Week Solutions Essay Example

Week Solutions Paper Managers often increase dividends temporarily when earnings are unexpectedly high for a year or two. False. Dividends are smoothed. Managers rarely increase regular dividends temporarily. They may pay a special dividend, however, d. Companies undertaking substantial share repurchases usually finance them with a offsetting reduction in cash dividends. False. Dividends are rarely cut when repurchases are being made. 17. Dividends and value Little Oil has outstanding 1 million shares with a total market value Of $20 million. The firm is expected to pay $1 million Of dividends next year, and thereafter the amount paid out is expected to grow by 5% a year n perpetuity. Thus the expected dividend is $1. 05 million in year 2, $1. 105 million in year 3, and so on. However, the company has heard that the value of a share depends on the flow of dividends, and therefore it announces that next years dividend will be increased to $2 million and that the extra cash will be raised immediately by an issue of shares. After that, the total amount paid out each year will be as previously forecasted, that is, $1. 5 million in year 2 and increasing by 5% in each subsequent year. A. At what price will the new shares be issued in year 1? At t -O each share is worth $20. This value is based on the expected stream of dividends: $1 at t I, and increasing by in each subsequent year _ Thus, we can find the appropriate discount rate for this company as follows: 100% Beginning at t = 2, each share in the company Will enjoy a perpetual stream Of growing dividends: SSL . 05 at t = 2, and increasing by 5% in each subsequent year. We will write a custom essay sample on Week Solutions specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Week Solutions specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Week Solutions specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Thus, the total value of the shares ATT= 1 (after the t = 1 dividend is paid and after N new shares have been issued) is given by: If Pl is the price per share ATT = 1, then: and: Pl a N = From the first equation: Substituting from the second equation: so that Pl = 520. 00. B. How many shares will the firm need to issue? With Pl equal to $20 the firm will need to sell 50,000 new shares to raise c. What will be the expected dividend payments on these new shares, and what therefore will be paid out to the old shareholders after year 1? The expected dividends paid at t 2 are $1 increasing by 5% in each subsequent year. With shares outstanding, dividends per share are: $1 ATT = 2, increasing by in each subsequent year. Thus, total dividends paid o old shareholders are: $1 at t 2, increasing by in each subsequent year. D. Show that the present value of the cash flows to current shareholders remains 520 million, Poor the current shareholders: 21. Dividends vs.. Repurchases Here are key financial data for House of Herring, Earnings per share for 2015 55. Number of shares outstanding mm Target payout ratio Planned dividend per share SO. 75 Stock price, year-end 2015 $130 House of Herring plans to pay the entire dividend early in January 2019. All corporate and personal taxes were repealed in 2017. A. Other things equal, what will be House of Herrings stock price after the planned dividend payout? $130 2. 75 = $127. 25. B. Suppose the company cancels the dividend and announces that it will use the money saved to repurchase shares. What happens to the stock price on the announcement date? Assume that investors learn nothing about the companys prospects from the announcement. HOW many shares Will need to be repurchased? Again, assuming investors learn nothing from the announcement about the House Of Herrings prospects. Nothing. The stock price will stay at $130. 46,154 shares will be repurchased. C. Suppose the company increase dividends to $5. 50 per share and then issues new shares to recoup the extra cash paid out as dividends. What happens to the with- and ex-dividend share prices? How many shares will need to be issued Again, assume investors learn nothing from the announcement about House of Herrings prospects, The with-dividend price stays at 5130. Ex-dividend drops to 5124. 50; 883,534 shares will be issued. 25. Payout and the cost of capital Comment briefly on each of the following statements: a. Unlike American firms, which are always being pressured by their shareholders to increase dividends, Japanese companies pay out a much smaller proportion of earnings and so enjoy a lower cost of capital, This statement implicitly equates the cost of equity capital with the stocks dividend yield. If this were true, companies that pay no dividend would have a zero cost Of equity capital, Which is clearly not correct. B. Unlike new capital, Which needs a stream Of new dividends to service it, retained earnings have zero cost. One way to think of retained earnings is that, from an economic standpoint, the many earns money on behalf of the shareholders, who then immediately reinvest the earnings in the company. Thus, retained earnings do not represent free capital. Retained earnings carry the full cost of equity capital (although issue costs associated with raising new equity capital are avoided). C. If a company repurchases stock instead of paying a dividend, the number of shares tails and earnings per share rise. Thus stock repurchase must be always be preferred to paying dividends. Fifth tax on capital gains is less than that on dividends, the conclusion of this statement is correct; i. . , a stock repurchase is always preferred over dividends. This conclusion, however, is strictly because of taxes, Earnings per share is irrelevant. 7. Repurchases and PEPS Many companies use stock repurchases to increase earnings per share. For example, suppose that a company is in the following position: Net profit $10 million Number Of shares before repurchase I million Earnings per share $10 Price-earnings ratio Share price $200 The company now repurchases 200,000 shares at $200 a share, The number of shares declines to 800,000 shares and earnings per share increase to $12. 0. Assuming the price-earnings ratio stays at 20, the share price must rise to SO. Discuss. One problem with this analysis is that it assumes the companys net profit remains constant even though the asset base of the company shrinks by 20%. That is, in order to raise the cash necessary to repurchase the shares, the company must sell assets. If the assets sold are representative of the company as a whole, we would expect net profit to decrease by so that earnings per share and the PIE ratio remain the same. After the repurchase, the company will look like this next year: Net Profit: $8 million Number of Shares: 0. Million Earnings per Share: Price-Earnings Ratio: Share Price: 3200 28, Dividends and taxes The middle-of-the-road party holds that dividend policy doesnt matter because the supply of high-, medium-. And low-payout stocks has already adjusted to satisfy investors demands, Investors who like generous dividends hold stocks that give them all the dividends that they want. Investors vivo want capital gains see ample low-payout stocks to choose from Thus, high-payout firms cannot gain by transforming to low-payout firms, or vice versa. Suppose the government reduces the tax rate on dividends but not on capital gains. Suppose that before this change the supply of dividends matched investor needs. HOW would you expect the tax change to affect the total cash dividends paid by U. S. Corporations and the proportion of high- versus low-payout companies? Would dividend policy still be irrelevant after any dividend supply adjustments are completed? Explain. Even if the middle-of-the-road party is correct about the supply of dividends, we still do not know why investors wanted the dividends they got.

