The Public Attitude Towards Speculation

Reprint from The Pitfalls of Speculation by Thomas Gibson 1906 Ed.

THE PUBLIC ATTITUDE TOWARD SPECULATION

THE public attitude toward speculation is generally hostile. Even those who venture frequently are prone to speak discouragingly of speculative possibilities, and to point warningly to the fact that an overwhelming majority of speculative commitments result in loss, while those who venture not at all, and consequently are incompetent to judge, dismiss the subject with the statement that marginal trading is gambling, pure and simple, and is therefore pernicious.

Those who enter into the subject a little farther, and attempt to adduce more specific argument against speculative possibilities, lay stress upon the statement that manipulation, trickery and wholesale deception render it impossible for the outsider to enter the field safely or intelligently. These statements, usually unsupported, and frequently insupportable, are accepted by the prejudiced multitude as gospel truth, without any attempt being made to examine their foundation or correctness.

So far as the question of gambling is concerned, it would be entering a very large field to attempt to define just what is and what is not gambling.

The idea that the man who buys a certain stock outright invests, while he who buys on margin gambles, is a popular fallacy. The speculator purchases in the hope of an advance, and if two purchases are made for parallel reasons, one for cash, and one on margins, both purchases are speculative.

That speculative fluctuations are largely used as a basis for gambling operations, is unquestionably true, and possibly an acceptable dividing line may be drawn on the following hypothesis: gambling, in the general acceptance of the term, is founded upon blind chance, the equal possibility of certain events occurring or not occurring; this is modified in some cases by the exercise of superior skill in such games as admit of skill; but fundamentally, gambling is wholly dependent upon the equal chances of two or more opposed individuals.

The trader, therefore, who takes “flyers” with no knowledge of his subject or the properties in which he deals merely gambles on the ultimate rise and fall of the market; but the trader who after careful investigation and study purchases a property either outright or on margins because he has reasons for believing it to be cheap and that it will enhance in value is a speculator.

Those composing the gambling element are in the majority and it is, needless to say are the greatest losers; in fact their losses foot up almost the sum total of speculative deficiency and consequently the sum total of the gains reaped by the real speculator.

The statement that most public commitments are made on no better foundation than a mere guess may seem a trifle bold and the counter statement may be made that few people purchase a stock without some reason for so doing. This is admitted on the same basis that the man who bets on a certain number at roulette because it has not recently appeared or in hope of an immediate repetition considers that he has a reason for his action.   Thus a great number of amateur or semiprofessional traders buy a certain commodity for no better reason than that the stock has declined or more frequently from a participation in a period of speculative intoxication.  They can give reasons for their ventures, but they are without foundation, and are no more worthy of consideration than the reasons given by the roulette player for “staking” upon a certain number.

On the other hand, the speculator, with a carefully acquired knowledge of the normal value of certain properties, fully posted on conditions in general, and those affecting, or liable to affect his favorite property in particular, patiently waits the opportunity to buy, not at a normal price, but at a price far below the actual value of his property.  He knows that speculative prices move in cycles, more or less pronounced and prolonged, and in the revolution of this cycle he will be given an opportunity not only to purchase at a price far below a normal valuation, but to sell at a price far above it.

This looks simple enough in the telling, and is merely the operation of Anselm Rothschild’s famous advice, “buy cheap and sell dear.” But when the statement is made that over 90% of public purchases are made at the approximate high tide of a market and about the same percentage of sales at the approximate low tide, in short, that the most simple and reasonable methods of making money are not only disregarded, but actually reversed, a great field for analysis and discussion presents itself.

Manipulation and trickery are vastly overestimated: popular prejudice continually accords to such causes events which were brought about almost wholly by the composite folly of public participators in speculative affairs, and which could not possibly have been effected by any individual interests.

That these stages of undue depression and inflation are to some extent assisted by the shrewd minority is true; but the great work is that of the public itself.

That the money-making minorities foresee, and take advantage of these extremes, is unquestionable.  They are the cause of all speculative movements of importance, and through the errors and losses of the lambs the accumulations of successful operators are made possible.

After a careful examination, covering a period of ten years, and a study of the methods of successful and unsuccessful traders as shown in some thousands of speculative accounts, the following facts are adduced:

1st – The greatest causes of loss in speculation are ignorance, over-speculation, and carelessness, of importance in the order named.

2nd – The popular fallacy that business methods are not applicable to speculation is wholly erroneous.

3rd – Not one speculator in a thousand applies ordinary business precautions to his trades, nor founds his ventures upon knowledge of any value.

4th – The correct trader has little to fear, and much to gain from manipulative tactics.

