davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-11-07
Widows Prime Need Is Safety

Question: n widow and would like
70 feel ! have used Judgment in my pur-
chases and would you kindly advise me
ments: Ten shares Corn Products pre-
forred 80 shares Bethlehem Steel per
cent. 80 shares Prairie Pipe Lines, $50
shares General Motor per cent debentures
New York Central equipment bonds :
per cent and 20 shares Standard Oil Of
California.-MRS. L. s. y.
Answer-With the exception of your
Prairie Pipe Line and Standard Oil of
California stocks we believe your in
vcstments are good ones. While these
two companies are sound corporations,
!howing good earning power, the
stocks are very sensitive to earnings
and are therefore too speculative for
conservative investment. We do not
know what your position is regarding
such stocks. Perhaps you can afford to
peculate. If not, we advise your dis
posing of them and purchasing such
issues as Canadian National Railways 7
pc, cent equipments 1885, Bell Tele-
phone of Pennsylvania per cent 1890,
Standard Oil of New Jersey per cent
preferred and National Biscuit T per
cent preferred. These issues yield
from $50 per cent to 7 per cent.
New-York tribune., 1920-11-07
His Education Has Berun

QuestIon--I was foolish enough % buy
outright ten shares Central Leather com
non at 50 Nast dividend passed., ten Ana :
conda at -. ten Inspiration at $50 What
would you do with them Can afford to
hold them at present A "conservat,ve"
broker got ms into these last year before
began TO become educated by your arti-
clcs.-B. 7. r.
Answer-It is a difficult matter 20
give you the advice you seek. The
stocks you purchased were very at
tractive, so far as income was con-
cerned, at one time. Now that we are
passing through q period Of readjust-
ment, things are different. We have
consistently advised against the pur-
chase Of such securities for invest
ment. because they are very sensitive
to developments within the company
and outside too. Many people believe
that the general speculative market
has largely discounted the situation
II you can afford to continue TO spccu-
late. you r1ay be able TO make ap part
Of your loss by holding these stocks
Ecyond that wc are unable to give You
much help.
New-York tribune., 1920-11-07
Naracaibo Coffee Crop
Review Shows Big Surplus

AS the coffee season in the Mara
-aibo consular district for 1920
draws to a close, large stocks OF coffee
remain in the warehouses Of exporters
Their stocks on hand on July 81 of this
year amounted to 214,800 bags. This
of course, is due to the prevailing low
srices. The geathering Of the new crop
Cor the year l920'21 was begun in
Trujillo in September, while in the
states of Tachira and Merida and the
districts of Cucuta, Bocono and Tovar
Sae gathering was begun this month.
The product of this district may be
roughly divided into three grades, the
Cucutas, Tachiras and Meridas being
Of the finest grade the Boconos and
Tovars the medium grade and the Tru-
ilsos the poorer grade.
The normal annual production of this
district is placed at about 500 600 bags
,of sixty kilos cachl, and while the
production for the season 1902 is
estimated at this time to be consuer-
ably lower than that of the last two
scasons, it is expected that it will run
slightly above normal
New-York tribune., 1920-11-07
Hupp Motors and I.nrillard

Question: have 100 shares Of Nupp
Motors bought at 81. What are the pros,
pects OF tho company in thc future? [
2 lso own 90 shares Lorllard at rs. What
Ia the outlook here Later shares sold as
high as 2A5 last october.-A. j.
Answer-For the year ended June
30, 1920, the Hupp Moto, Car Corpora
ton showed a very considerable in
crease in earnings over previous years.
After preferred dividends the cquivs
lent OF 49.4T per cent ~as earned on
the common. against $50 per cent in
1919. An initial dividend Of 21a per
cent was paid on the common las.
February, thus placing the issue on a
10 per cent IS share) basis At last
reports the company was operating at
normal capacity. We cannot ate mut
TO forecast the future of stocks of this
kind. They arc sensitive to too many
influences. Lorillard showed de-
crease in earnings during 1919, the
equivalent of 1928 per cent being
earned on the common against 1855
per cent in 1918 and 1889 per cent in
1917. During 1920 the outstanding
capitalization was increased about
one-sixth. This caused the stock to
decline in price, as we'll as the fact
that the general market is considerably
lower than last fall This stock is
sensitive to earnings of the company
although the company would appear to
have very fair outlook.
New-York tribune., 1920-11-07
Guaranteed Stocks Of Good Yield

