Evening journal., 1913-08-28
THURSDAY. AUG. %. 1913,
I0cAL MARkET FOR LOCAL sECuRITIEs.

LOCAL WAkkEI fOh IVtAL
TF anyone we're to proclaim TO the financial world
that the city of Wilmington or New Castle county
Is insolvent and that there is financial risk in hold
ing the securities Of either of them he would be hailed
at once senseess blatherskte or an irresponsi-
bic pessimis who ought 10 be suppressed All Della
wareans recognize the that both the city and the
county are solvent TO highly gratifying degree and
yet when buying the securities Of those two
political divisions commonwealth there is hest
fancy that is almost as senseless as would be open
proclamation OF Insolvency Men and women in our
state who have money invest show little hesancy
IN placing enterprises of which they know little
or nothing except what they have read in gilt
toring prospecuses had poured into their willing
ears by glibtonguod stock vendors but when
it comes investing that in local securities Of
acknowledged soundness they manifest shyness that
is as foolish as Il dangerous and discreditable II
thore had shyness in regard to local securi
ties and greater shyness in regard to outside secur
ties there would today fewer Delawareans bemoan-
Ing the losses they suffered in the international Lum-
her and Development Company, the Julian Hawthorne
mining enterprises. the Syndicate" Miller get-rich-
quick scheme the Or. Flower holes in the ground the
Old Terrible the Old Horrible and the Old Abomnabe
baits for wel-todo suckers and Of other such
things which, with absolutely nothing to recommend
them have taken many hundreds of thousands Of dol
lars out of our city county and state and landed It In
the pockets Of financial freebooterg IN other states
Company and the Farmers Bank ia this city
in naueuratnr movement TO stimulate and
sustain local confidence IN local securities Is
highly commendsble. There is why
Wilminstonians should finance Wilmington enter
prsee or why New Castle countans should not finance
our county enterprises. They have the money; they
know our city and county solvent and they also
know that the from such investments are as
large as those which accrue from tho securities of
other municipalities and counties similarly situated
With respect 10 finances The local trust company has
taken 100000 and half per cent county bonds
the proceeds OF which will be used for county
building and bridge purposes II proposes 10 sell them
to local investors at par with accrued interest It's
action will result in a saving Of from $4,000 TO 100000
to the taxpayers In county The bonds have been
issued in the denomination Of 81 900 II will require
only comparatively small number OF monied men
and to take them up. Those who wish to invest
their money safely and proAably will do well 20 call
up the trust company at once and place their orders.
BY SO doing they not only will conserve their own
interests but also show that the credit OF our own
county is SO good that local investors do not hesitate
10 place their money in its securities.
The Farmers Bank in this city also his demonstrated
enterprise and interest in the county and its people
by taking 100000 Of 1-2 per cent good roads bonds
and making effort to dispose OF all OF those
New Castle county securities TO local investors II,
like The Security Trust Safe Deposit Company. has
securities In fact IL will spend its own money to do
It. Il purposes selling the bonds at par, with accrued
interest and 10 for the people $1,000 to $4,000
by so doing In its earnest desire to make local
market for local securities, it has gone to the
commendable extreme making It possible for small
Investors to obtain $1,000 county bonds the INSTALL
ment plan. In fact person may have almost three
months in which to pay for such bond provided no
Individual payment of less than 500 be offered. In
short it has opened exceptional opportunity for
small investors TO obtain gilt-edge four and one
halt per cent bonds easy terms and without any
element of risk to them 10 the bank
Investors may accept it a fact that the securities
Of New Castle county good those of New York
City, which selling at premium. AS a matter OF
fact they better because county less debt
in proportion to assessed valuation than has New
City 1t should be borne in mind in this connec
tion that the Security Trust Deposit Company
and the Farmers Bank do not wish TO make even SC
much cent for themselves in this work they are
doing the county and its people Every dollar they
receive the bonds will be turned into the count,
treasury and of commission will be paid tC
them the missionary work they doing in bring
ing about demonstration of local confidence in loca
securities. As matter of fact they will lose none,
by floating the loans, but will feel well repaid IT, b,
their action. they be able to an active loca
market for local stocks and bonds admitted value
In short II viii be good advertisement for our count
and also for the company bank, and the taxpayer
will probably $25.oOO better OF as result of wha
the trust company and bank purpose doing
Everything initiates that the oyster season prhic
will open next week. will be good one. Let US hon