davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
PLAYING for High Stakes

Question-What s. your opinion OF ~
lantic Refining Company common STOCK
now selling around sll50 per share W nat
rate of interest does this stock pay 10
you think II may so lower in price, AS i
speculation presume IT Is especially
desirable on account OF the iarse STOCK
dividends Standard Oh declares from time
any. is there 10 this stock e. Is. u.
Answer-Atlantic Refining Company
has been paying $40 a share dividends
on its common stock since 1914. In
that period the shares have sold as low
as $50 and as high as 1740. The high
low so far this year has been 1870
1925. The stock sells so high because
the company has a profit and loss sur
plus of about S56324 asa, giving net
assets applicable to the common stock
Of about 81 .226 share. The net liquid
assets alone are 1915 a share. For the
seven years 1913-1919 the stock earned
the average equivalent of 1850 per
cent share (par value 5000. One
objection to the stock is that it is not
actively traded This means, in case
of an issue selling so high that seller
might not get bid within scores of
points of the last sale. If you are
we'll fortified with cash and want to
play for high stakes the surplus offers
attractions in a speculative way, espe
cially as the Standard Oil companies
have q record for melon cutting.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
Tempted. but He Doesn't Fail,

uestion--1nclosed please find Soma
- to,i matter on oil stock. i want you
am man up in years and employed In
piano factory. sweeping the noors. and
Dol dollars usfs mt ft'e money; but can save few
,han a bank win pay you but to ,nves.
!. with safety. Please let me knSw
a Mne1e , you can. can get book telling you
,he meaning.-T. J. Mex
Answer - Smallwood & Co wbo
wrote you the circular about Monarch
Petroleum Company stock, are the
same outfit that was trying so hard a
week or so ago to sell the shares to
seamstress against the advice of her
employer, as recorded in this column.
Their letter tells you about 1.-The secret
o. making money" and says: mo man
ever gained wealth by the or per
cent process" 1t attempts to lead YOU
to belieye that Monarch stock will
show tremendous increase in value in
short time" Stocks like these are
not Investments, but speculations, and
the House of Smallwood knows this
to be true. You cannot afford at your
time OF life to risk your savings in
any kind of gamble. and if YOU had the
opportunity we do not believe YOU
would try to induce seamstresses and
old men who earn a living sweeping
out factories to put their savings into
OIL stocks Your present job is far
better. You can take pride in it. Just
let the oil stocks alone. Buy as many
OF the fourth Az per cent Liberty
bonds as you can pay for, and hang
on to them. They will stand up for
you like q rock on that inevitable dav
when you find the broom Is Just a
little too heavy for you.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
Trading i'm Wheat
Quiet as Result
OF Recent Gains
Exporters Show Little Inter-
est and Sellers Refrain
From Pressing Offers;
More Hope in Demand

There was only quiet trading in
wheat yesterday, with operations
largely of an evcning-up character for
sales and the advance in the Winni-
peg market on Friday had a tendency
to discourage aggressive selling and
early IN the day the market displayed
more or less strength.
Fart of the gains were lost under
pproht-taking, but final quotations were
h2c to sc net higher The export de-
mand was less in evidence, although it
was said that Fridays business had
been larger than reported at the time.
me increased activity in Canadian
wheat again attracted attention, and
II was believed that some of the recent
business at least was due to a DISPOSE
ton on the part of some large shipping
nrms to secure supplies at Georgian
Bay IN anticipation of orders from
Europe
Receipts at primary points were only
talr, although the weeks arrivals were
ABOUT 100000 bushels larger than those
OF the previous week. The continent
at the present time is the principal
buyer of wheat, but it is thought prob
able that the British buyers NAV re-
enter the market at most any time. and
some believe that prospects for bet
ter domestic demand are brighter. as
dnere mas been little more activity in
flour of late.
: On the other hand, if transportation
facilities improve it may mean laroer
offers from the country where stoets
are large
In the local cash market No. red
and No. hard wheat were quoted AT
S2731a c. l. f. track. '
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
Marks a Greater Lure Than College

