BEARD 



038 



BEARS AND BULLS 



Acconlmu to mythology, the B 

 listo, daughter of Lycaon, king of Arcadia. 

 who, arousing the jealousy of Juno, was 

 changed into a bear. Jupiter afterwards placed 

 her in the heavens with her son Areas, the 

 Little Hear. The accompanying illustration 

 he relative positions of the Great and 

 Little Hear. Held with the month at the top 

 its position will be approximately correct at 

 eight o'clock in the evening. 



BEARD, bt-i-rd, in modern usage, a term 

 confined to mean the hair on chin and cheek. 

 The word muuxtachi' is applied to the growth 

 on the upper lip, but this was formerly in- 

 cluded in the beard. As a woman's crowning 

 glory is said to be her hair, so in ancient times 

 was a beard regarded as a mark of full man- 

 hood. Slaves and eunuchs were beardless ob- 

 jects of contempt; women unfortunate enough 

 to grow beards were regarded as witches. 



Styles During the Centuries. The Egyptians, 

 with intense love of cleanliness, shaved their 

 faces except in times of mourning. The Greek 

 philosophers were long-bearded men, thinking 

 to derive added dignity from the luxuriant 

 growth. Shaving was introduced into Greece 

 by Alexander the Great, who ordered his sol- 

 diers to remove their -beards, so that their 

 enemies might not seize them in battle. Be- 

 fore the Norman Conquest it was customary 

 for the Saxons to shave their chins and cheeks, 

 but to allow their moustaches to grow. The 

 Normans were clean-shaven, their hairless faces 

 causing the Saxons to call them an army of 

 priests. The Japanese for centuries shaved 

 clean, but, even in Nippon, fashions change, 

 and the emperor now wears beard and 

 moustache. In the United States and Canada 

 the beard is not fashionable, by far the greater 

 number of men being clean-shaven, or wearing 

 only a moustache. In the British army it is 

 against the regulations to shave the upper lip, 

 while in the navy, both beard and moustache 

 must be worn or the face must be clean-shaven. 



A Note from History. The beard appears a 

 trivial matter to be the cause of a bloody war. 

 Yet it is said that the shaving of the beard of 

 Louis VII of France brought about a war with 

 Kngland that lasted 300 years. His wife 

 objected to a beardless husband. The king 

 divorced her and she became the wife of Henry 

 II of England. The throne of France was after- 

 wards claimed for her descendants. 



BEARD, DANIEL CARTER (1850- ), an 

 American naturalist, artist and writer, who has 

 come prominently before the public as founder 



of the first Boy Scouts' society, that upon 

 which the English society and the national 

 organisation in the United States were 

 modeled. When the Boy Scouts of America 

 were organized they chose him as their national 

 scout commissioner; he has also been president 

 of the Camp Fire Club, an association of 

 sportsmen, authors and artists, which is not to 

 be confused with the Camp Fire Circle. 



Beard was born at Cincinnati, O., studied at 

 Covington, Ky., and at the Art Students' 

 League in New York, and became known as 

 an illustrator of books and magazine articles. 

 He also had classes in art, that at the Woman's 

 School of Applied Design being probably the 

 first class ever organized in animal drawing. 

 Mount Beard, near Mount McKinley, is named 

 for him, though it is by no means certain that 

 he discovered it. See BOY SCOUTS. 



BEARS AND BULLS, names popularly ap- 

 plied to the two classes of brokers or oper- 

 ators on the stock exchange or board of trade. 

 The name is applied to them because of the 

 characteristic method of attack used by those 

 animals. The bear uses his claws and tries to 

 tear down his prey; the bull tosses it up with 

 his horns. So a stock exchange bear is one 

 who tries to force prices down, while a bull 

 tries to raise the prices. 



A bear sells stocks or bonds or grain in trying 

 to create a larger supply than demand. If he 

 succeeds, the price naturally falls, and he can 

 buy back the securities at the lower price. His 

 profit is the difference between the price at 

 which he sold and the price at which he bought 

 back the securities or grain. 



The bull on the contrary is always trying 

 to keep prices going upward. Like the bear, 

 he buys when prices are low, but to make a 

 profit he must force the price upward, whereas 

 the bear always tries to drive prices below 

 those at which he bought. The bull, who 

 wishes to maintain or raise prices, must buy 

 all that the bear offers. If he fails to do so 

 the price will begin to fall. The whole thing 

 is much like the seesaw which every child 

 knows. When the bull is on the high end, that 

 is, when prices are high, the bear tries to 

 get off the seesaw that is, he sells, in order 

 to drop prices. When the bear is on the high 

 end he makes every effort to get down, while 

 the bull tries to keep him up. Both sides can- 

 not be up at the same time, and when one 

 side goes up the other must go down. If 

 the general tendency of prices is downward, 

 it is usually said to be a bear market; it the 