Niobium (Columbium) Chemical and Physical Properties

Niobium (Columbium) Chemical and Physical Properties Niobium, like tantalum, can act as an electrolytic valve allowing alternating current to pass in only one direction through an electrolytic cell. Niobium is used in arc-welding rods for stabilized  grades of stainless steel. It is also used in advanced airframe  systems. Superconductive magnets are made with Nb-Zr wire, which retains superconductivity in strong magnetic fields. Niobium is used in lamp filaments and to make jewelry. It is capable of being colored by an electrolytic process. Niobium (Columbium)  Basic Facts Atomic Number: 41Symbol: Nb (Cb)Atomic Weight: 92.90638Discovery: Charles Hatchet 1801 (England)Electron Configuration: [Kr] 5s1 4d4 Word Origin:  Greek mythology: Niobe, daughter of Tantalus, as niobium is often associated with tantalum. Formerly known as Columbium, from Columbia, America, the original source of niobium ore. Many metallurgists, metal societies, and commercial producers still use the name Columbium. Isotopes: 18 isotopes of niobium are known. Properties: Platinum-white with a bright metallic luster, although niobium takes on a bluish cast when exposed to air at room temperatures for a long time. Niobium is ductile, malleable, and highly resistant to corrosion. Niobium does not naturally occur in the free state; it is usually found with tantalum. Element Classification: Transition Metal Niobium (Columbium) Physical Data Density (g/cc): 8.57Melting Point (K): 2741Boiling Point (K): 5015Appearance: shiny white, soft, ductile metalAtomic Radius (pm): 146Atomic Volume (cc/mol): 10.8Covalent Radius (pm): 134Ionic Radius: 69 (5e)Specific Heat (20 °C J/g mol): 0.268Fusion Heat (kJ/mol): 26.8Evaporation Heat (kJ/mol): 680Debye Temperature (K): 275.00Pauling Negativity Number: 1.6First Ionizing Energy (kJ/mol): 663.6Oxidation States: 5, 3Lattice Structure: Body-Centered CubicLattice Constant (Ã…): 3.300 Sources Los Alamos National Laboratory (2001)Crescent Chemical Company (2001)Langes Handbook of Chemistry (1952)CRC Handbook of Chemistry Physics (18th Ed.)

