davidaulloa/AmericanStories huggingface dataset:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-03-10

powers in Wall street, and then she
turned back to her own table. Tom
Benton noticed that she was distrait,
and knew that IL was Granville's pres
ence that had made her so. She toyed
idly with bit Of bread, and drew a
breath, when the three men finally rose
from the table. They stopped at
Laurels table for a moment and there
were brief introductions and some des 81
ultory remarks. Laurel was copscious
that Granville stood near her chair. She
could have put out her hand and
touched him, and she felt his eyes upon
her as he looked down, but there were
only the most impersonal things touched
upon in the conversation.
IL was the first time that Ted Ban
ming and Benton had met Laurel's hus-
band. After they were alone again and
Laurel was dipping into her iced
bouillon, Ted said eagerly:
Hes wonder, Laurel, I'm not
surprised, that he can manage things as
he does"
winona shifted. "He's only n man,
Teddy, and Laurel's husband"
Tom Benton was silent. He had liked
Granville Burton. The two men had
looked each other in the eye and the
response had been immediate. Tom
Benton always admired big men, men
who accomplished things in the world.
He had the newspaper instinct and he
was a splendid newspaper man, a dogged
type, a man who dreamed dreams, who
had illusions but said little about them.
Burton was all fire. all brilliance,
flash Of white teeth one moment as his
face broke up into a smile, and his gray
eyes like cold steel the next. He was
alert. almost wiry. Benton was heavier,
his entire makeup was slower but
much gentler. His brown eyes were
honest and fine. He was a mans man.
In minute he had understood
Laurels surrender to this man, her
sudden marriage. everything, and he |
laughed at himself for ever having hoped |
that he might some day have Laurel for |
his own.
Granville's appearance had somehow |
thrown a damper on the luncheon party, |
try as they would to act as if nothing |
had happened. The gay spirit of CANA
self somehow left out in the cold. The
other three drifted into newspaper FAR
gon and shop talk, and Laurel sat back
in her chair, exquisite, far removed
from the shabby girl who had inter-
viewed famous men for the Chronicle
at one time in her life.
They finished and left, and Laurel.
pleading a headache, was on her way to
Long Island at o'clock. She was not
happy any longer, even with her friends.
She had felt like an outsider today with
he old crowd, and although she had
made a certain place for herself among
he people who made up the Long Island
'rowd, they were not real friends. There
vas no one woman In whom she could
'onfide, not one.
Tomorrow - Several people have
strange thoughts.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-03-10

Tomorrow - Several people hav,
strange thoughts.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-03-10

ondeu yellow Here and there american and
Third floor
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-01
Profits Not Improperly Applied

Question: have been carrying $4,000
worth OF stocks on margin and recently
SOLD at a profit one of my stocks which [
was using as collateral for 81 900. have
now been told by my broker that that they
used that money to reduce my debit bal
nnce. They had not asked me for NOR.
collateral when they did this therefore nay
account did not require It, Did they ha We
the right to take the SO without first
asking me II | wished TO reduce my bal
ance? ] am amply able to put up more
cola teral. and therefore do not see why I
had TO lose the $1,000 I would greatly
appreciate your kindness if you would let
me know il my broker had the right to
take the money in the way he did. r.
Answer-The brokers acted quite
properly. They have not taken the
$4,000 but have credited your account
with that amount. When you sell at
profit and draw no money your margin
is increased, provided the remaining
shares do not decrease in market value
The $4,000 is yours, whether it is on
the books or in your pocket. If you
withdrew it the broker might have to
replace it with $4,000 Of his own, on
which the interest charge at present
would be high.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-01
Consolidated Cities Bonds

Queston-Would Consolidated CITY Ser
wee bonds be good Investment as if
- - first mortgage bond guaranteed by
uenry l.. Dohcrty Co. and has a yearly
yield OF approximately Is per cent .
|. l..
Answer - The Consolidated Cities
Light, Power and Traction per cent,
1852. are secured by stocks and bonds
OF subsidiary companies. The issue,
Slo,0O0.O0O, is guaranteed principal and
interest by the Cities Service Company.
The latest statement of earnings was
TOR the year ended December 81, 1917
when the total earnings accruing to
the securities pledged under the issue
was S947 1887. The interest charges
amounted to 100000 per annum. We
90 not regard the bond as high grade.
1t probably does not enjoy very good
market either. The guaranty of the
Cities Service Company has very likely
given IN better rating than though
1t were not guaranteed. We should rate
the bond as fair only.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-01
An Attractive New Haven Bond