Question: intended TO enter one Of the
Eastern colleges thia fall, but due to the
extIaordinsry opportunity of low exchange
or inc German mark mean to stay out of
college for year and invest 81 900 in a
German city bond (Bcrlin) or to deposit
tho amount at the Dresdcner Bank Of
Berlin. Is either way safe. or which is
me safer Or what do you advise mo to
dor II such an investment were sound
would Kuhn. Loeb G. Co. be a good bank
Ing house to which to intrust my money -
G. r. II.
Answer-We think you had better go
to college. Study economics, money
and banking. politics and international
law, and when you get through you
Will know that German city bonds are
not an investment but a gamble, and
why. We have frequently emphasized
that there is only slight element of
security in these bonds, and we see no
reason to suppose that Germany. in
view of the peace requirements, will be
able to make her $4,000, 900 900 or
more of paper money worth anything
before you are gray-headed, In the
mean time you can make your college
education worth great deal. There
IS nothing to stop you from declaring
your own dividends on that investment
II you do not try to get rich quick.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
His Loft Stock Came High

Question: bought 20 shares OF Lofts
S Sang at sac per share all paid for The
advise selling same and take my loss os
hold until the market improves? Why has
It gone down much and what Is your
opinion regarding this stock Which com
pany in your opinion is the safest to buy
first mortgages from, Straus & Co. OF
Title Guarantee & Trust Company IN. P.
Answer-You paid too high for your
Loft stock, in our opinion. The book
value is about 81 a share for the $780,
900 shares of no par value. Earnings
for the last five months of 1919 were
about SO cents a share. Mr.. Loft says
the company ia doing better this year,
and is expanding. We do not know
whether you can afford to hold the
shares until the water is squeezed out.
S. W. Straus e. Co. and the Title Guar
antee Trust Company both enjoy a
high reputation, and we would not at
tempt to discriminate between the
mortgages they offer.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
Cotton Receivers
Sharply on Poor
Crop Forecasts
Reports in Increased Deteri-
Grafton as Result of Con-
tinued Rains Sends De-
tober Up $40 Over Low

The recovery in the cotton market
became more rapid and considerable
excitement developed yesterday owing
to increasing approximations of a
sharp falling off in the crop outlook.
Wall Street and Western operators
were particularly heavy buyers on the
advance, which carried October deliv-
cries up to 29.85c, or 1872 points above
the closing price of Friday and more
than $40 bale above the low level
of last Tuesday, That month closed
ct 20 roc, and the general list closed
strong at a net advance of IS to 1871
points.
Traders found no improvement in
the news from the goods trade at home
or abroad, and there was some bear
ish comment on the weekend Stats
tics which showed small spnners' TAX
ings and corresponding changes in the
visible supply. These features seemed
to have little influence, however, and
scattered realizing for over the week
end was readily absorbed, with the
market showing frmness fror the
start. First prices were o 80
points higher owing to the favor
able weather map and active months
sold 108 to 1872 points above FRIDAYS
closing figures in the late trading
Last prices were at approximately
the best point Of the day on nearly
all positions.
There was no apparent change Of
opinion as to the probable showing
Of the governments crop report,
which is to be published next Wednes-
day, out it was feared that the crop
was going back quite rapidly when
the data for this report were secured
and that the deterioration has contin-
ued since then. Yesterdays outlook
was for continued showers in the belt
over Sunday, and tn, change in the
character of the crop news has at
tracted attention from the unfavorable
trade features which contributed to
recent declines.
Manchester advices reported an I'M
settled goods market, due partly, no
doubt, to labor uncertainties. Sales
Of print cloths in Fall River for tins
week were only 10000 Heces, and do.
nestle mill curtailmcst was heavier.
with prospects for ST., greater fall
ing off between now and Labor Day.
In some cases mills are to resume
operations after Labor Day, but in
others the curtaiiment viii be con-
tlnued untila better demand for goods
is in evidence
The New York spot cotton market
was quiet at IS points advance; mid
ding 3425c; no sales reported.
The range Of prices follows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
New York Dock Preferred

