davidaulloa/AmericanStories huggingface dataset:
New Britain herald., 1920-01-16

involve danger to peace. I'll nant abrogatcs all obligations members inconsistent with it'd except such regional undersj as the Monroe Doctrine.
 Application of the mandatd tCnI to undevCloped nations former German colonies. etc.l of the important functions league.
New Britain herald., 1920-01-16
13 Others Invited.

which therefore remains outside the
New-York tribune., 1920-07-25
Short Seller Is Cured Now

Question---A few weeks ago sold pald :
win short at los and on June IA the broker
ptoned me that a stop loss order should
be placed. lie suggested 100 as a cover
watch the account. asked him to buy at
that figure. About ten days later 1 asked
what l had left and was informed that
had $40 This month, however, he teIls
me that l owe him Baldwin dividend
in the amount of $3.50. AS there was n
general rise in the stock mentioned with
out skyrocl<eting' 1t seems 10 mo that the
broker should have called me up and sold
at a price to protect him. depending upon
money in his possession only. He had
about two weeks in which TO figure this
transaction properly Ia there an ex-
change ruling covering this case? This
looks to me Hke piece OF carelessness
or pay him another cent If can help it.
Hereafter I'll invest in Liberty Bonds -
*. b. II.
Answer-Your stop loss order be-
came a market order as soon as Bald
win hit 120 and your broker was
obliged to cover you Immediately, no
matter what the next offer was. You
should not complain because your
broker, for his own protection, did not
close you out before your stop was
reached. For instance, if he had
adopted that course and bought YOU
in at 119 and the stock had never gone
to 120 but had reacted you would have
felt quite differently about it. 1t is
quite possible that you owe the divi-
dend. Find out for yourself, and if
you do owe it pay it and charge it up
to eXperience.
New-York tribune., 1920-07-25
Wants to Average Bonds Down

SQuestion-Many years ago an estate of
whlch | am heir purchased first lien gold
ponds, 1881, per cent, New York, Chicago
& st. Louis Railroad Company, at 109. /
cost therefore. s3,27o. While good bonds
OF railroads are low. l wish to purchase a
similar amount so that when they shall
increase in value | can sell out both lots
ana receive all the principal intact ii l
buy four of these bonds at their present
price, about 70. and hold them until they
reach SIS, can sell out the seven bonds at
a slight profit Do you think these bonds
are as good as any other for this pur-
pose? What other railroads bonds selling
at from 50 to 70 could be regarded safe
for my purpose? These bonds sold at SS q
early in 1920.--V. c. p.
Answer-The New York, Chicago &
st. Louis first per cent 1937s are we'll
secured, being first lien on 495 miles
from Buffalo to the Indiana-Illinois
state line. At 70 the yield to maturity
is over per cent. If the bond market
returns to condition approaching
normal this issue should show con-
siderable rise in price on account of
its nearness to maturity. The high
price for the bond in 1920 was 81 x, not
SSl2, and the low price was 67A
Other bonds which are we'll secured,
being first liens and Offering similar
features on account of the near ap-
proach to maturity, are Denver & Rio
Grande first A per cent 1865, price
about 63; Rio Grande Western first 4
per cents 1889 price about 63 Il, and
Colorado Southern first per cent
1929, price about 7812
New-York tribune., 1920-07-25
ouija's Wisdom Is Cheaper

Question-G) Do you consider informa-
tion OF the United Investors Service relia-
ole? They ask for subscription to their
service at the rate of sac for one month,
agreeing to give the name OF a stock
now selling under 5000 that ia worth 81 200
to .Sl,6oo, also the name OF stock of a
railroad around $40 now that will be
boosted up very soon to the price of
Atchison. (2) have on margin forty
shares International Nickel, purchased at
IS above present market. Would it be
advisable to sell this now and buy Cities
national Nickel pays no dividends. while
the yield on Cities Service at the present
market Is high Arc the prospects Of
market Increase as good with cities Serv-
national Nickel? (3) Do you consider
Engineers Petroleum good speculative
oil stock?-W. P. S.
Answer-W Ouija boards cost less
than $40. (2) If we had the wisdom of
all the prophets we could not tell you
how to recover the loss in your margin
account. Cities Service preferred is
earning its dividend requirements
about four times and is better in
vestment than International Nickel
but we do not know what the future
course of the market price will be
nor how that course will compare with
that of international Nickel 60 Yes
and No.
New-York tribune., 1920-07-25
Plenty of Better CANDLES

