davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-02-29
Interest Earned and Paid

Question-Will you be good enough TO
give me your opinion Of the status Of St.
Louis & San Francisco income SIS? There
seem to be very optimistic predictions con
corning this roads possibilities under the
new railroad bill. l would like to know what
is ahead of these bonds and whether the
road has been earning and paying the in
tercst them.--H. F. P
Answer-The St. Louis & San Fran
cisco Railroad earned and paid the in
terest on the income per cent bonds
In 1919. The road was one Of the few
which WAS able to earn more than the
amount Of the government guaranty.
interest on the income bonds is payable
October each year out Of the avail
able net income for the fiscal year
ended June 30, after payment of the
cumulative adjustment per cent bonds
and is not cumulative. Prior liens
amount to s171,32s,31s. 1t remains to
be seen how this and other roads will
manage under the new legislation.
While the bonds are by no means high
grade, they appear to offer good specu-
lative possibilities.
New-York tribune., 1920-02-29
Southern Phosphate

Question--Will you kindly give me all
available information along with your opin-
ion on the Southern Phosphate Company, a
Delaware corporation. 1919 This stock is
being put out by the Hayden, Stone Com
pany.-F. r. S.
Answer-The Southern Phosphate
Corporation is st!ll In tho form ative
stage, having been organized to acquire,
develop and work phosphate rock de-
poslts. This substance is used princi-
pally in the manufacture of fertilizer
The corporation has contracted to pur-
chase, for cash, properties in Polk
County, Fla, where some Of the largest
known deposits Of high grade phos-
phate rock occur It also expects to
acquire control Of the Export Phos-
phate Company by issuing it's stock in
exchange for outstanding securities of
that company. This would give It a
fully equipped plant wish capacity Of
about $4,000 tons a year. BY the sale
Of 1886 shares for cash it is expec ted
ample funds will be secured to pur-
chase the properties Of the Lakeland
Phosphate Company and the Standard
Phosphate Company. IN Polk County,
and also to provide about s650,000 Of
working capital. The plan for ex-
changing stock for the Export Phos-
phate Company calls for the issuance
of 25,304 additional shares The total
authorized capital Is 800, 900 shares, of
no par value. Tho stock is being sold
at S26 a share. What the earnings Of
the company will be when 1t gets onto
an operating basis remains to DO dem
nnstrated,
New-York tribune., 1920-02-29
Worthington Pump Cnmnanx

=, Question-We write to inquire regarding
the stock Of the Worthington Pump Com
pany, about which much has appeared Of
late. Has the stock been a dividend payer
in the past. and what were the dividends
paid during 1918; also, earnings on common
stock efter deduction for preferred stock -
II. 8. M.
Answer-The worthington Pump and
Machinery Company, successor to the
International Steam Pump Company,
which went into receivership late In
1918, has been very successful. The
capital consists of $5,592, 1893 Of 7 per
cent cumulative preferred stock, sio.-
321,67 Of per cent cumulative (after
April, 1919 preferred stock and $12,-
992,149 common stock. Dividends on
the two preferred issues amount to
S1,010, 1893 per annum. No dividends
have been paid on the common stock.
The surplus after preferred dividends
in 1918 was s2,589,20S. There was
charged of some sl,73O,0oO, leaving a
final surplus Of sS59,612. Total sur
plus on December 81, 1918, was $685.
472. The report for 1919 has not yet
been published, but unofficial reports
state that the company will show some
$40 to $50 earned on the common issue.
New-York tribune., 1920-02-29

An increase in the pickup" service
OF the express company may be looked
for within a few days, according 70 a
special bulletin which will be sent out
tomorrow by the Associated Dress In
dustries Of America. The express and
transportation bureau Of the dress
manufacturers organization has been
advised by the express company that
efforts Will be made to increase the
service given the local cutting-up trade.
During the last month many apparel
manufacturers have had to engage
private trucks to take their shipments
TO express stations because Of the
deficiencies Of the pickup" service.
New-York tribune., 1920-02-29
Good Intentions

