davidaulloa/AmericanStories huggingface dataset:
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1919-11-08

Under normal conditions Italy an
nually converts 1860 tons of orange
blossoms and 1000 tons of roses into
perfumes.
New-York tribune., 1919-12-14
Marland Refining Company

Question-Will you kindly give me
what information you have as to stock
of the Marland Refining Company list
ed on the Pittsburgh Exchange .
T. j. T.
Answer-The Marland Refining Com
pany was incorporated on December 9,
1916, in Oklahoma. 1t owns a wooden
refinery at Pasca City, Okla, with a
daily capacity of $500 barrels, and two
casinghead plants with a daily capacity
of 10000 gallons of blended gasoline.
Leases cover about $1,000 acres. II
refines it's own crude petroleum into
finished products and owns $40 tank
cars. Stock outstanding, $5,G9S.235; par
value. SIS. The company has made
great progress in production. In July
it was 198,809 barrels, an increase Of
$3.50 over June. Current earnings are
said to be at the rate of $4,000, 900 an
nnally. During the first six months
of this year the company completed
forty -one wells, thirty seven producing,
and four dry. Dividends are at the rate
OF 10 per cent per annum.
New-York tribune., 1919-12-14

Cause for Disbursement

Question: am the holder of 25
shares of Great Northern preferred
and an so shares Chicago, Milwaukee &,
St. Paul preferred, both of which
purchased for investment some years
ago at much higher prices than they
are selling for at present. The Chi
cago, Milwaukee & St. Paul has not
paid a dividend since September, 1917,
and the Great Northern is continually
moving downward. l am undecided
whether to sell and invest in bonds or
hold fast. What is your opinion of the
above mentioned stocks &C. C. S.
Answer-You have held on so long
it would seem expedient to await the
return of the railroads to private op-
Grafton. The position of the Chicago
Milwaukee 4 st. Paul is not in our
opinion wholly due to Federal control.
but If the right kind of legislation is
enacted, which we believe will be the
case, the railroads of this country OUGHT
to make better showing from view
point of stockholders than they have in
the past. 1t doesn't seem that they could
do much worse.
New-York tribune., 1919-12-14
Not Strictly an Investment

Question-Is American Telephone and
Telegraph in the investment class or
a speculation? Is Cosden & Co. good
buy as an investment? The return is
large when the stock dividend is con-
sidered. What reliable Stock Exchange
and Curb houses sell stocks on the par
tial payment plan? Has broker the
right to charge 3 per cent for carry
ing charges in excess Of the per cent
on unpaid balances &C. U.
Answer-We should say that Ameri-
can Telephone and Telegraph stock is
not an investment in the strict sense.
We would class it as speculative in
vestment. Cosden & Co. stock is spec
ulative. So much uncertainty sur
rounds stocks of oil companies they
are necessarily speculative, and the
yield should be large to compensate for
the risk. Chisholm & Chapman, men,
bers of the New York Stock Exchange,
sell stock on the partial payment plan.
Unless the broker agreed to charge a
certain percentage on debit balances
and nothing more he has a right to a
carrying charge if he cares to make
one. Hayden, Stone & Co. are reliable
brokers.
New-York tribune., 1919-12-14
Transfer of Stocks

Question: bought 200 shares of
stock. The shares are made out in an
ether name. | asked why not in my
name. They replied it did not matter
as long as l held the shares. l am a
newcomer in this line and what l would
ask is this: Is it 0 X and would |
have any trouble if l desired to sell .
A. L. d.
Answer-When you bought your
stock and paid for it outright, your
brokers, if the matter was handled on
a commission basis, should transfer the
shares to your name, using the transfer
stamps which were used on the bill of
sale to them. If the stock is a nom
dividend payer it really makes no great
difference, but If 1t pays dividends
You will have difficulty in collecting
the dividends due you. If the stock is
signed by the person or persons to
whom it is made out, and guaranteed
by New York Stock Exchange firm
you will have no difficulty in selling
it on that account. The minimum
charges on the Stock Exchange are
$3.50 hundred shares for stock selling
between $40 and S125 a share and $40 a
hundred shares for stock selling above
Sl25 a share. Odd lots in proportion.
New-York tribune., 1919-12-14
Two Railroad Stocks