5th – While extremes of prices move in irregular cycles, no “system” for judging changes is possible, or tenable, as such mechanical attempts to forecast price changes do not contemplate changed conditions, or provide for accident. The advocates of the “Chart System” are legion, and yet it is impossible to find a single permanent and substantial gain made by this method.

6th – The general idea that the actual value, and probable future of a property cannot be intelligently based, is erroneous.

7th – The greatest speculative profits are made in stocks, and the greatest speculative losses, in staples: wheat, corn, cotton, etc.

8th – There are certain technical stages, or conditions of markets which are followed by certain invariable results, the study and recognition of which is valuable, and not difficult. These “ear-marks” are in some cases very plain, and do not in any way smack of the “systems” deprecated above, but are more or less visible signs of effects following certain causes.

9th -Almost every general idea of speculation is the exact reverse of the truth. Sometimes this is caused by false reasoning, but most frequently by the innate false appearance of the market quotations. For example, greatest activity and interest in a market occurs around top prices; while dullness and stagnation are invariable when properties are unreasonably low in price.

10th – Persistent short selling of stocks is fashionable in a certain class of semi-professional traders, and almost invariably results in loss.

11th – Tips are illogical. Any wide-spread dissemination of advance information as to a projected movement would defeat its own object.  The so-called “tip'” is usually mere guess work. The general consensus of public opinion on this subject is correct, i. e., tips are valueless; and yet the public continues to use them largely as a basis of trading.

12th – Too great facilities for obtaining information and executing orders, is, to the ordinary trader, of no advantage, and is frequently a source of loss. (The accounts mentioned above show the most intelligent trading to have been done by traders who were without facilities to interfere with their own original plans through fright or confusion.)

13th – Speculation is a safe business when business methods are applied to it. The changes in prices of standard properties offer yearly greater opportunities for profit than any other field. That is to say, for reasonable profits, not for the amassing of fortunes on small capital, in a brief period, but for steady accumulation of money and valuable knowledge. So great are the opportunities offered by speculative changes that with proper methods and self-control, the poor man cannot afford to overlook them.

To make these rather radical statements ill a general way is wholly insufficient; each statement must be supported by the presentation of convincing precedent and clear reasoning, and it is the purpose of these articles to point out the reasons for the failure of the majority, as well as the methods by which the minority succeed. This done, the knowledge so gained must be insulated into useful channels, and combined into flexible rules, and inflexible laws.

It is not claimed that it is possible to set down in print a formula for speculative success: much depends upon the individual. A man is not a machine, and will be frequently swerved into paths which he, himself, knows to be dangerous, and an individual incapable of clear thinking and correct application of accrued knowledge, would not succeed at this, or any other business.

The most that may be hoped for, consequently, is to point out certain facts which will lead to a correct line of thinking, or open the way to profitable discussion. To this end, the various causes of loss mentioned will be discussed in turn.

IGNORANCE, OVER-SPECULATION, ETC.

IGNORANCE, over-speculation, and the innate false appearance of market stages are the principal causes of speculative loss, and are, in truth, the principal causes of the great cycles of speculative extremes. These extremes are variously attributed to specific causes, affecting certain securities, to good or bad business conditions, or to accident or manipulation; but the fact of the matter is that the wide swings of the market are brought about almost wholly by the errors and ignorance of the great body of traders known as the public.

Conditions change, accidents occur, and manipulation exists, and all have their effect; but unless these factors were supplemented by alternate waves of general over-confidence, and subsequent undue depression, the fluctuations in market quotations for standard properties would be confined to such narrow limits that the repeated opportunities to purchase such properties at prices far below, and to sell them at prices far above a normal value, would be eliminated.

Almost all the commitments made by public traders are made on faith, or on misleading surface appearances. The advice of people absolutely incapable of passing intelligent opinions, is eagerly listened to and frequently acted upon; large dividends on low-priced stocks are made the basis of optimistic views and shallow arguments; the fact that a certain stock has dragged back in a generally strong market,—usually the best evidence in the world of something radically wrong with that particular stock,—incites what may be very undesirable purchases. The development of certain long-heralded events, such as the payment, or increase of a dividend, is considered a good reason for the purchase of the security affected, when in fact it is no reason at all, as Wall Street always anticipates and discounts probable good news.  These and a hundred and one other reasons, mostly ill-founded, are the groundwork of the great bulk of public ventures, and the individuals who operate on these unreliable signs, with full knowledge of the fact that the public has been misled by them time and again, seldom attempt to investigate the intrinsic value of the property in which they have assumed and paid cash for a proprietary interest. Such an investigation is usually considered useless or impossible. If this were true any participation whatever in speculative affairs would be folly, but fortunately this common opinion is itself the result of ignorance.

