Who Was

OROLO?

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Gann Study Group

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In some issues of The New York Herald in 1909, an analyst and trader using the pseudonym ORO O ad!ertised newsletters, in whi"h he made time and pri"e predi"tions for !arious sto"ks and "ommodities, #ased, he said, on the aw of $i#ration% &any known fa"ts a#out the life of '% (% )ann are in harmony with the statements and "laims made #y ORO O to the point that we would #e well *ustified in suspe"ting that they were one and the same indi!idual% +ut sin"e we are una#le to present any a#solute proof that ORO O and '% (% )ann are identi"al, we ha!e to limit oursel!es to e,pressing the strong #elief that they are the same person% The following items are trans"ripts of 1- ORO O ad!ertisements .the only ones found so far/, with "ommentary upon them presented in footnotes% 0fter ea"h trans"ript, the original ad is reprodu"ed% +++ The New York Herald, Thursday, April 15, 1909. "BULL AN! B"A# "$ a% &he o'ly s(ie'&i)i( e*per& o' (o&&o', s&o(ks a'd +rai' 1 who keeps your loss li%i&ed &o o'e poi'& a'd shows you how &o +e& 5 &o ,0 poi'&s pro)i&. Your %o'ey re)u'ded i) 'o& sa&is)ied. -i.e %e a &rial &his week. /01 o'e %o'&h, /12. #ush re%i&&a'(e, +e& (rea% o) a 3i+ %o.e. Address 4#4L4, 1,0 Li3er&y s&.",

4#4L4 (alls hi%sel) a 5s(ie'&i)i( e*per&6. $' his i'&er.iew wi&h The Ti(ker a'd $'.es&%e'& !i+es& i' !e(e%3er 1909 7herei'a)&er re)erred &o as 5&he Ti(ker i'&er.iew68, issued o'ly %o'&hs a)&er &his ad.er&ise%e'& 3y 4#4L4 appeared, 9. !. -a'' said &ha& wha& he &au+h& a'd pra(&i(ed was &he way 5&o spe(ula&e s(ie'&i)i(ally6. $' 1919, a de(ade a)&er &he Ti(ker i'&er.iew, a repor&er s&a&ed o) -a'': 5He does 'o& wa'& &o 3e re+arded as a prophe& or a seer, 3u& ra&her as a %a' o) s(ie'(e.6 7The New York Herald ;a+a<i'e, =a'. 5, 1919, p. 15, herei'a)&er re)erred &o as &he ar&i(le i' The New York Herald ;a+a<i'e8. A' ad.er&ise%e'& )or -a''>s 'ewsle&&er, pu3lished i' &he ?lai' !ealer o) @le.ela'd 4H o' April 9, 19,,, said i' &he ope'i'+ para+raph: "!o'>& &ry &o +uess &he &op1 Aui& +a%3li'+ o' hope1 )ollow (ie'(e a'd k'ow1 &he' you will ha.e 'o re+re&s." A& &he &i%e o) &he 19,9 (rash a'd &he early years o) &he !epressio' &ha& )ollowed, -a''>s (o%pa'y was (alled 9. !. -a'' (ie'&i)i( er.i(e, $'(. or 9. !. -a'' (ie'&i)i( $'(. , $& is a s&riki'+ &o 'o&e &ha& &he su((essor &o The Ti(ker a'd $'.es&%e'& !i+es&, (alled The ;a+a<i'e o) 9all &ree&, had i&s edi&orial o))i(es a& 1,0 Li3er&y &ree&, so%e&i%es ide'&i)ied as 1,0B1,, Li3er&y &ree&, as early as 1910 a'd possi3ly 3e)ore. The Ti(ker, howe.er, a& &he &i%e o) &he i'&er.iew wi&h -a'', was lo(a&ed a& , #e(&or &ree&.