Question-Would you advise buying
Delaware & Hudson Railroad and
southern Pacific at the present time (:
II possible, would like to know what
their earnings are at present.-R. C.
Answer-The railroads appear to be
discounting the unfavorable situation
and If Congress enacts favorable leeis.
iation all roads will benefit. Delaware
& Hudson offers an opportunity for q
large yield. Southern Pacific sells con.
siderably out of line with other rails
especially since the announcement was
made last week that the government
did not intend to press the appeal of
the suit against the company involving
title to 10000 acres of oil lands in
California. For nine months ended
September 80, 1919, the net after
rentals for Delaware & Hudson was
$1,754,69S,, against $3.02S,996 for the
like period in 1918. The net operating
income of the Southern Pacific Com.
pany for nine months was $26,304,457
against $36,890,671 in 1918.
New-York tribune., 1919-12-14
New York State Railways

Ques estion-Will you please give me
what information you can in reference
to New York State Railway bonds,
and would you advise purchasing at
present price to average down on pre-
vious purchases made at much higher
prices? AS | understand it, there is
preferred and common stock Is the
stock any protection to the bonds-
l.. H. NJ.
Answer-New York State Railways
showed net income of $67,456 for the
quarter ended June 80, 1919, against a
deficit of S14,S03 for the corresponding
period last year. This was at the
annual rate of GIG per cent on the
3.S62,500 preferred and 23 per cent
on the S19,952, 400 common stock. If
that increase can be maintained the
bonds would appear to be attractive
at present prices. The stock is of no
protection to the bonds. Bonds come
ahead of stock always. The New York
Central Railway owns $l3,604,3 800 of
the common stock of the New York
State Railways.
New-York tribune., 1919-12-14
Not the Real Reason

Question-Would it not be we'll for
the benefit Of timid investors to explain
through your financial columns to hold
ers of Interborough Rapid Transit re-
funding 5 per cent bonds and other
bonds which have deprecated greatly
in the last year the conditions induc-
ing the present very heavy sales? The
large profits made during the current
year in stock transactions make 1t ad-
vantageous to show losses to offset the
amount of income tax to be paid. Those
of the public not familiar with present
day methods take it for granted that
sales Of these bonds represent liquida-
tion by large holders. A careful inves-
tigation will show that such is not tho
case, that most Of these bonds sold are
Immediately bought back by the orig
inal holders. The effect of these sales
is much the same as "wash sales" in
stock, except that it forces the price
down instead of upward, as it induces
in the belief that heavy liquidation is
taking place. 1t is doubtful if any hold
ers Of these bonds familiar with fnan-
cial affairs are parting permanently
with them at present prices; on the
contrary, they are quietly Buying for
the rise which will occur when selling
to show loss ceases, as it must at the
end of the year-W. P.
Answcr-We do not agree with your
explanation regarding the depressed
price of Interborough Rapid Transit
refunding per cent bonds. Undoubt-
edly it is the case in many securities,
but the real reason for the depression
in Interborough Rapid Transit 5s, in
our opinion, is the statement of the
company's officials that the INTERIOR
ough is not earning its fixed charges.
Unless relief is afforded the company
we cannot see how the present state Of
affairs can continue. Certainly the fact
that Manhattan Elevated stock has de-
clined so much as it has is not due to
the registering of losses. That may en-
ter into it, but the real reason, as we
see it, is the actual condition of the
company.
New-York tribune., 1919-12-14
Fearful for His Bond

Question: have a $1,000 bond of
United Light and Railways Company
(first 5s, of 1922. l paid SS1a for it
last May. 1t has declined to 78 bid.
Do you think there is any cause for
concern? What is your opinion of this
company?-T. A. B.
Answer-You are fortunate that the
bonds ar% down only 10 points. Others
have Jared far worse than that. The
decline is owing largely to the high
price of money and the selling of pub
f1uenced by the unfortunate state of
affairs in which several public service
corporations find themselves. This bond
appears all right
New-York tribune., 1919-12-14
Western Pacific Preferred

Question-Do you consider Western
Pacific preferred a safe investment
notice it is quoted only occasionally
at 55 and 56 and understand it pays
6 per cent year dividends, making it
better than 10 per cent investment.
On this basis it would seem to be sell
ing too low, compared with the other
rails, most of which do not yield over
per cent on current prices. l have
been wondering whether there was
some other factor besides the govern
ment control which is keeping the
price down.-W. L. E.
Answer-Western Pacific preferred
while per cent stock, has paid but
z per cent thus far this year. 1t paid
6 per cent in 1913 1t is not a safe in
vestment, but, like most other second
and third rate roads, a speculation with
possibilities.
New-York tribune., 1919-12-14
Spencer Petroleum