Over-speculation, the composite result of ignorance, greed, and false appearances, may be classed as the primary cause of wide variations in prices, for as much too high as a market is carried by rash participation at high prices, just as much too low will it sink in the ensuing decline. The ill-advised traders who rush in at high prices with inadequate capital are the first to suffer; their overthrow topples over other weak accounts, and so on down the line, until the last of the wobbly row of bricks has fallen.

It might be contended that when this process of elimination had brought prices of good properties to a fair valuation, purchasers would be easily found, and such might be the case, were it not for the fact that the great lights of speculative finance know full well that the technical position of the market is still bad; that many venturers, already financially weakened by the decline from abnormal to normal prices, are in a position which they can be forced to abandon; that the pendulum of prices Will swing to the other extreme, and they refrain from buying at normal prices for the good and simple reason that they know they can eventually buy at prices that are very low. Perhaps these low prices will come about unaided, through the internal rottenness of the technical situation; perhaps the desirable consummation will require a little assistance, such as the passing of a dividend or two, the closing of a few mills or the laying off of a few men, all of which actions can in the future be pointed out as good and conservative business moves, but which will be received by the public with anger and disgust; for so dense is general ignorance on this one subject that the payment of a dividend is always considered good, and the reduction or passing of a dividend is always considered bad; a bond issue, for whatever purpose, is an unmixed evil, and so following.

The professional bear element also assists in the final downfall of prices. They will be well aware of the assailable condition of the weakened long interest, and will attack the market for the purpose of reaching stop-loss orders or forcing crippled speculators to sell. These same bears may later be hoist with their own petard, for a chronic bear is a chronic loser, but meanwhile they assist the successful campaigners materially by forcing a temporarily lower level of prices and supplanting weak long accounts with a short interest, which is in itself a great advantage to the bull element.

So familiar is the experienced speculator with public weakness that he is usually found operating in direct reversion to prevailing sentiment.  He knows by careful and clear-headed investigation the normal value of the property or properties in which he trades, and at such time as he finds the current quotations far below this fixed point and the public inveighing bitterly against his favorite issues, he begins his purchases.  It does not require much shrewdness to deduce, the fact that if a certain standard security has passed out of public, or weak hands, it has of necessity been concentrated in the strong hands of the giants of finance, and that the purchaser at such periods is at least in good company. He has no fear of any abnormal shrinkage in the value of his holdings, as such sudden shrinkages are the result of panic or financial necessity, to which the present holders are not subject. He also knows that any manipulation must now be for the purpose of creating higher prices as the next great speculative move will be to resell the cheaply purchased properties at high prices and the public being absent there is no one to manipulate against. He is certain that unless all precedents fail he will at some future time see high prices and general good feeling supplant the present depression.

As has been stated the innate false appearance of speculative surroundings does much to influence public participation at the wrong period. When stocks are low in price the brokerage offices are deserted, the newspapers say little of speculative affairs, transactions are limited, and those who have been worsted in the preceding decline speak in pessimistic terms of the future.  A long period of dullness almost invariably follows a severe decline. New lambs must be born and the old ones suffered to grow a new fleece and dullness is always unattractive. But at the crest of a great movement all is activity. Excited groups gather about the tickers and predict future events founded principally on illusions or hope, and stories of quickly acquired gains are heard on every hand. A fever of speculation fills the air and men who had no thought of venturing during the time of depression and low prices, now purchase anything and everything at prices that are very high.

The mistakes discussed above—ignorance; the belief that speculative riches are the result of luck rather than of judgment, over-speculation and misleading surface appearances, combine to make it possible for the shrewd and successful minority to buy and sell periodically to great advantage by an almost exact reversal of public methods and beliefs. Their operations are not founded on such reversion, but on study and knowledge of past precedent, present conditions and future probabilities. The fact that public opinion is diametrically opposed to

their views may be cheerfully considered as excellent proof of the correctness of their deductions, as the public is usually wrong.

If the statements made above are admitted to be correct the lesson they teach is obvious.  To result successfully, speculative ventures must be based on sound reasoning and a knowledge of correct normal values; on a willingness to confine operations to reasonable limits and upon emancipation from the moving influences of general exhilaration or depression.  The individual who begins or pursues his operations on these great fundamental principles has taken a great step toward the goal of success.

Reprint from The Pitfalls of Speculation by Thomas Gibson 1906 Ed.

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Highlander Bible

Proper Wines to Serve with Food

Foie gras with Sauternes, Photo by Laurent Espitallier

As an Appetizer

Pale dry Sherry, with or without bitters, chilled or not. Plain or mixed Vermouth, with or without bitters. A dry cocktail.

With Oysters, Clams or Caviar

A dry flinty wine such as Chablis, Moselle, Champagne. Home Top of [...] Read more →

Fresh Water Angling – The Two Crappies

 

July 2, 1898 Forest and Stream,

Fresh-Water Angling. No. IX.—The Two Crappies. BY FRED MATHER.