Vucstton~-My husband and are we'll along
IN years. siSty-thrce and nfty eight, and are
comfortably fixed as TO home and income
but should like, to increase our capital so
there will be a little more to divide When
we dc. Would II be all right to buy a few
on stocks to hold for II rise? Philadelphja
company or Tropical Oil. or what could VIC
about $4,000 th. yesr 'pf"u should HSe Se 20 ons by
more explicit about our present holdings
out do not want list printed nor name
only initial.--L.
answer Buying oil stocks for a rise.
we fear. would defeat Your good inten
lions. Every day VIC receive letters
from disappointed heirs who have in
her'ted oil and mining stocks which
al's1 an exhaustive search are found
20 be nearly it not entirely worthless.
some OF the companies listed in mort
gage catalogues seemed to have bright
enough prospects IN the beginning, but
even as these faded, so will the future
dim, if it does not entirely nut an end
to the brilliant careers pictured for
many of the oil companies being un-
,9aued on the investing public to-day
we 90 not mean to include the two
companies you mention in this class,
as both are legitimate enterprises, but
such stocks are. in our opinion. too
speculative for you to buy. What we
wish to convey with as much emphasis
as possible is the fact that danger lies
IN departing from the rather we'll de-
ilned paths the investor should follow.
Inc plausible arguments and the allur-
ing promises of the stock salesman, we
admit, are often hard to resist, but you
and your husband, comfortably cir
cumstanced as you are, should turn q
deaf ear to such siren calls. As YOU
probably know, some of the things said
by persons who inherit large sheaf
OF stock certificates good for no other
purpose on this earth than to line a
trunk with are likely to make one turn
over In the grave.
New-York tribune., 1920-02-29
Let Well Enough Alone

Question: have something over $1,000
coming due from insurance policy December
next. Would you advise borrowing on it
Cat 8 per cent? and buying American To-
bacco or United States Rubber because Of
the conditions OF the ,narkct3 Or, In your
Judgment. should wait until December and
invest at that time? In case you advise bor-
rowing and investing, are there any other
Investments. you would advise buying? I
have something over $4,000 due March 2.
1921. also. Would you advise doing any
thing ewith itT 1T is only the condition of
the market that leads me to make any in
ouiry. because ! know nothing about such
things.--G. L. r.
Answer-You assume that the condi-
ton of the market is such that it is
tino to buy securities. Perhaps it is,
but we certainly advise strongly
against borrowing money OH your poll
cies for the purpose of purchasing
such speculative securities as American
Tobacco and United States Rubber
common shares. If you believe there
are good opportunities at present for
investment of funds, which will not be
present next December. you could, Of
course, arrange to buy some we'll sea-
soned bonds or preferred stocks, but
our advice would be to let we'll enough
alone.
New-York tribune., 1920-02-29
Well Provided for Old Arc

Que.tion--What would you think Of til.
following list Of holdingS-seeuritics held by
echool teacher, who has nothing else be-
tween her and old age In The poorhouso7 l,
there any great cause for alarm? Securities
were nearly all purchased before the war.
Bonds-Amertcan Telephone and TELEGRAPH
8 per Cents, United Light and Railway de-.
benture s per cents. Chesapeake q Ohio
convertible per cent?. United States Steel
sinking fund per cents. Stocks-Amer.
can Telephone and Telegraph. American Gas
and ELECTRIC preferred: Great Northern pre-
ferred Pennsylvania Railroad. Southern Pa.
cifo Railroad. Lchigh Valley Railroad, 10
high Coal. Reading first preferred. United
States Steel prcferred.-E. A. c. R.
Answer-Your list Of investments,
taken as whole, is a good one. There
are perhaps too many railroad securi-
ties, but those you hold are among the
best. We do not see any cause for you
to become alarmed at the present time.
Keep in touch with affairs and watch
your investments carefully at all times.
New-York tribune., 1920-02-29
Stocks on Curb =
Display Fir'imness
In Dull Session
International Petroleum Ad.
vances to New High for
Movement; White Oil
Completes Pipe Line

