davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-01-18
Ohio Cities-Continental Candy

Question-Will you kindly give me in
formation In regard to Ohio Cities Gas prop
critics controlled. and if in your opinion the
increase in preferred stock is detrimental to
the common; also on Continental Candy?
What does that company consist of and how
is its financial standing &C. o.
Answer-Ohio Cities Gas Company is
both holding and an operating cor
poration and owns majority Of the
capital stocks and controls by virtue
Of such ownership the following COM
panies: Columbus Gas and Fuel Com
pany, Federal Gas and Fuel Company,
Springfield Gas Company, Dayton Gas
Company. Columbus Drilling Company,
Mountain State Gas Company, Pure Oil
Pipe Line Company (Pennsylvania), /,
Pure Oil Pipe Line Company (Ohio),
Producers and Refners' Pipe Line Com
pany, United States Pipe Line Com
pany. The company has shown increased
earning power. For 1915 the amount
earned on the common stock was 2.30
per cent. For the year ended March
81, 1919, the earnings had jumped to
24.66 per cent. The authorized issue
Of preferred stock has been increased
intention to offer stock from time to
time, the dividend rate to be based on
the money market at the time Of issue.
It does not appear that this author
lied increase Will be made soon. The
company plans considerable In the way
Of acquisition, and tho new stock prob
ably will be offered only when payment
for some property on new development
work is to be made.
Continental Candy Corporation was
incorporated May 81, 1919. There
are 100000 shares Of no par value,
which was applied to the purchase Of
factory properties. The company leases
and an operatss plants @ in Jersey y. City and and
June 80, 1919, the net income before
deduction Of Federal income and war
excess profits taxes was $416,311, equal
to 83 cents share on the capital, or
at the annual rate Of $1.66 share.
The company has declared its initial
dividend Of Is cents share, payable
January 20, 1920.
New-York tribune., 1920-01-18
Humble Oil

Question-What information can you give
mo concerning Humble Oil and Refining
Company? Do you consider 1t eound IN
vestment7 Where is it listed ii. 8. w.
Answer-Humble Oil and Refining,
while by the nature OF its business
nevertheless apparently property Of
real merit. The company has large in
terests and is expanding. The con-
trolling interest is owned by the Stand
ard Oil Company Of New Jersey. The
stock is not listed, but brokers who
advertise Standard Oil securities in
The Tribune trade in it.
New-York tribune., 1920-01-18
Can't Give Opinion

Question-Could you please furni,h me-
some information on Stewart Mining. traded
in on tho Curb: also Cashboy. on the Curb 2
/ ! have been advised by my friend to buy
these two stocks.--B. M.
: Answer-Both Stewart Mining and
Cashboy Mining are so speculative in
regarding their purchase. The stocks
have fallen in price with the general
speculative list, and should tho market
become stronger these issues also
would possibly move up. No statements
Of earnings have been Forthcoming re-
GENTLY. so we cannot form an opinion
regarding the actual worth Of the Sc
curities.
New-York tribune., 1920-01-18
National Thrift Bonds

ouestion-Being a regular reader Of The
Tribune and being interested especially In
to ask what Il your opinion Of the Nj ationsi
Thrift bond Corporation, Of 81 Broadway.
with respect especially to the safety Of the
funds deposited by the subscribers and the
general reliability OF tho operation.-G. L. b.
Answer--The securities of the Ma
tlonal Thrift Bond Corporation offer
we believe, safe form Of investment
intended especially to meet the needs
OF persons 9! modest means. The re-
turn is small.
New-York tribune., 1920-01-18
Carrying on Marxin

ouestion-Will you please aAvfas me
through your column what . broker means
when he says he will carry you on io-pointt
to buy was 115 and wanted to buy 100
shares tor 2-point rise, selling II It reaches
H.. what deposit would he require or how
the little stock I have bought always
bought outright and owned. 80 I am not
familiar with buying On a 10-point margin,
as the broker said.-L. R. H.
Answer-Buying stock on . 10-point
margin means placing with your broker
$40 for each share Of stock purchased
for your account. The broker furnishes
the rest of the money required and
charges you interest on your debit bal
ance. All dividends and rights are
credited to your account. IF the stock
declines, say four points, you have then
only six points margin, and in all
likelihood your broker will ask for ad-
ditional margin in order that the &C.
count may be kept in good shape. The
best houses do not accept thinly mar
gined accounts. It Is neither good pol
icy for the broker nor for tho Gus
toner. Some houses will take an &C
count with q small margin, provided a
stop-loss order Is placed Immediately
the stock Is purchased. II you gave q
UHoAo1 $4VV anu tOIu O1Iu TO purchase
ono hundred shares Of stock at 116, and
after the purchaser placed stop-loss
order to sell at 113, he might accept the
account. But we doubt II this policy is
general. Most brokers consider the
stock to be traded in. General Motors,
stock Of wide movements, would Of
necessity require moro margin than
Erie common. II you play the market
on 10-point margin you arc gambling
for fair.
New-York tribune., 1920-01-18
Associated Pharmacists