Fishing In Tree Tops.

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Mrs. Beeton’s Poultry & Game – Choosing Poultry

To Choose Poultry.

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Chinese 9 Course Dinner

The following recipes form the most popular items in a nine-course dinner program:

BIRD’S NEST SOUP

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The Fowling Piece – Part I

THE FOWLING PIECE, from the Shooter’s Guide by B. Thomas – 1811.

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The American Museum in Britain – From Florida to Bath

Hernando de Soto (c1496-1542) Spanish explorer and his men torturing natives of Florida in his determination to find gold. Hand-coloured engraving. John Judkyn Memorial Collection, Freshford Manor, Bath

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Antibiotic Properties of Jungle Soil

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The Age of Chivalry

KING ARTHUR AND HIS KNIGHTS

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Horn Measurement

Jul. 23, 1898 Forest and Stream, Pg. 65

Horn Measurements.

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Salmon Caviar

Salmon and Sturgeon Caviar – Photo by Thor

Salmon caviar was originated about 1910 by a fisherman in the Maritime Provinces of Siberia, and the preparation is a modification of the sturgeon caviar method (Cobb 1919). Salomon caviar has found a good market in the U.S.S.R. and other European countries where it [...] Read more →

Thomas Jefferson Correspondence – On Seed Saving and Sharing

The following are transcripts of two letters written by the Founding Father Thomas Jefferson on the subject of seed saving.

“November 27, 1818. Monticello. Thomas Jefferson to Henry E. Watkins, transmitting succory seed and outlining the culture of succory.” [Transcript] Thomas Jefferson Correspondence Collection Collection 89

Traditional JuJutsu Health, Strength and Combat Tricks

Jujitsu training 1920 in Japanese agricultural school.

CHAPTER V

THE VALUE OF EVEN TEMPER IN ATHLETICS—SOME OF THE FEATS THAT REQUIRE GOOD NATURE

In the writer’s opinion it becomes necessary to make at this point some suggestions relative to a very important part of the training in jiu-jitsu. [...] Read more →

Pickled Eels

Vintage woodcut illustration of a Eel

 

This dish is a favorite in Northern Europe, from the British Isles to Sweden.

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Carpet Cleaner Formulae

The Ardabil Carpet – Made in the town of Ardabil in north-west Iran, the burial place of Shaykh Safi al-Din Ardabili, who died in 1334. The Shaykh was a Sufi leader, ancestor of Shah Ismail, founder of the Safavid dynasty (1501-1722). While the exact origins of the carpet are unclear, it’s believed to have [...] Read more →

Clairvoyance – Methods of Development

CLAIRVOYANCE

by C. W. Leadbeater

Adyar, Madras, India: Theosophical Pub. House

[1899]

CHAPTER IX – METHODS OF DEVELOPMENT

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What’s the Matter?

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Chronological Catalog of Recorded Lunar Events

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The Master of Hounds

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The Shirk – An Old but Familiar Phenomena

STORE MANAGEMENT—THE SHIRK.

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Commercial Tuna Salad Recipe

Tom Oates, aka Nabokov at en.wikipedia

No two commercial tuna salads are prepared by exactly the same formula, but they do not show the wide variety characteristic of herring salad. The recipe given here is typical. It is offered, however, only as a guide. The same recipe with minor variations to suit [...] Read more →

Carpenters’ Furniture

IT requires a far search to gather up examples of furniture really representative in this kind, and thus to gain a point of view for a prospect into the more ideal where furniture no longer is bought to look expensively useless in a boudoir, but serves everyday and commonplace need, such as [...] Read more →

Arsenic and Old Lace

What is follows is an historical article that appeared in The Hartford Courant in 1916 about the arsenic murders carried out by Mrs. Archer-Gilligan. This story is the basis for the 1944 Hollywood film “Arsenic and Old Lace” starring Cary Grant and Priscilla Lane and directed by Frank Capra. The [...] Read more →

The Perfect Salad Dressing

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Snipe Shooting

Snipe shooting-Epistle on snipe shooting, from Ned Copper Cap, Esq., to George Trigger-George Trigger’s reply to Ned Copper Cap-Black partridge.

——

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History of the Cabildo in New Orleans

Cabildo circa 1936

The Cabildo houses a rare copy of Audubon’s Bird’s of America, a book now valued at $10 million+.

Should one desire to visit the Cabildo, click here to gain free entry with a lowcost New Orleans Pass.

