davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-01-25
Sharing Pari Passu

Question What Is the difference between
debenture stock and preferred stock? What
IS the investment value Of General Motors
per cent dcbenture stock? had An
option of taking this stock at 81 or cnsh
or this stock and cash in any proportion
when General Motors bought out a smallc-
company. What ia your opinion Of pre-
terref stock in varied industrial colnpa Mo =
and department stores for the small in
vestorI This is tho class generally recon-
mended by reliable local brokcr-C O.
Answer-|t depends upon the pro
visions set forth by various companies
as 10 whether or not there is d differ
ence between preferred stock and de-
benture stock. Sharing par passu
means sharing equally. The debenture
stock of the General Motors company
shares pari passu with the preferred
stock. both as to assets and dividends.
The debenturc stock carries no voting
power. however,. unless the earnings on
the outstanding debcnture STOCK
TO less than per cent in any
year. The investment value Of the
debenture stock Of General Motors is
shown by the fact that for seven
months of 1919 the earnings on the
preferred and depenture stocks equalcd
4618 per cent. Preferred stock Of
companies which have no funded debt
are always in a better position than
though there was a debt, for in the
former case the stock is first lien
on the property and assets Com
panics which have shown ability to
earn we'll over period of years, in
cluding wears of business depression.
arc the ones whose preferred stocks
should be considered
New-York tribune., 1920-01-25
Nothing Left. ADnarentIv

question VIII YOU kindly inform me what
IS thc present status of American Mating
common stock Also. what arc its pros
poets have written 10 tho company but
nave been unable to obtain even an answcr.
During The process of dissolution of this
company. which | have been led TO be olicvc
was mere change of name. | noticed in
n news column that there was a possibility !
of tho common shares not being frozen out
II these shareholders sued for their equity
Do YOU think there is likelihood of sue
cess Il such suit should be pursued now >
S w
wer-The real estate plants. ma
chnery and assets, other than cash Of
the American Mating Company were
purchased from the trustees in liouida-
ton by the American Malt and Grain
Company. This sale was approved by
order of the Court of Chancerv of New
Jersey on June 9. 1919. There was a
distribution made to first preferrcd
stockholders, who were entitled to 500
share. These stockholders received
two hquidating dividends of 80 per
cent each and one of 70 cents share
in 1919. This left deficit on account
of the first preferred stockholders of
S39.2i. The company had no further
funds. There appears. then. to be
small chance of the common stockhold-
ers receiving anything They were
given nothing because there was moth
ing TO give. We cannot see much sue
cess for them in instituting suit You
cannot get water from stone.
New-York tribune., 1920-01-25
Reserve Bank
Loses Gold, While
Rcdiscounis Rise
Ratio Of Its Reserves 10 DE-.
pOsii and Note Liabilitic.
Again Drops Below 10
Per- Cent

Owing to loss in Hs total gold r.
serve of S26.37S,6l7 and an increase of
Sd3,47l ,4SJ in bills rcdiscountcd. Tie
Federal Reserve Bank Of Now York.
ratio OF reserves 10 deposit and not
liabilities dropped to 39.5 per cent ron
trasted with 41.i per cent FOR the week
ended January Is. The ratio Of gold
reserves to Federal Reserve notes in
circulation after deducting 80 per cen,
against net deposit liabilities was 43e
per cent. against AT the week before
The biggest loss in the gold reserve
item was IN the gold settlement fund.
which dropped from S94198.o92 TO
SCI ,o2S.40o. On the other hand. gold
com and certificates increased in the
last two weeks from Sl24.s42 ,sa6 70
Sl3l, ,l02,961. Other changes wcrc
slight.
An interesting disclosure in bills
discountcd' was an increase Of ss2.
"6s.9l3 in bills secured by government
war oblulgations and drop from
S2ss.304.s21 to $27s. .595.974 in CONNER
clal paper holdings and p decline from
S212.295,536 TO 500. 706.955 IN the Re
serve Banks holdings of bankers ac
ceptances. The reduction in CONNER
cial paper holdings may have been due
IN part TO the increase in the redis
count rate during the week from Az 10
per cent, but it was believed that ,his
action came too late to exercise any
important influence
The weekly Clearing House state
ment revealed A setback in the roservs
position Of member banks. that item
dropping to $13.363.750 contrss-ed with
$34, 221 $40 for the week ended Jsnusyf
~. Loans and discounts declined s3A.-
o6' 900 to S5,276.Ol9. 900 The re, Dr.
mand deposits of the banks stood a
50, 81 .634 900, a decrease Of S732700O0
Onltcd States government deposits
dropped from s193 a2o,o 900 20 sl5s.5s5.
900
New-York tribune., 1920-01-25
Not a Hard Selection