:, Qnestion--Pleas inform me what 1, tn.
Saasus SHs or Federal Adding Machine Cor
s'o. ~, @ ana the extent OF it's operations
or ITS stock.~Mrs. NJ. l., L. soA"o
= Answer-Federal Adding Machine
company informed the Tribune that it
had deficit of almost $4,000 and is
golng ggodG in the hole at the rate of about
Sao'oo0 month. 1t cost about s496.-
IVY to sell the stock in the company.
which has an authorized capitalization
OF $2,500,000 preferred and $500 900
common. The common is water. 1t
was either given away with preferred
on scale as high as two for one, or
exchanged for patents, good will, etc.
The balance sheet shows $2Se ,544 &C
counts receivable, 100000 of which
was advanced for the proposed estab-
lishment of British connection. We
would be inclined to question the Wis
dom of this expenditure when the com
pany has not yet succeeded in market
ing its product in this country 1t is
q doubtful asset, to say the least The
stock is not an investment. We do not
think you want to gamble with your
money; but if you do there are plenty
OF better CANDLES.
New-York tribune., 1920-07-25
Widow Cannot Afford to Lose

Question: am a widow we'll in years
and have recently bought the following
as to their safety, both to interest and
principal, and do you think that they are
good investments, as | am unable to lose
any money? One New York Dock first
tlop Company first mortgages due 1926.
(l)o you think they Will pay their pr!n-
cipal in 1926? In the event that they do
not. what could happen?) One block Of
ferred and one common; onoe Lake Erie
& Western Railroad first mortgage per
cent due 1881; one Rock Island, Arkansas
y Louisiana Railroad first mortgage. due
l954 AS nave a few more thousand
dollars coming due in August do you ad-
wise me to purchase any more New York
Dock or Lake Erie & Western Mrs. II. B
Answer-We regard New York Dock
bonds as. a good investment The
Brunswick Traction bonds are not
high grade, because street railway
companies have been having n rather
hard time of it. These bonds may
work out all right, however. The prin-
cipal is due too far in the future for
us to express an opinion regarding
their ultimate position. The Lake Erie
g. Western and the Rock Island bonds
are fair investments. 1t seems to us,
however. that you had better buy bonds
Of better security, even though you do
not receive so high rate. The Good
year preferred stock is good invest
ment, while the common is speculative.
Look over the list of long term bonds
mentioned almost daily in this column
and yielding from per cent to z per
cent. You should find suitable invest
ments among them.
New-York tribune., 1920-07-25
She Doesn't Want to Lose Sleep

Question: have heard Of the Denver &
cent. bonds, duo June /, 1928, yielding
as9nt Of % 5oS rhe prce Is q and
terest. Would this be safe Investment =?
The II per cent. sounds awfully good~-if
don't have to make up the difference
between that and the 8 per centers you
told mo of In sleeplessness.-Mls e. NJ
Answer-The Denver & Rio Grande
improvementmortgage per cent. IS
second lien OH the property in Colo
rado, about 1850 miles. Prior liens are
small and the road has been showing
good earning power even during gov
ernment operation. The probable rea-
son for the high yield on Denver Sc
curities is because there is Judgment
against the road on account of its
failure to make god a guaranty on the
old Western Pacific bonds. This Judg-
ment amounted to about $4,000, 900. of
whichabout S5,OoOo00 has been paid.
It must be understood, however, that
this Judgment comes after the liens on
theDenver property. If people realized
that more fully we believe all classes
of Denver securities would sell higher.
What the outcome will be we cannot
say. There will probably be COM
promise. For if the judgment is to be
satisfied the road would be placed for
sale, subject however to the liens on
the property. We regard Denver i'm
provement bonds sa very good specu-
lative investment. For investment pur-
poses, where caution is necessary, we
do not recommend it, although it is
our opinion that the bond is selling
below its real value.
New-York tribune., 1920-07-25
A Good Word for PHILADELPHIA

