Playing The initial philosophy with which Markets the amateur or layman should face investment, or, in reality, speculative problems, is to look forward, points out "Barron's." There is no more sense in crying over spilt milk with respect to errors of judgment in Wall Street than there is in any other human experience. Stocks ultimately prove to have been cheapest when potential buying power was lowest, so if bargains are missed, it is more often than not because of a general impairment of buying power shared by thousands. Speculation is always looking forward and is never concerned with the past. For proper poise every individual interested in the quotations on the New York Stock Exchange must always maintain a forward-looking attitude, must always try to visualize conditions some months hence, More helpful than to indulge in the instinctive yearning of mankind for economic stability is to grant at the outset that nothing stands still, least of all the stock market. Through the impact of the judgments of thousands of security owners it reflects business and political and financial developments the world over. Consequently the knowledge of paramount importance is the fundamental character of the stock market, bull or bear. To invest money simply because cash is available is the worst mistake that can be made. Just a moderate shrinkage in principal resulting from investing at an inopportune time can wipe out the dividends of several years. Therefore, the most imperant phase of speculation is an understanding of the main tread.
Looking farther ahead, Sir Kingsley stated that definite proposals had been invited from constructors for design and manufacture of e Aeroplane What are the known facts? The Situation Germans at present possess several thousand more machines heavy machine, capable, for example, of than we do, says "Time and Tide." They are carrying ten passengers for 1,800 miles and now producing bombers and fighters of the suitable for direct flights to such cities as latest type at the rate of approximately 500 Berlin, Copenhagen and Lisbon. A successor each month. This rate will be increased to to the de Havilland Albatross—four-engined 600 when the new factory, now in course of 210 m.p.h. monoplane, two of which have been erection near Vienna, is completed. And it is built to Air Ministry order for experimental not unreasonable to suppose that within twelve months they can, if they wish, work up to a transatlantic airmail flights—is envisaged for rate of 1000 per month. The question of pilots flights over the North and South Atlantic or|presents considerable difficulties to the German direct from London to Alexandria.
Apropos of the North Atlantic Mercury, the upper component of the Short-Mayo composite aircraft, is to begin preparing for the first trial across the Atlantic with long distant flights round Great Britain at the end of June, New engines are being fitted, and for the first ocean crossing Mercury will have full fuel tanks and be loaded to the total permissible weight of 20,800 lb. This amount of fuel gives a range of 3,800 miles in still air which allows ample margin for head winds, anything up to 40 m.p.h., and possible deviations.
Government, and there are good grounds fo: believing that the wastage is high. But it would be unwise to put German first-line strength at anything under 12,000 machines in 1940. Against this we are promised 3,500 first-line machines, only 2,500 of which will be permanently available for home defence. It would, however. be difficult to exaggerate the psychological effect upon the Continent of the mass production of aeroplanes. We ought not to forget that the German armies were never defeated in the field. What broke Germany in 1918 was the feeling that the Allies had behind them the inexhaustible resources of the New World, ami that these resources would be applied until victory had been secured, As there are no lower launching components on the west side of the Atlantic, Mercury will|Sly Digs at When the Mexican Government, fly back with reduced fuel load without|John Bull in its last Note to Britain, observed that other, wealthier assisted take-off, but with the help of the countries were in default towards foreign credi-prevailing winds.
Carrying reduced fuel load tors, the American Press wes quick to see the Mercury weighs 14,000-15,000 lb. The pro-point of this little joke at Britain's expense, in-posed return route is Newfoundland-Azores- timates "Truth." Even in newspaper offices England, on which the longest hop is only friendly disposed towards John Bull the War 1,500 miles. In favourable weather a direct Deb: is still a very live isto. The result has been that an ingenious scheme is being widely canvassed in the United States. It is that Washington should sell to President Cardenas
Mexico would then hand over this scrip to the British Government as compensation in full for ihe expropriated oil properties, and gradually repay the £5,000,000 debt to the United States, which does not expect ever to get more than ten per cent. of the amount nominally due from Britain. Parliament would thea have to find the money to compensate the ai! companies.
Etiquette Two women, sitting in court BOC bb chats and.
3 at the Casserley trial, took off
powder their faces, writes Y. Y, in the "New Statesman and Nation." A policeman at once approached them and told them that they must either put their hats on again or cover their heads with handkerchiefs, I was a little surprised that the incident did not give rise to some sharp comment, for during the present century an increasing number of people have become extraordinarily sensitive about infringements of the liberty to dress as one pleases. I know a man who regarded the Italian conquest of Abyssinia with complete indifference, but whose blood boiled when he heard of an employer lecturing $n office-boy for going to work in summer in a shirt that was open at the neck. What mumblings of discontent there have been, too, in recent years over attempts to limit our right to wear what costumes we like when bathing! The bathing-slip school of thought has passionately assailed the so-called university costume as a symbol of dictatorial tyranny, and there are lovers of liberty who go further and cry: "Away with the bathing-supl" Women bathers, too, have been in revolt and have loudly demanded the right to wear bathing-costumes worthy of the heiresses to Magna Carta. With Mill on Liberty in their hands, they have nobly defended the seaside beaches of England against the intrusion of Mrs. Grundy, Hongkong Hongkong exporters under contract Dilemma 19 Ship goods to other parts of the Empire have, points out the "Eco-nornist on various occasions, been placed in a dilemma by the announcement from Whitehall, or from the colony concerned, that certain restrictions would be enforced on a date, leav-ting insufficient time for the contract to be implemented. The Colonial Office now seems to be well informed about Hongkong's export trade, and extends to it considerable practical sympathy. The Secretary of State has even promised to approach Dominion Governments with a view to extending preference to Hongkong manufactures, but all four Dominions have a rooted suspicion of Oriental labour.
Text read from the printed page and cleaned; old type leaves the occasional error.