''VDStio1--ls Is Ncivire Spencer frs: pr
tcfi"u stock Hrst class Investment? Why
Is II selling lower than when issued about
a N@ar ago Il there moro than ore bond
issue Toll mo the four best guarantecl
"ookks paying the highest interest.--E. C..
Answer - Wickwirc Spencer Steel
Corporation preferred stock has de-
chned in sympathy with most other
such securities during the last year.
The companys earnings are good. For
the first six months Of 1920 there re-
manned surplus after interest and
preferred dividends Of Sl63s .a55, of
which S+9S,221 was reserved for de-
probation and s2s6.G00 for taxes and
Sl6o,oo0 paid out for common divi-
dends: We regard the preferred as a
very fair investment at present. There
IS only one bond issue, S12,50O.0O
The following stocks are sound invest
ments. IN our opinion: Illinois Central
Leased Lines 4 per cent. guaranteed
by the Illinois Central to yield $50
per cent; Minneapolis. st. Paul &, Sault
Ste. Marie i per cent, guaranteed bv
the Canadian Pacific to yield $50 per
cent; Northwestern Telegraph 6 Der
cent, guaranteed by the Western Union
Telegraph to yield per cent. and 81.
Louis Bridge Company per cent
guaranteed by the Terminal R9ilro,d
Association Of st. Louis to yield e.a,
per cent
New-York tribune., 1920-11-07
Holds General Motors at u

Quesuon--I purchased 100 shares Cen
.Tai Motots az Would you mold it? 1
zee shat the dividend is 81 share When
IS that due What do you think Of the
Idaho Power & Light Company2 heve
tw $1,000 bonds Mrs) +. c. W
Answer-The General Motors Cor
poration is well managed ard = coed
Garner at present, but the common
stock is speculative issue, because il
IS very sensitive to earnings and otacr
"eFeiopments. We do not recommend
such issues for investment It sold cX
dlviaend 20 cents and 2'2 per cen. III
stock on October =. paid Novembn,
The Idaho Power COMPANY bonds are
entitled TO good rating. Earnings
are ample to care for ali charges and
to pay dividends on two classes of
stock
New-York tribune., 1920-11-07
Has $500 to Invest

Nuestion--t have $500 TO invest VIII
you KINDLY iet me know what bonds would
De pest Tor an invcstmcnt to yield per
cent or more? Also, do you consider this
oeing as good as per cent mortgage J.?
Answer-While we'll secured real es-
tate mortgages are entitled to a high
rating, they usually run for only a
shcrt period anl are not easily salable.
There are several good issues which
we regard as safe investments and
which yield per cent or better.
among them are Canadian National
Railways equipment per cent 1885,
6roranteed by the Canadian govern
mcnt and payable in American money:
Bethlehem Steel Marine Equipment I
per cent 1885, Bell Telephone of Penn
SElvanla per cent 1880, Armour &
Co. per cent 1880 and Western Elec
trlc Z per cent 1925.
New-York tribune., 1920-11-07
Curb Unsettled
BY Weaker Tone
Of Big Markets
Oils Under Pressure and
lndusti'ials Are Not in
Demand; Closing Is Near
the Low of the Day

Unsettlemcnt on the exchange found
sympathetic response on the curb
yesterday where stock displayed re-
dictionary tendences in fairly active
trading. Professional traders offered
stocks freely at times forcing substan
tial recessons. Most stocks closed at
the low prices Of the day
General Asphalt which closed at
54ls on Friday opened at 53Ea and
sold down to SO. on dealings Of 5000
shares. Simms Petroleum sold down
to q at closed fractionallv above that
figure. Other oils we're under pres
sure. Dealings in Standard. Oil Of
Indiana we're made within price
range of 100 and 1872 and the closing
price was 745
Bond trading on the curb was active.
but price changes were large. The
Grand Trunk Is sold up to 1929 and
closed at 1929
New-York tribune., 1920-11-07
Marinc Is Well Secured