Question-IIad chance to buy two New
York. New Haven & hartford bonds, pay
able In 1922 at 20. Party said that these
bonds were sold mostly in France. and at
present the rate of exchange viii be big
saving. As you see, the two bonds will
cost sl4oo. and at the and of two years
wise me to do?-J. E. S
Answer-The New York, New Haven
Hartford a per cents. due April l.,
1922, We're placed in Europe in 1907. A
short time ago these bonds, issued in
francs, were acquired and exchanged
for dollar bonds. There are $27, 582, sol
outstanding, and are direct obliga-
ton of the company The indenture
provides that if the company creates
any mortgage upon its main line be-
tween Woodlawn, N. Y, and Springfield,
Mass. or any new mortgage upon its
line between New Haven and Provi-
dence, or upon any part of said lines,
these bonds will be equally secured with
bonds issued under such new mort
cages. The bonds Of this issue are the
earliest maturing bonds carrying this
mortgage provision. We do not see
that you will benefit any by the low
price of French exchange, as the bonds
offered you are dollar bonds. We I'M
derstand the present quotations are
between 60 and s. 1t is best to check
up on the market before investment in
an unlisted security. We do not regard
the bond as high grade. If the New
Haven road shows much improvement
in earnings during the next two years,
these bonds will be in better position
of course. The credit of New Haven is
not good at present, but, with the mort
gage provision AS outlined above, the
bond appears to have attractions, for if
New Haven must resort to placing
mortgage upon certain parts of its
property this bond will be far better
secured. We believe this issue offers
rather attractive speculative invest
ment possibilities.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-01
Friend Wife Has the Dough Bag

Nucst 'on~-Having $1,000 and no cspcri
vnvr wn, ,a, in stocks. would appreciate
ing to secure to per cent: Tho stock.
o. ,"Y Y arc Tobacco Products preferred
Roth appeal from a speculat,vo a a,u"
NY wife dislikcs these and suvrests earn
IL ,o9uCts, American Ice and American Can
~ Union Carbide quoted at 66ls a
common or preferred stock? Would like
10 nny ten shares of Union Carbide. but
must have convincing argument ava
'''e"u WHO mas the dough bag-W. r. NJ.
answer - We are not sure whether
you wish to salt away your ST 900 so
that it will bring you in a few dollars
per annum or to speculate with the
money and build UP fortune for YOUR
sell and friend wife. We can offer
some suggestions if it is the former.
II the latter, we beg to be excused.
both yourself and your spouse have
the wrong idea, in our opinion. regard
ing the class Of securities to purchase
Tor Investment, for, with the cxccp-
t1on OF Tobacco Products preferred.
when is fair investment issue. all
Ihe stocks mentioned are highly specu-
latlve. Union Carbide stock is all Of
one class. The company is a GOOD
Garner at present, but the stock is very
sensitive to such earning power. We
belleve you would do better. unless YOU
oeslre TO speculate, to purchase only
those securities wh-cr are not in a
position to be affected to any extent
by the fluctuations in earnings. Good
preferred stocks and good bonds are in
tins class: The following preferred
stocks yield between 7 per cent and s
per cent: Bethlehem Steel preferred,
united states Rubber preferred, Bor-
den's Condensed Milk prcferred' Fisk
Rubber preferred, Goodyear Tire and
Rubber preferred, Packard Motor Com
pany referred and Sherwin Williams
preferred.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-01
Young Woman Submits Problem

