Mr. Littlepage: I think there is a great deal in what Professor Lake says. I am not sure he has got the cause of the facts he states. One reason why the Ben Davis is being planted is, as he stated, that it will grow almost anywhere; but the reason the public accept the Ben Davis is because they can't get enough of another at a reasonable price. There isn't any doubt that if there were plenty others at a reasonable price the Ben Davis wouldn't be used at all. We hear so much today about this high cost of living. Of course, there are artificial conditions that have contributed to this to a greater or less extent; but the principal element is that we have come up against the problem of feeding the great American public, that has grown faster than the facilities have grown. The time for low priced food products is gone forever. Yet there is a good deal in this commercial phase of it.
President Morris: The Hales hickory is going to be like the Ben Davis apple, one of the very most popular in the market.
Doctor Deming: I will say regarding the retail price of nuts that in New York City shelled filberts are priced at $1.25 a pound, shelled almonds $1.00, ordinary run of hickories and chestnuts in the shells twenty cents, black walnuts in the shell twelve cents.
President Morris: Hickories will give somewhat over fifty pounds to the bushel; black walnuts about forty. If we make a rough estimate of fifty pounds to the bushel for shagbarks, and forty for Persian walnuts, we will probably have a good fair average.
NUT PROMOTIONS.
By W. C. Deming, New York.
Promoters attack their quarry with a two-edged sword; one edge is what they say, the other what they leave unsaid; and both edges are often keen. What they say generally has a foundation of truth with a superstructure of gilded staff. You must knock over the staff and examine the foundations to see if they are laid up in good cement mortar or only mud. Sometimes they are honestly laid but your true promoter can no more help putting on his Coney Island palace of dreams than a yellow journal reporter can help making a good story of the most everyday assignment. I suppose he takes a professional pride in his decorations, even when the real facts themselves are good enough. Or even, in his enthusiasm, half believes, and fully hopes, that what he says is true. So you never can say that because of the evident gilding there is nothing worth while beneath.
What the promoter does not say it is absolutely necessary for the safe investor to find out. Deductions from experience in general, and from knowledge of the business in particular, will help and, when these favor further investigation, there are two essentials for a wise decision. First, a study of the records of the promoters, and second, a personal examination of the property. If these can be thoroughly made, and the results are satisfactory after a suitable period of mental incubation, if the prospects will stand the candle test for fertility, you may put some money on the chance of a good hatch; remembering, too, that many a good hatch afterward comes to grief with the pip.
Some promotions are conceived in iniquity, some in drunkenness and folly and some are abortive from incapacity. Your legitimate and well-born, well-brought-up promotion, fathered by ability and mothered by honesty, it is your problem to recognize, if that is what you are looking for, and to avoid the low-born trickster or incapable. No one can tell you how to do this any more than he can tell you an easy way to graft hickories.