New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-10
Victory notes to basis where the yield

Victory notes to basis where the yield
to the investor is most attractive, the
Federal Reserve agent here does we'll in
suggesting that employers endeavor to
perpetuate the thrift movement by IN
ducing their workers to set aside small
share Of their wages each week to create
fund for the purchase Of government
obligations in the open market. Such a
movement would retain the great social
advantages of the wartime saving move
ment, which are so likely otherwise to
be lost
The other day we asked well known
Wall Street man what he thought would
be the medium Of the next big specula-
ton. The answer came instantly and in
tones of fnality, as if he had already
thought the matter over and made up
ms mind. 1.-THE next big speculation, -
he replied. us already in its first phase.
II VIII be IN government securities, par
ticularly the bonds of foreign coun-
tries 1t may easily turn out that he
IS right. Certainly, there is wide inter
est in such securities. The Surprisingly
large proportion of questions which we
are called upon to answer through our
investment information column shows
that investors are attracted by the pos
slbihtles Of large profits Further proof
Is to be found in the fact that concerns
specializing in the sale of foreign securi-
ties and foreign moneys and exchanges
are springing up on all sides.
Possibly some Of the older investment
houses would be scandalized were any
one to suggest that they enter the bust
ness of actually merchandising stocks
and bonds and notes over the counte:
for cash, as merchant retails groceries
or shoes. Yet much good might possibly
be done in that way and at comfortable
profits. That the field holds possibii-
Ties is demonstrated by the FAC shet Tire
security shops on Broadway an. otaec
expensive thoroughfares last
Most OF them are curious places in
the eyes of any one accustomed to the
orthodox ways Of finance. We noticed
one not long ago in the heart of the
White Light district 1t squats amiu
theaters. haberbasheries lingerie shops
tickets speculators' Offices and the other
stage effects Of Broadway in the 40s.
There is window display which at
tracts the curious. First. there are a
number Of gold COINS; but these arc OBJ
viously to catch the eye. They are a
mere sideline, to be sold, mounted as
gifts since gold COINS are not inher-
emily speculative. The eye is pulled
away from the glitter of real gold money
BY carpet of foreign currency, which
also looks exceedingly impressive unless
you happen to be q reader of the fnan-
cial page and aware Of current quota
tons, and everywhere there are little
signs, which are geographically much
like those in Baxter Street store win
doWs, which appeal to the passerby t.
"Take me home for $4.49" One recon-
mends German municipal bonds-balf q
dozen issues are named and many
others. Another offers Russian rublos
at cents, boastfully asserting that Eve
have thousands of them" We don't
doubt it, The last report we saw on
Russias finances contained complaint
that the Bolshevist governments ex-
penses were upward of $4,000 O00 rubles
day, which was embarrassing because
the capacity of its printing presses wos
only 5o,0O0,o0o daily. German marks
were also offered at 2 cents, which fat
ters them when contrasted with current
quotations elsewhere, but is less hatter-
ing when it is remembered that 2 cents
is also the Broadway price of d rubie.
If that sort of thing can succeed, one
wonders if similar methods wouldn't sue
coed with real investment securities.