1t was rather quiet session on the
Curb yesterday, with few important
price changes. AS whole, tho list
acted we'll and closed generally firm.
some Of the oils developed tone of
pronounced strength.
Tho strongest spot in the oil depart
ment was international Petroleum,
which. following its advance earlier in
the week, moved from 63h to 81 on
dealings OF $500 shares. Gilliland Oil
sold at 40 and closed At 80. Simms
Petroleum was firm.
White Petroleum eased OF a point,
after selling up to 80. Announcement t
was made Of the completion Of the
company's six-inch pipe line from its
oakes lease in the Homer pool to the
tank farm at Minden, La. This line is
equipped with field pumping station
and has begun running oil under high
day. Six Of the company's $4,000
barrel tanks at Minden have been com
plcted
The shares of the oil companies
operating in the Wyoming fields, which
are expected to benefit from the leas
ing bill just approved by the Presi-
dent, were quiet. Salt Greek producers
sold Off after early strength Under
the law mineral lands thrown open to
the prospectors include 100000 acres
OF possible oil lands, 40,000,o00 acres
of coal lands and 2,6oO,00o acres of
phosphate lands.
General Motors new stock was the
most active issue Of tho industrs.I
group, closing At 24A, after sell!ue At
20. q. General Asphalt was steady around
New-York tribune., 1920-02-29
Not Much Risk Appparnt

QuestionWil you kindly let ME know
your opinion of investing $1,000 in the I'M
pcrial japanese government Az per cent
sterling loan tirst series). due February 10.
60 do you consider these bonds sound in
vestment HI p. Fl.
Answer-We know Of no reason why
tho Japanese AZ per cent bonds will
not be paid at maturity. There is al
ways an element of risk in purchasing
foreign bonds, but in this case We do
rot think 1t amounts to much. The
present low prices are caused largely
by considerable selling for European
account, In order to take advantage Of
the exchange situation.
New-York tribune., 1920-02-29
observation-disclosures Packing

Question Kindly let me know what YOU
think of bu~ing Inspiration Copper and Cali
forna P,1xing Company to keep for an in.
come have q few thousand with which
expcct to buy these two.-S r. NJ.
Answer-Neither Inspiration no,
California Packing stocks are invest
ment securities. Both may be attract
i've from an income standpoint, but
neither Is sure Of its dividend You
should limit your investments to Sc.
curities whose earning power is more
stable. such as good bonds and high
grade preferred stocks.
New-York tribune., 1920-02-29
Profitable Bonda for Ranks

Question-Of United States government
bonds na, Why why do pre-vsr issues paying only
chased 5000 francs (Freneh). Would You YOU
anvise purchasing French bonds with them
internal. and il So, which ones7 At what
prices are French linternaD bonds selling
and where can one set quotations on them
Are German bonds selling se such q premium
that security dcaiers in this country are war
ranted In asking $14 per 1000-mark bond
l,ooo marks7 Or are the dealers making a
We very large prof'tT l have purchased 10000
German ;S marks. Would you advise purchas-
other IS. W.
Answer--United States government 2
per cent and 3 per cent bonds sell at
such high prices because thev are the
means Of securing circulation bv ma
tional banks. A national bank NAV de-
posit these bonds with the Comptroller
of the Currency and issue against them
an equal par amount Of national bank
notes. 1t is, Of course, profitable for
tho banks, but not very profitable for
any one else to purchase them. We be-
lieve French bonds offer better oppor-
tunities for investment D. ooses than
the purchase Of tho currer = There Is
no particular issue which we advise,
although the new issue about to be
fioated, which pays off tho principal at
$50 per cent, offers unusual opportuni-
ties. We assume that dealers in Ger
man bonds are warranted in asking any
price they can obtain for their wares.
No doubt they make good profit. We
do not advise the purchase Of either
German marks or German bonds, for
the reason that too much uncertainty
enshrouds the whole situation in that
country.
New-York tribune., 1920-02-29
Poorly Advised

Question: have about $4,000 to invest
and was adysed to buy Divide Extension
as know absolutely nothing about these
companies I am asking your advise Mrs.
A. K
Answe>We advise strongly against
your investing your $4,000 in the
stocks you name. All are highly
speculative and are not to be consid-
cred as investments at all. If YOU
really wish to invest your funds for
purposes Of income, you should only
ing power is ample to maintain divi-
dends or interest and whose record OF
earnings has been good over long
period.
New-York tribune., 1920-02-29
Belgian Loan