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Wine Making

Wine Making

Grapes are the world’s leading fruit crop and the eighth most important food crop in the world, exceeded only by the principal cereals and starchytubers. Though substantial quantities are used for fresh fruit, raisins, juice and preserves, most of the world’s annual production of about 60 million [...] Read more →

Cocktails and Canapés

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Vitruvius Ten Books on Architecture

VITRUVIUS

The Ten Books on Architecture

TRANSLATED By MORRIS HICKY MORGAN, PH.D., LL.D. LATE PROFESSOR OF CLASSICAL PHILOLOGY

IN HARVARD UNIVERSITY WITH ILLUSTRATIONS AND ORIGINAL DESINGS PREPARED UNDER THE DIRECTION OF HERBERT LANGFORD WARREN, A.M.

NELSON ROBINSON JR. PROFESSOR OF ARCHITECTURE IN HARVARD [...] Read more →

Indian Mode of Hunting – Beaver

Jul. 30, 1898 Forest and Stream Pg. 87

Indian Mode of Hunting.

I.—Beaver.

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List of the 60 Franklin Library Signed Limited Editions

The following highly collectible Franklin Library Signed Editions were published between 1977 and 1982. They are all fully leather bound with beautiful covers and contain gorgeous and rich silk moire endpapers. Signatures are protected by unattached tissue inserts.

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The Field of the Cloth of Gold

Reprint from the Royal Collection Trust Website

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Commercial Fried Fish Cake Recipe

Dried Norwegian Salt Cod

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A Survey of Palestine – 1945-1946

This massive volume gives one a real visual sense of what it was like running a highly efficient colonial operation in the early 20rh Century. It will also go a long way to help anyone wishing to understand modern political intrigue in the Middle-East.

Click here to read A Survey of Palestine [...] Read more →

Books of Use to the International Art Collector

Hebborn Piranesi

Before meeting with an untimely death at the hand of an unknown assassin in Rome on January 11th, 1996, master forger Eric Hebborn put down on paper a wealth of knowledge about the art of forgery. In a book published posthumously in 1997, titled The Art Forger’s Handbook, Hebborn suggests [...] Read more →

JP Morgan’s Digital Currency Patent Application

J.P. Morgan Patent #8,452,703

Method and system for processing internet payments using the electronic funds transfer network.

Abstract

Embodiments of the invention include a method and system for conducting financial transactions over a payment network. The method may include associating a payment address of an account [...] Read more →

Of Decorated Furniture

DECORATED or “sumptuous” furniture is not merely furniture that is expensive to buy, but that which has been elaborated with much thought, knowledge, and skill. Such furniture cannot be cheap, certainly, but the real cost of it is sometimes borne by the artist who produces rather than by the man who may [...] Read more →

A Couple of Classic Tennessee Squirrel Recipes

FRIED SQUIRREL & BISCUIT GRAVY

3-4 Young Squirrels, dressed and cleaned 1 tsp. Morton Salt or to taste 1 tsp. McCormick Black Pepper or to taste 1 Cup Martha White All Purpose Flour 1 Cup Hog Lard – Preferably fresh from hog killing, or barbecue table

Cut up three to [...] Read more →

Cleaner for Gilt Picture Frames

Cleaner for Gilt Frames.

Calcium hypochlorite…………..7 oz. Sodium bicarbonate……………7 oz. Sodium chloride………………. 2 oz. Distilled water…………………12 oz.

 

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Country House Christmas Pudding

Country House Christmas Pudding

Ingredients

1 cup Christian Bros Brandy ½ cup Myer’s Dark Rum ½ cup Jim Beam Whiskey 1 cup currants 1 cup sultana raisins 1 cup pitted prunes finely chopped 1 med. apple peeled and grated ½ cup chopped dried apricots ½ cup candied orange peel finely chopped 1 ¼ cup [...] Read more →

Looking for a Gift for the Book Collector in the Family?

Buying a book for a serious collector with refined tastes can be a daunting task.

However, there is one company that publishes some of the finest reproduction books in the world, books that most collectors wouldn’t mind having in their collection no matter their general preference or specialty.

Seeds for Rootstocks of Fruit and Nut Trees

Citrus Fruit Culture

THE PRINCIPAL fruit and nut trees grown commercially in the United States (except figs, tung, and filberts) are grown as varieties or clonal lines propagated on rootstocks.

Almost all the rootstocks are grown from seed. The resulting seedlings then are either budded or grafted with propagating wood [...] Read more →

Chinese Duck Cooking – A Few Recipes

Chen Lin, Water fowl, in Cahill, James. Ge jiang shan se (Hills Beyond a River: Chinese Painting of the Yuan Dynasty, 1279-1368, Taiwan edition). Taipei: Shitou chubanshe fen youxian gongsi, 1994. pl. 4:13, p. 180. Collection of the National Palace Museum, Taipei. scroll, light colors on paper, 35.7 x 47.5 cm

 

A General Process for Making Wine

A General Process for Making Wine.