oucstion-'ro state my problem briefly. 7
ann yo Haa t., woman of twenty five WITH
would like to invest in some safe securi-
ties that would bring In moro money. I
opportunity for investors but I feel that
! am too inexperienced to select my own
i,nyestlnents and would like to rely on the
would Hike to know II there are any in
uustrial or railroads stocks that arc con
H par, safe. Arc there any stocks of
nl'r't which seem especially attractive
buys now and on which profit might be
,nna''Scu later on? do not depend on
"nord TO wait for a return on my invest
mcht providing 1T IL reasonably safe. VIII
YOU Kindly mention some which you would
recommend? How do you regard the fol-
lowing; Canadian Pacific Union Pacific
rrn"rlo"n car and Foundry and Atchiscn.
s solIH" santa Re? or tho railroad
them above the others? / would also lilta
10 know about some other indust rial stocks
, mnn, you would regard as a good invest
nlr mem, shall DO very grateful for this
ADVICE and would greatly appreciate any
Hunl'ional imagination that you may add.
would also like to know YOUR oninion ~
inc market and II you think stock. viii
t YAK another drop in the fall owing to the
sism'ness OF money. or do you believe the
l.. A. l.. "s ''i'io -
Answer-Wc are rot quite sur.
whether you wish to invest your ST 500
or 10 speculate with it. If it is the
!ormer we can offer you some supges-
.'ohsr III the latter we cannot under
take to help you. When inouirers
state that they desire a good security
winch will advance in price we feel
mat they will not be satisfied with tho
Grass OF investment we suggest he
cause we cndeavor to mention onlv
those securities which are free az far
as possible of any speculative feature
f r investment consists of purchasing
nor income purposes. Speculation is
purchasing for the rise or selling for
lhe 1all. There is nothing wrong in
speculation. Our endcavor has Soan
TO keep those people away from II Who
cannot afford to lose. We believe tho
present prices OF investment issues is
secn that advantage should be taken
vi tnem. The stocks you mention arc
2 o. to the companies earnings
dividends frequently vary from yea
to year particularly in the case of "a; "a,
u u'st issues. We do not recommend
suvn securities for investment. hut
ralher those issues which arc SO we'll
secured that the fluctuations in earn-
lnss 40 not affect them to anv great
eSteh1. Good bonds and good nre0
nerred stocks are in this class. Won
nay start with Liberty issues. which
SIe,o o e per cent, and then railroad
ana industrial bonds to yield from g
per cent TO per cent, and finally son.
sohed preferred stocks to Weld fror,
~ per cent to 7A per cent. W. WAN an"
IN this column. ''0'' o"'ly
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-01
Northern Texas Electric

Question: wish as fun Information as
possible in regard to the Northern Texas
Electric Company common shares and tho
international Cotton Mills preferred They
have been suggested to me as good stocks
TO buy at present prices. Any information
which You can give mo in regard to The
assets back Of these stocks, past earn
ings. present business and general out
look Will be appreciAted.-I i. W.
Answer-The Northern Texas Flee
trio Company owns the entire issued
capital stock and participating mort
gage bonds Of the Northern Texas
Traction Company, which does the en-
tire electric railway business in Fort
between Fort Worth and Dallas, thir-
ty-fve miles. 1t also owns the Tarrant
County Traction Company, operating
between Fort Worth and Cleburne,
thirty-one miles, and the Arlington
Light and Power Company which does
the electric light and power. ice and
water business in Arlington. There are
$3,467 900 collateral 5 per cent bonds
due 1910, $4,000,00O 6 per cent non
cumulative preferred stock and 49,
100000 common stock. Six per cent
has been paid on the senior issue of
stock since 1905. Payments on the
common stock have been irregular, the
present rate being SO per annum, the
nlGneSt rate yet PAID Net earnings
after taxes, charges and sinking fund
have risen from 100000 in 1908 to
over 100000 in 1919. Present re
serves and surplus arc carried in the
balance sheet at nearly S2,000,000.
While this company appears to have
been very successful we regard the
common stock as speculative, as it is
rather sensitive to earning power. The
international Cotton Mills owns the
Consolidated Duck Company; the Stark
Mills, La Grange, Ga; the Hoganville
Mill, Ga, and controls various other
mills in Massachusetts, New York and
Canada. The company also owns all
the stock of the J. Spencer Turner
Company. The capital is $5000,OO0 7
per cent notes, $5,0000000 cumulative
preferred, and $4,758,733 common, both
$50 par. The stocks are listed on the
Boston Stock Exchange. The earnings
for 1919 were $3,023,049. against $4,-
087 1852 for 1913 and $2,355,779 for 1917
No provision had been made for Fed
eral or Canadian taxes, however, the
estimate being that United States
taxes would be 100000. We regard
the preferred stock as very fair in
veStment.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-01
Bethlehem Steel 7 Per Cent Notes

estion-Please give me your opinion
as TO the security of Bethlehem Steel {
per cent bonds maturing 1923 Ny banker
recommended the above bonds as a short
term security 1t is my desire to hold no
securities of speculative nature.--I. J.. J.
Answer-Bethlehem Steel Corpora
ton per cent notes, Of which there
were originally $5OO0O,O00 (S15, 900 900
having been paid OFF,, are secured by
pledge of 70000,000 new consolidated
thirty-ycar sinking fund per cents. due
August l, 1913. The indenture of the
note issue states that the corporation
will not declare or pay dividends on
its common stock which will result in
reducing the net current assets of the
corporation and its subsidiaries as de-
fined in the indenture below the face
amount Of these notes then outstand-
ing. We regard the notes as good
short term investment.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-01
Old Trick Bobs Tn Again

