Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1903-09-17
RELIABILITY OF STOCKS.
Reproduction Of an Editorial Appear
ing in May Issue of the Conneeti-
cut Trade Journal.

In these DAYS OF general stock invest
ment with the prevalence OF worthless
stocks on the market It is pleasing TO ind
firm whose reliability is such that its
business motto has become by-word and
a simile for honest value. .lf it's Doug
lass, Lacy & Co.-That's all you need to
know about mining stock" has become
widely familiar and its sentiment has
come TO be recognized as truthful. The
confidence which has been gained by this
company is due to methods that might
well be followed by host Of its competi-
tors and they are, incidentally, methods
which furnish an assurance Of protection
to the investor. So remarkable are the
rules of business responsible for the Doug
lass, Lacey a Co. success that the State
Trade Journal quotes a few OF them.
Above all things the announcement made
concerning the reliability Of its invest
mcnts is one which attracts immediate
confidence. Whenever any company Tor
which il acts as fiscal agent proves, by
intelligent development, to be unworthy
OF further expenditure OF money, the firm
Immediately calls in the stock outstanding
among customers and issues in exchange,
from the trust fund as provided, the stock
Of some other company that has proven to
be successful in development, on basis
Of absolute protection for the amount
invested, thus guaranteeing the investor
full protection against any loss OF princi-
pal whether the company proves success
ful or otherwise. This is a guarantee
which is well worthy OF attention from
investors and il explains in part why the
firm has clientage OF over 1900 invest
ors.
Another feature Of the firms plan is the
treasury stock priority. the treasury stock
being the stock set apart for the develop
ment and operation OF the property and
entitled TO Y per cent annual interest on
the investment from the earnings Of the
before any OF the balance Of the
capital stock can draw dividends, after
which II shares equally With all the stock
OF the company, making Il in effect, a
preferred stock TO the extent OF the II per
cent priority. The results obtained from
this class Of stock are OF a sort which
pleasantly surprise the average investor.
Il Is a notable fact that Of the twenty
eight companies for which the firm has
acted as fiscal agents only eight have
proven wholly or partially unsuccessful. /
W each case the Investor was protected +
through the trust fund This remarkable 4
showing is due largely 10 the fact that the 4
irm VIII not sell the stock Of any cone T
5any whose management It does not, /.
ogether with lis customers, control +
such business methods as these are the i
sind that make Douglass, Lacey & Go. +
Investment suNGleht information 10 sale 4
guard an investor and the firm Is one
worthy Of both admiration and support
Is representative for New England Is r. i
baldwin Hammitt. whose business ability 1
Ias given it q wonderful foOthold in this 4
errit0ry, and whose enterprise was
Illustrated by the recent trip which he
ranged for the local agents TO visit and
xamlne the firms mines and properties
. the West and Southwest. They re-
lrned individually and collectively en-
ausiastie.