Quotations are approximate. All stocks $100 par value unless otherwise specified.

*Cumulative. †Ex-Dividend. A. Listed on London Stock Exchange. B. Listed on Boston Stock Exchange. L. Listed on Louisville, Ky. Stock Exchange. N. Common shares have no par value. X. Ex-rights.

The Securities Department wishes to bring to the attention of members of the organization the following securities which it recommends for investment:

ASTOR, LENGY AND

STONE & WEBSTER

JOURNAL

OCTOBER, 1920

EDITORIAL COMMENT

Accepting the Universe

Some one once remarked to Thomas Carlyle that Margaret Fuller had decided to accept the universe. "Gad, she had better," he replied. We do not pretend to know what that excellent lady's view of the universe had been, but we suspect it was similar to the old theologian's view of the sinner - he loved him with the love of commiseration, but not with the love of approbation.

Most of us are out of tune with the universe. We pity it but we do not love it, and what we don't love we won't acceptif we can help it. The pity is that it takes some of us so long to find out that we cannot help it. It is a wise man (or woman) that decides to make the best of the matter and consciously accept the universe.

To accept is "to take what is offered; to agree or consent to; to acknowledge or promise to pay, as a bill." Some one, for example, may draw a bill of exchange against us. It is forwarded to us and if we really owe the money we "accept" it; that is, we write across the face of it "accepted." In other words, we recognize our obligation and agree to meet it on a certain date. Now that is really all that accepting the universe amounts to. The universe presents us with drafts. We are in debt to the universe and are bound in honesty and good sense to accept the drafts.

Apparently every one will not agree with us, for we have recently received the following anonymous communication: "Editor Stone & Webster Journal:

As I read the leading article in your September issue, 'Why Things Go Wrong,' it may be summed up that we we humans must choose between tyranny and ineffi