New-York tribune., 1919-09-05

of the Harroun Motor Company as
good lnvestment?-W. A. w.
Answcr-No.
Qucstion-Would be very thankful
to you if you could give me some in
formation on the American Real Es-
tate Company, now in the hands Of re-
ce1vers. c have some Of their 6 per
cent gold bonds and have an offer to
sell them at a so per cent loss. Would
you advise holding them IS. C.
Answer-The American Real Estate
Company is now in process of liquida-
ton and according to representative
OF the bondhoIders' committee the
creditors are not likely to receive bet
ter than from 30 to 40 cents on the
dollar. 1t would seem, therefore, that
1t might be better for you to take your
loss.
,,.. .Qulestloon-Will you kindly give me
"hat information you can and your
opinion as to the investment possibil;
ties OF Penn Seaboard Steel, paying Sc
per year and selling in the neighbor-
mood OF $40 per share I'll. R. V.
Answer-In the first place you are in
error about Penn Seaboard paving
dividend of Sc year. 1t paws none
at present. interests identified with
the company state, however, that the
investment possibilities of the company
are good. 1t is stated that it is one of
The jew steel stocks with no bonds or
prc1erred stock ahead of it and that
'he book va uc of the stock is near the
current market quotation.
Question Several years ago bouoht
eleven $1,000 Toledo st. Louis & West
crn per cent bonds maturing in 1850.
naylnG for them about S5 ner cent
ihey are now quoted at from So to So
per cent. What is the consensus of
oplnlon IN New York respecting the
Iuturc value OF these bonds? Hope
deferred enfcebles the hearti-C. C.. A
Answer-Bond men tell us it might
be advisable for you to sell your
Glover Leaf" As and buy instead Min
neapolis & st. Louis 4s, selling about
io points lower. The latter company.
~ is stated has much better earnings
prospects and is in the oil belt, which
l"plcs speculative possibilities.
whether you think Associated Drv ,.
Goods Corporation first preferred 6
ment at, say, so? If you think So whv
should 1t be selling so low? +. L. M.
Answer-According to the last
annual report issued by the corpora
ton, the total income for 1915 was ST.
l99''5o' an increase of $435,549 over
the preceding year. After payment of
SS29'l22 in dividends on the first pre-
'erred stock and Si70,7S5 in second
tent to Sl.S2 a share on the common
stock was left. The figures for 1919
are not yet available, but. generally
speaking, department stores are far
more prosperous this year than last. A
great Improvement in the volume of
sales has taken place. Only S13,s1S,-
|00 of first preferred stock, which is
preferred as to assets as we'll as earn
'ngs. is outstanding. and the assets of
the corporation in 1918 exceeded S22.-
100000. In case Of liQuidation of the
corporation. the preferred stock is en-
t'tied to par and accrued dividends be-
lore anything goes to the common
stock holders
Since December :. 1917. the quarter.
ly dividend of - per cent has been
regularly paid on the preferred stock,
which IS cumulative. The corporation
was launched in May, 1916. and con-
M 1roiS James McCrecry & Co., Lord &
Taylor. Stewart & Co., !. n. Adam &
Co., llahne & Co., William Hengercr
Company, Stewart Dry Goods Company.
Surety Coupon Company. Adrico Real.
ty Company and the Power Mercantile
Company.
The first preferred, as we'll as the
second preferred and the common. is
listed on the New York Stock Ex-
change but according to specialists in
the stock. il is traded in more ex-
tcnsively over :hc counter than on thc
board. The market in the stock is