davidaulloa/AmericanStories huggingface dataset:
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-12-19
Informal

Mrs. Frank =. johnson of Okla
homa City. the guest OF Mrs. Harry
I. Ashby. has been the recipient OF
much lovely attention the past few
days. Mrs. Johnson was guest Of
honor at Mrs. Ashby's beautiful tea
ON Wednesday. During the week,
Mrs. Lee Clinton and Mrs. John F..
Crosbie have given informal lunch
cons at the Country club iP honor
OF this natron from the capitol city
and again Mr.. and Mrs Walter
Earle Brown entertained at dinner
at their home in Maple Ridge one
evening during the week Mrs.
Johnson was an out -of-town visitor
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-12-19

breath and Mrs. Harry Hornockcr as
hos csscs. Prizes were won by Airs
i. NJ. lvcrson ana Mrs Haralsun
There were 20 tables of players
luncheon being served >aftcr the
game Assisting In the entertain
mcnt " these 80 guests were Mira
J Wesley West. Mrs. l. ". Castle.
Mrs. G, r. Caldwell, Mrs ". w
Stuckcy and Mrs. E. Forrest Hayden.
The lntcr Sc club met the past
week with MI. ana Mrs. G. u. Millrr.
scores were made by Mrs Gerald f.
Ecnedict Consolation fcll To Mr.. II.
{. Lamprich MIR and Mrs. unrold
Akin were special guests. the latter
receiving guests favor Refresh
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-12-19
(0(GfE (0(@BT |: :E:::'' I Y

chestra will play. Several special
features will be added. The hostesses
are the Misses Goldie Coy, Esther
Mullins, Dorothea Peters, Florence
Ruf. Madeline McCammeth, Ruth
Hank Louise Vanliolt, Thelmo
Mahgrum and I.udie Mackay.
Mrs Milton Roe SaSin has issued
invitations Ito 60 little ones 10 n
Christmas tree party to be held at
her home. III South Denver, Thurs
day afternoon, December 23. A
pleasing feature is that each small
guest viii take "a gift to be placed
on the tree, which will afterwards
be sent to the welfare society to
gladden. another child's Christmas. A
number Of the young set viii assist
Mrs. Sabin in serving and entertain
ing her small guests.
one OF the prominent events Of
christ mas day will be the afternoon
dance In the Kennedy restaurant
with Messrs. Franklin Ashby. Henry
brady, Cassie Holloway, Woodruff
Williams Robert Hudson, L,Icien
Locke and James Sargent as hosts
This will he attended by the popular
dancing set OF Tulsa, including the
college sea at home for Christmas
festivities.
Mrs. Lester A. Gillespie. Mrs. Cecil
Canary and Mrs. c. j. Callahan are
entertaining with large tea in the
country club. Tuesday afternoon. In
tne evening. again these hostesses
with their husbands will entertain
with a dancing party.
Tho Isis Dancing club will give an
evening party Wednesday December
~. In the National Guard armory.
Memb Der VIII enjoy n Christ mas tree
ut this time and IN general frolic
with stunts will intersperso dancing.
The Akaka Kama club an
nounces its formal dance for the
Its annual Christmas dance De-
gember 2a in Hotel Tulsa.
This is expected to be one
day for this prominent event.
The T. II. S. Novelty club has
issued three hundred invitations for
the annual Christmas dance to be
xiven by the members in Hotel
Tulsa, Thursday December 80.
Mrs. Charles 3. johnson will en-.
tertain members of the Bon TOM
Bridge club at luncheon on Tuesday
with the afternoon devoted to the
game.
Mrs. L. II. Stuart will entertain
the High Score bridge club, Monday
IN her home on North Cheyenne
avenue.
Mrs. Robert l.. Laws will entertain
whh a Christmas party on Thursday
afternoon.
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-12-19

Mrs. E. w. McCrary entertained
with "A small family dining one eve.
ming during the past week for Miss
Mary Gould Sill Ophella roses
grnccd the center OF tho tables, about
which were candles IN the same
delicate tints
The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-12-19
mcn;s were served at the card tables

Mrs. II. ], Whitstinc entertained 90
members OF botany class Of the First
Presbyterian church on Friday after
noon, Gifts were exchanged, and
during a short business session.
Si2.50 was given to charity Tor
Christmas, Refreshments we're
served
New-York tribune., 1920-09-19
His Little Lesson Cost $40

