New-York tribune., 1919-10-18

Question Kindly explain to me d;f.
ference between Brooklyn Rsn;a
Transit and Brooklyn RAPID Trans.
oertiilcates and reason for different
Answer-Brooklyn Rapid Trans;.
certificates represent stock deposited
with committee acting for stockholders
Ii holder of stock deposited his cor.
tificate he received receipt in for,,
of a certificate, which certificates ~.
listed on New York Stock Exchanrs
They are transferable. Difference no.
tween Brooklyn Rapid Transit and The
Brooklyn Rapid Transit certificates il
this: Holder of former is free, he does
not have to accept any plan. while
holder of latter is entirely in hands
of stockholders committee, and in ali
probability may have to pay sometime
for their services. This service ma,
however, prove to be we'll worth n
charge.
Question-Kindly give information
solidated, Cuba Cane common. New
York Dock Company common. Would
you consider any of them ut present
prices safe investment? A. X. NJ
Answer-Sinclair Consolidated said
III
history. Have no recent figures of
operations on which you could base
conclusions. Stock has recently been
increased and stockholders NAV sub
scribe to 80 per cent of holdings at 60
Company pays no dividends. so NAV be
considered speculation. Cuba Cane
Sugar appears to have been through it's
bad period and outlook is brighter. II
is speculation. New York Dock Com.
pany owns two and quarter miles Of
valuable dockage along East River.
Are Informed that when certain leases
expired they were renewed at much
higher figures. This does not vet show
in current earnings, which run about
same as last year. Are also informed
that company has spent considerable
sums recently, which have to come out
of earnings. Common stock paid divi-
dend of 2I2 per cent. presumably an
annual one. After preferred receives
per cent and common ) per cent
both issues share alike. Company
seems to be in far better shape than
heretofore, but stock is speculation.
Question--Please give Information
in re Advance Rumely, both common
and preferred, also Colorado Southern
common, and outlook for dividends on
Baltimore & Ohio and ST. Paul com
mon.-E. o.
Answer-Advance Rumely Company,
manufacturers of farming implements,
succeeded to business of W. Rumely
Company, January l, 1916. after drastic
reorganization. Company is now re-
ported to be doing largest business in
its history. Outstanding S12.5O0,OOO
preferred 8 per cent cumulative after
January l, 19l9s and $l3.750 600 COM
mon stock. Preferred made its initial
payment of 112 per cent April !. 1919.
With outlook brighter than for some
time past, company should be able TO
maintain dividend on preferred, but
common is still speculation. Colorado
d Southern, of which there is 50 900 900
common stock (S23, ,657 900 owned by
the C., b. & @. Railroad), showed for
the year 1918 4.l0 per cent based on
guaranteed income and 1855 per cent
based on actual income Net operating
income is falling behind last years
figures. Everything depends upon what
Congress will do for railroads. At
present neither B. 4 O. nor ST. Paul
is earning recent dividends on common.
A substantial per cent increase in
freight rates would change situation
materially.
Question-Can you give me any in
formation or advice on Gum Cove OIL
and Refining? | understand that this
stock Is on a II per cent dividend
basis and that the earnings arc around
AZ per cent net on the total s coo 600
capitalization. But 1t Is quoted as
low as S100 A. Y
Answcr-The Gum Cove Oil and Re-
fining Company has an authorized
capital of 100000 and there is out
standing 100000. The par was re-
duced from S1o0 10 $40 share. We
are Informed that the current earn
ings are at the rate of about s250,000
year, equal to SO per cent on the
outstanding stock, or Is per cent on
the authorized stock. Dividends are
being paid at the rate of IL per cent.
Present production is said to run be-
tween 10000 and $4,000 barrels month
ly, the oil being high grade, of about
SO gravity. Present production is from
four wells, and two drills are now in
operation. The return of 12 per cent
on producing oil company is not too
high.