Gathering the Fruit Picking the Fruit Bruising the Fruit Vatting the Fruit Vinous Fermentation Drawing the Must Pressing the Must Casking the Must Spirituous Fermentation Racking the Wine Bottling and Corking the Wine Drinking the Wine

GATHERING THE FRUIT.

It is of considerable consequence [...] Read more →

Guaranteed 6% Dividend for Life. Any takers?

Any prudent investor would jump at the chance to receive a guaranteed 6% dividend for life. So how does one get in on this action?

The fact of the matter is…YOU can’t…That is unless you are a shareholder of one of the twelve Federal Reserve Banks and the banks under [...] Read more →

Artist Methods

Como dome facade – Pliny the Elder – Photo by Wolfgang Sauber

Work in Progress…

THE VARNISHES.

Every substance may be considered as a varnish, which, when applied to the surface of a solid body, gives it a permanent lustre. Drying oil, thickened by exposure to the sun’s heat or [...] Read more →

Protecting Rare Books: How to Build a Silverfish Trap

Silverfish damage to book – photo by Micha L. Rieser

The beauty of hunting silverfish is that they are not the most clever of creatures in the insect kingdom.

Simply take a small clean glass jar and wrap it in masking tape. The masking tape gives the silverfish something to [...] Read more →

A Few Wine Recipes

EIGHTEEN GALLONS is here give as a STANDARD for all the following Recipes, it being the most convenient size cask to Families. See A General Process for Making Wine

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David Starkey: Britain’s Last Great Historian

Dr. David Starkey, the UK’s premiere historian, speaks to the modern and fleeting notion of “cancel culture”. Starkey’s brilliance is unparalleled and it has become quite obvious to the world’s remaining Western scholars willing to stand on intellectual integrity that a few so-called “Woke Intellectuals” most certainly cannot undermine [...] Read more →

Some Notes on American Ship Worms

July 9, 1898. Forest and Stream Pg. 25

Some Notes on American Ship-Worms.

[Read before the American Fishes Congress at Tampa.]

While we wish to preserve and protect most of the products of our waters, these creatures we would gladly obliterate from the realm of living things. For [...] Read more →

Glimpses from the Chase

From Fores’s Sporting Notes and Sketches, A Quarterly Magazine Descriptive of British, Indian, Colonial, and Foreign Sport with Thirty Two Full Page Illustrations Volume 10 1893, London; Mssrs. Fores Piccadilly W. 1893, All Rights Reserved.

GLIMPSES OF THE CHASE, Ireland a Hundred Years Ago. By ‘Triviator.’

FOX-HUNTING has, like Racing, [...] Read more →

Fruits of the Empire: Licorice Root and Juice

Liquorice, the roots of Glycirrhiza Glabra, a perennial plant, a native of the south of Europe, but cultivated to some extent in England, particularly at Mitcham, in Surrey.

Its root, which is its only valuable part, is long, fibrous, of a yellow colour, and when fresh, very juicy. [...] Read more →

The Stock Exchange Specialist

New York Stock Exchange Floor September 26,1963

The Specialist as a member of a stock exchange has two functions.’ He must execute orders which other members of an exchange may leave with him when the current market price is away from the price of the orders. By executing these orders on behalf [...] Read more →

The Hunt Saboteur

The Hunt Saboteur is a national disgrace barking out loud, black mask on her face get those dogs off, get them off she did yell until a swift kick from me mare her voice it did quell and sent the Hunt Saboteur scurrying up vale to the full cry of hounds drowning out her [...] Read more →

Curing Diabetes With an Old Malaria Formula

For years in the West African nation of Ghana medicine men have used a root and leaves from a plant called nibima(Cryptolepis sanguinolenta) to kill the Plasmodium parasite transmitted through a female mosquito’s bite that is the root cause of malaria. A thousand miles away in India, a similar(same) plant [...] Read more →

King William III on Horseback by Sir Godfrey Kneller

Reprint from The Royal Collection Trust website:

Kneller was born in Lubeck, studied with Rembrandt in Amsterdam and by 1676 was working in England as a fashionable portrait painter. He painted seven British monarchs (Charles II, James II, William III, Mary II, Anne, George I and George II), though his [...] Read more →

What is the Meaning of the Term Thorough-bred Fox-hound

Reprint from the Sportsman Cabinet and Town & Country Magazine, Vol.1, Number 1, November 1832.