+++ The New York Herald, u'day, April 12, 1909. "C#"" T$?.0 "Belie.i'+ i' &he pro.er3 >$%possi3ili&y is &he lo+i( o) )ools,> $ ha.e pro.ed a)&er 'i'e years o) s(ie'&i)i( i'.es&i+a&io' &ha& i& is possi3le &o k'ow e.ery %o.e &he %arke&s %ake.D $& is a s(ie'&i)i( pro3le%, 'o& +uess work, as %a'y 3elie.e.5 $ ha.e i'.es&i+a&ed all > ys&e%s,> )ou'd %os& o) &he% wor&hless &o &he a.era+e &rader a'd 'o'e o) &he% per)e(&. $ i'.es&i+a&ed as&rolo+y a'd ki'dred s(ie'(es &o lear' &he law o) &he %o.e%e'&s i' &he %arke&s.E $' &he% all &here was so%e&hi'+ la(ki'+,F a'd 'o& u'&il $ s&ru(k
3 The headli'e is e.ide'&ly sardo'i(. $' a )u&ure ad.er&ise%e'& 4#4L4 will say &ha& he +i.es 'o i'side i')or%a&io' 7i.e., &ips8. As will 3e see' )ro% a readi'+ o) &his ad, &he &ip i' Aues&io' is &he o))er o) a )ree issue o) his 'ewsle&&er, whi(h was prepared, as we ha.e see', 3y a "s(ie'&i)i( e*per&". A& &he e'd o) &he year, -a'' would say i' &he Ti(ker i'&er.iew: "Cor &he pas& &e' years $ ha.e de.o&ed %y e'&ire &i%e a'd a&&e'&io' &o &he spe(ula&i.e %arke&s. ... A)&er e*haus&i.e resear(hes a'd i'.es&i+a&io's o) &he k'ow' s(ie'(es, $ dis(o.ered &ha& &he Law o) Gi3ra&io' e'a3led %e &o a((ura&ely de&er%i'e &he e*a(& poi'&s &o whi(h s&o(ks or (o%%odi&ies should rise a'd )all wi&hi' a +i.e' &i%e." 4' &he .ery )irs& pa+e o) Truth of the 1to"k Tape, pu3lished i' 19,0, 9. !. -a'' says &ha& people who )ollow &ips or who +uess ha.e 'o possi3ili&y o) 3ei'+ su((ess)ul a'd he +oes o' &o say &ha& &he wi''ers will ha.e a "pla' 3ased o' (ie'(e a'd upply a'd !e%a'd". -a'' i'.ei+hs )reAue'&ly i' his wri&i'+s a+ai's& +uesswork, whi(h he so%e&i%es spells as o'e word a'd so%e&i%es as &wo. 9. !. -a'', as early as Ce3ruary 191D, was o' &he Hodia( @ou'(il o) The As&rolo+i(al o(ie&y, $'(., N.Y. h&&p:IIwww.3o''iehill.'e&Ipi(s.au*I+a''IAs&rolBulle&i'a.Jp+ . 4#4L4 says &ha& as&rolo+y is la(ki'+ wi&hou& &he Law o) Gi3ra&io'. Al&hou+h -a'' was k'ow' &o 3e a %as&er as&rolo+er, he also ad%i&&ed &ha& as&rolo+y (ould )ail, i) pra(&i(ed i' isola&io' wi&hou& &he Law o) Gi3ra&io' 7whi(h he says was k'ow' &o &he as&rolo+ers o) old 3u& 'o& (o%%u'i(a&ed 3y &he% &o &heir readers8. $' &he ar&i(le i' The New York Herald ;a+a<i'e, -a'' said: " o%e weeks a+o $ read a' i'&eres&i'+ ar&i(le o' &he )ailure o) as&rolo+ers i' &heir predi(&io's re+ardi'+ &he war. Now &here is a +rea& deal i' &he .i3ra&io's o) &he pla'e&s, 3u& &o %ake a((ura&e predi(&io's &he +rea& law 3ehi'd i& all, whi(h &he a'(ie'&s

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upo' &he law o) .i3ra&io' a'd a&&ra(&io' as applied i' 9ireless Tele+raphy did $ )i'd &he key &o 9all &ree&.2 $ )i'd &he di))ere'& s&o(ks +rouped i'&o )a%ilies, ea(h ha.i'+ i&s ow' dis&i'(& .i3ra&io', whi(h a(&s sy%pa&he&i(ally upo' o&hers o) &he +roup a'd (auses &he% &o %o.e i' u'iso'. 9 $ 'ow ha.e per)e(&ed %y &heory u'&il $ (a' )ore(as& e.ery %o.e i' &o(ks, @o&&o' a'd 9hea&.10 #e%e%3er &his is a' a+e o) pro+ress a'd &ha& wireless &ele+raphy, whi(h was &hou+h& i%possi3le 3y &he wise o'es, is 'ow pra(&i(a3le. K'owi'+ &ha& &here will 3e &hose who ha.e li&&le )ai&h $ %ake &his )air proposi&io': BB e'd your 'a%e a'd address a'd $ will se'd )ree o'e le&&er wi&h i')or%a&io' &ha& will %ake e'ou+h %o'ey &o pay )or o'e %o'&h>s su3s(rip&io', /12, pro.idi'+ you pro%ise &o su3s(ri3e i) &he ad.i(e pro.es +ood, or $ will se'd you %y daily le&&er o'e week o' re(eip& o) /0 a'd will re)u'd your %o'ey i) 'o& sa&is)a(&ory. !o'>& delay. o%e 3i+ %o.es soo' &o s&ar& i' &he %arke&s. 4#4L4, 1,0 Li3er&y s&., roo% 1,,0E." 11

