The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

Thursday, April 25th, 1929 It is so easy to rid yc;ur skin of pimples, blotches, blemishes, Just apply the pure coolâ€" P°""Z"a Clear and stainless, its Sm c OeE A t ie s n zCC3 P blotches, blemishee, Just apply the pure cool«= Ing liquid D.D.D. Clear and stainless, its goothingy elements penetrate the skin an quickly drive away the irritation. ITCHING 8STOPS INSTANTLILY. A %85¢ bottle proves its merit or your druggist gives your money back. 4Â¥ * on on W m-‘ D.D.D Clears Skin of Blemishes Mascioli Motor Sales Reg‘d. Guaranteed by CANADIAN GENERAL ELECTRIC CO., Limited 1 U K A N L \\\\\- * 7z 27 . »â€" Z7 z7 ~ 2P \\\\ Z . .\ . Z7 .<\\~\... + 24. ze P ze \ ZZ \ SIAZJFL \\ 7 CENERALG@@ELECTRIC Refrigerator Red Seal Continental Motor Bendix Four â€" W heel Brakes Morse Silent Timing Chain Full Force Feed Lubrication Passenger Cars Fours and Sixes from $675 to $2095 fJ.0.b., Leaside, Ont. Standard Factory Equipment T axes Extra _ J JuL iCBE * gives skin health (boeD.D.D Hoap.) MOISLEY AND BALL o "Makes it Safe to be Hungry" For the sake of your family‘s health you should have a General Electric Refrigerator. It ensures health. ful, scientific refrigeration â€" always below 50 degreesâ€"and makes possible a great variety in your menus. All the machinery is on top and never has to be oiled, and there is the maximum shelf area for food storage. Phone or write for booklet describing the different models. CANADA NORTHERN POWER CORPORATION LIMITED Controlling and Operating Northern Ontario Power Company Limited Northern Quebec Power Company Limited Timmins, Ont. RUGBY TRUCKS IN % TON TO 1%4 TON CAPACITIES Prove Durant Quality Yourself ! ADVIGE ON SPEGULATING IN THE MINING STOGK MARKET Stock Broker Gives Some Views on the Matter, with a Word or Two About Buying on Margin There should be general interest in the following article by a Toronto stocx Make your comparisons, today! OU see the attractiveness of a Durant car as it passes down A] thestreet .. .. you hear about its economical service from the owner . . . . you become interested when his testimony is so often repeated by other owners. There is a Durant car awaiting your inspection at your local dealer‘s; also the opportunity of verifying what you have seen and heard by taking it out, yourself. : BUILT BY DURANT MOTORS of CANADA LIMITED TORONTO « CANADA broker as it appeared last week in The Northern Miner:â€" Nearly every man has, at some time or other, had his try at the stock marâ€" ket. Some are "cured" permanently by an early unprofitable adventure. Others are more fortunate and prosper. Perâ€" haps some of the latter cash in their profits and stay away from the but many others make the fatal misâ€"| take of thinking that because they have been lucky once or twice, they are born| market operators. This places thein in W. J. Kenny Ansonville, Ont. a highly dangerous position. The shrewdest market men make mistakes and quite probably the recognition of the fallibility of their own judgment has played no small part in the sucâ€" cess of some of them, not so muck in avoiding mistakes, as in minimizing the consequences of them. A majority of those who speculate: in shares, mining and otherwise, are in and out of the same stock within a short time, some even buying and sellâ€" ing on the same day, and these range from the large experienced operator in Wall Street to the odd lot buyer of mine shares. This method furnishes a means of livelihood no doubt to the select few, and as a form of gambling offers quite a few attractions to the man in the streetâ€"comparing quite favourably with roulette or throwing dice, as an exciting and fascinating game of chance. Some men are so constitutâ€" ed temperamentally that this is the only type of speculation that appeals to them. Others do not realize that there is any other type. But in some cases the man compares his profits with his losses, analyzes his mistakes, and comes to the conclusion that in the longâ€"range method lies his greatest chance of sucâ€" cess. This method is practised by not a few and is continually advocated by some professional market advisers. Success in it requires chiefly two things, capital and patience, and of the two strangely enough it is the latter that is more often lacking. It is obvious to all that the price of a