MR. Editor,

Will you allow me to inquire, through the medium of your pages, the correct meaning of the term thorough-bred fox-hound? I am very well aware, that the expression is in common [...] Read more →

Christmas Pudding with Dickens

Traditional British Christmas Pudding Recipe by Pen Vogler from the Charles Dickens Museum

Ingredients

85 grams all purpose flour pinch of salt 170 grams Beef Suet 140 grams brown sugar tsp. mixed spice, allspice, cinnamon, cloves, &c 170 grams bread crumbs 170 grams raisins 170 grams currants 55 grams cut mixed peel Gram to [...] Read more →

Clover Wine

Add 3 quarts clover blossoms* to 4 quarts of boiling water removed from heat at point of boil. Let stand for three days. At the end of the third day, drain the juice into another container leaving the blossoms. Add three quarts of fresh water and the peel of one lemon to the blossoms [...] Read more →

Historical Uses of Arsenic

The arsenicals (compounds which contain the heavy metal element arsenic, As) have a long history of use in man – with both benevolent and malevolent intent. The name ‘arsenic’ is derived from the Greek word ‘arsenikon’ which means ‘potent'”. As early as 2000 BC, arsenic trioxide, obtained from smelting copper, was used [...] Read more →

Bess of Hardwick: Four Times a Lady

Bess of Harwick

Four times the nuptial bed she warm’d, And every time so well perform’d, That when death spoil’d each husband’s billing, He left the widow every shilling. Fond was the dame, but not dejected; Five stately mansions she erected With more than royal pomp, to vary The prison of her captive When [...] Read more →

Money Saving Recipe for Gold Leaf Sizing

Artisans world-wide spend a fortune on commercial brand oil-based gold leaf sizing. The most popular brands include Luco, Dux, and L.A. Gold Leaf. Pricing for quart size containers range from $35 to $55 depending upon retailer pricing.

Fast drying sizing sets up in 2-4 hours depending upon environmental conditions, humidity [...] Read more →

King Lear

Edwin Austin Abbey. King Lear, Act I, Scene I (Cordelia’s Farewell) The Metropolitan Museum of Art. Dates: 1897-1898 Dimensions: Height: 137.8 cm (54.25 in.), Width: 323.2 cm (127.24 in.) Medium: Painting – oil on canvas

Home Top of Pg. Read more →

Fly Casting Instructions

It is a pity that the traditions and literature in praise of fly fishing have unconsciously hampered instead of expanded this graceful, effective sport. Many a sportsman has been anxious to share its joys, but appalled by the rapture of expression in describing its countless thrills and niceties he has been literally [...] Read more →

The Intaglio Processes for Audubon’s Birds of America

Notes on the intaglio processes of the most expensive book on birds available for sale in the world today.

The Audubon prints in “The Birds of America” were all made from copper plates utilizing four of the so called “intaglio” processes, engraving, etching, aquatint, and drypoint. Intaglio [...] Read more →

Birth of United Fruit Company

From Conquest of the Tropics by Frederick Upham Adams

Chapter VI – Birth of the United Fruit Company

Only those who have lived in the tropic and are familiar with the hazards which confront the cultivation and marketing of its fruits can readily understand [...] Read more →

The Effect of Magnetic Fields on Wound Healing

The Effect of Magnetic Fields on Wound Healing Experimental Study and Review of the Literature

Steven L. Henry, MD, Matthew J. Concannon, MD, and Gloria J. Yee, MD Division of Plastic Surgery, University of Missouri Hospital & Clinics, Columbia, MO Published July 25, 2008

Objective: Magnets [...] Read more →

Preserving Iron and Steel Surfaces with Paint

Painting the Brooklyn Bridge, Photo by Eugene de Salignac , 1914

 

Excerpt from: The Preservation of Iron and Steel Structures by F. Cosby-Jones, The Mechanical Engineer January 30, 1914

Painting.

This is the method of protection against corrosion that has the most extensive use, owing to the fact that [...] Read more →

How Long is Your Yacht?

Dominion, Royal St. Lawrence Yacht Club,Winner of Seawanhaka Cup, 1898.

The Tail Wags the Dog.

The following is a characteristic sample of those broad and liberal views on yachting which are the pride of the Boston Herald. Speaking of the coming races for the Seawanhaka international challenge cup, it says:

[...] Read more →

Peach Brandy

PEACH BRANDY

2 gallons + 3 quarts boiled water 3 qts. peaches, extremely ripe 3 lemons, cut into sections 2 sm. pkgs. yeast 10 lbs. sugar 4 lbs. dark raisins

Place peaches, lemons and sugar in crock. Dissolve yeast in water (must NOT be to hot). Stir thoroughly. Stir daily for 7 days. Keep [...] Read more →

The Cremation of Sam McGee

Robert W. Service (b.1874, d.1958)

 

There are strange things done in the midnight sun By the men who moil for gold; The Arctic trails have their secret tales That would make your blood run cold; The Northern Lights have seen queer sights, But the queerest they ever did see Was that night [...] Read more →

How to Distinguish Fishes

 

Sept. 3, 1898. Forest and Stream Pg. 188-189

How to Distinguish Fishes.