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u'ders&ood, 3u& whi(h &hey purposely re)rai'ed )ro% pu&&i'+ i' &heir 3ooks, as &hey wa'&ed &o keep &he se(re& )or &he%sel.es, %us& e'&er i'&o &he (al(ula&io'. Tha& is why as&rolo+y )ails )or 'o&hi'+ (a' 3e a((ura&e &ha& is 'o& 3ased o' %a&he%a&i(s L a'd so )ew as&rolo+ers are %a&he%a&i(ia's." 7The New York Herald ;a+a<i'e, =a'. 5, 1919, p. 158 4#4L4 says &he Law o) Gi3ra&io' as applied &o wireless &ele+raphy +a.e hi% "&he key &o 9all &ree&." -a'', a& &he e'd o) &his sa%e year, said i' &he Ti(ker i'&er.iew: "$& is i%possi3le here &o +i.e a' adeAua&e idea o) &he Law o) Gi3ra&io' as $ apply i& &o &he %arke&s, howe.er, &he lay%a' %ay 3e a3le &o +rasp so%e o) &he pri'(iples whe' $ s&a&e &ha& &he Law o) Gi3ra&io' is &he )u'da%e'&al law upo' whi(h wireless &ele+raphy, wireless &elepho'es a'd pho'o+raphs are 3ased." $' 19,F i' his 'o.el The Tunnel Thru the 0ir, -a'' added: "The +rea& law o) .i3ra&io' is 3ased o' like produ(i'+ like. Like (auses produ(e like e))e(&s. 9ireless &ele+raphy, &he pho'o+raph a'd &he radio are 3ased o' &his law." 4#4L4 pla(es s&o(ks i'&o ")a%ilies, ea(h ha.i'+ i&s ow' dis&i'(& .i3ra&io'". -a'' i' &he Ti(ker i'&er.iew says "The power &o de&er%i'e &he &re'd o) &he %arke& is due &o %y k'owled+e o) &he (hara(&eris&i(s o) ea(h i'di.idual s&o(k a'd a (er&ai' +roupi'+ o) di))ere'& s&o(ks u'der &heir proper ra&es o) .i3ra&io'." 7-a'' also dis(usses +roups o) s&o(ks i' Book $$$, @hap&er MG$ o) Truth of the 1to"k Tape.8 4#4L4>s predi(&io's i'.ol.ed 'o& o'ly s&o(ks, 3u& also (o%%odi&ies su(h as whea& a'd (o&&o'. $' &he Ti(ker i'&er.iew, pas& predi(&io's 3y 9. !. -a'' i'.ol.i'+ s&o(ks, whea&, a'd (o&&o' were dis(ussed a'd )ore(as&s )or )u&ure %o.es i' s&o(ks a'd (o%%odi&ies were also prese'&ed. The roo% 'u%3er 1,,0E appears i' o'ly &wo o) &he ad.er&ise%e'&s, showi'+ &ha& i& was 'o& esse'&ial &ha& i& 3e i'(luded i' &he address i' order )or 4#4L4 &o re(ei.e %ail.

+++ The New York Herald, u'day, ;ay 9, 1909 "C4#TUN" KN4@K ".ery !ay a& Your !oor. "How )ew reali<e a'd &ake ad.a'&a+e o) &he oppor&u'i&ies o))ered &o %ake a )or&u'e i' 9all s&ree& u'&il i&>s &oo la&e. $) you ha.e %issed +ood &hi'+s i' &he pas& do'>& le& &his o'e +o 3y. #e%e%3er, $ ha.e spe'& 'i'e years i'

per)e(&i'+ a >sys&e%> 3ased o' &he law o) .i3ra&io', a'd i& is &he o'ly o'e &ha& is s(ie'&i)i(, relia3le a'd a3solu&ely a((ura&e a& all &i%es, e'a3li'+ %e &o &ell you e*a(&ly where &o 3uy a'd sell a'y s&o(ks or (o%%odi&ies. 1, This sa%e law %ade 9ireless Tele+raphy possi3le. $ %ake 'o %is&akes, 'e.er +uess or +i.e you soB(alled >i'side i')or%a&io'.> 9ha& $ +i.e you is wha& &he %e' who %ake %arke&s are doi'+. $ 'e.er oppose &he powers &ha& 3e, 3u& +o wi&h &he% a'd help you &o a.oid &he pi&)alls &ha& (o%e &o &hose who +uess. $ ha.e %ade +ood i' &he pas&, as hu'dreds (a' &es&i)y, 3u& you will 'e.er k'ow how %u(h .alue %y le&&ers are u'&il you ha.e &ried &he%. $s'>& i& wor&h /0 &o k'ow &ha& &here is a real s(ie'(e, a +e'ui'e, a'd o'e &ha& will 3ea& &he %arke&N $) &here was 'o +e'ui'e dollars &here would 3e 'o (ou'&er)ei&s. $& is &he sa%e wi&h &hose who (lai% &o k'ow wha& &he %arke&s are +oi'+ &o do1 i& pro.es &ha& &here is so%e o'e 9H4 AL9AY KN49 a'd i%i&a&ors &ry &o )ollow. A &rial will (o'.i'(e you &ha& you (a' +e& 'o 3e&&er ad.i(e &ha' $ +i.e. Your %o'ey re)u'ded i) 'o& sa&is)ied. 9ill 'a%e &o(ks i' ;o'day>s le&&er +ood )or &e' poi'&s rise 3e)ore de(li'i'+ &wo1 eAually +ood %o.es i' @o&&o' a'd 9hea&. Has&e' your re%i&&a'(e, &he %arke& wo'>& wai&. /0 )or o'e week>s &rial or /12 per %o'&h. 4#4L4, 1,0 Li3er&y s&., roo% 1,,0E, New York @i&y."

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4#4L4 speaks o) 3ei'+ a3le &o &ell su3s(ri3ers e*a(&ly where &o 3uy a'd sell. #i(hard !. 9y(ko)), &he au&hor o) &he Ti(ker i'&er.iew wi&h 9. !. -a'', wro&e a& &he 3e+i''i'+ o) &ha& ar&i(le: "$' a lar+e 'u%3er o) (ases ;r. -a'' +a.e us i' ad.a'(e &he e*a(& poi'&s a& whi(h (er&ai' s&o(ks a'd (o%%odi&ies would sell, &o+e&her wi&h pri(es (lose &o &he &he' pre.aili'+ )i+ures whi(h would 'o& 3e &ou(hed."