Question: am forced to inquire why
you, In recommending various securities.
never mention any of these on the list OF
the Philadelphia Company of Pittsburgh,
Pa. have been a creditor of that com
at different periods some of its stock or
bond issues and do not recall any delay in
payment of its dividends during the above
time. What is there on the market that
can show better fulfllment of dividend
promises? Surely there Is enough evil
cence OF the companys prosperity for the
present and future TO prove the safety and
relia blity of all its indebtedness.-M w. A.
Answer-Many public utility holding
companies have gone into the natural
gas and oil business because the man.
agements foresaw that there would be
trouble regarding rates on electric and
street railway properties. This fact
has, in our opinion, caused most of
such companies issues to become more
speculative in character. There are too
many political influences entering into
public utility properties, as has been
evidenced throughout the country dur
ing the last three years, SO that we do
orally speaking, are entitled to the
highest rating. When new financing is
done by such concerns they usually
have to pay higher rates for their
funds than do manufacturing and rail-
road corporations, for the reason that
the public has become somewhat slowe +
in purchasing their obligations. The
Philadelphia Company is perhaps af-
fected only sentimentally, yet the fact
remains that the obligations of this
company may be purchased to yield
over 10 per cent. This company has
considerable financing to accomplish
during 1922. We see no reason Why it
will not successfully accomplish it.
But the fact that it always has done so
does not mean that it always will
New-York tribune., 1920-07-25
Both Preferred Issues Good

Question-What is the security back of
American Telephone ana Telegraph colat-
sral per cent bonds due 1916? AS [
have purchased these bonds your rec
ommendation ! wish to keep posted on the
collateral. Considering the probable course
OF the two industries represented which
would you recommend as the better IN
vestment, a good preferred rubber stock.
such as United states Rubber, or good
equipment preferred stock such as Pressed
Steel Carl. N. X
Answer-American Telephone and
Telegraph per cent 1916 are secured
by deposit of stocks of affiliated and
subsidiary companies, having a market
value at all times Of 1873 1-3 per cent
of the par vlue of the outstanding
bonds. The original collateral was
New England Telephone and Telegraph,
New York Telephone, Southern Bell
Telephone, Southwestern Telegraph and
Telephone and Pacific Telephone and
Telegraph. We see very little to
choose between a well secured rubber
preferred stock and a we'll secured
equipment preferred stock. Both are
represented by essential industries.
New-York tribune., 1920-07-25
Reaction i'm Cotton
Prices ON Prospect
Of Better Weather
Firm Tone ON Recovery in
Foreign Exchange Fol-
lowed by Profit Taking
and Bearish Trade Reports

With July contracts out of the way
the cotton market yesterday devoted
itself to a reflection of crop and
weather conditions and the changing
news from abroad, with the result that
after some irregularity around the
opening, when prices were 10 points
points lower to 10 net higher, the
market developed firm tone on week
end covering, which advanced the ac-
tive list from II to 10 points above the
previous close
The early Polish news was distinctly
unfavorable, but the announcement
later of an armistice with a cessation
of fighting created a better feeling
here and was also noticeable in the
new buying resulted and the covering
movement continued throughout the
greater part of the forenoon and there
was little s gn of any aggressive
pressure until just before the close,
when early buyers started to take
profits on the idea that the weather
conditions over Sunday would be favor
able, and this produced a quick slump
in prices with the close easy, at IL
points net advance to Is points decline
Only few showers occurred in the
belt and the forecast was for generally
fair weather, which, it was assumed,
would reduce the spread of boil weevil.
A local house issued q condition figure
Of 1853, compared with GIL at the end
of June, would strengthen bearsh
contentious that the Forthcoming gov
ernment report would show a decided
Improvement over the July figure.
News from the cotton goods markets
was not at all favorable and the Fall
River sales were only 10000 pieces,
while curtailment amounted to 10000
pieces.
1t is not expected that there will be
much improvement in the cotton goods
market while the present drift of crop
reports is in an upward direction. A
North Carolina spinner expressed the
opinion that mills in his section were
not running more than 70 per cent
capacity and some bleacheries are said
to be running less than 40 per cent
capacity.
Reports from San Antonio said the
continued hot, dry weather in that sec
tion was bringing heavy fruit on the
cotton plants, encouraging prospects
for the heaviest crop yields in many
seasons, while in some sections a bale
of cotton to the acre seems assured.
One trade authority said that hardly
20 per cent of the production of the
cotton mills in the last six months has
as yet passed beyond the jobbers and
that retailers have yet to take in many
of the highest priced goods they have
purchased at any time, which must be
passed on to consumers at lower
price.
The local market for spot cotton was
quiet and ITS points lower, at 42c, for
middling. No sales were reported.
The range OF prices follows:
New-York tribune., 1920-07-25
Monthly Earnings
an Securities Corn. subsidia,;,


