Investors, that in sat. those who buy and own stocks outright, get possession of the certificates properly transferred into their own names and hold them for investment, suffered little and in most cases fared well.
Speculators, that is to say, those who carry stocks on margin and try to beat quick-changing fluctuations, profited little and in most cases fared ill.
The lesson of 101 is plain.
Just one year ago Emma Copper stock (now Emma Consolidated), sponsored and financed by me, sold on the New York Curb at 18c a share. It closed on Friday at $1.75 bid, $1.87½ asked, having during the year reached a high of $1.50.
Old Emma Leasing, financed and brought out by me in July at 10c a share, had a final on Friday on the New York Curb at 5c. It reached a high of 85c during the year.
United Verde Extension, which sold at $6 a share one year ago and closed at around $218 on the New York Curb on Friday, was strongly urged for purchase in my market literature day by day throughout the year.
On the whole, the 191½ record of my organization is one to be proud of, and I am proud of it.
But I am even more sanguine for 1917.
The Kite Oil Company will make its appearance under my auspices within a few weeks. The company owns leaseholds on 10,000 acres of prospective oil and gas lands in Kentucky, and the stock at the initial price of 50c a share will embrace what is probably the GREATEST SPECULATIVE OPPORTUNITY OF RECENT YEARS. 