+++ The New York Herald, u'day, ;ay ,0, 1909. "AN 4L! LA9 N"9LY A??L$"!. ;o'ey ;aki'+ ;a&heB %a&i(ally @er&ai'. "The 'e*& &e' days &he %arke& will 3oil. You (a' %ake %o'ey i) you +e& &he 3es& ad.i(e, 3ased o' &he o'ly real, s(ie'&i)i( law, G$B#AT$4N. ".ery

s&o(k has i&s pe(uliar .i3ra&io', whi(h shows whe&her &he e'er+y dri.es i& upward or dow'ward. Cla%%ario' &ells us e.ery&hi'+ is 3ased o' .i3ra&io'.10 Throu+h &his law ?ro). !e Cores& dis(o.ered wireless &ele+raphy.1D "u(lid, &he +rea& %a&he%a&i(ia', whose work was per)e(&, &au+h& &ha& %a&he%a&i(s was &he 3asis o) e.ery&hi'+, a'd 3y i& we pro.e .i3ra&io'.15 $ a% &he o'ly %a' who has applied &his old law &o spe(ula&i.e %arke&s a'd pro.ed i& (orre(&. No o&her li.i'+ %a' has possessio' o) &his se(re& k'owled+e, a'd &here is 'o o&her i')or%a&io' >Jus& as +ood> &ha& &ells you wha& &he %arke&s will do.1E $ do'>& 3oas& o) &he pas&. $ &ell you wha& &he %arke&s will do i' &he )u&ure. Le&&ers o' )ile i' %y o))i(e, ope' )or i'spe(&io', pro.e %y pas& predi(&io's (orre(&.1F Te' &o &we'&y poi'&s i' so%e s&o(ks wi&hi' &hir&y days a'd &we'&yB)i.e poi'&s i' =uly whea&. $ (a'
10 1D 15 4#4L4 re)ers &o @a%ille Cla%%ario'. Cla%%ario'>s 2opular 0stronomy was o' 9. !. -a''>s Lis& o) Books )or ale 7so%e&i%es 'i(k'a%ed 5-a''>s #e(o%%e'ded #eadi'+ Lis&68. Lee !e Cores& was i'.ol.ed i' &he i'.e'&io' o) &he wireless &ele+raph, &he wireless &elepho'e, a'd &he radio, all o) whi(h 9. !. -a'' said were %ade possi3le 3y &he Law o) Gi3ra&io'. "u(lid is )a%ous )or his work i' +eo%e&ry. A .ery old e'(y(lopedia ar&i(le o3ser.es &ha& "u(lid was also i'&eres&ed i' ?y&ha+orea' ra&ios, whi(h o&her sour(es say ?y&ha+oras dis(o.ered i' %usi( a)&er 'o&i'+ &he .i3ra&io's (o%i'+ )ro% a 3la(ks%i&h>s a'.il. 4'(e %usi(al 'o&a&io' was i'.e'&ed, i& says, "9e a)&erwards )i'd philosophers, as well as poe&s, a%o'+ &he 'u%3er o) &hose who ad%ired a'd (ul&i.a&ed %usi(, &heore&i(ally as well as pra(&i(ally, as ?y&ha+oras, ?la&o, Aris&o&le, Aris&o*e'us, "u(lid, a'd %a'y o&hers. ?y&ha+oras is (ele3ra&ed )or his dis(o.eries i' &his s(ie'(e1 'a%ely, )or &ha& o) %usi(al ra&ios, a'd &he addi&io' o) a' ei+h&h s&ri'+ &o &he lyre. The )or%er o) &hese he is supposed &o ha.e deri.ed )ro% &he "+yp&ia's. He also e*plai'ed &he &heory o) sou'ds, a'd redu(ed i& &o a s(ie'(e. Aris&o*e'us is &he %os& a'(ie'& wri&er o' %usi( o) whose works &here are a'y re%ai's. "u(lid )ollowed up &he idea o) ?y&ha+oras> ra&ios, whi(h he redu(ed &o %a&he%a&i(al de%o's&ra&io'. To &his lis& o) -reek wri&ers %ay 3e added Ni(ho%a(hus -er'se'us, Alypius, -aude'&ius, Ba((hius se'ior, ?&ole%y &he as&ro'o%er, a'd Aris&ides Oui'&ilia', whose works are s&ill e*&a'&. These wro&e u'der &he #o%a' e%perors, %a'y o) who% (ul&i.a&ed %usi( a'd )ollowed &he &heory o) &he -reeks. A%o'+ &he #o%a' wri&ers %ay 3e re(ko'ed Gi&ru.ius, who, i' his ar(hi&e(&ure, &ou(hes li+h&ly o' &his su3Je(&1 also ;ar&ia'us @apella a'd Boe&hius, who wro&e o' &he de(li'e o) &he e%pire." The #e.. =. L. Blake, The 3amily 4n"y"lopedia of 5seful 6nowledge and )eneral iterature , 120D, p. E,D. The work o) &he a'(ie'&s (ap&i.a&ed -a''. The Jour'alis& who i'&er.iewed -a'' )or &he ar&il(e i' &he New York Herald ;a+a<i'e said: "He %ade his dis(o.ery a3ou& ,0 years a+o, a)&er weeks a'd %o'&hs o) resear(h i'&o +eo%e&ry a'd %a&he%a&i(s i' a'(ie'& 3ooks a'd a& a (os& o) /,5,000." The repor&er added, (o'(er'i'+ -a'', "He %ade a )or&u'e si%ply &ha& he %i+h& ha.e &he leisure 'e(essary )or hi% &o )ollow his a%3i&io' L &o s&udy %a&he%a&i(s a'd del.e i'&o &he k'owled+e held 3y &he a'(ie'&s." $' &he Ti(ker i'&er.iew 9. !. -a'' &alks o) his use o) &he Law o) Gi3ra&io'. $'&rodu(i'+ &his dis(ussio', &he au&hor, #i(hard !. 9y(ko)), says -a'' see%s &o ha.e 3ee' a pio'eer: "$& appears &o 3e a )a(& &ha& ;r. -a'' has de.eloped a' e'&irely 'ew idea as &o &he pri'(iples +o.er'i'+ s&o(k %arke& %o.e%e'&s. He 3ases his opera&io's upo' (er&ai' 'a&ural laws whi(h, &hou+h e*is&i'+ si'(e &he world 3e+a', ha.e o'ly i' re(e'& years 3ee' su3Je(&ed &o &he will o) %a', a'd added &o &he lis& o) soB(alled %oder' dis(o.eries." 4#4L4 presu%a3ly is speaki'+ o) his ow' %arke& le&&ers, 3u& %ay also 3e speaki'+ o) le&&ers )ro% sa&is)ied su3s(ri3ers. The la'+ua+e here is so%ewha& a%3i+uous. 9. !. -a'' e*hi3i&ed &o a Jour'alis& &he le&&ers )ro% o&hers &ha& he had o' )ile: "He showed &he wri&er 'u%erous le&&ers )ro% %e' hi+h i' &he ar%y a'd 'a.y. &a&e e*e(u&i.es, 3a'ki'+ o))i(ials, wellBk'ow' (ler+y%e', a'd hos&s o) o&hers whose si+'a&ures &o le&&ers %ea' &ha& &he &ru&h has 3ee' spoke'. They are all %e' whose posi&io' a'd s&a'di'+ (ould 'o& a))ord &he% &o wri&e or say a'y&hi'+ u'less &hey k'ew &he &rue )a(&s a3ou& whi(h &hey were wri&i'+. This is a +rea& (redi& &o ;r. -a'' a'd i& pro.es &ha& he k'ows whereo) he speaks." The =our'al o) @o%%er(e, =a'. 15, 19,1.