Question: cnclose an advertisement nv
Gteorg1 trn n. rerkins Co. which clipped
PIE $4o 1or six n,onthe' option on 10 600
German marks being under tho Impression
eSins hSI W. YOU'D a. receive an option certificate,
.or 1900 marks at 1875 per hundred
which Is nearly 3.75 above tho rate OF
ISchango % on IN" day bought tho option.
know to what rate OF exchange was en-
Otl"d az J am entirely ignorant In these
lrattersJ r. Il
Answer-~lt has cost you $40 to learn
that 1t IS wise TO find out what you are
buying before you pay for it. fhc ad-
vert'sement did not say at what price
the options became exercisable. 1t
stated $40 controls 10000 marks, pos
siblc, profits $1,9o5." Mr.. Perkins evi-
IDENTIFY thinks that it is possible" for
the mark to go to par in six months.
Do you think SO? We doubt if they
are worth what they are selling for
mere. lnasmuch as spectators like you
are tending to keep the price up, though
that IS only our opinion. AS a matter
Of fact, they went down after YOU spent
your $40 In our opinion the use of the
word control in the ad is grossly out
OF place. Rather the mark "controls"
your $40 for it stays below 0375, your
little bet stays with Mr.. Perkins, if
II shows signs of going over that point,
which is extremely unlikely in our
opinion, the broker places buying or
GERS on the way up so that he can fill
your demand for 10000 marks. It would
naturally be impossible for any broker
to sell you call on marks at the mar
ke: price. A cent and three quarters
over the market, however, is pretty
Stitf odds against the buyer, in our
opinion.
New-York tribune., 1920-09-19
Owns 100 Pierce Oil Common

'>H'a't"n. Nli!N riY" It" Your opinion
az i'"r" on tnrpuittI"n. al which own
100 >nar'f q: t"!ANlon stock. ,Id also ou~
LOO" E'MiHGN Gas and lu"i t I,.r con,
h"nG. ''u" l4"t. Pleas su,,l.r>t some sound
INt"' pr'i"rrod stocks O. per c"l,t ~ per
''N'''. - ruIlI !Hc to inN,at s. 900
..."r'-- ". j. =
Answer We regard Pierce OF, com
mon stock as speculative. Earnings fov
1919 were the equivalent Of 9.79 per
cent on tho common stock, par SIS.
against 1906 pcr cent for 1919 and
is" per cent for 1916. It would seem
hat earnings viii have to be better
than tnla to afford much enthusiasm
among the stockholders. The Empire
Gas and Fuel bonds appear to be safe.
Earnings arc good and although it is
an oil bond the security appears to be
ample: The following preferred stocks
are OF the best: United States Steel 7
per cent preferred, General Chemical 6
pcr cent preferred. American Tobacco 6
per cent preferred, National Biscuit :
per cent preferred and Standard Oi! 7
per cent preferred
New-York tribune., 1920-09-19
Choosing Bonds for q Woman

f-isn1 % buy the foMowinr bonds: ch4~a
peaha OHIO convertible 49,, 1850. So:
th"hapcAMe OHIO convertible : per cent.
1896. So. yield pcr c"n'; Public 1hsE
and Power Company. Of Providence. Il. l.,
t!rst n!nrtgage . per cent gold hoNds dur
February. 1915. Do not know the price or
tho latter, but HAY" been ;olh il would
yield y per cent or Vv.,C. WIZ YOU Niuhly
give ne your advice to whether these
sro good investments at tho present time
have about $500 to invest (hlrs,> NJ. a.
Answer The two issues Of Chesa-
peake & Ohio convertible bonds are
fair investments. They are not par
ticuarly we'll secured, slthough the
road is a good one and should show
better results in the future. 1t would
be best to purchase but one of these
issues, say the Az per cent, 1890, and
give consideration to the following:
Denver & Rio Grandc first per cent,
1886; Rio Grande Western first 4 per
cent, 1888; New York Telephone ~.
per cent, 1889: Illinois Steel Az per
cent, 1910; American Telephone and
Tele graph 5 per cent, l94c; St. Paul
general 4 per cent, 1883. We do not
advise the purchase OF the Public Light
and Power bonds. 1t is small issue
and has an unsatisfactory market. We
do not consider the bonds good in
restment for your purposes.
New-York tribune., 1920-09-19

