New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-24
U. s. Steamship

The I-nt.1 e, wv nat is your opinion about
I'm hoiding 500 shares In that stock Is
e. tne o tme government owes the company
ssLIo'ooooo0' as there was a charge against
me president a while ago for alleged vio-
iatlon or the shipping laws? I considered
AUS as bluff to make tho shareholders
discouraged. Do you think I am right :?
IS 1t fact that the United States steam
snip company ana the United States
, naamsport company formed new com
What time is their annual meeting? Ia
ihere any prospect OF dividend this fall :?
a Mouid you advise to sell? Do you know
pany? What time Is their annual meet
Ing? Is there any dividend In sight on
that stock &c. N
Answer~There is still considerable
discussion between The government and
the United States Steamship Company.
We do not understand that the govern
ment owes the company $4,000, 900.
There were certain payments due the
company, which we understand have
been nearly completed. The Federal
grand jury returned indictments
against c. w. Morse, president of the
company, and against the COMPANY il.
self. The specific charge was conspiracy.
! Inc government stated that Morse, in
violation of the law, had sold shin.
owned and registered here, 10 u foreign
government without permission of the
United States Shipping Board. The in
dlctment has been dismissed. The plan
is now to merge the company together
with the United States TRANSPORT Com
pany into the United States Ship Cor
poratlon on basis of four shares of
the latter TOR five shares Of either of the
former. The annual meeting of the
company is scheduled for December We
regard the stock as speculative, and as
the results of current operations are
not published we cannot express an
opinion as to dividends. Heyden Chem
lcal is a speculative issue also. There
is no published information regarding
thelr annual meeting. We do not look
for dividends in the near future.
Need Not Worry About Canadian Bonds
question: am middle-aged man hay-
ing a no business, trade or profession, de-
living. I have invested rather larreiv ~
canadian municipal bonds. I read youl
co!umn ior investors and notice that you
Ing foreign investments, owing to pcnti.
zeal or International complications Which
might arise What is your advice to me
Answer-The Tribune has no desire
to cause discontinue among holders of
foreign bonds. We believe that most
OF the issues which have been sold here
recently are sound because thew are
backed by the credit Of nations which
have managed very ably to meet their
obligations promptly for many genera
tions. Where an inquirer with 1000
or $4,000 to invest specifically states
that his money represents the savings
of many years, we endeavor to point
out that investments in most foreign
issues are not always advisable. In
vestors are attracted by the high yields
on foreign bonds. The fact that most
of these issues do yield an unusually
high return is evidence that there is a
certain amount of speculation about
them, on some, Of course, more than
others. When we speak of political
complications we do not mean neces-
sarily complications involving our
selves, but rather internal compiled
tions such as have taken place in Rus
STA and Mexico. In all probability the
danger Of such an event is most re-
mote in Canada, in our opinion. Can
ada's credit is of the best. 1t is a
growing country whose natural re-
sources have scarcely been touched
We see no cause for any alarm what
ever on your part, although we
should be careful to diversity our in
vestments.