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1F

&ell you where a'd whe' &o +e& i' ri+h&. 9ill 'a%e s&o(ks i' ;o'day>s le&&er &ha& will +o )i.e poi'&s i' your )a.or 3e)ore o'e a+ai's& you. 4'e &e' share &rade will %ake &he pri(e o) a %o'&h>s su3s(rip&io', a'd do i& 'e*& week. $) i& does'>& $>ll re)u'd your %o'ey. $) &his is )air e'ou+h )or you, se'd %e /5 )or o'e week, or /12 )or o'e %o'&h>s daily le&&ers, a'd a& &he e'd o) &hir&y days you will see i& was &he wises& %o.e you e.er %ade a'd &he 3es& i'.es&%e'&. 4#4L4, 1,0 Li3er&y s&., New York (i&y."

+++ The New York Herald, ;o'day, ;ay ,D, 1909. "BULL ;A#K"T "#apid ad.a'(es will o((ur i' %a'y s&o(ks &his week. ;y le&&er will poi'& ou& &he a(&i.e o'es a'd keep you o)) &he dead o'es. !o'>& %iss a ,5Bpoi'& %o.e i' =uly whea&. $ (a' &ell you whe' &o 3uy a'd i& will 'o& +o o'e poi'& a+ai's& you. e'd /5 )or o'e week or /12 )or o'e %o'&h>s daily le&&ers. 4#4L4. 1,0 Li3er&y s& ., New York (i&y."

+++ The New York Herald, u'day, ;ay 00, 1909. ";arke& ;o.e%e'&s CoreB &old ;a&he%a&i(ally "*a(&. "9he' you are i' dou3& as &o wha& &he %arke& will do, re%e%3er %y (al(ula&io's, 3ased o' &he law o) .i3ra&io', are always (orre(&. @opies o) re(e'& le&&ers, o' )ile i' %y o))i(e, will show you how (orre(&ly &his law poi'&ed ou& &he ad.a'(e i' &eel a'd a& &he sa%e &i%e )ore(as&ed &he de(li'e i' #eadi'+. Bi+ %o.es i' %a'y s&o(ks &his week. $ (a' pu& you o' li.e o'es a'd keep you o)) &he dead o'es. $) you ha.e &ried o&her le&&ers

a'd )ou'd &he% 'o +ood, do'>& (o'de%' %i'e u'&il you ha.e &ried &he%. pe(ial >pho'e ser.i(e daily &o (lie'&s i' (i&y. Ter%s, /5 per week, /12 per %o'&h, i'(ludi'+ daily le&&ers o' (o&&o', s&o(ks a'd +rai'. 4#4L4, 1,0 Li3er&y s&., New York (i&y."