Question Kindly give me information a.
10 some safe Investment 10 earn about
!' oer cent Is the American Tclenhonc and
telegraph. in which think of investing
perfectly secure: also the TitIc Guaran,ee '1'r,s
and Trust Company at 5 per cent have
some Pennsylvania stock which has depressed
since | purchased IT. | would also like your
Icr cent loan, also p British Investment
Mrs c. d.
Answer-Thc following bonds WELD
about s per cent and appear to be
ent'tled to good investment rating
at present: New York Dock first 4 ner
cent, New York Gas. Electric Tjaht
Heat and Power 4 per cent. Illinois
steel az per cent, Virginia Iron. Coal
ana Coke first per cent, Chesapeake
4 Ohio general Az per cent. Atchison
adjustment per cent. America Telc-
phone and Telegraph stock. paving s
per cent, has not shown substantial
margin OF earnings over dividends. and
while an otfcial Of the company re
Gently stated that the company would
prohaoiy continue present dividends.
we do not recommend the stock as =
sound investment. Title Guarantee and
Trust Company mortgages are entitled
to nigh investment rating. The com
pany issues them against New York
city real estate, and the mortgages
are also guaranteed both principal and
interest by the Bond and Mortgage
Guarantee Company. Pennsylvania
stock remains a speculation until we
can determine what will be done for
The railroads. The internal loans OF
France and England offer good specu-
lative investment opportunities. an
parently. These countries have alwavs
managed to pay their debts, and the
exchange situation IS such that the
bonds may be purchased far below
their issue price.
New-York tribune., 1920-01-25
Investment Information
1" h's dcportmcnt The Tribune cill


In this department The Tribune will
fhrotr the light Of such Information
as IS at It's command on TIE inuest-
'nent problems OF ITS rcGdcrs. The
utmost care is used III the cop.pila-
ton ard presentation Of such m
torr1n ton and zee belicue it to he de-
pendoblc. But zee 1cish especially to
emphcs'ze to cur readers the fact
thdt new Developments Of such im-
porfdnce as to greatly chorn- ihs
status ot sec,rhY arc constantly
fakfng place. Therefore. as a matter
Of self protection. the inrestor shSuM
make 1t po'Ht to keep M close touch
"sth the affairs Of the companies
whosc securities he has purchased
and V'h general deueloDmcnts bear
mg upon the rdlue of such securities.
Constcnt acatchfuiness is the best
safeguGrd tho tnvestor can possiblv
hare
Questions Of general inteyes, to
"restors wiN be ons,oered IN this
column, in ,chick case only initials
'oU DC used. Others wiH be an
srcrcd by mail Addrcsc all in
Quiries. inclosing stamped, od-
dressed enueiope to Financial Editor.
lhe Tribune. I54 Nassau STREET. Now
York City.
New-York tribune., 1920-01-25
Consolidated Cigar

Question: am a holder Of twenty shares
Consolidated Cigar Corporation stock and
would like to have your opinion as TO the
value and prospects of the above concern
II. F.
Answer-In spite of a twenty weeks
strike in its New York factories, the
Consolidated Cigar Corporation is said
to have earned approximately S210.0O0
during October and November The
company is said TO have business on
hand to April this year. Production
was reduced about 40 per cent on ac-
count of the strike, and yet the COM
panv increased its surplus during the
quarter ended August 81 from Sl35 900
to S2O0.00O. after q tax reserve Of
S66 900 for the year and allowing half
the annual preferred dividend require
mcnts. The common stock appears to
offer fair speculative possibilities.
New-York tribune., 1920-01-25
Attracted to Rubber Stocks