Ouest!on--Wo be pleased to see your
opinion as 10 New York Docl, COMPANY
preferred stock.-H. s. r.
Answer-The New York Dock Com
pany has outstanding $4,000 900 per
cent cumulative preferred stock,
par value 500, and it participates equal
ly with the coEmon after the common
receives per cent in any one wear 1t
also has equal voting power. The pre-
ferred is preceded by 1850, 900 first
mortgage bonds. The company earned
net, after expenses, chsAges, taxes, etc,
in 1919 SS7s,71l. compared with $685.
S23 the year before. The decrease was
explained by the company rs being the
result of reduced demand for storage
following the end of hostilities. On the
other hand, long term renewals of ex-
piring leases were made at much
higher rentals. The net income for
the first six months of 1920 was $422.-
495, less than twice preferred dvi-
dend requirements. Preferred dvi-
dends have been fully paid only since
1917, therefore, we would not call the
stock a strictly good investment. But
the company has large properties on
the New York waterfront, is we'll man
aged and probably offers good specu-
lative investment possibilities
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
Empire Gas and Fuel Preferred

observation-disclosures advise me about the
Empire Gas and Fuel 8 per cent cumula-
tive preferred sold by Henry l.. Doherty
Sc Coz. c. p.
Answer-The preferred stock Of the
Empire Gas and Fuel Company is issued
subject to 100000 authorized
bonded debt, of which $37 ,189 800 is
outstanding at present. The company
is authorized also to create an addi-
tional bonded debt not exceeding one
half Of the future expenditures OF the
company for capital account. The pre-
ferred outstanding now is S17,797 ,220.
An additional 100000 is reserved
for The conversion of notes, and an
other S35,000,000 may be issued at any
time for proper corporate purposes.
Beyond this the preferred may be in
creased only as bonded indebtedness is
decreased or as capital expenditures
are made which are not bonded. The
foregoing figures show that the COM
pany is pretty literally capitalized.
However, the present earnings available
for preferred dividends are S13.431 ,S45,
about nine times requirements. The
company, with its subsidiaries, is the
chief subsidiary of the Cities Service
Company and is engaged in the pro-
duction and transportation and refining
of oil and the production and transport
tation Of natural gas in Kansas, Okla
homa and Texas. We would rate the
preferred stock as a speculative invest
M
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
Stakeholder Voices His Plant

a. Question-As a common stockholder OF
fne american Hide and Leather Company
! am asked to sign proxy to ratify plan
providing for the profit sharing by Off
clais only which was submitted to the
BOARD or directors OF the above company
July " and which was approved by them.
Inc plan provides for the participation In
inc profits by the president and vice-pres
dents only from the net earnings The
plan does not mention the American Hide
ana Leather Company clerical employees
laborers or the common stock holders This
SOUNDS TO me like active officers in COM
mana or the forces Of the Russian Soviet
or Is the common stock holder an idiot ?
very prominent writer gave us recently
conception OF the word idiot Idiot
originally meant a common, ordinary per
son, and is survival of the general be
net before the days OF democracy that the
common people have no sense.-J u. orc.
Answer-Now that you have that off
your chest, stop and think how the nro-
ferred stockholders must feel about
the plan. They have Ill per cent back
dividends coming to them.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
Expects Death Soon, but Buys OIL

Question: well-mean!ng and dear old
aunt OF mine has invested in 10000 shares
o. Central OH shale Refining Company in
Chicago. paying for them anywhere from
TO 5 cents per share. She frankly admits
her chances are speculative and that she
Will probably have no chance TO enjoy any
OF the proceeds. she Will not live much
longer. but she hopes my children may
perhaps stand chance. What are the
future chances Fl II. II.
Answer-Your aunt, we fear. has in
dulged in doubtful gamble. The fact,
if such be the case, that she expects
to pass on the gains CIR the losses does
not, in our opinion, put the matter in
any more attractive light Specula-
ton may be justifable when its re-
suits affect the Spectator alone, but
few people who stop to think are will
ing to risk their capital when they
wish and intend their dear ones to
reap its benefits. The tears that have
been shed ever legacies of oil stock
are out of all proportion to the occa-
sional dividends collected
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
Drop in Austrian Census
War Causes Loss of 8I4.46l.
Figures Show

