EC: Yes - much may be given as to the assumed responsibility
of the officers in such an undertaking. This, however, would
be merely that of a representation of individual
responsibility in such undertakings, and unless each assumes
same in the manner as is set forth in that as each has
assumed as respecting same, little aid may be gained through
these sources, - yet, as has been promised, and as is meted
out day by day, these may keep themselves in such contacts,
such attunements, that these will be as but minor details in
making the success of such an undertaking. Two conditions,
especially, must be taken note of. This is that there should
be that constantly represented which is of monetary value as
rated with many, as WELL as that of the speculative value of
stocks or bonds dealt in. That is, as any well ordered
institution is able to keep such securities as are able to
maintain a balance without EVEN that of the mere fluctuation
in valuations. In doing such, these, then, present a well
balanced organization. In giving such as would be well to be
considered through the rest of the present fiscal year, these
are rather those as have been presented, yet may change in an
overnight session, yet utilities, as is seen, will be the
greater factor in the change of activity. The rail will
continue for at least the next quarter to be the criterion of
what may be expected in the change in quotations. While
there will be individual conditions or circumstances where
changes will of necessity not represent a general condition,
such as may be seen in individual railroad or rail holdings,
or individual industrials, yet these RATHER than steel, or
any of the more stable conditions, will be the representation
of the market. Now, the question may arise as to just why
that condition SHOULD exist at such a period. THESE, then,
enter into such conditions, herewith. We, the world, are
gradually changing in its mode of operations, whether we
speak of that as financial, material, mental, or what not,
and we find the rail presenting a factor about which most of
the mode of this change takes place. Get the spirit of the
idea? Get the understanding of the changes? Now, in the
communications, also these, in the form of utilities, will
present, then, factors that are to be considered. Such as we
will find in radio, or its formative companies, or those of
telegraph, or those of telephone, all present factors in this
change. These, then, the speculative ends of that about
which a vast force or power is evolving, and with this change
these may be made into conditions wherein these may be taken
advantage of in the bonds or stocks that represent such
conditions. As to individual developments, or individual
undertakings, the stock of this company itself presents just
such an undertaking as has been seen active, and is, of
itself, that that may be made something that will become
powerful, but with its power let it not lose sight of how its
power, influence, and all is to be directed. With this in
mind, with these the guiding forces from day to day, little
of censure will come, and few and fewer be the losses. Ready
for questions.
(Q) [
900]'s dream of Western Union this morning? Future of
this stock?
(A) Long ago was it given that once in a lifetime Western
Union was a buy, or the privilege was given to buy same.
This, as we find at present, will continue for an advance for
the time being, yet the very factors that are pushing this
upward in its demands may be the very things that will make
it a good sell.
(Q) What effect will Canadian decision have on earnings of
the Radio Corp?
(A) This, as has been seen, causes some disturbance among a
few, yet higher and higher will this particular stock go.
(Q) Is loss of patent suit in Canada the reason for the
R.C.A. stock going down at present?
(A) This the cause, as has just been intimated or given -
but the continuation of this through other channels and other
ways in which this is to come into the combine, and the use
of other conditions, will still continue to make this a buy.
When it continues to break, buy.
(Q) Should we hold our present stock or sell it and
reinvest the funds?
(A) WE would SELL at present and re-invest when lower.
(Q) What is the immediate future in R.C.A. stock?
(A) Well, that's just answered in this!
(Q) Should we buy Radio Keith-Orpheum at present prices?
(A) Good buy. This should be one of those, and WILL be one
of those, wherein there is a great future. Radio
Keith-Orpheum, yes - a great future in these. Western Union,
yes, for the time being, but not too heavy, or for too long -
or don't wait for too much profit.
(Q) Should we buy Westinghouse, which is an associate
company?
(A) Westinghouse very, very good. These are of the
speculative, to be sure, yet these are those - here are the
conditions under which consideration should be taken. Now
let's consider first, [
900], [Albert H. Gary speaking?] you
are considering conditions from the investments of a vast
group, rather than of individual self, in this as is being
GIVEN you. Then, weight well the actual earning power of
industrial or of commodities when such purchases are made
for long holdings, and those that are on a basis that their
earning power is equal to the same figures as represented in
the ADVANCES, you may be very sure these will ride well in
any storm!
(Q) Would Macy and Sears-Roebuck be better than any of
those?
(A) Not BETTER, but these offer different conditions. As
has been given, the rise or the combines through which Macy
has passed, and is passing, this to be made, as it were, one
- or the LEADING one of such stores. As Roebuck's, this will
EVER be a buy, for its OWN development, and its own EARNINGS,
no matter WHAT the price would be, would be well - but to 79
and 80; that is, 179 and 180, these are very good.
(Q) Westinghouse a buy at this price? or wait for a lower
level?
(A) Wait for a lower level on Westinghouse.
(Q) Any particular bonds that can be recommended for long
hold, yet that will rise?
(A) These we would consider rather as conditions develop,
rather than at this present time. Bonds, as is seen, present
this time a peculiar position in the conditions of market,
and of general conditions in the country. Then, WE would
give, consider these for the time being and rather take them
on around September or September 15th - this would be
different, see?
(Q) Regarding Chesapeake & Ohio, is this a buy now?
(A) Chesapeake & Ohio or any of those wherein these
combinations are being made in. Norfolk & Western,
Chesapeake & Ohio - these are all good. Wabash - in this
very good too - get this in these changes here.
(Q) What is outlook for buying stocks for the corporation?
those stocks as named?
(A) These are all very good - these have been as outlined,
in the manner as has been outlined - would be best to
consider, even as buys are made, whether for quick or for
long time, but keep the long time and the quick well balanced
and well guarded.
(Q) Which are the better for the long time?
(A) Such as those as has been given, of the industrials,
that are in the position to show earnings on - or in radio
[ratio] commensurate with the prices as are seen. These
always offer, then, a background for what is being done.
While these may not, as to their activity, present such
wonderful gains as would be in more speculative, yet the
conservative and the ABILITY to take advantage OF speculative
conditions make this undertaking peculiarly satisfactory to
all interested. We are through for the present.
Copy to Self
Copy to [137]
Copy to [195]
Copy to [257]
REPORTS
See subsequent Business and Dream interpretation rdgs.
7/27/29 See
165-9, Par. 3-A advising that stocks be bought
and sold through East Coast Trading Co., "for these are
controlled by influences that may not be surpassed while
under those present influences."
8/26/37 See
165-25, Par. 23-A advising him to take $30 for
stock which he had paid [
900] $3,000. "We do not find a
great deal more than that offered."
Edgar Cayce Readings © 1971, 1993, 1994, 1995 by the Edgar Cayce Foundation