SILK manufacturers who have their
headquarters in this city are not per-
turbed by the strike vote taken bv a
number Of workers in the silk mills in
the Paterson district. The STRIKE
which will be called tomorrow morn,
ing, Is expected TO affect only a few
MUS. IN the main the manufacturers
are Watching the general aspect of the
iaoor situation. In view of the present
three months strike would do i;..,@
harm to the industry and might be,n
py curtaiiing production to a no;rt
ina. wili mean an absolute shortage of
New-York tribune., 1920-07-25
Urged to Tnvest" Further

Question: ask your advice about a
stock which / hold. The salesman is try
ing to induce me to buy more. The stock
is the Central OH Shale Refining Company.
The salesman claims II Is incorporated un-
der the blue sky law of Illinois. although
the stock certificate reads Incorporated
under the laws OF the state of Arizona. :"
Is this a bona hde working company and
would you advise further investing ?--S. G.
Answer--Shares of the kind you men
tion are not, in our opinion, invest
ments. They are speculative, and in
this case highly so. 1t is always bet
ter not to put all your eggs in one
basket. We suggest that you buy some
os the investment stocks and bonds
often mentioned in the investment in
formation column. Do not let the
promise of large earnings blind you to
the wisdom of holding your principal
safe The fact that a stock is passed
by q blue sky commission does not
necessarily mean it is good invest
ment.
New-York tribune., 1920-07-25
Wheat Sells Lower
In Primary Market;
Steady at Seaboard
Slow Deliveries Resulting
From Traffic Difficulties
Keep Port Prices Up;
Better Tone Is Expected

There was comparatively little change
in the wheat situation yesterday, but
prices were lower under weekend
liquidation, closing with net losses of
8 to 3hc
The trade felt rather more reassured
over the rust situation by reports by
leading experts, and consequently there
was a disposition to limit purchases.
Export orders were again of small
volume and largely in the form Of clos
Ing up old contracts. Sterling ex-
change was firmer, however, and It was
thought entirely probable that foreign
buyers would again be in the market
IN the coming week. The British have
now been out for week, and it is one
OF the features of the British buying
policy that they take large quantities
and an often accept practically all the
wheat 9 that is offered overnight.
The movement was moderate at
Western points. and last week in
creased only 1,25o,OOO, with the total
Tar behind last year. Country offers
were limited, and this gave the sea-
board market a steady tone. despite
the fact that prices in the Northwes st
were easier, and according to private
adyices showed losses of to 10 cents.
Transportation conditions form one
of the principal features in the whole
situation. and the market is expected
to be governed by the volume of the
movement, although many think that
1Soreign buyers have to large extent
the control of the situation as prices
move up or down according to the
volume of foreign orders.
In the local cash market No. 2 red
and hard wheat were quoted at S295
C. j. f. New York. '0
New-York tribune., 1920-07-25
Stock In a Modern Argonaut

Question-Could you please give me some
information regarding the investing of
money in the Argonaut Salvage Corpora
which Simon Lake. Of Bridge port. is
president, and who are Interested in the
recovery Of salvage from sunken vessels
using what is called salvaging submarine
invented by Simon Lake C. l.. f.
Answer-To make the sea give up it's
treasure has been the dream of ages,
and many Argonauts have gone forth
in quest of sunken gold. Some have
found it. But Neptune seems to watch
his Golfers even more closely than some
investors, and the honors lie with him
Perhaps your company has solved the
ancient riddle, but we should say the
venture was highly speculative rather
than an investment
New-York tribune., 1920-07-25
M;xes Oil With His Bonds

Question: own International Agri-
cultural per cent 1892; United Kingdom
* per cent 1887; st. Paul. Kansas City
short line 4ls per cent ls4i United
Fruit Express per cent 1925; Fisk Rub
Der Real Estate per cent 1884: first
mortgage Strauss issue Cities Service pre-
ferred per cent; Cities Service common;
Alto Gasoline & Oil OF Texas common.
Do you consider Cities Service preferred a
good purchase and is 1t the senior debt
Of the company? Arc there any other
obligations ahead OF the preferred stock ?
Would you advise buying the bonds OF
short line railroads.&c. r.
Answer---Most of your issues are
good investments. The Cities Service
common stock and the Alto Gasoline
are speculative. Cities Service pre-
ferred is entitled to a fair rating.
The company is largely engaged in
the production of petroleum, however.
There are several obligations prior to
this stock. The railroad situation is
so uncertain that short line railroad
bonds are more-or less speculative.
New-York tribune., 1920-07-25
Woman Favors Swiss Bonds