.A"SWci y
,tl. { Ot.t - O.
t\t'~tlf't ~ -
uDth,,.., lU'
IN. r.,hr'.Hb'1
New-York tribune., 1920-09-19
Federal NJ. & S. Preferred

~ 'Nt1on--t have "wno,! for s"N.rAly, ars
last TN shares ut Federal Mining and
>n' .i!HS preferred stock, for which t.!l
$'' Ahar". Would You advise ~" 70 sci.
- ltrsvnt price OF continue TO mold then, p"
NlHll% give m@n your opinion OF tie future
81 ~" Fedora! Mining and Smelling ga.
NJ. II.
Answer-Fe Federal Mining and Smelt-
ing preferred stock is not good in
veStment issue, in our poinion Diyi-
dends on this stock have been irreeu-
lar. Recently the rate was made :. per
cent per annum, although earnings
only just began to show any appreci-
able increase during January, 1920. We
believe YOU could obtain a much sound.
or investment than this stock, although
ii may offer speculative investment op-
portunities.
New-York tribune., 1920-09-19
Possibilities Surrounding
St. Louis Southwestern Rv.

DEADJUSTMENT of rail
N road affairs under the
Transportation Act will prove
especially beneficial TO those
roads which heretofore were
unable TO score conspicuous
gains, but which are now
strengthened financially and
physically.
In this class, one which at
tracts attention at the pres
ent is St. Louis Southwestern
Railway, better known as
The Cotton Belt Route"
serving a great territory
which furnishes it with a
substantial freight business.
In fact, few roads enjoy a
more desirable traffic.
St. Louis Southwestern bene-
fits by an increase of IS per
cent as a result of the recent
ruling of the Interstate Com
merce Commission. Upon the
basis of its 1919 business the
freight and passenger in
crcases should approximate
S6,400,OO0.
New-York tribune., 1920-09-19
Thinks Erie Preferred an Investment

Question: am thinking OF investing in
Fr!" Railroad frst preferred stock. What
Is !our opinion OF this stoch as an invest
ln"n with speculative posAibiliti"s? |
should also l!it" to know about the real
worth OF Repog.e steel. DO YOU consider
It safe investment? G. $. lI
Answer-Erie first preferred stock is
in no wise an investment issue. 1t
may have speculative possibilities
Many people buy it on the theory that
cheapnes| recommends il. We believe
the stock is lonv way from divi-
dend. The road is not in very good
physical shape. and its credit is poor.
Reploglc Steel, one of the new COM
panies termed when business was brisk
and profitable. has been rather success
tul. The stock, however, is highly
speculative. We do not advise its pur-
chase for investment. The shares re-
Gently took slump on thc conl@any's
report of only 90 cents share earned
the first six months Of 1920.
New-York tribune., 1920-09-19
Newspaper Mans Holdings Are Good

Question Kindly advise IT. as to ,he
soundn"ss Of tn" following honds which
"'2s. 1871 Aln"rIran Trlrrnouc and T"lc-
Eiaph 'o!npAny =, ,92-. l.nion Tank car
'nited states Eubb"r =. 49,. also
wish 10 buy about s5ooo worth OF shor,
term notes or bonds maturing in ,19l or
~. Welding around I"r cent and we'll
secured anI ask your opinion t" wha;
is bHs, - bu%. Il" not car. for ra;.road
or public utilities and have a ''isti inc' l,t:
rr"nr" for I'rttish "r Canadian pvv"rniu. nj
or british proFiNr" short tiln" bonds. Are
al tlI" latter absolutely satn' an. :.
newspaper !uan. and the l4unry | ava
investing caH., hard aud cannot AFFORD
hay" bought seem shaNY "ll yVu kind
" advis" -" conr"ruirt; which onoa. and
Wal s"il the aud buy o'h"rs II :. II
Answer Your list of bonds appears
to be a good one. All arc short term
issues. To be sure, the yield on sucn
securities s greater than long term
bonds. hut IN our opinion consideration
should be given 70 permanent invest =
mentS. 1t IS question as TO whether
O: not rcIr1rstment, when such bonds
a you hold fan due. can be accom-
piiShcd on such advantageous terms as
to-day. ii YOU desire, however, q yield
Of per cent YOU will probably have
to adhere to the short term bonds
Following is q list Of bonds with thcir
respective yields. All are sound, III
our opinion. tn" prircipul and interc. =
nrr pay"pl, in New York: Province &C
Albert. u per cent. May |. 1923. Weld
Hhout : pe:' cent: Province Of Ontario
-. pcr CEN, April 10, 1922. and the :,
per cent. May ~, 1872, yield : per cent:
Province Of Saskatchewan per cent.
July |. 1923, yield per cent; Greater
Winnipeg Water District ) per cent,
July |. 1922, yield Q per cent; City Of
London jCanuda). 1'2 per cent. August
|. l322, yield per cent; Cjtv Of Mon
rcal 6 per cent. December |. 1922 yield
y nor cent
New-York tribune., 1920-09-19
Looking for High Income Return