Question-Can you give me any informa~
ton regarding the liabilities Of the Asso-
slider It safe to invest in $3.50 worth Of their
stock? Will appreciate any advice you can
give me In this matter.-J. L. Mac.
Answer-We do not recommend the
stock of the Associated Pharmacists,
Inc. as an investment.
New-York tribune., 1920-01-18
Definite Information Lacking

Question-Will you kindly tell mo. through
your financial column. what you think Of
Continental Refining? have 400 shares and
have not seen any Of 1t sold on the curb in
some time.-C. 8. M.
Answer-No recent statement Of the
operations and earnings Of the CONT
mental Refining Company appears to be
available. The last dividend Of which
We have record was per cent, paid
May 15 last In the absence Of definite
information, We would not undertake
to express an opinion on the stock.
New-York tribune., 1920-01-18
Kerr Lake

Question-l hold shares Of Kerr Lake Min
ing. Would you advise mo to sell at the
present price or do you think it safe to
wait? Is there any prospect Of tho shares
being higher in price?-A V. H.
Answer-Kerf Lake is so speculative
attempt to forecast its movements in
the stock market. The company has
curities Of this character may, per-
eral market becomes stronger all Sc
fair prospects, apparently. If the gen
'sleAel 1eQ1!q o. H1oA 4!s3s 'sdsp
New-York tribune., 1920-01-18
Webster Coal, and Coke

ouestion-Through q legacy shall short
and Coke Company per cent consolidated
drst mortgage gold tax free bonds, $1,000
each. Date Of issue. March J.. 1902 Ma
turity March i, 1s42. Within = month they
were quoted 1T 50 70 80. have an idea
Of selling them and purchasing Victory
Bonds (Ffth Loan). do not mind some
loss now, but wish 70 Be sure ultimately.
Should sell them or are they as safe %
anything short Of government bonds =
Answer-webster Coal and Coke s
to . good investment rating: Of
course, Victory bonds are better, but
It is = question whether it would be
wise at present to make the change.
The yield Is good and the bonds are
apparently well secured.
New-York tribune., 1920-01-18
Equipment Trusts

G4oAPnAVuS Axubt0
Question-I have 81, 900 In the savinss bank
that will yield the highest income consistent
with safety. I have been reading tho Anan-
cial advertisins, but among so many offer
is small, do not want to put all my eggs
In one basket, and would prefer the fund
divided into ave bonds Of $1,000 each.
would also prefer short-term sscurities--
that Is. Eve to ten years uaturities. Can
you suggest something good and safef
cannot afford to take any chances may
never have another 5000: have been a
long time saving this.-L B.
Answer-You state that you have
been long time saving your $4,000.
l You must, then. not become too eager
to obtain large return on the money
Invested, for, generally speaking, the
, higher the interest return the greater
the risk involved. II you prefer short
term securities, We give you a list Of
notes Of successful corporations-those
whose managements have been con-
servative. One Of tho best forms Of
short-term investments is equipment
trusts. When railroads purchase equip
mont, cars and locomotives, they fre-
quently Issue equipment trust notes
against this equipment. The notes usu-
ally mature serially. half yearly or
yearly. They usually are issued for
@sbu ~ 10 ~ pSI CcuL Oh Ln0 cost
cf the equipment A sinking fund is
established each year. and tho notes
outstanding remain hrst lien against
The entire equipment. Many people be-
lieye this form Of investment to be bet
ter than first mortgage bonds, for OBJ
viously = railroad cannot operate with
out its equipment. We think we arc
correct in stating that there has been
only one instance in this country where
a default has occurred on such obliga-
tions, and in this case tho trustees
finally sold the equipment and the note
holders were paid in full, with interest
to date. Naturally, the stronger the
road the better the note. New York
Central ~ per cent equipments. due
from 1922 to 1882, yield 6.86 per cent;
Michigan Central N per cent equip
ments. due from 1922 to 1880, yield
B.S6 per cent; Cleveland, Cincinnati,
Chicago 4 st. Louis equipments, duo
3rom 1924 TO 1927: yield 5.85 per cent.
There are others, Of course, and any
reliable broker will be glad to give you
all the information you desire. Other
short~term Investments are: Proctor 4
Gamble 2 per cent, 1923, To yield about
E.eb per cent; American Tobacco per
cent, 1929, 10 yield about 6.2o per cent;
Canadian Pacific 9 per cent, 1924, 10
yield about 6.45 per cent. And last, but
BY no means least, are the Liberty
~ per cent, due 1928. These bonds
yield over AZ per cent. Perhaps some
day they will sell considerably higher.
They Certainly do not require the
tatehjne wsieh other sscuritiaf,Ao.
New-York tribune., 1920-01-18
Just a Speculation