Creole linguistics Essay Example | Topics and Well Written Essays - 500 words - 1

Creole linguistics - Essay Example Further studies shows that they have some aspects of their source grammar, however. Caribbean writer Kamau Brathwaite introduced the term creolisation and since then, both Caribbean and non Caribbean researchers have begun a quest for further studies. Rex Nettleford, Sidney Mintz and Sally Price are some of the persons who have made contributions. Creole has become field of study in linguistics and in the region as well. The definition of creole varies. Its meaning can range from language type to cultural and racial identification. To arrive at a basic definition one has to examine the historical nature. Many writers have theorized the origin of the term creole. Some claim that it is connected to Spanish and or Portuguese language while others trace it back to Africa. There exists a common pattern, however, in creolisation. Creole has also a racial and cultural connotation. In the nineteenth century creole could mean a white person born outside of Europe in the colonies. It could also refer to a Jamaican, or also a person of mixed race. There were also negative attitudes towards creoles. Some whites born in Europe believed the creoles to be inferior. On the other hand the creole blacks thought themselves superior to the newly arrived Africans. The creole population was soon to be identified by new culture and attitudes. Creoles were also identified by their adaptation to the new environment outside of Africa. Eventually creole became synonymous with nationalism. Theorists disagree on the definition of creole culture. Some theorists point to Voodoo and Rastafarian religions as elements of creolisation while others parallel the afro Caribbean culture on a whole with creolisation. In order to arrive at a compromise one has to examine certain principles. One of the main principles involves moving away from the search for origin and focusing instead on the available

The Harlem Renaissance and the Harmon Foundation Essay

The Harlem Renaissance and the Harmon Foundation - Essay Example This extended the requisite space and opportunity to the black creativity to flourish. It was the Caucasian real estate developer, William E Harmon, who evinced an immense interest in the African American creativity, and founded the Harmon foundation in 1922. The objective of Harmon foundation was to recognize and support African American achievements in the field of fine arts, literature, education, business, music, religious service, science, farming and race relations. Harmon foundation played an important role in promoting racial tolerance and in bringing to limelight the contributions made by the African Americans to the national culture. Hale Woodruff, Langston Hughes, Palmer Hayden, Countee Cullen and Archibald Motley were some of the noteworthy artists that were extended recognition and support by the Harmon foundation (Aberjhani & West 147). Many artists and scholars accused Harmon foundation of being paternalistic and segregated in its approach as it celebrated the works of only African American artists (Aberjhani & West 147). Harmon Foundation was also blamed for being condescending towards black artists (Aberjhani & West