Question--Would like your opinion 40 70
sa1ety OF principal and interest of the In
,ernat,onai ,e Mercantile Marine ss dong
lernl oond What are the sinking fund
features of this bond Nj NJ
Answer - The International Mercan-
tile Marine first and collateral trust 6
per cent bonds. due October l. 1871. Of
which there are outstanding $3.50 900,
are secured by first lien on the ships Of
the American Line and also deposit Of
all owned capital stock and securities
of the other lines of the company. An
nually, beginning October /. 1917, |
per cent of the bonds outstanding shall
be used out of net income for their
purchase or redemption, at not exceed
ing Ito and interest. We regard the
Sonds as a good Investment.
New-York tribune., 1920-11-07
Drawings of French Bonds

Question-Some time ago You mentioned
decision pending regarding the legality
or the French city. OF Paris promiuin or
lottery bonds In this country Have Won,
any further information on the subject :?
How often do these drawings occur ana
what are tn" premiums? How arn tbev
quoted now and have any drawings been
made yet Are the drawings for the !
per cent Republic of France 1920 SO mi
annual or annual? Can you tell me If all
the bonds OF entire series are Of the
same denomination What was the
amount Of this loan?-W. S. c.
Answer-We are informed that the
City of Paris premium loan is not al
lowed to be traded in here. 1t is
against the postal laws, being consd-
cred lottery. The drawings take
place six times a year. For some rea-
son, however, or perhaps for no reason,
the FRENCH premium loan is not under
the postal ban. The amount of this
loan is 4,000,0 100000 francs. Bonds arr
IN 800 franc denominations. Ten million
francs are to be drawn each wear
March /, June |, September / and De-
cember l. There are four bonds with
100000 francs bonus, four with 500
900 francs bonus, twenty with 100000
francs bonus, and forty with $4,000
francs bonus
New-York tribune., 1920-11-07
Timid About Foreign Bonds

Cucstion-Wrl not the fac. .ha4 .h.
Afnerlcan dollar y gradually Increasing is
puIchasinS Hewer have tendency to
cause the foreign exchanges A.. illnte ~
vur thVorY Aside from tho nuctu.finc az
chanSes, which would YOU giyc ;he better
,H''nS tor safety. the internal government
DpoH"s or canada ~ those Of Great Britain ;
n" hnanciai condition Of tho French anl
'l"Nan geNernna, rt aoems to be CROWN
sleaoiiy worse Ia that true also OF Bey-
t'uln Ia purchasing tho foreign govern-
uahEcT OF getting counterfeit bond -
Answer-The fact that the nurchas-
ing, power Of the dollar is Increasing
VIII tend to cause purchases here bv
foreigners. This, then. would tend to
cause foreign exchanges to move in
our 'avor: The only thing which would
cause rise IN foreign exchanges would
De sales mere. not purchases. We do
no' bcllcve there is much difference IN
me rating to be given British and
canadian bonds. The former country.
nas more resources. to be sure. but
noth are safe in our opinion. We ave
@ rot sure that conditions in Franco and
'laly are growing steadily worse. Ac
cCordlng to recent statements. particu-
iariy from France. the situation an
pears to be growing better. It GER
;,ainly IS true of Belgium You should
be careful from whom YOU purchase
any security.
New-York tribune., 1920-11-07
List Shows Various Ratings