+++ The New York Herald, u'day, =u'e ,F, 1909. ";arke& ;o.e%e'&s CoreB &old, ;a&he%a&i(ally "*a(&. "$) you are i' dou3& as &o wha& &he %arke& will do 'e*& week you 'eed %y le&&er. o%e s&o(ks +oi'+ hi+her1 o&hers will de(li'e. Bi+ %o'ey i' 9hea& a'd @o&&o'. @a' +e& you i' ri+h&. !aily le&&er /5 per week, or /12 per %o'&h. Try i& a'd 3e (o'.i'(ed. 4#4L4, 1,0 Li3er&y s&., New York (i&y."

+++

The New York Herald, u'day, =uly 11, 1909. ";A#K"T ;4G";"NT "Always e*a(& whe' (al(ula&ed 3y &he law o) .i3ra&io'1 &ry %y le&&ers a'd 3e (o'.i'(ed1 /5 per week, /12 per %o'&h1 will )ur'ish i')or%a&io' &o &hose residi'+ i' (i&y )or par& o) pro)i&s1 i'.es&i+a&e &his pla'. 12 4#4L4, 1,0 Li3er&y s&., New York."

12

Li&&le %ore &ha' &wo years a)&er 4#4L4 %e'&io's his willi'+'ess &o )ur'ish i')or%a&io' i' e*(ha'+e )or a par& o) &he pro)i&s resul&i'+ )ro% &ha& i')or%a&io', we )i'd &ha& 9. !. -a'' had a pla' hi%sel), as a (y'i(al repor&er )or The 7New York8 u' o3ser.ed i' &he !e(. 10, 1911 issue: "A'y3ody who happe's &o 3e hu'&i'+ )or &he se(re& o) )or&u'e 'eed o'ly &o walk up or ride up BB a'y way &o +e& up BB si* )li+h&s &o &he &op )loor o) &he old )ashio'ed 3uildi'+ a& 21 New s&ree&, where he will )i'd 9. !. -a'' wai&i'+ a'd willi'+ &o i%par& i& &o hi%. 4) (ourse ;r. -a'' is'>& Aui&e ready &o +i.e away his se(re& o) +e&&i'+ ri(h Aui(k )or 'o&hi'+. Hardly &ha&. Bu& i) you o))er hi% Jus& a li&&le &hi'+ like /E00 (ash a'd pro%ise &o pay hi% /E00 %ore o' &he i's&all%e'& pla' ou& o) your 'e& pro)i&s a'd &he' 5 per (e'&. ou& o) your 'e& pro)i&s &herea)&er u'&il you die, he will lease i& &o you +ladly. You %us&'>& &ell a'y3ody else a3ou& i& a'd you %us& 3e ho'es& i' wha(ki'+ up wi&h hi% or &here>ll 3e &rou3le."

+++

The New York Herald, ep&. 5, 1909. ";A#K"T ;4G";"NT C4#"T4L!, ;ATH";AT$@ALLY "MA@T. "Are you i' dou3& as &o wha& &he %arke& will do duri'+ &he 'e*& &e' daysN $) so, do'>& )ail &o su3s(ri3e )or %y ;A#K"T L"TT"# . The %arke& is .ery da'+erous 'owP o%e s&o(ks will de(li'e ,0 poi'&s while o&hers will ad.a'(e. $ will keep you ri+h& 3o&h ways. 100 poi'& %o.e i' (o&&o' s&ar&s &his week, also 10 poi'& %o.e i' whea&. !o'>& o.erlook &hisP 4'e week>s &rial, /0, or /12 per %o'&h. 4#4L4, 1,0 Li3er&y s&., N.Y."

+++ The New York Herald, u'day, 4(&. ,D, 1909. "BULL B"9A#"P B$- B#"AK @4;$N-. "$) you are lo'+ o) s&o(ks a'd wai&i'+, hopi'+ )or a rally &o +e& ou&, you 'eed %y ad.i(e. &o(ks i' da'+erous posi&io': 3i+ %o.es a& ha'd. You will 'eed e*per& ad.i(e &o a.oid hea.y losses. ;y > ys&e%> 3ased o' &he Law o) Gi3ra&io' e'a3led %e &o %ake 1D0 &rades a'd o'ly )i.e showed losses, a'd &hese were o'ly s%all )ra(&io's. @a' you 3ea& %y re(ordN 19 Bi+ %o.es i' (o&&o' a'd whea&. ;y le&&ers will 3e wi''ers 'e*& )ew weeks. !o'>& %iss &he%. Ter%s, o'e week>s &rial /0, or /12 per %o'&h. 4#4L4, 1,0 Li3er&y s&., N.Y."

19

4#4L4>s (lai% here e.e' 3ea&s &he e'.ia3le &radi'+ )ea& o) 9. !. -a'' as repor&ed i' &he Ti(ker i'&er.iew: "!uri'+ &he %o'&h o) 4(&o3er, 1909, i' &we'&yB)i.e %arke& days, ;r. -a'' %ade, i' &he prese'(e o) our represe'&a&i.e, &wo hu'dred a'd ei+h&yBsi* &ra'sa(&io's i' .arious s&o(ks, o' 3o&h &he lo'+ a'd shor& side o) &he %arke&. Two hu'dred a'd si*&yB)our o) &hese &ra'sa(&io's resul&ed i' pro)i&s1 &we'&yB&wo i' losses. Q Here is a &rader, who, wi&hou& a'y a&&e%p& &o %ake a showi'+ 7)or he did 'o& k'ow &he resul&s were &o 3e pu3lished8, es&a3lishes a re(ord o) o.er 'i'e&yB&wo per (e'& pro)i&a3le &rades."