Propaganda Essay Example | Topics and Well Written Essays - 1000 words

Propaganda - Essay Example Propaganda The word ‘propaganda’ was defined by Linebarger (1954) as consisting of â€Å"the planned use of any form of public or mass-produced communication designed to affect the minds and emotions of a given group for a specific purpose, whether military, economic, or political" (p. 39). With the definition, one could effectively present an analysis of an advertisement that has been recognized as one of the best viewed ads of 2011: â€Å"Volkswagen’s â€Å"The Force†, in which a young Star Wars fan tries to use â€Å"The Force† on his father’s new Passat† (Holmes, 2011, par. 2). The advertisment definitely falls under the definition of a propaganda in terms of using mass-produced communication through the television and posting online with the purpose of eliciting emotion from the audience regarding the launching of 2012 Passat. In this regard, the paper aims to proffer issues pertinent to an analysis of the ad according to the foll owing categories: context, ideology, visual appeals, language, identification and otherness. The main message of the ad would be discussed as well as its effectiveness in eliciting emotional appeal from a wide range of audience. Context The ad was created by Interpublic Group's Deutsch Inc.'s Los Angeles office and was released online on February 2, 2011 (Hall, 2011). It was created for the Super Bowl, but, according to Holmes (2011), â€Å"VW had posted the clip online two weeks before the sporting event — allowing the clip to rack up 10 million views before it ever aired on TV† (par. 2). It was reportedly posted in YouTube and has topped the most viewed and shared branded video totalling â€Å"4.71 million social media shares and 46.05 million views since its online release† (Hall, 2011, par. 1). Description of the Ad? The advertisement began with the famous Star Wars music at the background and a boy in a Darth Vader suit walking along the hall of their home trying his supposed telekinesis powers on different objects: the stationary bike, the dog, the washing machine, a doll seated on a bed, and even a plate of sandwich that was reluctantly pushed over to him by his mother – all to his dismay and disappointment. When he heard his father’s car coming through the driveway, he immediately tried his power on the new Passat. Without his knowledge, and as observed by his parents over the kitchen window, his father used the remote control to start on the ignition of the Passat to coincide with his prodding for ‘the force’ - in total amazement and surprise of the boy. ?Message The message of the ad was that the vehicle responds to the needs of the family, including an unsuspecting boy – who wanted to test if he has any powers on objects. By responding to his efforts, the new Passat would be emotionally appealing to the boy and to the whole family. As reported by Pathak (2011), its creator, Mike Sheldon, CEO of Deutsch LA, the West-Coast arm of Deutsch Inc., disclosed that the main message of the ad was to focus on tapping â€Å"into humanity rather than sheet metal. "We've got every element, from John Williams’ music to a cute six year old," he said. "The Passat is a family car, it's new this year and we have to reach those people"† (Pathak, 2011, pars. 11 & 12). Ideology The basic ideology that framed the worldview in this ad is the human appeal provided by the new Passat by being packaged as a family car – more than seeing it as a piece of steel parts and for its functionality. By using a boy and the appeal of the Star Wars character, Darth

