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PCDid the Babe call that shot? Read the accounts, and decide for yourself:
http://en.wikipedia.org/wiki/Babe_Ruth's_Called_Shot#Rediscovered_16_mm_films
This photo is a video grab from one of two films taken by fans that day:
And here is a link to audio of the announcer's description of the homer, followed by the Babe's own account (the first clip could have been recorded after the homer, and is therefore suspect, but the Babe's words are the Babe's words ... to be taken with the proverbial grain of salt):
http://www.authentichistory.com/audio/1930s/sports/19321001_Babe_Ruth_Calls_His_Shot.html
I suppose there's no way to ever know for sure, but it is clear that the Babe AT LEAST gestured to the Cubs bench (if not to the outfield), with two strikes, said SOMETHING, and then hit the longest homer Cubs fans had ever seen at Wrigley up until that time.