Question: am Interested in learning
OF th" conditions " several companies
whose stock appears to offer high interc $,
Ing values. How long havo American Su.
ma'ra Tobacco and Chandler Motor stock
been paying 10 per cent interest? Has
either company issued stock dividend
recently" What arc the financial conui-
Nons Of these companies? Has the StudA
baker company issued Z pcr cent diyi-
dend sin"o tn" recent SO prr cent stoc !,
diNid"nI' What Is the laRt report ns I,
assets and liabilities. including dividends
and surpIus. also book valu" OF tn,
American Tobacco Company, as well q.
your opinion Of its possibilities OF earning
/" per cent since tho recent 10 per cent
stock dividend w. F.. V.
Answer American Sumatra To.
bacco Company has paid common divi-
dends as follows: 1910 to 1916, none
1917, 2h per cent; 1918, Sat per cent
cash and Is per cent in stock. 10 pcr
cent in cash since then. The Chandler
Motor Car Company has 100000 shares
standing and 10000 shares in the
treasury. Up to October, 1919, the
capitalization was 10000 shares. of
800 par value. Stock dividends were
paid as follows: 1916. per cent; 1917
Is per cent; 1918, II per cent; 1919
10 per cent Gall on the $10O shares
and June 10, 1920, an extra dividend
stock dividend of 33 1-3 per cent was
paid, the shares having been put on q
regular $40 yearly basis April /, 1920
1t was stated that the directors ex-
pected to maintain the $40 rate under
the one-third increase in outstanding
capitalization. The Studebaker COM
mon stock has paid as follows: 1911 to
1911, none; 1915, per cent: 1916, 10
per cent; 1917, per cent; 1918, 4 per
cent; 1919, per cent. The present
rate is per cent and an extra stock
dividend of 33 Is mot 5O) per cent,
which was paid May last. The
American Tobacco Company makes
public Its income account only once a
year, as of December 81, but the presi-
dent has said that the companys vol
umc Of business for the first six
months Of 1920 shows an increase Of
1000, 900, or more than 20 per cent.
The company has outstanding about
S89,442,0oO Of common and Glass B
common stock, following the payment
Of the 70 per cent dividen din Glass B
common stock, and on the total Junior
shares quarterly dividend of 8 per
cent has been paid in scrip bearing 3
per cent interest and convertible into
common stock March I, 1928 It. is
proposed to increase the B common
from $50,0O0,0O to $l00000, 900 to care
for the conversion Of the scrip We
cannot attempt TO predict what the
common will earn in the future. The
company is a large Garner and we'll
managed. On the old $A0.242 400 COM
mon stock the company earned for ten
years the annual a"crne% equivalent
OF over AZ per cent. For 1919 it was
al
New-York tribune., 1920-09-19
Choosing Among Foreign Issues

Question Az present narket prices
what Is YOUR opinion Of saon Motors d
spNculativ" Investment" What motor
stoCnS, If any. do YOU consider tho bes,
buys s' the present tinn"" OF tho for",gu
government and muuicip pat bonds | pre-
SUM" tho9.. OF Great Britain and France
arr the safest. OF tho bonds issued by
th' 81 two countries. which do YOU con
elder ~" b"st speculative nvestmpn =
J.. p. q
Answer We make no attempt to nd
wise regarding speculation. The Saxon
Motors Company stock is highly specu-
lative. in our opinion. 1t is a question
to whether the prosperity Of the auto
mobile trade will continue for the next
few years. The Saxon company was
not able TO enjoy much prosperity
owing TO financial troubles. We con-
slider the stock gamble. The obllga-
tions of the United Kingdom and of
Canada arc probably the safest of any
Of tn" foreign Issues. After them
come France and Belgium. For purely
investment purposes the external loans
OF these countries are the best. Fog
speculative investment purposes any
of the internal loans offer the best
possibilities. owing TO the depreciation
Of the various exchanges.
New-York tribune., 1920-09-19
Employee Asks About Pennsylvania