Sickle Cell Disease Perspective: Genetic Anthology

Sickle Cell Disease Perspective: Genetic Anthology Grayson Jones  Ã‚   Sickle Cell Disease (SCD) is inherited which means that the disease is passed by genes from parents to their children. People who have SCD inherit two abnormal hemoglobin genes, one from each parent. SCD has many forms; however, the most common and severe form, sickle cell anemia, overwhelming affects African-Americans and Hispanics in the United States. This paper will analyze SCD; explore the social implications and any genetic advantages; and report on the current societal implications. Hemoglobin is a protein in red blood cells that carry oxygen throughout the body. Sickle Cell Disease (SCD) is a group of inherited red blood cell disorders which have abnormal hemoglobin. SCD is not contagious, like a cold or an infection, and is passed by one gene from each parent to their children. People with SCD have either one or two abnormal hemoglobin S genes. Sickle cell anemia is the disease that describes those with two hemoglobin S genes, hemoglobin SS. Sickle cell trait is the condition where the hemoglobin S gene is inherited from one parent and a normal hemoglobin gene is inherited from the other parent.   People with sickle cell trait are generally healthy and symptom free. Nevertheless, they are carriers of the defective hemoglobin S gene and can pass that defective gene to their children. The National Heart, Lung, and Blood Institutes (NHLBI) (2016) figure below shows the difference between normal and abnormal red blood cells.   Normal red blood cells contain hemoglobin that is disc shaped which allow cells to provide a steady flow of oxygen to the bodys tissues.   Abnormal red blood cells contain sickle hemoglobin which are not flexible and do not move freely to provide needed oxygen to the bodys tissues. Lack of tissue oxygen causes attacks of severe and sudden pain.   According to the NHLBI (2016), Most children with SCD are pain free between painful crises, but adolescents and adults may also suffer with chronic ongoing pain. The red cell sickling and poor oxygen delivery can also cause organ damage. Over a lifetime, SCD can harm a persons spleen, brain, eyes, lungs, liver, heart, kidneys, penis, joints, bones, or skin. Normal red blood cells live approximately 90 to 120 days while abnormal sickle cells typically last only 10 to 20 days.   This is due to the fact that sickle cells cannot change shape easily and burst apart or hemolyze (NHLBI, 2016).   The human body is continually reproducing new red blood cells to replace old blood cells which mean that a body with SCD has trouble keeping up with demand.   The affect is a lower than normal red blood cell count called anemia. The social implications of Sickle Cell Disease have been seen in a myriad of ways such as caregiving, community perceptions, and the health care system. Since SCD begins prior to birth and affects not only the children but the parents too, a rise in a family based approach to this disease has been seen. Mothers of a children with SCD are living in constant anxiety and stress that their child may become deathly ill at any moment, intense, complex nature of SCD crises as unpredictable, recurring, and potentially severe (Burnes, Antle, Williams, Cook, 2008). The disease can arise and be triggered by a fluctuation in temperatures, stress, lack of sleep, and other factors. Since the symptoms come on suddenly and intensely, then this makes it difficult to predict onset which cause families to live in constant state of fear. In the study, the mothers felt that they are left with all the responsibility and to be the overall caregiver, while the fathers distance themselves from the childs pa in. Another social implication of SCD is the community perception or lack of knowledge of the disease. SCD has not had a significant public awareness in the developing countries where most cases are prevalent, Most mothers had not even heard of SCD, and they did not know how the illness is transmitted (Burnes et al., 2008). The understanding is that women and men are not tested for the sickle cell trait and are not aware of how the disease is spread which has led to stigma about SCD in their cultures. There are many falsehoods about the disease such as contagious, a curse on ones family, or being at fault for having a child who is born with such a physical illness. In addition, a racist assumption of the disease exists and a feeling of being powerless to speaking up about the disease because one does not want to be thought of less than anyone else. The last social implication is what is identified in the health care system. There have been advancements in the treatment of SCD in first world countries, through medication and other treatments; however, ­Ã‚ ­ there is still a lack of treatment possibilities in the areas that are mostly affected by SCD. The overall complaint among families affected by the disease is that there is a lack of knowledge among medical professionals, did not know about SCD or how to treat its symptoms during a crisis (Burnes et al., 2008). Parents going into a hospital and having to tell the staff about treatments is scary. They think that they cannot trust professionals to take care of their child since these professionals lack the required education about such a serious disease. The overall leading social implication of SCD is the lack of knowledge and education that is associated with this disease. The Sickle Cell gene has a genetic protection against Malaria, which is a serious and sometimes deadly infectious disease.   