BY FRED MATHER. The average angler knows by sight all the fish which he captures, but ask him to describe one and he is puzzled, and will get off on the color of the fish, which is [...] Read more →

Modern Slow Cookers, A Critical Design Flaw

Modern slow cookers come in all sizes and colors with various bells and whistles, including timers and shut off mechanisms. They also come with a serious design flaw, that being the lack of a proper domed lid.

The first photo below depict a popular model Crock-Pot® sold far and wide [...] Read more →

Cleaning Watch Chains

To Clean Watch Chains.

Gold or silver watch chains can be cleaned with a very excellent result, no matter whether they may be matt or polished, by laying them for a few seconds in pure aqua ammonia; they are then rinsed in alcohol, and finally. shaken in clean sawdust, free from sand. [...] Read more →

Blackberry Wine

BLACKBERRY WINE

5 gallons of blackberries 5 pound bag of sugar

Fill a pair of empty five gallon buckets half way with hot soapy water and a ¼ cup of vinegar. Wash thoroughly and rinse.

Fill one bucket with two and one half gallons of blackberries and crush with [...] Read more →

AB Bookman’s 1948 Guide to Describing Conditions

AB Bookman’s 1948 Guide to Describing Conditions:

As New is self-explanatory. It means that the book is in the state that it should have been in when it left the publisher. This is the equivalent of Mint condition in numismatics. Fine (F or FN) is As New but allowing for the normal effects of [...] Read more →

Zulu Yawl

Dec. 10, 1898 Forest and Stream Pg. 477-479

Zulu.

The little ship shown in the accompanying plans needs no description, as she speaks for herself, a handsome and shipshape craft that a man may own for years without any fear that she will go to pieces [...] Read more →

A History of the Use of Arsenicals in Man

The arsenicals (compounds which contain the heavy metal element arsenic, As) have a long history of use in man – with both benevolent and malevolent intent. The name ‘arsenic’ is derived from the Greek word ‘arsenikon’ which means ‘potent'”. As early as 2000 BC, arsenic trioxide, obtained from smelting copper, was used [...] Read more →

CIA 1950s Unevaluated UFO Intelligence

 

CENTRAL INTELLIGENCE AGENCY

INROMATION FROM FOREIGN DOCUMENT OR RADIO BROADCASTS COUNTRY: Non-Orbit SUBJECT: Military – Air – Scientific – Aeronautics HOW PUBLISHED: Newspapers WHERE PUBLISHED: As indicated DATE PUBLISHED: 12 Dec 1953 – 12 Jan 1954 LANGUAGE: Various SOURCE: As indicated REPORT NO. 00-W-30357 DATE OF INFORMATION: 1953-1954 DATE DIST. 27 [...] Read more →

Country Cabbage and Pea Soup

Add the following ingredients to a four or six quart crock pot, salt & pepper to taste keeping in mind that salt pork is just that, cover with water and cook on high till it boils, then cut back to low for four or five hours. A slow cooker works well, I [...] Read more →

British Craftsmanship is Alive and Well

The Queen Elizabeth Trust, or QEST, is an organisation dedicated to the promotion of British craftsmanship through the funding of scholarships and educational endeavours to include apprenticeships, trade schools, and traditional university classwork. The work of QEST is instrumental in keeping alive age old arts and crafts such as masonry, glassblowing, shoemaking, [...] Read more →

Abingdon, Berkshire in the Year of 1880

St.Helen’s on the Thames, photo by Momit

 

From a Dictionary of the Thames from Oxford to the Nore. 1880 by Charles Dickens

Abingdon, Berkshire, on the right bank, from London 103 3/4miles, from Oxford 7 3/4 miles. A station on the Great Western Railway, from Paddington 60 miles. The time occupied [...] Read more →

Of the Room and Furniture

Crewe Hall Dining Room

 

THE transient tenure that most of us have in our dwellings, and the absorbing nature of the struggle that most of us have to make to win the necessary provisions of life, prevent our encouraging the manufacture of well-wrought furniture.

We mean to outgrow [...] Read more →

44 Berkeley Square

The Clermont Club

Reprint from London Bisnow/UK

At £23M, its sale is not the biggest property deal in the world. But the Clermont Club casino in Berkeley Square in London could lay claim to being the most significant address in modern finance — it is where the concept of what is today [...] Read more →

The Basics of Painting in the Building Trade

PAINTER-WORK, in the building trade. When work is painted one or both of two distinct ends is achieved, namely the preservation and the coloration of the material painted. The compounds used for painting—taking the word as meaning a thin protective or decorative coat—are very numerous, including oil-paint of many kinds, distemper, whitewash, [...] Read more →