Business: One-Man Bull

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In hard times one of the glummest spots in the U. S. is the plot on Wall Street where stands the New York Stock Exchange. Since last fall's slump in the market few wives of habitues of that spot have bought fur coats. But to Mr. Aaron Mendele Kaye, from a more favorable spot on Manhattan's West 46th Street, things do not look so glum. One day last week, as proprietor of the Ritz Fur Shop, he sent telegrams to President Roosevelt and Secretary Morgenthau saying that despite everything he still had confidence in Big Business; to prove it he would start a one-man bull movement on the New York Stock Exchange. Next day he advertised in the Wall Street Journal offering to accept all stocks selling at $40 or more at ten points above the market (cheaper stocks on a pro rata basis) in barter for his "fine fur garments."

First day Mr. Kaye sold five fine fur garments. After subtracting the price of his telegrams and advertising, he had a profit of more than $500. In one case a $600 mink was traded for 25 shares of Childs preferred, 30 shares of Houston Oil, 25 shares of International Hydro Electric and $68.41 in cash. Sylvia Feldman, one of Mr. Kaye's bookkeepers, became so confused figuring up the exchange value of RCA common and Persian Lamb that she had to go home for the rest of the day. Next morning Mr. Kaye put another advertisement in the Wall Street Journal: "Maybe I am an optimist . . . maybe I am all wrong . . . but my offer is still good."