Malaria is caused by a mosquito that is carrying a parasite harmful to humans and the mosquito bites the human. Symptoms include high fevers, chills, and other flu like signs. If a person who is a carrier of one sickle cell gene (heterozygous), has shown signs of lower mortality and morbidity rate among those who may become infected with malaria, Unexpectedly, heterozygous individuals experience some protection from malaria infections. Aidoo et al.(2002), demonstrate reduced mortality and morbidity, Aluoch 1997 reports higher resistance to malaria, whereas Hesran et al.(1999), demonstrate a reduced parasite load for heterozygous carriers of this otherwise damaging gene (Lidell, Oswusu-Brackett, Wallace, 2014).   Heterozygote Protection is when an individual who carries a normal allele and an infected allele are at an advantage and maintain that he terozygote presence in population. This is seen directly, When the malarial protozoan invades the red blood cells of heterozygotes, the parasites cause a relatively large reduction in the oxygen tension within the cells and thus contribute to sickling. The sickling of the red blood cells then impairs the protozoan growth and development (Howe, 2007). This means that the sickled blood cells stop the infection of malaria spreading throughout an individual; the heterozygotes are protecting the body from an infectious disease. The exact number of people living with Sickle Cell Disease (SCD) in the United States (US) is not known. According to the Centers for Disease Control and Protection (CDC) (2016), SCD affects approximately 100,000 Americans. SCD occurs among about 1 out of every 365 Black or African-American births. SCD occurs among about 1 out of every 16,300 Hispanic-American births. About 1 in 13 Black or African-American babies is [sic] born with sickle cell trait (SCT). Over the past four (4) decades, the US has made significant progress in the care of people with SCD. Homer and Oyeku (2016) explain the increase in survival rate due to healthcare progress: Even in the absence of the discovery of new medications, median survival has increased dramatically from death typically occurring during early childhood in the 1970s to survival now in the mid-50s for individuals with hemoglobin SS and mid-60s for individuals with hemoglobin SC disease. This progress has been made possible through universal newborn screening, the effective use of penicillin, and more recently of hydroxyurea, careful monitoring, and the provision of supportive care. Testing for SCD is easy and only requires a blood test. Early testing is imperative for diagnosis and early preventative measures to prevent complications. According to the CDC (2016), the US newborn screening program requires every baby to be tested for SCD. Prior to birth, amniotic fluid can be also tested to diagnose SCD. Newborn screening is extremely important and effective so that informed parents can discuss options with their primary care doctor, a hematologist or a genetics counselor. SCD disproportionately affects African-American and Hispanic communities which rely heavily on public healthcare and insurance programs. According to Hassell (2016), SCD therapies which include coordinated care by knowledgeable providers, integrating specialized and routine health care across the life span are not readily available to these targeted groups. A structured system of care is nonexistent for people with SCD. In addition, mounting evidence suggests that therapies of proven benefit, including prophylactic penicillin, transcranial Doppler, and hydroxyurea therapy, are not being utilized (Hassell, 2016). In conclusion, one does not contract SCD, one is born with SCD. This disease is easily identified by a simple blood test and disproportionately affects those people in low-income areas. SCD treatment options are not widely available to those afflicted by the disease. The social and societal implications are far reaching and significantly negatively impact the African-American and Hispanic communities. References Burnes, D. P., Antle, B. J., Williams, C. C., Cook, L. (2008). Mothers Raising Children with Sickle Cell Disease at the Intersection of Race, Gender, and Illness Stigma. Health Social Work, 33(3), 211-220. doi:10.1093/hsw/33.3.211 Retrieved from http://go.galegroup.com.nuls.idm.oclc.org/ps/i.do?id=GALE|A184643666v=2.1u=nu_mainit=rp=AONEsw=wauthCount=1 Centers for Disease Control and Prevention (2016). Data Statistics. Retrieved from https://www.cdc.gov/ncbddd/sicklecell/data.html Hassell, K. L. (2016). Sickle Cell Disease A Continued Call to Action. American Journal of Preventive Medicine. Volume 51, Issue 1, S1-S2. doi: http://dx.doi.org/10.1016/j.amepre.2015.11.002. Retrieved from http://www.ajpmonline.org/article/S0749-3797(15)00726-6/fulltext Homer, C. J. Oyeku, S. O. (2016). Sickle Cell Disease A Roadmap for Getting to Excellence Everywhere. American Journal of Preventive Medicine. Volume 51, Issue 1, S1-S2. doi: http://dx.doi.org/10.1016/j.amepre.2015.10.018. Retrieved from http://www.ajpmonline.org/article/S0749-3797(15)00702-3/fulltext Howe, E. M. (2007). Untangling Sickle-cell Anemia and the Teaching of Heterozygote Protection. Science Education, 16(1), 1-19. doi:10.1007/s11191-005-4712-7 Retrieved from http://web.a.ebscohost.com.nuls.idm.oclc.org/ehost/pdfviewer/pdfviewer?sid=a36e64b9-4230-45e0-accb-db8cdc436af1%40sessionmgr4009vid=1hid=4209 Liddell, C., Owusu-Brackett, N., Wallace, D. (2014). A Mathematical Model of Sickle Cell Genome Frequency in Response to Selective Pressure from Malaria. Bulletin of Mathematical Biology, 76(9), 2292-2305.   Retrieved from http://search.proquest.com.nuls.idm.oclc.org/docview/1560166043?OpenUrlRefId=info:xri/sid:primoaccountid=25320 United States Department of Health Human Services. National Heart, Blood, and Lung Institute (2016). What is Sickle Cell Disease? Retrieved from https://www.nhlbi.nih.gov/health/health-topics/topics/sca