Question--Do you consider the Swiss 8
per cent 20-year bonds a good safe in
vestment for a woman VINO wants to in
vest for income, not speculation Miss
j. NJ. q.
Answer-The credit of Switzerland
has always been good. In purchasing
foreign bonds you should realize the
chances of possible political complica-
tions. Your investment is long way
off, and it is difficult perhaps to keep
in touch with affairs. Would you not
be better satisfied to purchase some
mean to imply that Swiss bonds are
not safe. They probably are safe. We
only point out these facts in order that
you may know in what class of security
you are investing
New-York tribune., 1920-07-25
Good Short Term Issues

Question: wish to invest $4,000 in
short term securities. Kindly name five
or six such securities OF course ] want
the largest income possible with absolute
socurity.-F. j. G.
Answer-If you would invest your
funds wisely you should give the great
est consideration to the security behind
your investments, and not lay too much
stress upon the yield. Purchase only
those issues which have a good market
and where the earnings are many times
the interest charges on the security
in question. The following short term
issues are in this class and we believe
them to be the kind for your purpose:
American Tobacco Company 7 per cent
notes, due 1921, 1922 and 1923, to yield
7 per cent; Bethlehem Steel Corpora
ton T per cent notes, due 1922 and
1928, to yield 7.75 per cent and 7.95 per
cent; Canadian Pacific Railway 6 per
cent certificates, due 1924, to yield 7.75
per cent; Proctor & Gamble Company
Z per cent notes, due 1921, 1922 and
1928, to yield 7 per cent, and Western
Electric Company Z per cent, due 1925,
to Weld 7.45 per cent.
New-York tribune., 1920-07-25
Sees Chance of a Lifetime

Question: am advised that during the
next ten days there is chance Of life
time for buying bonds. DO you consider
this true. or is there a chance OF bonds
going somewhat lower between now and
January l? have 5000 to invest, prac-
tically all the cash l have. How would
you advise splitting this amount under
local brokers to buy $4,000 worth of
Detroit Edison per cent series j. quot cd
at $50; $4,000 worth Of Armour & Co.
ten years, per cent convertible. whic h
Will yield 7S This is quoted TO mo at
S95. Alabama & Great Southern Rail-
road stock, Z per cent, figured to yield
1.5l per cent; this is quoted at S46.5 80
per share. What is your opinion OF this
advice? Have you anything that you con-
slider safer or better investment? --
II. j. NJ.
Answer The bond market, while
higher than a few weeks ago. is never
the less at level which appears most
attractive for the investor, for high
grade securities may be purchased to
yield from 6 per cent to over per
cent. We do not look for any sus-
tanned rise in the price of bonds until
money conditions are more settled.
However, it is our opinion that you
will not be acting unwisely to buy at
present levels. The securities you men
ton are all fairly good investments,
but they are not of the highest grade.
If you insist upon such a yield per-
haps they are as good as any others
we might mention.
New-York tribune., 1920-07-25
Switch Might Be Wise

Question: zoo shares st. Paul
common. costing about 81. l do not need
the income but would like to recover my
loss: have been advised to switch to 81.
Louis & San Francisco adjustment 6s and
income 6s- Would stand a better chance
10 recoup than by standing patti. +. w
Answer-We do not attempt to ad-
wise upon speculation. In order to re-
cover your loss you must, of necessity
purchase speculative security. At the
present time St. Louis & San Francisco
- doing better than St. Paul. For how
long time this will be we cannot at
tempt to say. Under present condi-
tions the suggested change would ap-
pear to he~a Wige one.
New-York tribune., 1920-07-25
New York Realty Owners

Question--As executriX Of an estate ] am
in possession OF several thousand dollars
worth of registered gold bonds OF the New
York Realty Owners. 81 company incorpor-
ated in New York This company sup
posed to hold real estate In the Bronx and
Avenue. New York City Would you kindly
advise if these bonds holding against
the property. and IL they are of any value
pect that they will be Is there any re-
dress &c be had Mrs r. a. O.
Answer--We understand the affairs
of the New York Realty Owners, now
in receivership, are in the hands of
Job +. Hedges, receiver i65 Broad
way, New York. If you will write him
he will give you all information.