"Of the Greatest Windfall"

Chikayoshi Kurihara arrived in the U. S. 15 years ago at the age of 31. During the War he helped supply Japanese seamen and supplies for U. S. ships, later ran an employment agency. Then he began trading in Wall Street. Like many another Japanese, he did well. Because of his large circle of friends he was induced to go with A. Bridgens, one of the largest houses dealing in puts and calls./- In addition to landscape gardening Mr. Kurihara has been sincerely interested in literature. To his several hundred clients he has started , sending market letters. Especially interesting was a letter he sent out last week which was headed "The beautiful and cheerful spring market" and which took a very bullish stand on Auburn which "has been pushed questionably up from 101 to 217 1/2."

"Specially injecting on some stock," Mr. Kurihara said: "The hares and the pheasants in the wood should not be so curiously, however, if the shooter will find and kill the oldest wild boar which is jumped out of the wood, such game will be one of the greatest windfall. Auburn Automobile seems to be felt lonesomely and dishearten without a friend, if so; will seek as 'where is my brother?' Better to calls when one points away is small."

Less definite in statement was Mr. Kurihara's very sage observation that: ". . . The market to be worth while on the opposite side of the deep valley will make the crest market, the sharp-witted traders will benefit for and the good-sized profit as from the basement to the roof will multiply for the small seed money and an occasion to pour a water over the sleeping ears."

Mr. Kurihara's friends have faith in his advice. They believe that he has sometimes made fat killings and on the whole does better than the average trader. The course of the market during the past month has justified his letter of Feb. 10 in which, after a lyric description of spring, he said: "Just so the stockmarket, paralyzed by fear for business and liquidation by wearly holders of stocks, having passed through the period of depression (Winter), gives signs to the initiated of the dawn of a new era (Spring), with its many opportunities to the alert and thoughtful to participate in the coming Bull Market-- the creator of new Millionaires, as in the past; so by prompt and wise action, NOW, in the springtime of this Market, will satisfactory results be obtained."

/-Puts and calls are options. A put is an option which guarantees that its maker will buy a stated number of shares within a given time limit at a certain price. A call is an option which guarantees that its maker will sell stock in the same manner. A 30-day put or call costs $137.50 for 100 shares. The price at which the stock will be bought in a put is at a certain number of "points-away" below the market and a call is the opposite. The "points-away" are governed by supply and demand. Traders use puts and calls as a means of speculation, and also to protect themselves. A trader long 100 shares of stock at $.00 would often be glad to buy a 30-day put on 100 shares at $95, which would of course limit his loss to $500 plus the $137.50 price of the put.

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