A Reading of Blakes A Cradle Song Essay -- William Blake S. Foster Da

"A Cradle Song" S. Foster Damon's 1947 reading of "A Cradle Song" indicates that most early critics accepted Isaac Watts' Hush! my dear, lie still and slumber as the model for Blake's poem. However, Damon claims that "There is no more resemblance [between the two works]than there must be between any two cradle-songs. He also claims that the designs of the second plate have a "Raphaelesque hardness, which is in this day not pleasant." Vivian de Sola Pinto acknowledges the connections between "A Cradle Song" and Watts' work made by Damon and others but notes that no critic has yet explored the relationship between Blake's and Watts' work in detail, a task she takes on in her 1957 study. Placing Watts' "A Cradle Hymn" side-by-side with Blake's "A Cradle Song," de Sola Pinto analyzes their thematic and prosodic similarities and differences, ultimately reading Blake's song as the "delogicalization" of Watts' hymn. In his 1959 reading of "A Cradle Song," Robert F. Gleckner asserts that it is an expression of Blake's concept of moving into the realm of higher innocence citing as evidence that after 1815, Blake always followed "A Cradle Song" with "The Divine Image" in the sequence of Songs of Innocence. Gleckner discusses the movement from "pleasant dreams" and "sweet smiles" to "moans" and "weeping" as the movement from innocence into experience and ultimate innocence, "the hope of mankind" which is "the ultimate negation of self." Gleckner claims that this "song" is actually a "prayer," the same prayer mentioned in "The Divine Image." Hazard Adams' 1963 reading asserts that the poem is both a song and a "prayer for the continued innocence of the child." Adams classifies the poem as one of Blake's lullabies which Adams claims ... ...iam Blake. Cambridge: UP, 1973. Gleckner, Robert F. The Piper and the Bard: A Study of William Blake. Detroit: Wayne State UP, 1959. Glen, Heather. Vision and Disenchantment: Blake's Songs and Wordsworth's Lyrical Ballads. Cambridge: UP, 1983. Hirsch, E.D. Innocence and Experience: An Introduction to William Blake. Chicago: UP, 1964. Holloway, John. Blake: The Lyric Poet. London: Edward Arnold, Ltd., 1968. Keynes, Geoffrey. Commentary. Songs of Innocence and of Experience Shewing the Two Contrary States of the Human Soul. By William Blake. 1789,1794. New York: Orion, 1967. Leader, Zachary. Reading Blake's Songs. London: Routledge and Kegan Paul, 1981. Lindsay, David W. Blake: Songs of Innocence and Experience. Atlantic Highlands, NJ: Humanities Press, Int., 1989. Ostriker, Alicia. Vision and Verse in William Blake. Madison: U Wisconsin P, 1965.