tuS w"e s.n received tho enclosed lttora
, ,use Yesterday by natl. This was '1 foi-
Collin up ny by telephone call from NJ. a.
amount OF twenty-five shares at si 81" n rne
wnn,d giving mo to understand that IL
,wenty four hours would probably bc '', s9n
fNr s Wo,' The party that spoke to me
iandt " sapSr snggested that cali up Cort-
~, nc STOCK and Bond Reporter" but fol-
, m.,,n nus up through the telephone com
privatn n m,no mat the above number was a
SS'C "a , ware connected with NJ A. Collins
~ 20 WIN you please enlighten the writnr
ter9 20 Mhat your opinion is about this mat
Answer-The Tribune had no notion
that this antediuvian method nf seno'
rating the guilible from their mon p
was stlli in use in Manhattan, but. sure
enough, telephone call to Cortland
oa99 brought forth the statement that
1hat was The Stock and Bond Renor-
yer and the inquirer would presently
be connected with the steel department
Al TINS point Mr.. lie Roy, evidently
,he steel expert, begged moment to
look up the Sligo Iron and Steel Com
pany. When he had had time. ostens;-
bly,, to do this he launched forth into a
panegyric about Sligo that does credit
ooth to his imagination and histrionic
aolilty Yes, yes; it was a fine company:
hlhety-seven years old; was going
10 make lot of money; and the stock
was guaranteed by J. P/Morgan, the
guaranty Trust Company and some
lesser lights of the financial armament.
inquiry about NJ A. Collins &. Co.
brought forth the information that the
speaker had known them intimately
eleven years, that they were fine.
tirst-class house, handled nothing but
nlgh class securities and could be de-
pended on in every way. Then, to lend
hnal touch of realism to his mum
merry, the pseudo steel expert of the
imaginary Stock and Bond Reporter"
sitting in the Office of NJ. A. Collins &
20, mad the nerve to ask for a 5O-cent
lee Tor the information given. This
demand ne magnanimously waived
however, when the inquirer protested
that is, have NJ. A. Collins pay the so
cents. The Tribune put in another
call for The Stock and Bond Reporter"
and was informed that it had the
wrong number. Concerning this call.
which was received by NJ. A. Collins E.
Co., the company's manager says: "If
,he young man who answered the phone
had canvassed him (the person max
ing the call) on Sligo, as he had every
excuse Tor doing, he would have told
You that we answered for The Stock
and Bond Reporter." This admission
is made in signed statement to The
Tribune in response to its offer to per
mt the Collins people to state their
side, and it is coupled with a general
denial that the Collins company would
countenance such practice as alleged
IN your letter. "The Stock and Bond
Reporter" has made favorable report
on Sllgo, but it was not in collision I
with the Collins outfit and had no
knowledge, according to its statement.
which The Tribune believes. that the
Collins statesmen were impersonating it. /
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-01
Answer-The United States pnhh.
Missouri pacific'S nrnsnncts

tQuestion-Please give me your analysis
OF the value of Missouri Pacific stocks.
common and Preferred What dividends
have accumulated on the lsttcr? My an
derstandinS is that this road was reorean-
ized on thorouS hgoing AID conservative
basis and that a considerable improve
lHrnt of physical equipment and operation
followed Dos tho road now give good
promise of pulling out OF the hole. assum-
ing that tho Interstate Commerce Com
mission permits rate increases adcqua,c to
the needs of railroads generally Il. W.
Answer-We unders- and that Mis-
souri, Pacific 5 in very fair physical
condition. The reorganization was con-
sidcrcd rather drastic but shortly
thereafter the roads were taken over
by the government. with the result as
YOU have witnessed. With hoped for
rate increases based upon fair prop
crty valuations the road should do we'll.
for it is large system traversing a
splendid territory. The preferred
stock became per cent cumulative on
June 30, 1918.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-01
Break i'm Cotton
Sends Prices Down
TOLOwest of Week
Unfavorable Trade Outlook
Combines With Improved
Crop Reports TO Cause
Urgent Selling i'll Market