Question: The Pennsylvania Railroad
Company asked their employees If they
wanted to take stock. What Kind OF stur,
IS I, and what Investment would i b" for
Il work!uSuan" \ Y. q.
Answer-The Pennsylvania Railroad
has only one class Of stock 1t is $50
par value; pays 5 per cent. or $3 a
share, ror Mnnum. The road has a
long dividend record. While the stock
is not high grade investment, owing
to the uncertainty of the railroad sit
uation. yet we are inclined to the be-
lief that with the increased rates now
in effect the road should be able to
maintain IT'S present dividend. The
stock is one of the most widely distrib-
utcd issues in the world.
New-York tribune., 1920-09-19
Tyro Is Eager to Make Money Quickly

find uuc "' aa possibe I way way to- |"Snr maho ("
money can b" nndo by hard work. bu, I
also have an idea that money can be
made In big amounts only by investing.
risking. selecting dividend paying sccuri-
ties. stocks with great market possibilities
A CERTAIN part Of my income l am putting
IN different stock. bonds. not excepting;
f@r"'s" Iaa,s wn, S1sur',ss ass, r"an "h"H rr,os
accumulated interest mean? What cumu-
lattvc' | read about rights expiring ut Il
certain date. will you pleas. explain 1t to
mo? That is, suppose / buy National CIV
rights at 50. they expire october l. have l
tho right to buy with these an equal
rights bc included In tho price Of stock .
suppose thcro is no issue OF stock at all
and the rights expire at that time. what
is to become OF these rights: intend 70
buy ten Cities Service Bankers shnres n :
! 35. What Is your opinion OF them? what
Is tho lowest price they ever markctcIo ,
&C. G.. T.
Answer - You probably have been
reading an oil stock prospectus. Poor
Ricard's Almanack has more meat in it.
Flat prices are those which include the
interest which has accrued since the
last payment. Practically all bonds are
quoted "and interest,"" which means
that in addition to the PRINCIPAL
amount, the purchaser must paw the
interest accrued since the last coupon
was paid. Accumulated interest is lust
what we have described. If bond paws
coupons April and October |, a pur-
chase on September l3 would pay in
terest on the face value for five months
and thirteen days at whatever rate the
bond paid. cumulative stock is one
which IN the event Of failure 10 paw
the specified dividends, owes those divi-
dends for future payment Rights are
given stockholders to subscriber for
new stock up 10 a certain time, at
which time the rights expire. In the
case OF National City Bank the stock
holders We're given the right to sub
scribe to 90 per cent Of their holdings
at Sl26 share. If stockholdcr did
not care to subscribe he had the privi-
lcge Of selling his rights, which are TO-
day worth about sol per right. Each
share Of stock held always carries a
right. no matter what the plan may be-
In this case, f you purchased ten
rights at sol per share, you could
subscribe for six shares of stock at
Sl25 a share. Thus the total cost
would be sl,6GO, or at the rate Of
s27G.66 d share. If the privilege is
not exercised by October the rights
are vatueless. Cities Service Bankers
share are speculative. The company is
largely engaged in oil production,
which is q rather uncertain business.
We do not advise their purchase Cor
investment. They may offer speculative
possibilities. The lowest recorded
price was o3'
New-York tribune., 1920-09-19
Shaffer Oil and Cuba Cane Notes

t'n"@;l"r. Please giVn M your opinion
on tn" following convertible huuds. shat.
', '"r "'l and kr'in'ng Company : p"r cent.
uu" ~. ana y per cent. due i"-a: cuba
an" sugar : per cont. dur 1920. DO VOW
regard 'hH above sat, Investments and is
tn" CONVERSION irjV!"G" Liable to ha,.
lun,N value < =
Answer We do not regard these
bonds as prime investments. They have
merit, yet companies engaged in OF!
production and refining arc largely
speculative. in our opinion. Whereas
me 'uba Cane Sugar Company has not
yet gone through period Of business
depression, il remains to be seen how
many o! the companies formed since
1914 VIII fare during the next five or
ten WARS. On the other hand, the
earnings OF these companies may cor
tnn" 10 he good Tor some time, in
winch event there is Il vau" to the
conversion privilege. II depends large
~ unon She amount OF your principal.
II II II fairly large ID sprlnking of such
Issues a. these may be warranted IF
ii j. small we believe You would do
WEI! I" adhere to the seasoned issues.
New-York tribune., 1920-09-19
Railway Steel Spring Stocks

