Show BABSON FOR W WATERPOWER TER POWER I Di Discusses s c us s e s Investment Prom From Standpoint of I Service SCHENECTADY N T Y 5 Tune Juno 16 15 It brokerage failures bays bave tended to emphasize once more mor the continual loss Joss suffered by the In I I vesting public Losses from un- un unsound unSound un unsound sound practices In brOkerage con con- concerns con concern corns cern can c n be b overcome by proper regulation rec Losses from Investment In poor securities cease however only when th the Investor becomes mor mora skilful In the th selection of o his securities Roger W Dabson Babson says that t the th Investor needs the th Spirit ot of service Ice The reason son people lose money on many miny of their Investments Investment Is due to the th fact f ct that th t they select them with an n ee e only to possible profits without considering the tho servIce rendered says s ys Mr flab flab- Babson son Bab-son son It If you will be b sure aur Instead to put your money where It will render a service profits will com coma almost automatically I have har Just been visiting the sites of ot some posed posed water power ower devel developments In Inthe inthe Inthe the Adirondacks and water ater power to mc me constitutes the th most fee tas- f LS field for tor sound Invest invest- investment Investment Investment ment In New Nevi NewYork York Tork state stat alone alono there Is 4 power horse-power available which Is now going coing to waste The development of ot this idle Idia water waterpower would in a a year siv ri 11 coal the th equivalent of ot a train ot of loaded coal cars extending from the Atlantic to the th Pacific and back again ae ln The Panama canal was ten years in building Dir Dir- Du DI Ini lag Ing this time the available n water waterpower waterpower power wasted waited In New York state would have been sufficient trans trans- translated translated translated Into dollars to have built five Panama canals This Is fig fig- figuring tir a II power horse-power wirth rth 50 0 a 0 year Someone has figured this aate In the terms of ot bread and found It equivalent to 4 loaves bates ot of otI I bread a II day Thus when this waste this waste aste in one state of ot New York YorkI I alone Is I translated Into commodities commodities I ties It Is found to be b sufficient to tos s the bread requirements ot of that HUlt entire state When you con con- consider con consider sider that tho the population of ot this I state population Is nearly tenth one-tenth the lation of ot the United States you YOI gain some Idea of ot how enormous thIs wa waste Is a waste which needs n I Ionly only capital and eov gO eminent co- co cooperation cooperation co cooperation operation to develop tor for the ser ser- service ser service vice of man PI lIAN T Water powers are a th ely permanent investment 10 e In Inthe Inthe Inthe the case of ot railroads and e een en steam power plants there Is a high hl rate of ot depreciation If this do- do depreciation de depreciation is allowed ed to continue the efficiency of or operation Is great great- greatly greatly ly ly reduced In a II water nater power plant the depreciation i is a II com corn comparatively small item Water Waterpower Waterpower Waterpower power plants are arc almost independent Independent ent of ot the thc fluctuations In the th labor and commodity markets that when profitable rates are ro once fixed by the company or orI orn ora ora n a state commission the profits are I not liable to be absorbed by an In- In Increase In Increase crease In either cither wages or commo commo- commodity I prices Of Ot cour course o there are a aI afew afew I few other lines of ot business which offer octer a similar ad but they theys also enjoy this e owing to the the Service w which they render I mere 1 nere Is a a constantly Increasing demand for tor household electrical and an Increasing num num- num number ber her of ox are arc availing them them- themselves themselves themselves selves of ot tao con conveniences of ot elec elec- electricity electricity Further more and nn 1 more factories and mills are being dee elec- electrically elec electrically equipped In place of ot steam driven This all means that thai the use of electricity Is constantly In- In Increasing In creasing Hero here is 19 a resource which nature has gien us It needs but capital and legislation to put It to the service of or man By Dy Its cc- cc a and use millions ot of homes will be brighter and the work ork of of ot cite cite- easIer easier ier Scores of ot communities will be clearer and more healthy as elec electriO electric triO tr Is used in place of ot coal Thus In water powers Invested capital can be of ot real service and andIn andin andIn In the measure that It serves It Si ill III pro profit tit Business Is still holdIng up not not- notwithstanding not withstanding the th pessimistic views ot of certain stock market operators The shows general activity at 1 per cent above nor nor- normal normal nor normal mal compared with Ith 17 per cent be- be below below be below low normal tor for the same time last year Whatever er may happen next year business Is normal today today- today not over expanded nor d d Those who try to render sen Ice Instead of ot scalping have bave nothing to fear tear |