ouestion-The Guarantee Trust Company
advertises sale OF Belgian government 5 per
cent internal premium loan In The Tribune
Do you consider purchase OF above bonds An
Investment or speculation Is the pxoba-
bility of an advance In exchange the only
element IN their favor and is this not Offset
by the length bonds have to run and tho
probable difficulty Of their disposal? Are there
any other issues Of Belgian government bonds
having the redemption at 150 per cent par
feature and selling below par? Does the 9
per cent bond mean that there Is an actual
Yield Of about two and three-ffths times 8
per cent exchange being 1850 TO the dol
lar), or is this lost in tho process Of ex-
change. and is the actual yield only per
cent til. G..
Answer-1t becomes more and more
difficult these days to difYerentiatc be-
tween investment and speculation.
Speculation embodies large amount
OF uncertainty. investment a minimum
amount Of hazard. Belgian bonds a
year ago were more speculative than
they are to-day. Why? Because the
Belgian people are to-day Coming
back" strong. Production in that coun-
try is already at over rs per cent Of
pre-var times. We should class the
bonds as an investment with specula-
tive possibilities on account of the ex-
change feature. We look to Belgium
to become stronger. That Is another
eleiheHV W pe consluereO. II she does
become stronger her bonds will natu-
rally be more in demand. This is the
only issue Of Belgian bonds embody-
ing the 150 per cent par feature. 1t is
not possible to figure the yield for for
eign purchasers. Coupons, If cashed
regularly, are subject to payments in
conformity with exchange. There is no
telling when ones bond may be drawn
for payment. The only way to figure
would be on the basis of q purchase
price Of $40 for 900 francs. At IA
francs FOR 81 the return would be
slightly in excess Of per cent per
annum. In the event of an advance in
the price of exchange to- say, ~ francs
for 81, the yield would be almost 6
per cent per annum, and SO on.
New-York tribune., 1920-02-29
Seeking q Way Out

Question--f have bought on margin the
following stocks and would appreciate your
as little loss as possible and to the value
OF same Fifty shares United States Indus
trial Alcohol, l06ts 80 shares Republic
Iron and Stee 1854 40 shares Fisk Tire
Steel 1o5?4; 20 shares Southern Pacific.
100as? If these stocks are all strong
enough to regain their present loss l could
arrange to make loan at tho bank and
could not afford to seep mors than SO 900
or $40 900 worth with present loss. ! have
thought Of buying outright Fisk Tire and
Industrial Alcohol and holding Republic Iron
and Steel, IS they show greatest loss.--
E. g. P.
Answer-To assist you it would be
necessary !or US to be gifted with the
power Of dvination. This We do not
possess, therefore would not attempt to
foretell what group Of stocks as spec
ulatlye as hose you have purchased
will do sixty days, three months or a
year hence. The stock market has been
under pressure of liquidating sales for
some time, and when this selling re-
lakes a turn for the better in prices
might reasonably be expected. Mean
time, with money rates high and the
Federal Reserve banks restricting
credits, foreign exchange demoralized
anu oAPort business steadily taIllng on
owing to disturbed conditions abroad
prices for stocks may 60 to still lower
levels. The earnings Of q good many
companies already suffer by comparison
with those made in the days of war or
ders and war profits. Republic Iron
and Steel, for instance, did not earn its
per cent dividend for 1919. compared
with more than 22 per cent earned in
1918. Developm ents such as these must
be reckoned with when one speculates.
Whether your loss would be any less,
or greater, if you got out of the mar
ket entirely now than if you held on
we do not pretend to say, but If you
stopped speculating you would prob
any be less likely to lose sleep and
better off in the lone run.
New-York tribune., 1920-02-29

Improvement during the last year, bu.
as the principal sources of its income
are ar, England and the British colonies
the payment Of dividends will not be
resumed, in all probability, until ster-
l'f'g exchange rates return to more
normal level. But for the great depre.
c'ation in foreign currencies the com
pany, so we arc informed, would have
neeh able to pay at least a Q per cent
uIvldend on preferred stock some time
1n's year. The net profits Of the com
pamy ta,y Tor the fiscal year ended April 30
,oa'' Ky we're Sb4,Sl6, compared with $l4,-
i-o tne preceding twelve months. There
Is not very active market for thc
shares. and the value of either the nre.
1erred or common at the present time
would be matter of negotiation.
New-York tribune., 1920-02-29
Exchange Rates Affect Dividends

Question--Wil you please give me some
information relative to the stock of the
International Educational Publishing Com
pany? This company is q subsidiary Of the
International Correspondence Schools. of
Scranton. Pa, and handles a part at least
of the foreign business. What is the mar
Net value of the preferred stock and com
mon stock at the present time! There has
been no dividend paid since the war started.
IL the company making its running ex-
penses? Do you think this stock will ever
reach par (s5o for preferred stock again 7
$. H. B.
Answer-The business of this COM
pany, according to officials, has shown
New-York tribune., 1920-02-29
United Profit Sharing Dividend