ouesticn-I hold some stock Ia the Okla
homa Producing and Refining Company and
received letter from the board Of directors
that . meeting will be held on January 2e
TO vote on dissolvins the company. Stock
holders Of tho Oklahoma Producing and Re-
hning Company can expect to receive per
share about $3.50 IN cash and about one
and one-fourth shares Of the common stock
Of Oklahoma Producing and Refining Cor
por.tion Of America. Application viii b
Stock Exchange. would like to have your
opinion on whether to sell my stock now
accept the offer.-W. G.
Answer-It would appear that the
plan Of the Oklahoma Producing and
Refining Company would not place the
stock OF the new company in any dif-
ferent position than 1t is at present.
The stock is q speculation now. and
the new stock would be a speculation
also. II you feel that the speculative
market shows promises Of strength 1t
would be we'll to go into the new plan.
Otherwise II would be better to cash
In now.
New-York tribune., 1920-01-18
Mexico OIL Corporation

Question: would appreciate any possible
infovmation concerning organization and
management Of tho Mexico OH Corporation
a. advertised In your financial pages. Would
you consider It moderately or highly. specu-
lative and what Of the integrity Of the syn
dicAts underwritars 7-R. w. b.
Answer-The facts concerning the
properties behind the Mexico Oil Cor
poration stock are stated in the pros
pectus without any attempt at embel-
lishment or exaggeration. Nor are any
extravagant claims made regarding
prospective earnings. While the stock,
In our opinion, Is speculative, it enjoys
the advantage Of being promoted in a
way to indicate that the company is in
the hands Of conservative men.
New-York tribune., 1920-01-18
Too Tame for Him

Quastion-Would appreciate your opinion
on my holdings Of the following bonds,
which were purchased some time ,agof They
seem to stay around my purchase price,
Continental Candy, Buddy Buds, Skelly OH,
Cities Service " bonds, McNamara Mine.
Would you continue TO hold these or sell and
invest IN some real live stock ii. q.
Answer-You speak Of these holdings
az bonds. They are stocks. Bonds rep
resent mortgages, usually. Stocks rep
resent ownership. All tho stocks you
own arc speculative. If you mean by
live stocks those Offering moro specula-
ton, We should say we know OF none.
We do not know what the course Of
stocks will be in the market. No ono
does. When you purchase such securi-
ties as these you are speculating. We
do not advise regarding speculation.
New-York tribune., 1920-01-18
London Money Market

LONDON, Jan. 17.-Bar gold. Ills
Sd. Money, 3,s per cent. Discount
rates, short bills, 51s per cent; three
months bills, SIS per cent.
New-York tribune., 1920-01-18
Armour Preferred

ouestion-As . holdar Of Armour pro
fefred. which acquired through tho con-
version Of the per cent notes. would you
advise me 70 sen this stock and invest in
some other preferred stock k7-J. II.
Answer-The Armour Company ID q
we'll managed concern. We do not see
any particular object in selling the
stock In order to purchase another In
dustrial preferred issue.
Some Good Investments
Question-Would like to know what bonds
yielding s per cent interest you would con-
slider safe Investment, dependable. easily
converted into cash II required, not causing
worry and anxiety on the part Of the
owner-A. r.
Answer-Ths following bonds are
good investments at present. All yield
about per cent: Chesapeake & Ohio
general AIS; New York Dock Com
pany 1st As; Illinois Steel Avs; Vir-
ginia Iron, Coal and Coke 1st IS; New
York Central Equipment AIS; Michi-
gan Central Equipment 4hs; Atchison
adjustment 4s. But you must keep
watch on events at all times. Condi-
tions change, and whore security is
safe to-day 1t may not be so in another
year.
New-York tribune., 1920-01-18
Some Cood Investments
Cash w. Drafts