Question-Any information regard
ing the safety and future possibilities
of Spencer Petroleum listed on the
curb market will be greatly appreci-
ated. Do you recommend this stock
at the present price ?-N. D. X.
Answer-It was stated recently that
J. f. Spencer and associates had incor-
porated the company with q capital of
$5,0o0,0O0. The company has taken
over the oil leases and producing hold
ings of Spencer Brothers. There are
$4,000 acres in different oil fields in
Texas. Some production has been de-
veloped. Construction of a pipe line
and storage tanks will shortly begin.
The concern is more or less a prospect.
1t is q speculation.
New-York tribune., 1919-12-14
Want Preferred Stocks

Question-Will you kindly let me
have the names of two or three sound
preferred stocks, yielding about Z per
cent, that you would recommend for
purchase? Also the name Of a good
brokerage house through which l might
buy the stocks on the partial payment
plan? When buying on time, does the
dividend start from the time of pur-
chase or when shares of stock are fully
paid up?-J. R. c.
Answer-Around present quotations
Central Leather Corporation preferred
yields about $50 per cent; Virginia
Carolina Chemical preferred per cent,
and United States Rubber first pre-
ferred per cent. In buying stocks
on the partial payment plan you
receive any dividend declared after
purchase, but must pay the broker in
terest on the balance due on stocks
purchased for your account. Consult
any New York Stock Exchange firm ad-
vertising in The Tribune.
New-York tribune., 1919-12-14
Brooklyn Union Gas

Question: have some Brooklyn
Union Gas common; I understand it is
in good position, yet it has gone
down thirty points within short time.
What do you knox about it; is the
dividend apparently sure w. G.
Answer-Brooklyn Union Gas Com
pany has undoubtedly been affected by
the growing uncertainty regarding
public utility corporations in general.
The company appears to be doing very
we'll.
New-York tribune., 1919-12-14
Stanton Oil

Question-Will you please let me
have some information on Stanton Oil
and if at present the company is in
good condition? AS | have bought a few
hundred shares lately and I see it has
the reason for the decline IS. C.
Answer-We know of no particular
reason for the decline in Stanton Oil
other than that nearly everything in
the securities market has declined re-
Gently. The stock is speculative, as are
most all oil stocks.
New-York tribune., 1919-12-14
Fulton Motor Truck Company

Question Kindly give me some in
formation of the Fulton Motor Truck
Company, of Farmingdale, Long Island.
I have heard several reports concern
ing this company. Do you consider
this stock a gamble? | have number
of shares of this company; would you
hold or sell F.. A. w.
Answer-The Fulton Motor Truck
Company went into receivership early
in November. The receiver stated that
the company had contracts for 1883
motor trucks with selling value of
$1,7S1.535 and that it's liabilities were
$250,000. He stated also that the COM
pany was without funds to meet obli-
cations which have matured. The COM
pany may work out of it's troubles.
New-York tribune., 1919-12-14
American Express Holdings Valuable

Question-Kindly advise me if the
State Line Telephone first mortgage 5
per cent bonds have any merit. They
defaulted on their interest several
years ago. | am the owner Of five
81 900 bonds. Would you advise the
purchase of American Express as an
?-R. Z. L.
Answer--Therc is no market at pres
ent for State Line Telephone 5 per
cent bonds. American Express is in a
position, SO far as express business
goes, similar to that Of the railroads.
She government has not stated it's in
tention in regard to the express COM
panies. American Express owns valu-
able securities and real estate and it's
income frcm letters of credit, ETC., is
good. The stock appears to be fair
speculative Investment.
New-York tribune., 1919-12-14


the bond you now hold will be ex-
changeable for a new one carrying the
coupons up to January l 1881.
Combustion Engineering Corporation
Question-Kindly give all informa-
tion available on Combustion Engineer
ing Corporation stock What is your
opinion Of this stock? Is it highly
speculative? What is the highest rate
it has been sold for? What is the
lowest rate it has been sold for, es-
pecially the rates around the latter
part of October? Where it can be
bought and who are the selling agents.
M. K.
Answer-The stock of the Combus-
ton Engineering Corporation, which
was organized in March, 1914, is close
ly held. The last sale, recorded about
three months ago, was at SIS share.
600 shares are outstanding. The re-
mainder of original issue of 5O,O50 of
7 per cent preferred stock was re-
deemed last July. The company had
been paying $1.50 a share quarterly
on its common stock, and the income
for 1918 showed a surplus for the
year, after interest, dividends and
taxes, of s4s9,oS4. Net earnings, $780,
001. 1t is estimated that the surplus
this year will be larger than it was
last. The stock may be regarded as
speculative until the company has dem
onstrated its ability to pay dividends
over a longer period, but it has, we
believe, well-managed business or
ganization behind It, Consult any
firm advertising in The Tribune about
buying the stock.
New-York tribune., 1919-12-14
B. r. T. Notes

