New-York tribune., 1919-10-17

QuesUioh -h helerTNE TO your answer
in re lntefborough Rapid Transit 5s
Note you say, the bonds are II first
lien subject to the city's interest in
the property" ] was under the I'M
preston that the bonds were unquaI-
ihedly first lien without regard to any
interest OF ins city, or any other in
terest. May | trouble you to outline
what the amount OF The city's interest
is?-W. W. c.
Answer lnterborough Rapid Transit
refunding ) per cent bonds are secured
by Il first lien on leasehoid interest Of
the company IL. Broadway and Len0x
Avenue subways and Brooklyn subways,
which leases extend beyond 1879 and
1860, respectively, and in 999-year lease
of Manhattan Railway. Are further
secured BY first lien on contracts with
city providing for operation of 1T
miles Of additional subway track and
II miles of elevated track. Further
secured by first lien on all power
houses and equipment used in opera
ton of subway. bat subject TO lien OF
the city TO assure performance OF
terms Of lease. Under contract COM
pany is entitled TO receive an amount
estimated at S1i,700,000, after which
city will receive s.76 per cent On money
(S66.000,000) which ii will invest in
subways. After this both share equally,
Question-For some time have been
holding fifty shares each of the follow
ing stocks: Advance Rumeley, CASTOR,
Williams & Wigmore and Ohio Cities
Gas. Would greatly appreciate it if
you would give me such information as
you nave on the above; also adVis
ability of selling now or holding until
same reach what they cost me f. A. d
AnsN er-A dvance- Rumeley Company
Ia, shown considerable imprOY ernent
In earnings Of late. We ere informed.
Sales of company for first FIVE months
of 1878 were reported a, SS,500. .000,
against Sl,500,G00 for same period in
l9ls. and more than entire sales for
year 1918. There ~ q large demand for
agricultural machinery at present from
all over world. Nuch depends upoR
course Of foreign trade in future, 50
TAR as CASTOR, Williams K W.gmore is
concerned. This company, which re-
duced its dividend rate irom 81 per
annum TO 81 recently, j. now said 80
be showing larger earnings. Company
operates eighteen ships, from one o3
which it is said to have earned SID
900 in single month. Company lost
money during the war on it, Russian
contracts. but this amount Is supposed
to have been written off. Ohio Cities
Gas par value Of which is S25, is ez-
panding largely and affairs of the com
pany appear to be in good shape In
uicated earnings on common stock for
year ending March 81, 1919 were at
rate of 24.60 per cent, against 30.31 per
cent 10 l6 per cent, or 81 per annum.
duced dividend last April from 20 per
cent to Is 6per cent on 81 per annum.
But we cannot guide YOU so far as
course of stock market is concerned.
All three issues are speculative. and
while earnings might show better than
heretofore SO many Influences are
brought to bear that no one can sav
positively whether or not stock had
seen its highest level.
Question have heard that the
earnings Of William Farrell & Son
now or tho curb amount to SiS5.0l0
honth VIII you favor a reader with
your opinion of this common stock. .ts
possible future and worth and truth Of
statement or net earnings am con
n he ,,frvf -ea4 ,,fs4a ;. e,