Question VIII gov kindly inform me wa,
f"' consider the best inpestmcnt in small
srount % common shares Of the following
Xxx Rubber Cornpary common or preferred
,hr h r Goodrich Rubber Company Tho
h~y';onc Rubber and Tie Cornnan.9 I have
noticed that iisk Rubber COMPANY common
.tock - selling A. ic~s than $50 while y
, Goodrich Rubber COMPANY h. a, So A.
ms acts as an inducemens could yol -clf
rn~ why this j. They arc both largo com
panies and from all reports they are pian-
nins for 4 olH nnslncss tnis year fu, I cant
zee Why there j. such big difference in
these stocks. ! am swrniy-one and an, en-
foyed in firm which deals in rubber ti~cs
Snd, Ike every ypun2 fellow would Ike a
Hf'ie ndvice from some orc who lnows Do
IN blink Il IL pood 70 buy thc.c kinds or
f'ocAs. and should invest in them or pu,
MONEY IN savings bark. a. it, IL such r
ANAL amount II J.
Ans"cr The stocks you mention are
foo speculative for your purposes. We
should SaT. All these companicS are
gaid 10 be doing large business ~
proeent. If Il depression in trade
should sct IN the djyldcnds On manv
commen stnc1s you'd probably be re-
dpccd. For pure Investment purposes
yDu should purchase. lret % all. Lib.
offy bonde. 7 hey no not gjYe you
mich ezcitemonf, but they arc quite.
safc. Ao1t, there arc good bonds ol
-orpofailons and then good. seasoned
preferred stock. Ike United States
Steel. United States PnbbDr. Central
Gather and other companies which
'aYo maintained their preferred dil- F
i"rfa regularly. even through years Of .
lepTcarsor. fiTl Rubber ztocl has a
~ n li" r. 81 atare. bD' ne 1toc,
fi@ Pr 81 2 shaYo, or aiYnoHf 17n
>' 'fa' Goodri~h Is fieJ 81 yainr
New-York tribune., 1920-01-25
Direct Answer Difficult

Question !'or some time the writer ha.
been reading your financial comments i'm TN.
lrihunc, and Il seems possible You might
help me in regard to the dcbcnture lis Of Inc
New York. New H@scn & Hartford Railroad
Some time ago the writer hourh, five of
these bonds at an average cost Of III. II
mas often occurred TO rs that it would he :,
good plan to buy more of the bonds al The
market IN order 10 average down the cost
We can very we'll wait for the eventual sol
'ienleh' oi the present amount g.. uOn which
VIII not cause any special Inconvenience if
me settlement Is DELAYED somewhat We
would. however, dislike TO have $40 GOO tied
up IN recclvership which might be Ions,
and disastrous to the company We note
ohaf. although YOU furnish a great deal of
Information in regard to investments Won
very s"loom advise n particular action. We
would be very glad if in thi, instance Won
could not only give us some information bu,
also some advice. As TO what is best 10 he
donc. The writer understands the situation
you are IN. and there will be rocrimina-
ton o. comeback if things do not turn out
As expected +. r. II
Answer We have repeatedly stated
IN these columns that VIC believed the
railroads would. in the last analvsis
receive a square deal We based iris
belief on the fact that more and more
people realize nov very important to
'hr nation arc its railroads. We do rot
attempt TO forecast the situation. We
DOUBT 1t any one can with. any degree
OF success # there is no logislatIon
favorable 10 the carriers and there is
no increase in rates. it spells receiver
snip Tor many systems That is appar-
ont by the earnings of the railroads to-
day Ncw Haven * doing badly. We
DO not pretend TO know what It's posi-
tlon Will be when the roads hnvc been
turned hack. If You believe the square
deal Will be granted. we should say
mat tn" dobcnturc 8 per cent bonds Of
the Now Haven should be purchased
nov. Rcallzc this. hoWppcr: Consit
erable financing viii have tr be done
later ON. Can the Now Haven do any
further financing under present condi-
'ions' Who would buy its sccuriticsr
IN our answers 10 questions of this
sort do YOU not sec that IT rs a oucs-
ton only of what tho future may bring
forth? We believe IN this country and
IN the ability Of tho pcoplc Of the ma
t'on TO settle their problems inteIli-
gently. All We can say 90 you is TINT
tho element Of speculation must Of no
'cssi'N cnicr into the Investment prph
"m which you hnvc under considorn
inu
New-York tribune., 1920-01-25
Belgian External Loan

Question Regarding lhc Belgian govern
m"nt external gold loan. Is II n safe invest
mcnt for one who cannot afford to take "A
chance Can YOU suggest anything better
for investment Of 81 .0oo7 j. a. H.
Answer Belgian government cxter.
nal bonds. recently Aoatcd successfully y
here, are not tho highest grade of m
vestment. Belgium suffered greatly
from the war and it is a question how
long a time it Will take her TO assume
her former position in tho world.
Therein lies the speculative feature.
Belgium has tho moral backing of most
OF the great powers. and for tha, roa-
son the bonds would appear TO be safe
enough. You speak about not being
able to afford to take chances. In that
case you must realize that The invest
mont FOR you is liberty bonds.
New-York tribune., 1920-01-25
Atlantic I.obns