Question Have YOU any rer"mt i.fo-tAa-
tl"u YOU could give regarding kailwav
Steel Spring. pr"ftrr"d ard cnun,uu amt
what lajIng !"l Would attach - huth .
! now own STANDARD p,l ut E..'r jersey
lfof"'r"d, I'nt"d States Ntro. rr,l"rr,,!.
National lNsou'l pr"f"rr"l A,4.rlcuI.
Locomotive rr"ferrrd ami United states
Rubber IS pHr cent 1880 sulu hot. .---
j. :. J.
AnSwer-.Thc Railway Steel Spring
Company has paid its per cent on
the preferred since 1902 and we con-
slder 1t good investment. The divi-
dend rate on the common has been 3
per cent sine" 1918, when 50. per cent
was paid. The $l3,oOo.0O common
stock earned the equivalent of lN3s
per cent in 1918, 80 - per cent in 1871.
and 2O.l9 per cent in 1915. There was
a falling off in business arly in 1919.
and an Improvement later IN that year;
it remains to be seen how the common
stock will fare in the reconstruction
period. At the end Of 1913 the hook
value of the common stock was $l92 a
share
New-York tribune., 1920-09-19
Favors Chicago 4 Northwestern

Question: Kindly tell me what your
op.r.on ~ OF Chicago & Northwestern RAFT
road c"nnon. quoted at about - TO -
rayinE per cent. and to whether 1t is
d good buy 10 hold some time and whrther
II IS 4 we'll -nanagcd road W. II :
Answer Chicago & Northwestern is
well-managed road with long divi-
dend record. 1t Is known as Wander
bilt road, The company paid per cent
on the common stock for many years
The rate was recently reduced to per
cent. Much depends upon the opera
tioN Of the company under the new
railroad legislation. With increased
rates VIZ do rot looh for further re-
duc'ion IL the dividend rate. The
stock, however. is not "a high grade in
Nostmen, due q Tho uncertainty OF tho
situation. The preferred stock is bet
ter investment.
New-York tribune., 1920-09-19
Answer Your is, Of bonds has snmt
ItaIy's Future Uncertain

Curs'inu-K Kindly KiN" IL" iufor'na ,jon
,.hrut italian treasury notes. my broker
tolls mc that they VIII b" as good at ula
tIrl'y ItHl}tu tUrr"n'y, ~ case OF
change OF EpV'vU:lr,i. /. u
AnsWer~-Ne cannot attempt to fore
cast what will happen in Italy. AL
ready we have seen an attempt to over
throw the government.
New-York tribune., 1920-09-19
Investment Information

Questions Of general interest to in-
ccstors miU DO dnswercd in this COL
umn. im which case only initials sciu
be used. Others Wiu be amswered by
mnil Address all inquiries. inelos-
ing stamped, addressed envelope, TO
Financial Editor, The Tribune, I54
Nassa" Street, NeW York City.
New-York tribune., 1920-09-19
Has $1,000, Favors Rail Stock

1,u"s,l"n--l AnNr sl.n00 "hjrh Vjrh
:" in'ch, IN *"rl" security which v!!l brIuE
n Il good r.lurn with Lizzie rtsn OF tn.
Naiu" "t the inVestin~nt heirg seriously
~ pair, ! " hat IS %nur opinion of Cana
'iihn Pacific What is tnp pr3u.A.:
;"f'tt! az tn" cana dian guT",nr!!. Mt tDWtr,!
'hr railroads have just read YOUR
c';n'n"nta In to-day's Tribune concerning
N'st|nShnus". standard Oll and St"-l pro
trrr"d. Would thcs". IN Your opinion. h~
preferable t" Canadian Pacihc"--W. B. &
Answer We prefer seasoned pre-
terred stocks such as We have men
toned to Canadian Pacific for invest
ment purposes. The latter is a foreign
corporation and the governments at
titude toward the railroads is yet to be
determined.