Question: will shortly have several
thousand dollar 20 inFest in stocks or
opinion "a to which aye best and the
reason "ny or tho foNowing American
Corn Products preferred Manhattan Eli
waited 7s guaranteed Philadelphia Compnny
g. United States Rubber first preferred.
United States Stool prefcrred md Vi
ginia-CaroNna chemicai preferred. c.n-
trail Railroad Of Georgia ss. Chicago =.
alton a'7s Ions Island - md seaboard
Answer-Your ,ist Of securities en-
braces issues with vnrious ratings.
The best are United States Steel pre-
ferred, Virginia Carolina Cremical pre-
ferred, United States Rubber preferred
and American Wooden preferred. These
are seasoned stocks, having long di-
vidend records. Their positions are
such that they arg not so sensitive
to changes in earnings. The Central
or Georgia s per cent bonds, secured
by collateral, are safe. in, our opinion.
because the road is a good one and
should SHOW increased earnings. Amer
lean Tobacco B is a common stock.
sensitive to Developments within the
com pany. Dividends are depch dent
upon earnings, and while the company
the common stock for investment for
this reason. The Philadelphia Com
pany is we'll managed concern, show
ing considerable progress during the
past few years. Earnings are good
What the company Will do rcga ing
the financing of its obligations in 1922
we cannot attempt TO say. That un-
certainty causes the rotcs TO sell on
= nigh income raeis. N.nha tan stock
while guaranteed By the Intcrhorough
Rapid Transit, Is not q sound invcs.
mcnt. The guaranty has ben mot .
but it has resulted in considerable"
less to the guarantor If the Inter
borough fails to live up 10 this guar
anty the lease would be broken and
the Manhattan would be operated sep
aratcly, with what success VIC do not
know. The counsel for the Inter
borough stated not long ago that if this
was done there was nothing to prevent
the Manhattan from charging A15-
cent fare. Considering these things,
the stock is, in our opinion, specula
tive. Chicago e. Alton 3i2 per cent
bonds are not we'll secured. The road
has operated with indifferent success
for several years. With better earn
ings the road should manage 20 care
for all interest, however. The Long
Island debcnture per cent are not
secured by mortgage. We regard them
as a fair bond. however. Scaboard Air
Line 6 per cent are not Of good grade
The price and yield show that Much
depends upon the operation of the
road as to the standing of this bond.
II you purchase securities which are
in such position that they are sensi-
tive to earnings you cannot expect TO
have GOOD investment issue
New-York tribune., 1920-11-07
Hugh Yield OF Utah Securities \otes

,.fs, f@uNs'ionuW You'd be pleased 70 know
"aut' wi'ar 9pu 'hink Of these bonds as an In
Vestmcnt and aecuri'v. Allied Pari,crs
'W"niy year per cont bonds duo 1883
lung +,,. "t around So; ttah secrri,iss per
''N'. due September -. 1922 anl ssuir.'
around S5-sl--J- {. J.. '''@
Answer-Jhe Allied Packers bonds
are not secured by mortgage. There
has been slump in thc profits OF ali
pacN'"g concerns We DO not regard
this issue as a HIGH class investment
At present prizes, however. they may
oher speculative investment possibili.
ties. Utah Securities Company notes
oher o1 very high yield to maturity.
to finance this obligation in 1925.
The companys earnings have not been
large, vet it has retired large amount
OF these notes in the last few wears.
For sound investment we do not rec
oInmend them, although they too may
OFFER speculative investment opportu
mites.
New-York tribune., 1920-11-07
Business Mans Investments

question: would Hike to make what is
tsEmcd business mans investment TO
me extent OF approximately 81. 600 and
nave been considering Goodrich Tire pre-
lcrr"d' Goodyear Tire preferred General
Motors per cent debentures ANA WINS
oXFr'and preferred. May ask what your
upi"lon is OF them? Also which ,could you
SlVe IN" hgnes trating IN the event you
'h'nN Favorable Of themT-D. \.
Answor-Of the stocks you mention
we regard General Motors per cent
debenture as entitled TO the best rat
ng. In each case, however, earnings
have been able TO care for preferred
dividends and leave substantial bal
ance for common dividends. These
stocks are not OF the best Investment
grade, although all are entitled TO very
fair ratings We know Of no present
reason why there should be risk in
Of them.
New-York tribune., 1920-11-07
Borden Milk's Record Good