Question-Will you kindly give me
your judgment concerning the prob
ability of the Brooklyn Rapid Transit
paying it's Z per cent 1921 notes and
what is the worth of the certificates of
deposit for above notes, and will they
be paid at maturity "A. j. T.
Observation-Disclosures of deposit rep
rcsenting Brooklyn Rapid Transit
Company per cent notes, due in 1921,
are selling around 50. Whether the re-
cciver for the company will have funds
enough at his command year hence
to pay off these notes remains to be
seen. If not, arrangements probably
will be made with the approval Of the
curity.
New-York tribune., 1919-12-14
Selling Methods Faulty

Question-Can you give me any in
formation concerning the Altex Petro-
leum Company j. A. w.
Answer-Altex Petroleum may be a
good proposition, but their methods of
selling the stock do not look we'll and
certainly would not induce an expert
enced investor to buy it,
New-York tribune., 1919-12-14
Mutual Finance CORPORATION

Question--Will you be kind enough to
tell me if you consider Mutual Finance
Corporation stock at par bought on the
installment plan a good investment Q
C. A. F.
Answer-Financing corporations of
this kind are usually highly specula-
tive PROPOSITIONS. We do not recon-
mend the stock of the Mutual Finance
Corporation as an investment. The
stock is not traded in on the New York
Stock Exchange.
New-York tribune., 1919-12-14
Galena SIGNAL Oil

Question: am writing to ask you
If you have any available information
in regard to the common stock of the
Galena Signal Oil Company. This
stock has paid no dividends for over
year past. bought the stock at
1924 and it is now quoted at 83. Is
there any particular reason for this,
other than their failure to pay divi-
Gends? Is the company as far as you
New-York tribune., 1919-12-14
Short Seller Takes Chances

Question-In operating on the long
side of the market it is possible some
times to prevent loss by buying the
stock outright after it has gone the
wrong way. How can an equivalent
be substituted for this when speculat-
ing on the other side? Or how can
the speculator protect himself after
he has sold stock short? 1t occurred
to me that possibly the ingenuity of
old traders had resulted in some
scheme Or method aside from puts and
calls to prevent loss while selling
short-F. A. K.
Answer-It can't be done. When
you sell something that doesn't belong
to you you are at the mercy of the
other fellow.
New-York tribune., 1919-12-14
In Receptive Mood

Question-Inclosed find two circu-
lars have recently received. The
propositions sound nice, but l would
rather take your advice. l am good
sport, and would risk $100 on any
good looking speculation if l were
reasonably certain of the men running
the proposition. | am rather hoping
you advise me to 60 to it, but of course
1t must be with assurances of the
honesty of the management. l am one
whom you've helped before.-D. l.. G.
Answer-We are sorry to disappoint
you, but cannot advise you to take the
chance, as both propositions are alto
gether too speculative to receive any
Endorsement from US.
New-York tribune., 1919-12-14
Holds Shattuck Arizona

Question: am holding stock of the
Shattuck Arizona Copper Company,
which l purchased around II. Please
inform me whether you consider it
advisable to hold Do you think it will
go any lower than 10? Please give me
an expression of your opinion of this
company and also Caddo OLE. D. M.
Answer-The Shattuck Arizona Cop
per Company has had much to
contend with this year both on
account of labor conditions and
the serious curtailment of oper-
ations, following the flooding of
the company's mine made necessary by
fire which broke out last February
For the quarter ended last September
the net income was $54,303, whereas in
the June quarter during which opera
tions were almost at a standstill there
was deficit of over $4,000. The work
of unwatering the mine began last
October, and with the supply of mine
labor showing an improvement officials
increase in the copper output during
the current quarter. Withal, the posi-.
tion of the stock is speculative and
we cannot advise you what to do. The
Caddo Oil md Refining Company is
conducting extensive operations in
Louisiana, where it owns or has under
lease about $4,000 acres of oil and gas
lands on which there are now
about eighty producing wells. Fol-
the quarter ended last March the com.
pany reported a surplus after taxes OF
$176,395. The capital stock authorized
and outstanding is $4,000, 900, par $100
No dividend has yet been paid. The
stock in our opinion is speculative.
New-York tribune., 1919-12-14
Shows Discrimination