According to the census taken on
January 81, 1920, the Republic of Aus
tria in its present territorial limits has
a population of e,O67,430 Compared
with the corresponding figure for 1910
the census of 1920 shows a loss of 227.-
2o9. or 3.6 per cent. The city of VI
emma alone, with a population Of l.
s42,oO5 IN 1920, shows a loss of 1885,
493: or s.3 per cent. Ten other cities.
with a population of 10000 or more
each, have gained 20,l40, or 4.3 per cent.
while the smaller cities and the coun-
try districts show loss of 57,85s, or
1.5 pei, cent
The Vienna "Arbeiter-Zeitung" Of
July 3, 1920, estimates the number of
Austrians killed in battle at $50 900
to 10000, and places the total loss due
directly or indirectly to the war ar
sl4,46l. This figure is based on the
calculation that if there had been No
war and the population had Increased
IN l9ll-19l9 at the same rate as it had
grown. IN 1901-191O the population Of
Austria would have numbered 68s1
o3l at the end of 1919
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
Would Speculate With Savings

Question: plan to invest little money
that have saved. How do you rate the
following stocks d. W. Griffith. Inc,
photoplay producer. at SIS per share
Saxon Motor at 81. present rate on New
York Stock Exchange; Hart OIL Corpora
ton, at 81 share? | bought some shares
or the Commonwealth Mining very cheaply
some time ago; last week friend OF
mine that I bought shares through told
me that they have struck II rich. This Is
supposed to be silver somewhere In Idaho
l would be very pleased to get same
J. L. s.
Answer - We regard the Griffith
shares as fair speculative investment
Saxon earnings have been poor and we
do not recommend the stock for invest
ment. Hart Oil is we'll managed
concern, apparently, but its shares are
speculative, like the rest of the oils.
Mining stocks like the ones you men
ton are gamble, in our opinion. The
outlook is not good for gold and copper
enterprises at present. You would be
in a much better investment position if
You put your savings into the invest
nient bonds and preferred stocks often
mentioned in the Investment lnforma-
ton column. Striving for a high yield
IN speculative stocks brings disaster to
most people. Saving is a process of
self-denial, but savings vanish just as
quickly as other kinds of money when
the smash comes.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
Smelters Stock Attracts Woman

sm Vuie,s,lon-Do you consider United States
good iny. ana refining preferred stock a
some which l paid par (5o1 for and notice
hpw o., price r. around A. have quite q
dus, r Ianeu Us dist OF Investments, mostly In
vest about $4,000 more The SmsIt, ,,'
,,onS al. inactive Would appreciate your nd :
renor al 70 whether the decline Ia from lust
!" inc coinpany's business-Miss A. " g
Answer-- Reconstruction imposed a
severe burden on all producers of COP
IT, LEAD and zinc, and as the result
G american Smelling and Refining
Sonl pany last year earned not ouite
Twice preferred dividend requirements.
lraue conditions have not improved
since. However, it is large. we'll
liahaged company and has a big sur
pius; IL has paid the preferred divi-
uehos LOT twenty years or more. We
regard the stock as a very fair invest
asenl. MARKET conditions probably &C
Loune Ior part Of its decline. We give
~ with some OTHER securities which.
80 our oplhioh, are more suitable for
your purposes. You may choose from
them according to your reuuiremau o,',
o. yleid, maturity and diversifcatjon :.
united States Steel 7 per cent NO.
lerred, American Car and Foundry 7
per cent preferred, Corn Products T
per cent preferred, General Chern;c,
per cent preferred American ca o Tehacca
per cent preferred, United States
Rubber per cent preferred. VIRGINIA.
Carolina Chemical s per cent nra-
ferred. Bonds-St. Paul general ner
cent, 1889; Rock Island general As
1888; Illinois Central A per cent. 1859.
Wabash first per cent, 1899; Atchison
adjustment As, 1895; Chesapeake e
ONO general 412s, 1899; New York
DOCK first 4s, 1851; American Tele-
phone IS, 1916; New York Telephone
4 72c, 1899; Western Union AIS. 1880
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
Woman Likes Foreign Ronda

, Question bought $1,000 worth Of the
I I',aes french cities, Marseilles, BORDEAUX.
~ W. a and have been paying for the bonds
i ny ae ,gan,, DO YOU consider it safe
another $1,000 in the SWISS bonde b bat
yIeId per cent. and still another 81 900
IN United States Steel Mrs. T.. W. IL
Answer-We believe that the French
cities and the Swiss bonds are safe
enough for all ordinary purposes
Ihey, yield higher than domestic bonds
or the same rank because their Sc
curly is so far away. An investment
IN United States Steel preferred would
round out your investments nicely. but
we think that the common stock. if
that IS what you refer to, is rather too
speculative for your purposes. Never
:heiess, there is a large equity behind
the shares and they are selling around
the low level for two years
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29

