of such a corporation, and, to sustain the case, I would simply
present to a jury of honest men the representations in their advertising
literature, and then have the court instruct the same jury as to the
validity and limitations of their contract. Their advertising is
brilliant enough to dazzle the sun. Their contract is as dull as a mud
pie.

In addition to all of this comes the question of orcharding by proxy,
and the success of the unit or acreage system, and many other similar
questions; and let me say that I doubt if there is today in the United
States one large development scheme, either in pecan or apple orchards,
that will prove of ultimate financial profit and success to the
purchaser. The promoter may get rich--he has nothing at stake. In most
instances he has the price of the land in his pocket before there is a
lick of work done on it, and the payments come in regularly and promptly
to take care of his salary and the meager and unscientific development.

Of course I would not be understood as saying that pecan or apple
orchards cannot be made profitable. I am of the opinion that reasonable
sized orchards in proper locations and proper soil, of proper varieties,
with proper care in handling, are good investments, and, as proof of my
confidence, I am planting orchards both in the north and south. The
adjective "proper" which I have used here may seem insignificant at the
start but, believe me, before you have begun to clip the coupons off
your orchard bonds this adjective will loom up as important as Webster's
Unabridged Dictionary. In fact you will wonder how it has been possible
for anyone to forecast in one word such comprehensive knowledge. Think
of a man a thousand miles away putting money into the hands of some
unknown concern, for five acres of unknown land, to be set in unknown
varieties of trees, to be cared for by unknown individuals. Can he not
see that, in keeping with all the other unknown factors, his profits
must also be unknown?

We look at a great industrial enterprise, such as the steel trust, and
marvel at its success. But it must be remembered that this industry
started many years ago, and step by step built furnace after furnace and
mill after mill, after the owners had tried out and become familiar with
all the factors of that industry, and after great corps of trained
experts had been developed, and after science had given to this industry
many of the most marvelous mechanical invent