Question: have about $4,000 to in
vest. l am workingwoman earning
fair salary, but cannot afford to
speculate. Have thought about buy
ing five shares each of the following
Atchison preferred, Baltimore & Ohio
preferred, United States Steel pre-
ferred, Standard Oil of New Jersey
preferred and French Cities per cent
bonds. Now, do you suggest some
other i'll place of any of them ?-J
G. B..
Answer-We think your list is good
except Baltimore & Ohio preferred
whose dividend may be In jeopardy
Substitute Norfolk & Western pre-
ferred for Baltimore & Ohio preferred,
New-York tribune., 1919-12-14
French Victory Bonds

Question-Recently 1 bought few
1,000-franc, per cent French Victory
Bonds, and upon receipt of same l
noted that the denomination is not
stated on these bonds, nor does it say
at what price the French government
will redeem same after January 1,
1881. Furthermore, these bonds have
coupons only up to August 16. 1924,
instead Of up to January, 1881. If
you will be kind enough to enlighten
me on these points and also advise
me in regard to any steps to be taken
to comply with the requirements of
the French government, will greatly
appreciate your courtesy.-O. T. c.
Answer-While it is not stated ON
the bond of the per cent French
Victory Loan at what price they are
redeemable, the French government
sold them on the basis that they are
"free of all present or future French
taxation; are redeemable at par at
the option Of the government, but not
before January l, 1884," The denomi-
nation is not stated on the bond but
is indicated by the amount Of income,
New-York tribune., 1919-12-14
Cuba Cane Sugar

Question: What do you think of
Cuba Cane Sugar preferred as an in
vestment? Do you think there is a
reasonable certainty of dividends p
F. B. NJ.
Answer-The position Of the Cuba
Cane Sugar Company has been i'm
proved by recent developments in the
sugar situation, which suggest in
creased earnings and a larger margin
of safety for dividends on the pre-
ferred stock. The latter, in our opin-
ion, may be classed as a fair invest
ment.
New-York tribune., 1919-12-14

In the exclusive residential scction NJ
PALlSADE. 11-room stucco residence: 5
masters bed rooms, baths. billiard room.
nnished rooms in attic. laundry. stucco
asking $4,000. Max Mayer, 4o5 Lexington
av., Manhattan.
New-York tribune., 1919-12-14
Not Badly Advised

Question: would, indeed, be glad
to have your opinion about an invest
ment was advised to make some time
ago. bought 1887 bond of the
United Kingdom of Great Britain and
Ireland. The money 1 have invested
means a whole lot to me, and l would
like to feel that the interest would be
paid when due, and no fear of my los
ing the principal. also have been ad-
vised to have the bond registered, so
that there would be no fear of my
losing it. The party who advised me
to buy this bond says I could not have
better security for the interest l get
on my money.-B. c.
Answer-Your investment should not,
in our opinion, give cause for any anx-
iety either as regards the payment Of
interest or the security Of the principal.
BY registering the bond you gain the
additional comfort of knowing that it
will not be lost or stolen. Altogether,
1t does not seem you have any cause
to regret following the advice given
you.
New-York tribune., 1919-12-14

Large house with of land and
has hfteen rooms rplaces and three Large
sun paror sleeping porches, electric lights modern
provements Hot water heat Newly and
Cement walks Garage and house. PRICE $4,000
terms be arranged
EDGAR c. BEEcROFT, Pelham Manor NJ Y
Tel Pelham 1717
New-York tribune., 1919-12-14
Spencer Petroleum

Question: was persuaded to buy
fifty shares Of Spencer Petroleum at
1914 each, but am in doubt as to the
company's financial standing and pros
poets. Will you kindly tell me whether
this is good investment at the price
bought? If not, would you please sug-
gest some other oil stock in order that
might sell the above-mentioned stock
and buy something better IN. D. X.
Answer-The Spencer Petroleum
Corporation holds 240 acres of land in
the Blackwell oil field of Oklahoma, 100
acres in Nowata County, Texas; 100
acres in Woodson County, Kansas. 1t
also has other holdings in fee scattered
over several counties in Texas and
Oklahoma. The company has issued no
statement of it's financial condition as
yet and has paid no dividends. Its au-
thorized capital consists of 100000
of preferred, par 500, and $4,00O,0o0
common stock, par $40. At present there
is 100000 of the former and S626,COO
of the latter outstanding. We consider
stock in this or any other company ex-
cIusively engaged in the production of
oil as speculation rather than an in
veStment.