lluestion-Wil you kindly give M Your
oDlnion as TO the adYsa bility Of Investing
IN Borden MIX Company common stocl, .
II II PAYS per cent and is now sailing at 81
" ou!u you consider this fairly con
Itent?-H J. H.
Answer Borden Company has
shown GOOD earning power for MANY
Years. 1t has good dividend record.
" nile The common stock is sensitive IN
earnings. and therefore speculative ne
believe it to De very fair Investment
for business man who keeps in touch
with aTairs.
New-York tribune., 1920-11-07
Prospects for Development
Of Tobacco Industry in Eas

1t is asserted in the columns Of The
World Salesman that the prospects for
furthcr progress and development Of
tHe leaf tobacco business in the Far
East are undoubtedly great, although
business is rather restricted at pres
mt. in Japan the entire tobacco bust
ness IS controlled and directed by the
Japanese Tobacco Monopoly Bureau
which manufacturers practically every
Kind of cigarette and cigar tobacco,
Importing quantities of American
Chinese, Manila and Turkish tobaccos
In China the British American To-
hacco Company does an enormous
business. while several other Chinese
firms arc making considerable prog
ress. In Manila. where the tobacco
BUSINESS has been large and profitable
for some time, manufacturers have
not been able to keep up with their
orders, even by the most strenuous
= ~HortS
New-York tribune., 1920-11-07
Imperial Is a Standard Oil Concern

Cucstion-Win you please Let me know
Whe|ngr Is of ,bo 'ns 1 Imperial on Ltd Of Canada
Also, please tell me whether you thinI,
we'll Of Western Union common and pre-
ierFcd, Advance Rumely preferred. south
crn Pacific Railroad. American Sugar
Carbon & Carbide preferred ana common
National Biscuit. DO you know how I can
find out when Imperial Oil. Ltd. coupons
are due = -(MissJ f.. r
Answer-The majority stock Of the
Imperial on Ltd. is owned by the
Standard Oil Company Of New Jersey
Payments are made March !. June /
September l and December /. each
year. Western Union Telegraph Com
pany has shown very good earning
power recently. The stock (there is
no prefcrred) is somewhat sensitive
to these earnings. 1t might be classed
as fair investment for a business
man. Advance Rumely preferred is
entitled to u fair rating. The stock
is not seasoned issue, but earnings
at present are good, and the preferred
issue is safe, in our opinion. Southern
PacIiic Is speculative, particularly as
there is great uncertainty regarding
the value OF the companys oil holdings
to be distributed among stockholders.
American Sugar is also speculative.
because it is highly sensitive to earn
ings. We do not recommend such
stocks for investment. National Car
bide and Carbon stock Ono preferred)
is somewhat speculative also. The
company has done very we'll, paying
g per cent on the stock. At present
prices the yield is about 10 per cent.
too high, We think, for conservative
investment National Biscuit pre-
ferred is good investment. The COM
mon is speculative.
New-York tribune., 1920-11-07
Seven Per Cent for Short Term

Question am desirous of investing
Two or three thousan nd dollars in something
that is safe. SO that I can CLIP or : Der
cent cent coupons for from five to ten years
W III you name several IN Your opinion that
are safe and all right for on. that cannNt
aHord to lose the principal? What do YOU
think OF tho ten-year per cent secured
gold ,x,n bonds OF the General Gas and Elec-
you might suggests. b. d.
Answer-We believe the following
bonds viii serve your purposes. All
are we'll secured, in our opinion. The
yields ra eapproximately per c. Mt or
more: Bethlehem Steel marine equip
ment per cent, 1885; Canadian Ma
tlonal Railways equipment per cent,
1883; Armour & Co. per cent, 1880;
Laclede Gas Light : per cent, 1929;
swift Co. per cent. 1925; Western
Electric Z per cent. 1925
New-York tribune., 1920-11-07
Shoe Machinery Preferred Safe