Qusstion-1n buying foreign currency il It
etc.. Is sood3 What is the difference be-
tween checks" and cables" in foreign ex-
change quotations III. e. M.
Answer - Many transactions take
place here in actual currency (mostly
paper) Of foreign nations. To purchase
the actual currency costs more than
to purchase drafts. The purchase Of q
draft simply establishes a credit in the
bank upon which the draft is drawn.
Foreign exchange checks establish the
credit when the check is presented at
the bank. Cables establish the credit
Immediately (by cable).
New-York tribune., 1920-01-18

is not speculative In the same degree ~
that Of companies engaged exclusively
in production, although it may lack the
stability Vt prime investment.
New-York tribune., 1920-01-18
National Tin Corporation

NStb0nol lin corporation
ousstton-Kindly give me whsteverl In
1os%ssaon noras,sn y1u h.vs ~ on Nsecnal Tin Cor;
lnveetnaent! L L l6tsd on tSs market - -
O. NJ.
Answer-Natienal Tin stock, par
value 80 cents. l. now selling on the
curb around 30 . share. The COM
pany, which was organised In March,
1919, With a capital Of $1,000 900, has
leased 4or twenty years, with the priv
ilege Of twenty-year renewal, ali the
properties Of the American Tin and
Tungsten Company, the latter to re-
ceive 25 per cent Of the net profits
from operations. These properties
consist Of the mines, mill and smelter
located at Hill City, s. D. Other hold
ings in the same tin-bearing mineral
belt have been leased. The company
claims to have developed q process by
which tungsten and other products can
be separated from tin ore on q profit
able basis. Owing to tho lack Of coal
it's operations are not yet we'll under
way. The stock, therefore, can be re-
garded only ~ a speculation, and 1t
would seem to be selling at price
which discounts a good deal in the
way Of possibilities.
New-York tribune., 1920-01-18
Livestock. Meats. Provisions

AIVeHtOCks Meot9s tTOv1SIOu8
Yesterday. Year age
Live steers. fair
to primo 100
lbs ..... .$12eb@leoo t1sooNisce
Dressed boot
sides. b.. ITO "a .1s0 81
Live veals. COM
mon to prime,
100 lbs. 1e.oo@a4cc ikoe9scos
Dressed veal.
city. lb........ .ss@ SIS .a.o 80
Live ewes, 100
lbs. .......... 7oo@lo.so eoc8 $50
Dressed mutton.
city. lh...... .l2@ rs .l<0 IL
Dressed lambA
city. ib....... $50 az $40 -
HoGA 100 ibs.. l5.760ie.26 l7.6o6Is.oe
Live lambA fair
20 prime, 100
lbs .....,... 1900 q 1850 lk0o@leee
Dressed hoge
bacon. 10 ... a2% wasN stN@.aAr
Meas bcef Dbl. :. 1s.0odle.oe sbce9sSoo
.a<.ao@s4.sc 2t.oo@al,s
Mess pork. bbi.. $500 &tS.So So.ooo -----'
New-York tribune., 1920-01-18
U. s. Steamship

Question: got 100 shares Of Upited
States Steamship. for which paid So
share. They sell now about $3.76 share.
Would you advise to sell it or stick on to It
II lose that money will not have much
left for myself.-J. r.
Answer-If you are not In position
to lose more than you already have
do you not think it would be better to
cash in and charge the loss up to OK
perience? The stock Is q pure specula-
ton. We cannot tell what its course
in the stock market will be.
New-York tribune., 1920-01-18
Big Four

ton. We cannot tell what its course
in the stock market will be.
Big Four
Question: have 300 shares Of the COM
mon stock Of the c., c. & St. L. Railroad
Company which bought rs . semispecu-
lation two years ago at much lower than
present prices. It has had such remark
able earnings the last two years that it
hold as an investment. Will you please
give me your opinion Of the common stock
and whether you would advise keeping 1t
as a speculative investnentS You appear z
very good Judge Of these matters, and
would value your opinion. Can you give
Guiding November? This road and Michigan
Central seem to have banner" earnings in
q poor period.-J. S. B.
Answer-The government has oper-
ated the railroads in its own way.
There has been diversion Of traffic and
other elements have entered into the
matter. When the roads are returned
to their owners it may be that some of
the roads which have shown ability to
earn more than the government guar
antee will find that operation under
private ownership is different matter
We only offer this as a suggestion
.Big Four' r viii show s, decreased "s earn. m
ings, but It is a possibility.
For the ten months Of 1919 this road
showed net operating income Of s12,-
269,790. The guarantee Is $8,288, ,12(
for this period. The stock appears tc
offer good speculative possibilities. II
tho RAILROAD legislation is really con-
structive, however, we do not think this
road should suffer by any means.
New-York tribune., 1920-01-18
Too Speculative

