The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1875-01-05
INVESTMENTS FoR INCOME.

INVESTMENTS FOR INCOME.
There is class of investors who, though
they have suffered sufficiently during the
past year to teach them wisdom, ought to
have a wise word said to them concerning
their investments fo.' the future. Many,
alas who invested unwisely, will never
have anything to invest again, and will
have nothing but their late born wisdom
to show for their money but there is al
ways a considerable widows apd
orphans, professional men with small for
tunes, farmers aad mechanics who have
something laid by for rainy day, and
modest men of business, who getting
little more money than they care to use,
wish to "salt it down"-who really need
somc rules to 60 BY in order to insure
their future safety.
There are three classes of Investors in
the various popular securities: 1st.
Spectators. who care nothing about the
intrinsic value Of a security provided they
can in some way, manipulate it so as to
get profit out Of it in the rapid handling
or take the advantage of the manipula,
tion of others ID. Business men who
invest for direct or indirect business re.
suits and Sd. Investors for income, that
shall be received surely and regularly to
supply the means of life.
Suppose a railroad scheme is started.
Spectators look to see how they eau
make anything out of 1t. Schemes are
more numerous than We have space to de.
scribe are entered upon to speculate in
lands, in contracts, in bonds, in anythi g.
Business men, to forward their own inter-
ests, help it along. 1t will open up their
land to settlement and Improvement, raise
the value Of their property along the lin
help their markets, facilitate their busi.
ness intercourse, and benefit them in 80
many ways, that they subscribe to the
stock, or take the bonds; yet they will
often do it without the remotest expecta.
tion that the road will pay as an invest.
ment, or that they can even, in auy di
rect way, get their money back Tc
these men OF speculation and business, We
have nothing to say. They know theil
own risks and will take caro- Of them
selves but the third class of investor:
are always called upon to aid the projec;
and they are Of cousre, uniformly bitten
With an experiment in railroads, or man
ufactories, or any sort of business enter.
prise, the investor for income has nothing
or should have nothing to do. No prom
ise of large dividends should seduce him
no trust in the proposed management, nc
show of confidence on the part of shrewd
business, should be permitted to throw
him off his guard. He should let every
untried enterprise alone, and touch moth
ing, under any circumstances, that has
not demonstrated its ability to earn tht
inceme promised in his bond, or expected
in his dividend, All new railroad bonds
should be Stunned as temptation of th'
devil. Ifthe business world cannot builc
its railroads without calling for help from
those who have no money to lose, lie
them remain unbuilt until it can. Moth
ing will suffer by the delay.
The grand desiderata with all investor
for income are genuine security in tn,
pay iue"t of intoroa. aud punctuaiity. IT,
these, in the natural order of things, W
have always to pay, in one way or anoth
er, premium. In other words, to &c
these wo must accept a moderate rate o
interest. High percentages of intcrcs
walk hand in hand With risk and will
risk the investor for income should hav
Just as little to do as possible. No ue'
banking institution, no new manufactory
no new railroad, no new steamship line
no new business enterprise Of any kind,o
to put the whole matter in its brieies
form and trucSt light, no cxporimen
should ever receive dollar from him.
There is always good bank stock 70
sale at its value. There are always goo
railroad bonds in the market at thei
value. There are government and stat
bonds always to be had for their value
) The investor for income must be conter
| with moderate interest," for the sake {
security and for the sake Of punctuality
and in the stock Of wcll-cstablished banl
ing institutions, in the bonds Of old an
prosperous railroads, and in state and nj
tiona securities, he can always find wh'
he wants. Better than any Of these il
vestments is the mortgage on real estai
for money loaned. Land, when not tc
!, near the Mississippi river, does not ru
away. Tens Of thousands of busine
men invest in bonds and mortgages to il
sure themselves against losing their .
in handling. while investors for incon
: are beset on every hand by them to e
gage in new schemes in which they {
not dare to put their own money
The great foes which investors for i
come are to fight constantly are their ov
greed. their own ignorance. and their ov
y crednlity, II they will believe nothii
= touching an investment iha, has not be,
p. proved, if they will make il rule nev
;, to touch an experiment, If they will 7
member that perfect security of the
y y principal is better than higher rate
interest upon il. aud stop reading he 4
vertisemehtS ol new schemes in the new
:, papers. they will whe tine door Of Il
" next panic shuts, have their coat tai
sa iely under their arms, and may tn
IN around and examine the situation at tn,
is leisure Dr.. J. q, HoILANp,- in Scri
\. ner's far December.
D. BRooksvILLE. Vt Dec. 2S, 1874
4. Id,for ef M, Ryito
A.. III l.f, l.. D..