
week ho notice i hot tlin prVdlC-
lion Of an advance ha, proven true. II i
be It nnaophlstlcaieil enough be r j
oeivwa the annomicoiiu'iit with sulonio
credulity and crcdlis the author of tht;
promotion literature Hh great acu-l
nin and shrewd prophetic powers. 11 i
flexes-up. the proflis he would liavtj
niaile on the advancn and condemn'
blmewlf for not heediint tho advice ol j
the "cotifldentlar' sdvic to "buy
quick."
What he does not consider is th
fact that be Is dealing with a fictitious
market where the seller simply make
up bis mind how much he will ad
i ante the stock In question and than,
when the time comes, mtrks it tip and
makes tbe announcement of the
'sharp advance.'' This trick Is turned
aot only for the purpose of getting
larger pric per share, but mainly to
tickle the cdpidity of hesitating In
vestoaa and making sales which other
a lso coo id not have been made. .
tCoprlhl. by Joseph fl. gowles.
Want ad
S cVny
T K. DEPOSITOHV.
TOE AMERICAN
, Tho only Hunk lu AshovIM
irtAW eai .... al.. .1 ........ 1 1 "
mlr
'
i.t-iu. mi iiiiit- tn'i'imun,
iXO. II. CAHTKIt, l,n5to
. J. HAKItIM, Vh-e-Pr.
J. P. SAWYER, Pres., .. J. E. EAHKlN,.Cashit.
BATTERY PARK BANK
ASHEVILLE, N. C.
CAPITAL $100,000.00
SURPLUS AND PROFITS 100,000.00
Transacts a General ' Banking Business. : ,
Spci i.il ;iltontioii iris'on to Collections. Four per
cent iiileicst paid on timo deposits.
THE DATil
T1.l,n4M..Hl T-k r 111.11
JopOMl LlUCUti Ul Ul. ViUTUii ill
Sanitarium is Open to
tne Public.
Trained attendants are present at all
tlmas. prepared to intelligently admin-
star Turkish, Russian. Cabinet, Eleo-
Light and Medicated Hatha, Haiti
, AKoliul Rub, General and 8pe-
nosang.
Ladles will Dnd tit e accommodations
and attendants unusoally pleasing, i
and may bin Uo specln) appolnttnsnts
byhone. Sunday Treatments only by!
sppolntmenu g' PHONH 2l-R
R. H. BURKS,
DKNT18T.
Office, Maxwclton Build
inr, Hooins 1 and 2. 4
Over StmmerVStoro.
Itourss fin. m. to 5 p. m.
, - W. A.-WARD.
io North fack Square, ...Phone 448.
Electrical Contractor,
rittnrea, UH,illfw, EtK
Last
rrtr-O.I
f- il-rinirw
Ke7
'liiiiliilillliiiil'i'ii'"""" W"
- r k
4h
-
1 ,r
Id
Asheville Electric Co.
Phone 69;
. .J..1 M
Our 1908
Same
liCHt JlK'Hl
bent for tlie
in the state
least. T
The Woodlawn Cafe
"TIh-
plmc ttliere Um erllli nl ones nm utlsfv llw-lr HtH't l.n
M. VWSOX. MnniiKer, , , - "
4 bo a in Main mrrrt.
v START THE NEW YEAR RIGHT.
Eat Star Meat
It. means kc-oI health for you in 11K)8 and we wish
you happiness and prosperity. , '"i
I IM STAR MAREETjL
Phone 66 uSST-f
Beckham-Emanuei Seporlinp
Commercial Rtenogfapher, Copying
entlons. ltooneiaot Caldwell Building.' Phon 171.' ' .'-
f ; k
NATIONAL' DAMJ
IseiMwIla 1,008,000. '
loieynment fan per v (elon. Four
i.uwix M.ri;ii. vii-o-i'iH-a.-.'
It. M. KIT7.lATltHIVt"Hliler. r '
A NEW VOLUME OF
' TIME.
-1908.:
It has 5(15 poffes. all blank.
You are accorded the privilege
of writing on them. WW yon
write a story of "Success" or
"c'nllure?" , , ',-.
. 8AVK That I tlan . mnglc
word qint bprfn the door of
"suit-eaa.'1 Begirt a, bank
I'outu today! lion't welt!
lie-
Rilwlrt I Itsy, Vny
0,"A . Slurray, V. I
.Itilill A, fantpbell,"
taslile.
leslifna;etl Itcposiitsry of Vnlicd
,t - -tx, i 1 f
Btatoa Court runita.
AS
a wy of heating your room
In the evening at a "very Utile
t .
cost, tou'v only (o get a gat
radiator and th thing la don.
' Toil ran have heat whenever
. ..'V
you want, wherever you want
? oa at on a you want Ton
eta hav It la any room, aa
I Jutt as ehaap for heating aa
It I oonvenlsnt. '
1907
for nSc. and jthe jnost of tlu
and reporting of courts, spocchea and
-if .
11 itmsaaiiiiiMi'Lji v.mmmn-u,,-
OS-
.
.it ba .2!,aea .
1 '
C
i