"The Ticker and Investment Digest," December 1909
"Every movement in the market is the result of a
natural law and of a Cause which exists long before the Effect takes place and
can be determined years in advance. The future is but a repetition of the past,
as the Bible plainly states: `The thing that hath been, it is that which shall
be; and that which is done is that which shall be done, and there is no new
thing under the sun.' -Eccl. 1:9."