ouestion-I have been reading tho Invest
uent Information. see q question asked and
answered on American Zinc. have little
was something that would pay better Would
you be so kind a. to tell me how to go
about It. a would be very grateful to you?
r. r.
AnswerWs do not~recommend that
you. withdraw funds from q savings
bank and buy such speculative stock
as American Zinc. The stock may
you should conAne your purchases to
higher grade securities, preferably
Liberty bonds, though if you must have
larger yield, some good preferred
stock such as United States Steel pre-
ferred, or Central Leather preferred,
would meet your want.
New-York tribune., 1920-01-18
Prospects


oundeo-win you be good enough to
and National Conduit and Gable, n epccu-
lative investments at present market prices,
which think about 1917 for the former
and I'M for the latter? Don't you think
both Of these stocks are pretty sure to 20
up at least five or ten points before they
sse?-R. <. s. ~ '''s'' "'e'-
Answer-Both Jewel Tea and Ma
tional Conduit and Cable are what
might be termed prospects. Both com
pantes lost considerable money last
year. On the prospect that their fu-
lures are brighter than their pasts.
they might be good speculation. but
certainly not investments.
Cosden & Co.
Qnesticn--Plesse give ms your opinion Of
the stock of Cosdsn 4 Co (oiI. Of which
! own some. The last two quarterly divi-
dends have been at the rsta OF 10 per cent.
with ~ per cent stock diyidend.---J. g. G.
Answer-Bshind the dividends beinr
paid BY Cosden 4 Co. is = well-organized
concern with large earning power. A
large part OF its income is derived from
refining. tts plant at Tulsa, Okla, being
ono OF the largest in the world. with
$4,000 barrels daily capacity. It's own
production Of oil 10 estimated between
IL 200 and $4,000 barrels day. and net
earnings for 1919 are estimated at about
80, 100000. 1nAsmuch as the company's
operations cover every department of
the oil business, from crude production
- msrkstins. the stock, in our opinion,
New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1920-08-07
PANAMA CANAL COLLECTS
$8,8OO,0O0, YEAR RECORD.

Washington, Aug. 4.-Com1net-
mercial traffic through the Pan
anna canal set new record III the
fiscal year ending June 30 last
according to official reports re-
ceived here. a total Of 247S com
mercial craft, with an aggregate
tonnage of S,545,0OO made the
transit, paying more than $780,
600 in toll and other charges. All
expenses of operation and main
tenance will not exceed So, 900, 600,
the report said, indicating a sur
plus of $2,150,000. This is nearly
five times the previous record sur
plus.
The report explained, however,
that the canal could not be said to
have made a "proht', since no
consideration had been taken of
interest charges on investment nor
of depreciation Of plant and
equipment.
New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1920-08-07
POLAND MAKES DESPERATE
STAND AS BRITISH AND
FRENCH FORCES
MOBOLIZE.

A London cable states The
Evening News learns that the gov
eminent today considered the Pol
ish situation and that Large
quantities of war material are to
be sent Immediately in concert
with France. "
"There is no intention on the
part of the allies" the news
paper adds, "'to depart in the
slightest degree from their posi-
ton regarding Poland. The Brit
ish government may have to call
for volunteers within the next
few days Ito aid in the preserva-
ton Of the Versailles treaty.. 1t
would be possible for the war of
flee to send four divisions within
the next few weeks, two divisions
Immediately. Steps are being tax
en- to mobilize the navy, but the
cabinet has not yet definitely de-
cided."
New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1920-08-07

the United States, who conferred
today with Under Secretary Of
State Davis.
Paris, Aug. ). CBy A. P.)-Pol-
ish circles in Paris claim the adj
vance Of the northern Red army
is becoming slower and that the
resistance Of the Poles is more
stubborn. They declare Polish
forces still are holding Ostrolcnka,
- miles southwest Of LOmza, and
say the WarsaW-DanSiZ railroad Is
in no immediate danger.
The BoISheviki are being held
By the Poles at BreSt-Litovsk, and
have suffered a loss Of 500 killed
and drowned. There is repeated
attemtS to throw their forces
across the Bug river, according tc
| Wednesdays communiquc from
Warsaw, which officially confirms
facts previously announced.
The communique announces that
the Reds have forced the river
| NareW.