The heaviest break of the week &C.
Cured IN the cotton market yester-
day, leaving prices at the close 40 to 80
points under the previous night and at
the bottom for the day and week. Not
outstanding the fact that the trend of
prices has been steadily downward for
some days, sentiment appeared to be
even more bearish yesterday than on
any previous time during the week
Two factors were mainly responsible
or this attitude on the part of traders,
one being the continued favorable crop
accounts from the belt, especially
Texas and the Atlantcs, and the other
perhaps the more important-the un-
satisfactory conditions in the dry goods
trade which are being reflected in mill
curtailment. Thus, curtailment in Fall
River mills for the week was fully
100000 pieces, with sales only 10000
pieces, while reports received dur day
announced that Augusta. a., mills were
closing down for lack of orders.
The dullness in textile circles is not
confined TO cotton, but seems to be
general in the wool and silk indus
tries as we'll. With new crop coming
on which is likely to be in excess of
earlier estimates and domestic demand
thus curtailed, with indications that
foreign buying will not be on the scale
hitherto erpected, there was little dis
position N speculative cotton circles to
anticipate any immediate return OF
nigh prices.
Because OF the additional demoral-
zation in wheat, the West was a good
seller here, and both Wall Street and
The South acted aggressively on the
same side of the market, the latter
being influenced by the promising crop
accounts fro mthe Atlantics. which tend
10 strengthen the view that, no matter
What the bureau report on Monday may
De, the trade Will feel that present
condition OF the crop is considerably
better than at the time the govern
ment figures were compiled, on July 25.
In view Of present prospects, the
chief argument OF the bulls is that
prices must now be close to level
able points in the crop outlook and that
the plant, which is still from one TO
.hree weeks late over the belt, must
iace the critical month Of August,
which is always testing time in the
progress Of the crop.
Bat while this theory in normal
Years might carry a good deal OF
weight, 1t was pointed out that equally
important as a market factor this year
Is the unsatisfactory condition of
trade, it. indeed, this one influence is
not regarded by the market as OF even
greater Importance at the moment any
now than crop conditions. Without
normal distribution of goods. it is ar
gued, even 100000 bale crop might
easily prove burdensome.
The government report tomorrow
VIII compare with TOT last month and
tom i,,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-01
TyrO Inclines Toward Speculation

Question: have couple OF thousand
uoiiars to invest. but do not know the first
ming about the stock market offerings
y bond salesman. has advised me TO buy
nlted Light and Railroad first and re-
sanding mortgage per cent gold bonds
1882. at 49, Mobile & Ohio. Montgomery
division, first 5s l947. at rs. Are these
ialrly good bonds? Can you suggest any
thing that will give me a greater return
WITH equal safety? DO YOU consider
Michigan Central second As, 1929 a good
buy at rs have been reading your
column in The Tribune regularly and sec
bonds. Can you name some speculative
stock that offers good returns and yet is
not too wild "A. X
Answer-Both United Light and
Railway per cent, 1882, and Mobile
& ONO, Montgomery divisi ion, 5 per cent
bonds are fairly good investments. You
cannot expect to obtain bond of high
grade to yield such a large return as
these issues. The best mortgage bonds
Yield from ~ per cent to 6 per cent.
II you insist upon a high return, the
security back Of the bond will proba-
bly, not be SO good Other issues which
appear to be fairly we'll secured and
return high yields are Denver & Rio
Grande Improvement 5 per cent, 1928,
to yield II per cent; Missouri Pacific
first and refunding 5 per cent, 1923. to
yield 1850 per cent; Baltimore & Ohio
prior lien 3l2 per cent 1925. to yield
S9i per cent. International Mercantile
Marine preferred, paying Sc year, has
sl2 back dividends to pay off. Or YOU
might try some of the good dividend
paying railroad stocks Don't try to
shoot the moon at first.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-01
your investments have
How to Invest S1O.O0n

Question: have $40, 600 to invest How
YOU'D YOU place it if it We're your money?
40 Liberty Loans.-D. c.
AnIswer--Among the following Sc
curltics may be found investments
upon which You should average about
o12 per cent. All are Of long term and
Well secured: New York Dock first
per cent, 1881: United States Rubber
Hrst and refunding . per cent, 1947;
american Telephone per cent. 1916
Cnlcago, milwaukee, & st. Paul general
per cent, 1859; Atchison, Topeka G.
Santa Fe adjustment 4 per cent. 19o5.
Denver Rio Grande consolidated :,
per cent. 1885; United States Steel
per cent preferred American Locomo-
tive per cent preferred. Corn Prod
ucts Refining per cent preferred and
Standard Oil Of New Jersey per cent
preferred