Question win YOU kindly give me some
snbstan.. i@tma''In c"n, nn"u' Atlantic Lobos Is il
u ever pald dividend? ANY further in
formation viii be highly appreciated
Answer - The Atlantic Lobos Oil
Company was organized late in 1919
AS combination Of the Port I.ohoe
petroleum Corporation and the Mexj
can holdings Of the Atlantic Refining
company, former Standard Oil sub
sidlary. The company has an author
ized capita Of 2OO,o shares of nre-
ferred stock of $50 par value and 500
900 shares OF common stock Of no par
value The preferred stock is entitled
TO cumulative dividends of IS (1G nc,.
cent? per annum, and participates
equally share for share with the com
mon stock in all further dividends
HAT Of the stock was exchanged for
stock Of the Port Lobos Company and
the other half was taken by the At
,antic o. Producing Company. Atlantic
ke'lnlngs subsidiary The Port Ilobos
Company held property agrreqatin,,
more than 10000 acres in the LIGHT oil
producing fields of Mexico It owns its
own railroad. pipe lines floating equip
nfnt, pumping and loading stations.
with sui'iclcnt sea lines TO load several
tanAers at the same time. and with a
pumping capacity Of 5000 barrels an
hour. The loading station AZ Port I.o-
Dos extends for three miles on the
Gulf and adjoins the Atlantic Refining
Conpany's station. The latter com
pany erected 10000 barrel refinery
and large storage facilities on this site
Large additions are planned and ar
rangements are being made for thc<cN-
tension Of foreign business The Port
Lobos Company only started deliveries
o. oil IN August, 1918, but it shipped
100000 barrels IN the first year. To
day the Atlantic Iobos Company 'is
ono Of the largest shippers Of oil in
Mexico In October alone it shipped
l,ll900o barrels. 40 dividends have
as ", been paid. although the COM
pan|s earnings are said 10 be large.
The directors include Inc following
men; James Il. Duke, Vernon c.
Brown. +. Slve wright, Cato and Rufus
|. pat4cr40r
New-York tribune., 1920-01-25
Silver King Consolidated Mining

Question / hold 100 shares of Silver King
Consolidated Mining. and recently was
considerably shocked TO read in your In
Nestmcnt Information column that the price
~ the shares only Ia cents When
! got in touch with my broker nc assured
me this was a mistake, much to my relief
mat information can you give me about
The company C. g
AnsWer-We regret having given you
undue cause for anxiety. Silver King
Consolidated, which is traded in on
the Salt Lake Stock and Mining Ex-
change. is quoted at 80 bid and $40
asked. The company Will issue its an
nual report early in March Il has
been spending approximately $3.50 900
in the acquisition Of additional prop
crty and in development work, consist
ing mainly Of n three mile tunnel.
moro than two miles OF which have
beer completed No dividends nave
been paid since April 1913.
New-York tribune., 1920-01-25
Small Investor. but Alert