+++ The New York Herald, u'day, 4(&. 01, 1909. "TH" LA9 4C G$B#AT$4N G . -U" 94#K. "Cor so%e &i%e pas& $ ha.e daily predi(&ed &he rise a'd )all o) s&o(ks wi&h su(h wo'der)ul pre(isio' &ha& $ ha.e %ade &he wide awake people i'.es&i+a&e, a'd &he k'owi'+ o'es wo'der how i& is do'e. ,0 ".ery&hi'+ is si%ple i) you k'ow how. (ie'(e is pro3i'+ &he +rea& LA9 4C G$B#AT$4N,,1 whi(h (o'&rols &he har%o'ies o) li)e a'd 'a&ure.,, All %arke&s are su3Je(& &o u')aili'+ %a&he%a&i(al law, a'd $ ha.e dis(o.ered how &o apply &his law su((ess)ully &o @o&&o', 9hea& a'd &o(ks. $ a% a3le &o &ell you e*a(& poi'&s &o whi(h %arke&s will %o.e up or dow'. Ask yoursel) seriously (a' you do wi&hou& ad.i(e &ha& is a3solu&ely a((ura&e a'd relia3le. There is 'o +uess work i' %y %e&hod. You %ake %o'ey all &he &i%e. The proo) o) &he puddi'+ is i' &he ea&i'+1 $ a% usi'+ &his k'owled+e i' %y ow' spe(ula&io's e.ery day a'd %aki'+ %o'ey. How %a'y o) &he 9all s&ree& ad.isers are willi'+ &o pu& &heir ow' %o'ey where &hey ad.ise you &oN,0 Be)ore &aki'+ a le&&er 3e&&er i'.es&i+a&e a'd see i) &he o&her %a' has arri.ed1 i) so, i& is well &o &ake his ad.i(e a'd )ollow i&. !id you +e& (au+h& i' &he Aui(k s%ashes o) &he %arke& &his weekN $) so, you 'eed %y ad.i(e. ;y (lie'&s were &old &ha& &eel @o%%o' was a pur(hase
,0 5$'.es&i+a&e6 is e*a(&ly &he word used a3ou& o'e %o'&h a)&er &his ad appeared 3y #i(hard !. 9y(ko)), &he wri&er o) &he Ti(ker i'&er.iew, &o des(ri3e wha& he did i' (o''e(&io' wi&h &he work o) 9. !. -a'': " o repea&edly did his )i+ures pro.e &o 3e a((ura&e, a'd so di))ere'& did his work appear )ro% &ha& o) a'y e*per& whose %e&hods we had e*a%i'ed, &ha& we se& a3ou& &o i'.es&i+a&e ;r. -a'' a'd his way o) )i+uri'+ ou& &hese predi(&io's, as well as &he par&i(ular use whi(h he was %aki'+ o) &he% i' &he %arke&." As 4#4L4 was wri&i'+ &ha& people were 5i'.es&i+a&i'+6 his work, -a'' was (o%ple&i'+ his re%arka3le &radi'+ e*ploi&s 3e)ore &he Ti(ker represe'&a&i.e as par& o) &heir i'.es&i+a&i'+ o) hi%. 21 9. !. -a'' used &he sa%e words, 5&he +rea& law o) .i3ra&io',6 i' The Tunnel Thru the 0ir, p. FF i' 19,F a'd re)erred &o "&he +rea& law 3ehi'd i& all" i' &he 1919 ar&i(le i' The New York Herald ;a+a<i'e, addi'+, "There is 'o su(h &hi'+ as (ha'(e i' &his u'i.erse, a'd &he 'a%es whi(h we +i.e our (hildre' are +o.er'ed 3y &his +rea& law." ,, 4#4L4 says &he Law o) Gi3ra&io' (o'&rols 'a&ure. $' &he Ti(ker i'&er.iew, -a'' speaks %u(h o) 5'a&ural law6 asser&s &ha&: "Q e.ery (lass o) phe'o%e'a, whe&her i' 'a&ure or i' &he s&o(k %arke&, %us& 3e su3Je(& &o &he u'i.ersal law o) (ausa&io' a'd har%o'y." ,0 This is a hard Aues&io' &o a'swer a& &his da&e, 3u& a%o'+ &he ad.isers o) 4#4L4>s day, we do k'ow &ha& 9. !. -a'' was 3o&h a )ore(as&er a'd a &rader o) his ow' a'alysis, Jus& like 4#4L4.