company‘s shares must fluctuate to a great extent in accordance with thc present or anticipated prosperity, or otherwise, of that company. The terms "good times" and "bad times" are suffiâ€" ciently familiar to the average man for him to realize that the majority of corporations are prosperous or depressâ€" ed at the same time. It is therefore natural that we should have long conâ€" tinued stock market advances and corâ€" responding declines, in which almost all stocks participate to a greater or lesser degree. In times of prosperity there may be a few industries which for special reasons do not recover from the previâ€" ous slump, and in time of depression one or two may not feel the pinch, and THE PORCUPINE ADVANCE, TIMMINS, ONTARIO The foregoing contains some of the elementary data upon which the longâ€" range speculator may base his operaâ€" tions. As in all other hazardous unâ€" dertakings, a conservative line of action will naturally entail mostly policies which may appear negative. is down approximately to the level reached by it in the bottom of previous cycles. He may then analyze the econâ€" omic situation and decide which indusâ€" tries he thinks are the most depressed and which are the ones that should participate most in the ensuing recovery But inasmuch as it is the average of prices he is guided by, he should stake his fortune in the advance cof the averâ€" age, and spread his purchases over a large number of stocks. Many a man has lost heavily by putting all in one stock, when a distribution of purchases would have produced fair results. the shares of such companies will most likely move against the general trend. Let us suppose that our speculator has put a fair amount of study and thought into the question of stocks, and by a stroke of fortune finds himself in possession of actual cash at a time when the stock market has had a proâ€" longed decline, and the average price After supplying the principle of averâ€" age to his choice of stocks, the specuâ€" lator may apply it again in the manner of purchase, either by buying "on scale down" from present levels, or by buying so many shares of each stock at intervals over a period of six months or so, below a certain limit. Having used up all his funds he then waits for the advance. It may not start for six months or more, and in the meantime his holdings may show him a paper lossâ€"one cannot always buy at the absolute bottomâ€"but he will have the consolation of a high interest reâ€" turn on his money, and the knowledge that he holds stocks at prices 30 or 40 per cent. below those at which many people were eager to buy them a couple of years before. Every long advance in punctuated by minor reactions, and in order to save himself worry and disregard these, the speculator will need to maintain his proper perspective. The first part of a long advance often passes without a great deal of public notice, but the nearer the market apâ€" proaches the peaks established in preâ€" vious cycles, the greater appears public confidence. It is now time for our speculator to turn his attention to the liquidation of his holdings, realizing that although the stocks that he is parting with will probably go a littie higher, they will assuredly some day sell much lower. Having completely sold out and placâ€" ed his funds in some safe liquid form, such as bank deposits, well secured call loans, or sound shortâ€"term bonds, he has now to go through probably the most difficult part of his operation, difficult because of the many temptaâ€" tions which will surround him to forâ€" feit his liquid position, which position is the only safe one to occupy after a continued advance. As in most other operations, the work of preparation is the most essential, yet at the same time most tedious, unâ€" inspiring and apparently the least proâ€" ductive, so in longâ€"range speculation is the maintaining of a liquid position for a long time, while the market reaches its peak, perhaps remains relatively high for a year or so and then gradualâ€" ly seeks lower levels. inspiro ductive the ma When a long advance cu‘minates in bull market, the magic word "profits"| is heard frequentlyâ€"mostly paper proâ€"| fits, though these may be, and not alâ€"| ways realized, yet they are very temptâ€" ing, and our speculator needs all his| selfâ€"restraint to prevent himself