The San Francisco call., 1910-02-27
In Local
Markets

In spite OF the holiday interrup-
ton 70 business, glance over the
records viii show that the trans
actions made on the local exchanges
million dollars
Conditions are most satisfactory.
as prices were well sustained and
the trading was quite general
greater volume was in the public
utilities bonds.
The reason ascribed for this is
that the financial institutions haV-
ing large deposits Of cash on hand
are converting the same into non
taxable securities in anticipation of
the yearly appraisemenL
There are many attra active inyest-
nents among the securities listed on
the local exchanges.
AS always, since the investing e
public has become convinced OF
their value for investment, the oil
stocks have received their full share
OF attention and business, and there
has been a decided tendency TO
higher price levels throughout the
list
only A comparatively small per-
ceutsge of the investing public is
aware Of the absolute stability of
the oil industry, of this state or Of
its great and growing future. II
easily OvershadOWs every other line
/ Of business in California.
ne investor OF l0QdE - S6EhAl1B
Investments that combine safety and
large returns. and is most naturally
turning 10 the shares OF the call
fOrnis oil companies, which provide
those requisites ia mucn greater
degree than almost any other form
Of inves stTnent. and, in addition, seem
practically exempt from such vio-
tent reactions ia market price as
the past few years have. proven to
be the, case with securities listed
on the eastern exchanges and con-
trOlled by the financial interests
1here.
II is observable that there is
.cOnparafiVelE little speculating In
California oil shares. They are most
ly purchased for investment, and
in consequence the volume of busi-
+ ness on the exchanges where oil
shares are listed is not as large
ss II would be IL the shares were re-
garded as speculative instead of in
weEtmeut securities.
Probably the most noteworthy ex-
(. ceptiou VIII be found In Associated
Oil This issue has, for long time.
been regarded as d speculative
stock, and the violent fluctuations in
price together with the great
amounts constantly changing hands,
goes far towards supporting such
II has again been the heaviest
trader during the week and atten-
ton has been somewhat concen-
rated LlfU lIr WF(dAbH lllE lnEEA-
ing OF the directors is close at
hand, and the prediction is again
being made that a dividend VIII be
declared.
such action would probably re-
suit in placing the issue upon an
plane, and as the rate, If divi-
dend should be declared at this
time, IS likely TO be per cent on
par. the price viii be apt TO advance
10 SO. with a decided recession If no
action In regard TO dividends trans
piree at the meeting
Some investors, unfamiliar with the oil
industry. are inclined 10 fear exhaustion OF
tie oil deposits. A little investigation on the
part OF the timorous viii develop the TACT
that ia various fields OF this state there are
wells that have been producing oil from l2
10 20 years, and the reports OF the ultra
conservative government experts VIII show
that little fear need be eurertained OF
diminutioD Of the supply Tor many years 10
For years past many investors in the oil
shares Of this state have been receiving re-
turns Of 20 to 40 per cent on their invest
noents and 10 numerous Instances even much
greater returns. and there y every 1nolca-
ton that present dividends viii be further
Increased, al there Is particularly oennlte
approach 10 higher prices Tor the crude oil
II takes a good many years for an in
- - yet bsck tie sum OF his original
Investment when he Is receiving only or
Der cent interest. but il only takes years
srben the return is 20 per cent. and pro
mort iona felE feWer years a. iut EdNc
'.reases At the lower interest rates he has
fnsf "a many more years in which he must
fake the regular business chance Of loss.
either of interest or principal
-rbe 0uick return Of the full amount OF the
oriqfusi investment is one Of the strongest
reronnendations for the purchase OF Premier
shares. ,,.s, -
vii be Increased 10 point that VIII repre-
so.t '.ver Is per cent Oh the investment al
mo presenf price for the shares. and before
fIo nr1rerfr Is entirely drilled the net earn
in..s each wear should easily approx innate
NJ amount Of the original inFestment--and
this poinf should be reached WITHIN fhree
years.
Premier has everything that should appeal
g, Tho careful conservative investor who Is
looking Tor safety Of principal and large re
turns present large production assured
dividends aud a great future
r. Thompson. vice president o. me
company is authority FOR the statement Anst
the company recently refused an oifer oi
- no O0o for the property. This nxes the
lowest value Of the stock AT Sl-.V per snare
Ir + worth s. per share today ana IS DnS
at anrthiBg under that price We unhesl-
1stingiv recommend IL as high class invest
ment aud uFre immediate purchase Inc
dosing quotation WAS $l.35 bid ana none
offered Advance in price is certain.
We execute orders Tor the purchase and
sale of Government. Municipal. CORPORATION
and Railroad bonds and other high grade Sc
curitics in sll markets
LINCOLN MORTGAGE AND LOAN COMPANY
I4fh Floor 1876 Geary ~.