Cues Your criticism in to-davs Trh-
une of several stocks. common and | believe.
also preferred. prompts me to ask YOU for
your opinion Of the latter which | hold for
investment. You will see from the number
Of shares Of each that am a small in
vcstor | may add however, that about %
per cent OF my total holdings arc in Liberty
bonds ana about % per cent additional
in other government or industrial bonds
Tho stocks referred to Five shares Cen
eral Motors preferred. at 90 three shares
American Locomotive preferred. at 997s ton
shares Of Sante Fc Railroad preferred. at
Sd three shares WHY'S Overland pre-
ferrcd. at 95 7s five shares Southern Rail
way. al 70sa five shares Chicago & North
Western Railway common, AT on1s Would
YOU advise the holding on TO all or some of
the shares perhaps switching into others.
even a loss, based on present quotations >
X. D.
Answer The industrial preferred
stocks You hold all appear 10 he safe
enough at present. The earnings Of
the companies are ample 10 provide a
good margin Of safety. Atchison pro
ferred also shows fair enough margin
Of safety. Atchison is one of the few.
railroads which is able TO earn almost
all of the government guarantee.
Southern Railway and Chicago & North
Western are not earning their divl-
dcnds at present. For that reason they
cannct be rightfully placed in the IN
vcStment class. 1t depends upon wha,
KIND Of treatment the calN icrs Will re
ceive. If legislation is constructive
these stocks may then find their way
back into the invcs tment class If YOU
do not care to speculate upon this mat
ter there are good preferred stocks
which are WORTHY Of consideration. A
few arc tho preferred stocks Of some Of
the subsidiary companies of the Amcri-
can Power and Light Company. such as
the Carolina Power and Light Com
pany. the NadAin Power and Light Com
pany and the Ashcvile Power and Light
Company. These stocks. paying per
cent. sell for about 100 They arc opcr-
ated by the Electric Bond and Share
Company. a subsidiary Of the General
Electric Company. One of tho best
features of this company is its willing
ness AZ all times to issue frequent
statements Of earnings Any reputable
broker Will be glad to give YOU in
formation ON these securities. or
course. YOU musrkoep yourself we'll in
formed at all times, for conditions arc
likely TO change. and any company. no
matter how successful. is likely 10 feel
the Ell ects Of these changes
New-York tribune., 1920-01-25
Railway Steel Snriuv

Question can readiiy scc from reading
j"Hr replies 70 oihofs upon the merits or
domofits Of certain iu"siiors pi!f 70 You ~
'" NnHnriHi tHl1"' ami al tisr ae 9.oll that
Your replies ARE scrv conservative and shoy,
q" me. Uoy'c" in these thinVa II well bal
auccd mind in dctef mining your advice As
] hasr long been interested 10 ws,ichlnv the
sfocH ~ The RAILWAY Slrci Spring Comnsny
and haging recently bought some of the
common n fSts should Ike 10 get your
opinion OF ia" company before / buy any
more. i"u kro~ of tbrir big surplus com
Dared - their outstanding common .nd
1rFforfed sfock Why should no, th.v s,ock
90 north Sl@o II sh"rc nu we'll ss some
'in"r f'oc}a NTH not 50 favorable .hnw-
ng y" 20" not mink stock ,,id~nd in
'N nor ditifni future Is 4 posribuifY IL
~ spbntiifs7 D eeo,n. =, H., .,,D,
New-York tribune., 1920-01-25
Bid and Asked
Bid. A ke,i