Question: bought on October 81. 1919.
and November %, 1919, 100 shares each on
both these dates United Profit Sharing
stock Can you tell me if any dividend or
extra dividend were declared after tho dates
I purchased. and if SO. how much was l
entitled &c. r.
Answer-A regular semi-annual divi-
dend of IA cents and an extra divi-
dend of 3& cents was paid by the
United Profit Sharing Corporation on
December ! to stockholders of record
November 10 last. You should have
received cents a share on the first
100 shares you purchased
New-York tribune., 1920-02-29
Butte Copper and Zinc

Question-Has Butte Copper and Zinc paid
any dividend and, if 80. when? What is
information you may be able to give me and
your opinion will be greatly appreciated
E. c.
Answer-Butte Copper and Zinc
Company paid an initial dividend of so
cents share on July 80, 1918. None
has been paid since. The capital is
$3,000,o0O, par value SIS. The net in
como for 1919 was only $s.719. The
stock IS pure speculation, particularly
as the ore in sight has shown consid-
cradle shrinkage on the Emma prop
erty.
New-York tribune., 1920-02-29
Barnsdafl Corporation

Question-Wi you kindly give me wins.
information you can about Barnsdall Cor.
poration? Do you consider it speculative
Investment? Does it pay a dividend IS E
Answer-The Barnsdall Corporation
was incorporated in May last year
under the laws Of Delaware as a hold
ing company to control the oil, gas and
mining interests Of the estate of Theo-
dore n; Barnsdall. as we'll as other
properties that have been acquired and
developed by the executors Of thu .,-
New-York tribune., 1920-02-29
Investment Information

Q~estsoms 81 general imtsysst 70
Mvestors sciu be answered in this
coiMnn, in ,chick case oMlv initials
scH % used. Others spill be an
ssoered by n*dsl. Addrese all im-
1asrses, Enclosing stamped, od.
aressed envelope to Financial Editor.
xne Tribune. ls4 Nassau Street. Ne4s
York. City.
New-York tribune., 1920-02-29
Swift International

Question--Wil you kindly advise me ir,
regard to investing few hundred dollars in
swift International? Is it safe and sure in
bringing good returns, as has been affirmed
positively Mrs. f. s. c.
Answer-There is an old saying that
nothing Is sure save death and taxes.
For investment purposes we should not
recommend Swift international. To be
sure, the company's earnings are good
and at present the outlook is favorable
Yet conditions are subject to change,
and the change may come rather sud
denly. For that reason we believe a
stock like Swift International is too
speculative for investment purposes, so
If you seek all investment where the
return will be more stable you should
buy good bonds or preferred stocks.
New-York tribune., 1920-02-29
Capital Is Large

=, ouestion-Was advised to buy Columbia
.'raphaphonc and knowing little shout 1t
a good investment? Please tell me about
the dividends. l WIS told it paid very well
&c. H.
Answer - Columbia Grapha phone
STOCK, ike most other speculative Sc
curities, has been very weak during
the last few weeks The stock +. not a
good investment. Its business is
large. to be sure but go Is its capital.
IT pays 26 cents share quarterly and
5 per cent in stock.
New-York tribune., 1920-02-29
Business Items

manager OF tho Cloak. Suit ana Skirr
Manufacturers' Association. yesterday left
may may position to become actively assocl-
ne ha: been identified He viii be the
general manager Of the wynkoop Service
~ XIV sroadway.. Mr.. WARDS successor 81
New-York tribune., 1920-02-29

line preferred stock Is entitled to a
fair rating as an investment. Tho
company is comparatively new and
must demonstrate its ability to earn
over period Of years. Wilson e. Co. s
earnings aro ample at present to en-
title the convertible 4 per cent bonds
to fair investment rating.
New-York tribune., 1920-02-29
DIVIDEND NOTICES
AMERICAN CAN co

~ a quarterly dividend OF one ana three
ere@ 49, sm.s PER csqt mas been declared on ~.
-. a.pfi. Iss 1920 to Stockholders OF reoora
=. IN. 'ne c'ose OF business March nth. 1870
rn.s,I.sf 'si-'iei Books VII remain open. Checks
X. II. ISMON.
Secretary X Treasurer
New-York tribune., 1920-02-29
Bonds
Promise Better Express Service

enlisted. tsells cents per share.