Question-i desire Information regarding
the stability of the Black Panther oil ana
hehnlng Corporation, with Offices at Phila :
aeiphia.- This concern is not listed in
STOCK reports and | am told it is selling
about to declare a dividend Of 100 per
cent and expects to follow this up with
another in March. 1s2l.-F H. c.
ACKNOWLEDGEMENTS that the black
panther is first cousin to the wildcat.
and neither of them has much of a
reputation for stability. The Zoo is
the best place to f,Am their acquaint-
ance. If stability is what you are
looking for we recommend that you let
the oils alone, particularly those
which are about to declare fabulous
dividends. Has Ponzi lived in vain?
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29

Bought Victoria Oil at $3.50

Question: have 500 shares OF Victoria
OIL stock that cost me 81. so a share VIII
you please inform, II possible II the stock
has real value. whether to sell /; at a
loss. or hold Il for advance that will
let me out whole IF. r. c.
Answer-Victoria Oil stock has real
value, but it is so difficult to fix the in
trinsic worth of oil shares that we
cannot attempt to do it for you.
Whether you should sell or hold de-
Ponds on whether you can afford to
speculate. Shares like these are likely
to do anything. We cannot attempt to
predict whether they will 60 up or
down.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
Woman Chooses Safe List

Question-Tha following bonds have been
suggested to me and l would appreciate
your advice to the safety TO both priu-
cipal and Interest," Missl c. 7.
Duquesne Light Company per cent
due I949
New York Telephone Company first mort
gage i L.
Goodyear preferred stock.
United 5tates Rubber per cent, due
1947;
New York Dock.
New Orleans Terminal first mortgage 4
per cent.
Kansas City Terminal first mortgage 4
per cent.
Answer-Your list appears to be a
good one We assume that you refer
to New York Dock bonds and not the
stock issues. We do not advise the
purchase of the stocks for your pur-
poses The first per cent bonds are
a good investment in our opinion. We
believe you would make no mistake in
purchasing the securities suggested to
you.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
When Will the Market Rise,

Question-I would appreciate your views
~ Wnat the prospects for q rise In
t me loIlowing: Denver Il Rio Crande corn
ZION, flerce OH common. Shelly OH and
Neyseohe IRE and Rubber-P. r. OF.
Answer-Your common stocks are all
speculative and move according to gen
Tral economic and market conditions.
90 many elements enter into the sit
ualioh LOT us to attempt to predict
and start up >'''''
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
. wer-The Associated Dxy Goods
Company Hard Hit nv War

Question: have ten shares of the In.
ternational Educational Publishing Com
pany. Of Scranton, Pa. Could you furnish
me with q report of the financial condi-
ton of the company? Ia there any pros
pect Of resumption OF dividends on the
preferred Arc the dividends cumulative
on the preferred? would also like to
know what the market values Of the COM
mon and preferred are al present.--J L.
Answer - International Publishing
Company per cent preferred stock is
cumulative. The company was hard hit
by the war. We do not know what the
prospects of recovery are The pre-
ferred, par $50 is offered at 1912, 91s
bid. The common is around 81.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-08-29
Requires 7 p. c.. Likes Tel. & Tel.

Question-Please Let me know II you
consider American Tele phone stock a good
Investment for a person of limited means,
whether It is adyisa BILE to buy at its pres
emit price and what has ben the rate of
dividends declared in the last four or five
years? Is it an easily marketable stock
II you would not advise the purchase Of
this stock please let me know the name OF
some substantial stock which would yield
Z or per cent-A. NJ.
Answer-In our opinion American
Telephone and Telegraph is a good
speculative investment. The company
earned its SO dividend by small mar
gin during the adverse wartime condi-
tions, and now that it is in control of
its property it should do better. In
fact, earnings have improved already.
The shares are active on the New York
Stock Exchange. General Chemical 6
per cent preferred and Virginia Caro-
lima Chemical 8 per cent preferred are
better investments TOT you, In our
opinion, than Telephone and Telegraph
preferred and meet your yield re-
0uirements.