3elow /F, a'd &ha& i& would 'o& sell a& /E 3e)ore a 3i+ rise. $) &his ki'd o) i')or%a&io' is wor&h /5 &o you per week, or /12 per %o'&h, you (a' ha.e i&. pe(ial 4))er. BB To 'ew su3s(ri3ers $ will se'd you %y le&&er daily )or o'e week )or /0, a'd &he' re)u'd your %o'ey i) you are 'o& sa&is)ied. Has&e' your re%i&&a'(e. o%e 3i+ %o.es i' s&o(ks, (o&&o' a'd whea& 'e*& week. $ will pu& you ri+h& o' &he%. 4#4L4, 1,0 Li3er&y s&. New York."

+++ The New York Herald, u'day, No.e%3er F, 1909. ";A#K"T ;4G";"NT C4#"T4L!. ;ATH";AT$@ALLY "MA@T. "Ha.e you %ade %o'ey i' s&o(ks &his weekN $) 'o&, you ha.e 'o& had proper ad.i(e. ;y (lie'&s were ad.ised &o 3uy U'io' ?a(i)i(, ou&her' ?a(i)i(, #eadi'+, A%al+a%a&ed @opper, A%eri(a' %el&i'+ a'd U. . &eel @o%%o' a& pri(es &ha& show ha'dso%e pro)i&s.,D 9e also ad.ised selli'+ @o&&o' shor& )or &he 3i+ 3reak whi(h is s&ill u'der way. The s&o(k %arke& is i' a .ery da'+erous posi&io'. A'o&her 3i+ 3reak is a& ha'd. $ (a' ad.ise you whe' &o sell lo'+ s&o(ks a'd +o shor& )or 3i+ pro)i&s. #e%e%3er, $ a% &he o'ly %a' who 3ases his (al(ula&io' o' &he LA9 4C G$B#AT$4N, whi(h +i.es e*a(& 3uyi'+ a'd selli'+ poi'&s.,5 !aily le&&er, (o.eri'+ (o&&o', s&o(ks a'd +rai's, /5.00 per week, or /12.00 per %o'&h. To 'ew su3s(ri3ers o'e week>s &rial )or /2.00. Has&e' your re%i&&a'(e a'd le& %e +e& you s&ar&ed &o %aki'+ %o'ey a& o'(e. 4#4L4. 1,0 Li3er&y s&., New York."

,D

Barely &wo years a)&er 4#4L4>s e'u%era&io' o) &hese s&o(ks, we )i'd &ha& 9. !. -a'' &elli'+ a repor&er &ha& upo' 3uyi'+ his %e(ha'i(al %e&hod, "$ will deli.er &o you (o%ple&e (har&s o' #eadi'+, U'io' ?a(i)i(, &eel, A%al+a%a&ed @opper, A%eri(a' %el&i'+ a'd @a'adia' ?a(i)i(, wi&h )ull i's&ru(&io's how &o 3e+i' i' &hese s&o(ks a& o'(e." The 7New York8 u', !e(. 19, 1911. Bo&h 4#4L4 a'd -a'' 'a%e si* s&o(ks a'd &he &wo lis&s o) s&o(ks are ide'&i(al, wi&h &he e*(ep&io' o) o'e s&o(k i' ea(h lis&. ,5 4#4L4 (lai%s &o 3e &he o'ly %a' ali.e who k'ew how &o apply &he Law o) Gi3ra&io' &o &he )i'a'(ial %arke&s. Less &ha' a %o'&h a)&er &his s&a&e%e'& was %ade, 9. !. -a'' was pro)iled i' &he Ti(ker i'&er.iew, i' whi(h he said: "A)&er e*haus&i.e resear(hes a'd i'.es&i+a&io's o) &he k'ow' s(ie'(es, $ dis(o.ered &ha& &he Law o) Gi3ra&io' e'a3led %e &o a((ura&ely de&er%i'e &he e*a(& poi'&s &o whi(h s&o(ks or (o%%odi&ies should rise a'd )all wi&hi' a +i.e' &i%e. The worki'+ ou& o) &his law de&er%i'es &he (ause a'd predi(&s &he e))e(& lo'+ 3e)ore &he &ree& is aware o) ei&her." His )rie'd a'd 3usi'ess par&'er 9illia% ". -illey said i' &he sa%e i'&er.iew: ";r. -a''>s (al(ula&io's are 3ased o' 'a&ural law. $ ha.e )ollowed his work (losely )or years. $ k'ow &ha& he has a )ir% +rasp o) &he 3asi( pri'(iples whi(h +o.er' s&o(k %arke& %o.e%e'&s, a'd $ do 'o& 3elie.e a'y o&her %a' o' ear&h (a' dupli(a&e &he idea or his %e&hod a& &he prese'& &i%e." -illey, we are )ur&her &old, had )or ,5 years "e*a%i'ed e.ery pie(e o) %arke& li&era&ure &ha& has 3ee' issued a'd pro(ura3le i' 9all &ree&". 4#4L4 (lai%s &o 3e &he o'ly perso' possessi'+ &he Law o) Gi3ra&io'1 less &ha' a %o'&h la&er, &he Ti(ker i'&er.iew (lai%s &ha& -a'' is &he o'ly perso' possessi'+ &he Law o) Gi3ra&io'. This would su++es& ei&her &ha& &he work o) 4#4L4 es(aped &he a&&e'&io' o) -illey, -a'', a'd -a''>s i'&er.iewer, Ti(ker edi&or #i(hard !. 9y(ko)), or &ha& 4#4L4 a'd -a'' were o'e a'd &he sa%e i'di.idual.