from being again drawn into the market at high levels, consoling himself as the market slips away, that it is only a You will sleep more soundly than ever before in your cosy Third Class stateroom on a Canadian Cunard ship. Soft mattresses, spotâ€" less linen, warm blankets, feather pillows, bedspreads, clean towels, large mirror and washstand, plenty of soap and water, cleanliness everyâ€" where . . . and trained stewards to wait on you. All this is part of Third Class service on this famous Line. This service means that you eat, sleep and play as younever did before, on the voyage over and back. Make sure you are going to enjoy the trip by sailing Cunard to the Old (fg'.v;ntry. Book through The Robert Reford Co., : Limited, Cor. Bay and Wellington Sts., Toronto (Tel. Eilgin 3471), or any steamship agent. Also Tourist Third Cabin from $184.50 return, and $102.50 one way _ ut CANADIAN SERVICE Weekly Sailings,from May 3rd, to Plymouth, Havre, London, Belfast, Liverpool and Glasgow, in conjuncecâ€" tion with the Anchorâ€" Donaldson Line. temporary reaction, only to find himself later on at the bottom of the long swing and along with many others, loaded up with stocks at a loss. The most common causes to which failure of amateur speculators may be ascribed are: / (1) Ignorance of the relative level of stock prices. (2) Concentration on one stock. . (3) The idea that to make money one must be in the market all the time. (4) The desire to make money too quickly. (5) Being too easily interested by temporary public sentiment. (6) Following tips. (7) Overtrading. Every article written on the subject of the stock market emphasizes the fact that the public is prone to buy at the top and sell at the bottom. The obviâ€" ous conclusion is that the man on the (6) Following tips. (7) Overtrading. Every article written on the subject of the stock market emphasizes the fact that the public is prone to buy at the top and sell at the bottom. The obviâ€" ous conclusion is that the man on the street can never tell what is the top ana what is the bottom of a market. Neiâ€" ther can anyone else. But what a man can do, with a little study, is to comâ€" pare average prices with those prevailâ€" ing in years past, and in a rising market The minor fluctuations in the market | are admitted by men with years of exâ€"| perience to be the most difficult to foresee, yet it is by these that most speculators attempt to profit. Forcastâ€" ing the action of this stock or that durâ€" ing the next month is about as safe and profitable an occupation as betting on which of two sparrows will fly from a fence first. It is this insistence on an immediate profit and consequent imâ€" patience on the part of the speculator if he fails to realize it that frequently always sell somewhat below what w ould | militates against his success. appear to be the top, and after a de-[ cline buy rather above what would apâ€" pear to be rock bottom. Some people advocate reliance on price levels alone, Sufficient stress has already been laid ‘ upon the importance of acting in a manâ€" ner contrary to public opinion after a continued rise in the market. It will others are inclined to disregard thfâ€"‘m.pxobflbly be contended that nearly all and concentrate their attention up01~ cther factors, such as industrials, finâ€" ancial, and economical statistics. All| of course have a bearing upon the fuâ€" ture course of stock prices, but owing to interpretation of these indices someâ€" times becomes guesswork. Dependance on relative stock price levels will never lead one far astray. Although some speculators have made consistent profits by studies and operations to one stock, there are many instances in which this leads to trouble. A man may consiGer a stock a good buy at 50 and act acâ€" cordingly. If it drops to 40 it would naturally be a still better buy, so he averages, continuing to buy as it drops further. The danger is one of mental attitude, the wish becomes father to the thought, and if the original judgment was wrong, the speculator may be in for a severe loss. The only man who should put all his eggs in one basket in this way is the man who is carrying the basket, and is actually engaged in the enterprise in question. After all he is not so much a speculator as he | seems to have no bottom. the development of hidden factors, the| range speculator