a. a ""%1' ,%s. pr 70: Ew .,,1aa q * 4 .
>d d" F. rn. s as'sNarkaT Cos 8 q
rd'e g. lsS'. Ssass' Ms@ss' F Ne''A q 4S 81
A. e T.. ! + pr.iiA iiS Hs%%sl "'. M aa4 8.
Am Am ,1 'npTeSS 81 a. 's MAJ I,c st lo57s loe's
i" +, S%'i' m pr 80 To- " d, % . p new q g
Am snar .1es Il. NJ * & I pr ~ IS's
Am Sugar lis l9o Nash & chat. lo5 nix
Am STn Tri I, pr 81. a5. g Nss EiS,ui' rs T..
Am Tchacco.2i 90 DO NJ 700 ,oS
Am & H.. l9'= :. +; x $ pr ioi io ioS I
A~sr~ n co T., ~ MIR ';STq 81 Isl pr pr ~ ips s
- 6 &, Is, 81 pr = = do q pr -. -.
AA.so on lie ~ y Air Br los'z lo7
t.s,a ~ '9ts 1s... -. -, ~ a94 \ a J. q %
s,e'iIss Is g.. N J.. a9 Z 5oss 1s - 5 !.
do ..a pf IS 100 NorfolP @9 p So. 10 10 80 So,
nEn n1a Tais9n e. ca y s.zN Nogf W pr S .
Brown sh pr % 40 ovens Rof pr Is 100 a,+
,'s,l..n ,Mrms ,s EFs pr 100 loss rscisc 'oas. %
Eaa K x r ~ . rariac "i "a M.ii. Rs !, s 90 50
nuH 1 sas. 20 20 !, I,ooSIa AIN ret pr Il, 2g9
'" i;";isrte Term q s., s. 100 ds e e'isr =.
al Pack pr III l1s PerI ,iYr,I l. E. s =
csn s ia sau,bn, nT ,i ~. 's ,,ds do lst 100
zen ,.sa OF -, 90 Fierce OIL pr. ~ ~
cea' L., prl5i io7 + " :. pr '7S% "a q
''"i do = pr Al'o" = r. $ e c"T pr ls99'a Ia
'hi ID G., West .s,~Readqr -. - 4. ~
& 4 riq. 50 DO DO q "a pr pr 4 4 4. 4,
CSC 90 H " o q % lss 6 pr = 's:. s: W.
G g. e. g l.. 4 5 /. s@ " ~ y Il =
ciue.t rcab 90 ~. s.a6 aH - =
do do q pr !. : Scars are rF Zoe pr.1i' : 1is-.
CO." com, ca "a" pr So So S. s. su pr ~ *
Gown Prod pr loo "4,sS,and - H' M RT or = = % %
'feN 'arr'l 20 SO sudebaker pr lol 10,
. 6 w7s iss Zee, + "a pr n $40 sSsS- 500 "o
s Hs, ! fdtso 100 III Tssa rs,t,,ar A. d EE I, -
p n~' : '.o HI lo,'.ro,, $ J.. L " IS = ,
G,fs'rD trie "a or pr 13, & r. d. rfs % =
Fs% e.. = sia !Ss"' tf'y s % s9'- g g
snor ' nodv lGo 90 ,o,.1a ~ s.r rss & 50 ss's
Cen 40 JEem r iS2 % 49, 49, :, DO ,. Fr LII 40
& 1isI $ : 5 Is' ,r pr 9s'. es |. EXPRESS 50 81
lIOmcStako SOL SIS / < ( T. n eot.
ln u ,, Hsnl NI-. 20 do pr ...... i6as 47as
'm Iduer pr - loi Va Car Oh los iii
Int ,,,r. Nicke pr SS'9 ao'2 vncan Detin a =
Jewcl Tea ... l,'a lSl1WabaSh 81.
r C1c 10 pr io'2 - DO A.. a1l< q
n S~M pr - 81 do pr Il Il l6
=, N NY 80 W - - Wells Fargo. 5ai, -
~ Hnr pr, pr - lao West Md I'd pr l. -
Messy "nec'' =. West Pacific. % -
t.a.' ,, - ~ 2 do T ..... so 81
ME- q y NJ = WeS' Sc A Bis rs
:, u 90 'S a.. - 70 WoSt'se NJ lst. -
.N' =" Wilson 90 ~ o. l.. 90
a. eie Gas 80 N 10 pr ls77 l9sf
l.ak !, w II Wii,vs n ~, 50 81
10 p =, iS'. Weelvorib pr lis lIS,.
Nv His 60. s. G7 do ~ H -
New-York tribune., 1920-01-25
Liberty Bond Commission Small

Question My wife owns $500 worth Of
~ per cent Victory Notes II is not likely
She VIII need The cash when these notes
mature. Would you recommend selling these
at the present market and buying Liberty
bonds that are now selling around %
What commissions should he paid on such
deal j. NJ. j
Answer-If you do not care for a
short term investment 1t might be we'll
TOR you to dispose Of your Victory
Notes and substitute therefor any is
sue of ~ per cent Liberty Bonds.
There is no regular commission on
Liberty Bonds, but any reputable
broker in New York City should be
willing to transact this business for a
dollar or two.
New-York tribune., 1920-01-25
Standard Parts CompanV

Question How do YOU regard Standa rd
Parts OF Cleveland preferred stock which
has dividend rate of pcr cent NO., an
mum? What information can you furnish
concerning II. Y. Greene Company. Inc.
Nottingham Building Coploy Square Bos-
ton Mass. What is tho "Grccnc Idea" 1ha;
Is supposed to guarantee the investor pc.
cent on his money r. P H.
Answer Preferred stocks Of the
Standard Parts Company might be
classed as business man invest
mont The company is paying dvi-
dcnds on its common stock al the rate
of 6 per cent per annum. We do not
recommend the "GYecnc Idea" or any
similar idea. The larger the return
guaranteed the less We think Of the
idea
New-York tribune., 1920-01-25
Doing Better Than Other Roads

Question VIII YOU Kindly give your opin-
lon on Ontario & Western Railway first
gold As? DO you think them fairly safe
investment? +. +. S
Answer New York, Ontario e. West
ean Is not doing nearly so badly As
many other roads. The bonds are low
because investments generally. and
railroad securities particularly, are de-
pressed at present Favorable lccis-
lation should help railroad bonds. We
sec no reason TO be alarmed over the
New York, Ontario & Western i per
cent bonds at present