.supply, atmospheric electricity and psychological changes in our desires and ambitions. STOCK CYCLES Two oilier common cycles are the 42-month cycle and the re i lated 6-year cycle. This last is the ' cycle used in the addenda of my autobiography recently published i by Harper & Brothers of New | York City. Here I show how $2000 J invested in 1901 in the Dow-Jones ! Stocks, approximately according to this cycle, could <as subse quently adjusted to include latest, data1 amount to over $1 000,000 ! today without borrowing a penny. T1 is is known as the Chapin Hos kins Cycle and appears in records of barometric pressuie. sun spots, j tree rings, certain commodity j prices and the sale of some 25 I leading L . S. corporations. ; Of course, all brokers ridic lie I this cycle theory. If too many of I their customers bought stocks ! only once in six years, they would starve to death. Even the Mutual Investment Funds, which last 'year did a business ol $4,000,000 - 000. cannot afford to go without dividends for three years while ' waiting for the market tfo drop. Besides t ieir sponsors could not s’ pport a sales force under such conditions. PATIENCE Operating under any cycle theory requires great self-control am. patience. It requires selling when the government, brokers! and magazines are bullish: like- ; wise, it requires buying when i (,v ryone is discouraged and sees \ no hope fo” stocks at any price. ; On the other hand, those who do ‘ so operate on ibis cycle theory j perform a great public service in > he.ping to level out business and j employment conditions Some conservative bankers do not believe in any cycle theory j because it misses one* in a while I when different cycles conflict. Furhermore. although they ad mit it might have worked under

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