confining their of the policies laid down here are negaâ€" tive. This is frankly conceded. But the positive action comes when, once in every three or four years, the market The longâ€" apparently changes his coat and buys stocks when even the most junior office boy in his broker‘s office could tell him he is inviting cerâ€" tain disaster. To many of his friends he has unaccountably changed from a pessimistic "piker‘" to a visionary, blind to the most obvious indications. A few of them, however, envy himâ€"they realize the opportunity, but haven‘t the cash. It is an old saying that tips could break the Bank of England and these seem most numerous near the top of a is a business man putting more of his capital into his own business. The safe way for the outsider is to "sell the marâ€" ket" or "buy the market," ie., capitalize public sentiment by taking the reverse position. Since by far the majority of amateur speculators are "bulls" aiming to make their profits by buying stocks and sellâ€" ing them at a higher price later on it‘s probably true that the public considers that stocks spend most of their time going up. But they spend just as much time going down. Stock market adâ€" vances seem normal things to the averâ€" age man, but the declines are unnatural calamities which require some explanaâ€" tion. Many a man who, having overâ€" stayed his market, looks indignantly for the malign "bear‘" influence, would conâ€" sider it a waste of tme to spend an evening trying to account for the sunâ€" «/ kss y i e x e d * >Â¥ EIGHT BODY STYLES: 1210 10 1365 vr. 0. s. TORONTO INCLUDING STANDARD FACTORY EOQOUIPMENT kFlmghlurul Taxes Extra)y 213 DoDnGe BROTHERS SIX ce‘. "A penny saved ‘s a penny earned‘ is a good motto for the longâ€"range speculator during a high market or a declining market., There are long periâ€" ods during which a man should not try to make money, but should aim to keep it by not losing it and the best way to do this is often to stay out of the marâ€" ket altogether. The longâ€"range specuâ€" lator should realize that while near the top of a market this policy will freâ€" quently cause him to pass up opportunâ€" ities that would have been profitable, it will on the other hand, protect him against a much greater number of It is an old saying that tips could break the Bank of England and these seem most numerous near the top of a » .\\7\‘ a* .\‘ ":S“‘/â€":â€"\:\‘:L_)p\\“ »â€"â€">f\\‘- fzi\\'o ,)‘; ' °C /)-"’; ')'\’ """\/ /,/’L\//" 3 o c a < *4 M B ds y aevayAprAr l > e Mess t~ > ) Sf S S PS M n M Nn uesd o m ie t h s h LN L LC 7/A LA yq e e e 5 5 2y f 2y § css f k d n C CS s . y "ys << nlesicca > es zioi Tran td d id s se us s | l // * ormcomme nroo KS SAAA L : 1HLlL 3 N . UV [ n en w ' ‘ t 0: hss f eR it A %4 ! SHEET STEEL CEILINGS ~ add the touch of prosâ€" GALVANIZED C GALVANIZED t tores; SIDING for M haeut:. Perneay, SHINGLES Outside Walls etr::n a.lsio{i fog schoolg, Plillnd the firelgazard. Attractive to look at. s, kitchens an t on over old roofs. Inexpensive. Easy to t;ztbgggn:)s‘.’ Eals IES to lay. Good ut on over old walls. putupover 0 4 g, permanent, ith Buildin plaster. No dust inexpensive. Use NO * 6. Pabti: rlitter. Eas Other. of Brick, Reckace Y to deanan f oice of Brick, Rockâ€"face a " The permanent fireproof paint. Canâ€" o the and Clapâ€"board patterns. not crack roof‘:: t‘hh; cg«t or fall off. GALVANIZED SIDING for Outside Wal Attractive to look Inexpensive. Easy ut on over old v BVith building put on over old walls. ith building paper, warm, windproof. Choice of nck Rockâ€"face and Clap-board patterns. Timmins, Ont. CHRYSLER MOoOTORS PRODUC tterlight. Permanâ€" nt also for schools, halls, kitchens and bathrooms. Eas toput upoverol / plaster. No dust orlitter. Easy cerned, for months at a time, when stocks seem to be going against him that makes the ordinary speculator try for "quick turns." There are many speculators who will never adhere to these principles, anc many others who may do so for a time, but looking for quicker results, will lose faith in them. Inasmuch as the sucâ€" cess of the system depends on the exisâ€" tence of speculators who do not follow it, the more there are of these, the greater and surer the rewards will be for those who do. End the fire hazard. Put on over old roofs. Easy to lay. Good looking, permanent, mtgxpensive. Use NO er.