J., 1uestlon-Ni'l YOU kindly give lae some
~ ,piorfnatIon about United Shoe Machinery? d?
IS II a safe jnvestment?-tM Miss) A. r.
Answer-United Shoe Machinery
common stock is not, in our opinion
good issue in which to place ones
funds for investment The company
Is sound corporation, showing large
earnings, but the common stock is
sensitive to" earnings and other de-
Fclopments, thus rendering it specula
I've. You might with safety, we think.
purchase the preferred stock
New-York tribune., 1920-11-07
Republic Steel Preferred

Question-Will you kindly let me know
il. In your opinion. Republic Iron and Steel
preferred is good purchase for invest
ment? Why is it so much lower than
preferred stock of United States steel
Standard on etc? Would you recon-
mend that or st. Louis e. san francisco
bond Series As or would you suggest
something better for about 500 that I
wish to invest MISS l. J. s.
Answer-We regard Republic Iron
and Steel preferred stock as a good
investment 1t is not so seasoned as
either United States Steel preferred or
Standard Oil preferred. Prior TO the
war period the company fell behind
in its preferred dividends, but was
able to pay them all off and also to
pay a substantial amount on the com
mon stock We believe the St. Louis
San Francisco prior lien per cent
better investment, however This bond
is we'll secured on important mileage
New-York tribune., 1920-11-07
Union Carbide Prosperou.

how 20 huy mon carbide fn~ invsst|ns,,.
lt - selling around ep. Mould you acvisa
ne purchH7r ~ or" cr two hurd-ed sharrs
TOR !NNs~f Ment f-A A. +. X
Answer Union Carbide Company
las enjoyed considerable prosperity
ne compani q well managed and
growing. However. the stock is some
what speculative. because il is sens;-
tive TO earnings q the company. We
dc uot, as rude. recommend sn,,
stocks for investment purposes. for
this reason For business man ,vho
keeps in touch with affairs such a uur-
chase may be proper
New-York tribune., 1920-11-07
Burnrite Coal Stock Speculative

Question: am .onten.u;a,lrc r4ur1has-
,0t some common stoc, Of he Eurrrit.
os, Sr'qnetttne Company. Of Newark
YOU nay have r.sardtns his cur.err an.
neither IN your opinion. this would D.
o SOUND 'nFestnent.~--t /.
Answer--in our opinion the stocl, OF
tHe burnrte Coal BriQuettinr Com
pehy repre- seNts a prospect only. The
company IS in legal difficulties. After
i has met the risks and hazards OF
new enterprise and proved its earning
power II m ght be considered sound
investment. But be sure.
New-York tribune., 1920-11-07
Investment Information

Questions Of ge7erci interest to in
resfors ,riil tc dns,cered in this COZ
1mn. IN uhich case only initials eciU
be ased. Others soiU be ans,cered by
'nol. Address all Inquiries. inclos-
ing stamped. addressed cnpelope, to
tsndnc,ol Editor, The Tribune, Iss
NassaN Street, Ne,o York City.
New-York tribune., 1920-11-07
shipments of L. S. Goods
To Ecuador Suspende<i

A cablcgram from Consul General
Eoiing, Guayaquil, Ecuador. ststeNhat
local financial conditions are critical
The rate Of exchange. which is still ad.
.ancing, is at 800 now 8 sucrcS equals
81 United States currency. Shipments
Of American goods have hccn sus-
rended, and the banks arc unable TO
collect drafts for 100000.
New-York tribune., 1920-11-07
Has to. Wait for Foreign Hords

ucv French per cenl bonds a,,a Sn,,,. ,,a,.
SWISS per can't bonds These were hon,h,
through brcker and when they srri1ed
supposed 'e be cNoharged for fhe -rc,,l..
bonds SOM time or other. W.u you plNnss
advise me when sm TO exchange ,nasa
certificates iato oonds2--f, J.
Answer The broker through wnon,
you purchased your bonds viii notify
you when Inc defiuitiye cortificatos
are ready for delivery