davidaulloa/AmericanStories huggingface dataset:
Hermanner Volksblatt. [volume] (Hermann, Mo.) 1875-1928, 1920-01-02
y Nebl aus Der 0rofe Miible gu
baben bel @mil Nagel.
3nder.gnsfRbr.

Sros eines 5~uleDmenocn Nan9els
an 3uder lpurben in Den eriten 5ebn
Mtonatcu OeS Sobres 1919 mebr oils
i,250,000,000 8funo 3ufer int
@ertbc bon annGDern6 $97, 100000
ans ocn Scr. Stooten erportiert, pie
bas Sanoels.0 epartement in 8albs
in9ton leste 8ode anfitnoigte. 9ie
ll1sfltbr, Wel6e ~gr0Btentbcils nod
@roBbritannien unO Sranfrcih 9ing,
iiberItieg in Gllantitat 339 Yrp5ellt
Ocs 8ctrogcs, mcl6es mdbreno Scr
gIcid)en Geriobc bes norbergebenoen
Sabres aus Dem 2anO qeionot mllr,
DC.
Hermanner Volksblatt. [volume] (Hermann, Mo.) 1875-1928, 1920-01-02
Sdpitcn cr,uGbltcu meme Seamte.

Sn Der ari lestcn @ontag ubsc,
boltcnen SaDres /. @~eriammluna bcs
hermann Sdarfidiitcn Gercins
murocn fnIgcnbe gcomtc fir bas
nddite Sabr eemdblt: @m. gbcrlin,
Irdiiocnt; 2ouis Sabcritod. @ioc.
Srdiiocnt; s. so. Sdcrmann,
Sdabmciiter; 8ris Gang, Scfrctar
Gbos. 8ancis, Captain; Srcb 9onu.
Ter, lieutenant. unb Granf @cil-
mann 8eiaer.
Hermanner Volksblatt. [volume] (Hermann, Mo.) 1875-1928, 1920-01-02
Observation-Disclosures

C. D. H. Graue, New Haven, 81
Anna M. Heidi, Hermann, ~--27
T. G. Sieckmann, Rosebud, --38
Nora A. Huerner, Gerald, -~---25
VIM. F. Juedemann, Owensville, 90
Hulda C. Koch, Owensville,----31
Albert E. Hug, Hermann, -----23
Margaret C. Emo, Hermann,----1S
Gust. E. Dieterle, Berger, ---26
Selma V. Blumer, Berger --22
Lester A. Bowman, Detroit, ---44
Tillie N~euhauser, Hermann,------34
Oliver l.. Bueker, Stonyhill, --25
Mollie l.. Coulter, Swiss, ---18
julius M. Vohs, O~wensville, Pc
Ida w. Chaser, Owensville, --22
Hermanner Volksblatt. [volume] (Hermann, Mo.) 1875-1928, 1920-01-02

-0ic @cibnahts5cit bradtc alld)
bieics Sobr micber piclc Der SGbne
mo S0dter ltno an0crc AngcbOrige
aus Der 6rcmoe 5urild in Die oltc
@cimotb MI oas ih0nc Gbriltfeit bel
0cn Gltern ODER i'm &rGiie bon Ser
man0ICn uno 9efonntcn 5t feiern.
GllBer Den bcreits leBte @o6e err
mGbnten, hemerften mir folgen0c
Sciertagsbelu6er: Sacob 9alm-
gacrtncr, s. 6. &litti6 unb Satin,
6rou Oscar @reiS, Srls. alma unb
Sbereia Bauer, Sillio Brandt, Srau
Sitlio Iiemann, 2ouis Nnon uno
@ottin, &p. Scsse uno Satin, SRI.
@clma Rueoi9cr, 4lcr. Naiie, &ls
fuS. Settler, Sri. Glcanore Hoetbes
meper, Sri. Guinto 9egemann,
Sarrp Slocomb, @ilfreo &lebiger
unb @ottin, Sri. Sbefla Sous, SRI.
Gillian OdSner, SRI. @itber Soc
libel, Belmont @laier, Sobn Nieboff'
ullo 6antilie, 5rls. Splpia pnb Soa
Druid, Sophie uno Gbriitine Wtils
Ter uno Sp. 9oll. Iommtli6 bon st.
2ouiS, u. S. Sabermcbi uno @at.
tin, bon Springfield, u. s, Saboitbc
uno @ottin, bon Wcaittrid, s. 3.
5pobrer unO Satin, bon @orrcn.
ton, 6rou 2puiie 8ilo, bon ct.
@cncpiepc, Ebillip &olb, bon 2oltiiis
ana, ltno Illcn II. Scrmann 9ruld,
bon @oibington.
-0os Subr 1920 miro elm
Sdaltiabr iein un0 mcnn unicrc
WtGoels bon ibrcm S6altjobrsredtc
@ebrauf MAIDEN, mer0en niele I'M
icrer i6itdternen S%rnggciellcn mGb-
reno ocs tommcnoen Sobres ibr
Slid finoen.
SRI. Srmo Hebiamen, bon ct.
2ouiS, crfrcltte lcttc @o6c lire @ls
tern, 6ranf &cbiomcn rno Satin
oi1rf ibren 9cild.
SRI. Gngcline Shcrmain, bon
ct. 2pllis, bcfano iid iibcr Die 6eiers
togc bel ibrcr nobe Spiss p%obnbaf'
ten Wutter.
-0cn MuSfuup unb Geo. &ader.
banner. BON Seconb Greet, lparen
lesten 0onncrstog bier urf gciud
bel 9~efonnten.
IS. q. 2aboube uno @ottin, pon
@c&ittrid, perlebtcn Die 8eib.
nattstoge bier bel ibret angebDs
riecn.
EM0as iiineitc Sodtcrdcn bon
@iRft S6u6 uno @attin muroc lcs.
ten Sonntae burd SaItor aasmann
BON Der bieiieen ct, 9auls.airde
aetouft unb crbiclt Die Rgmcn
G6eilia SiSonia.
grnit o. unb Gbrilt. 8ena,
bon Stonp Sill, befanbcn iid lcb.
ten Wittmo6 bier III @cldGften.
Hermanner Volksblatt. [volume] (Hermann, Mo.) 1875-1928, 1920-01-02
Erpiit &enjabr!

Sdnell flleget bin Die 3eit
SINS Weer Der gmigfcit
@tit rai6em Slug.
lSieles int 8eltenrounL
Gb' mir 9eba6t es founl,
Sliebt mie Elm bunter Sraulll,
8ie bunter Sru9.
@ic man6cr Soffnltng Stcrn
Snnf nieoer in Der 6ern,
Scr9lilbt, perbloBt;
@ic mundcs Weni6enbcr5
Sdoutc mobl bimmelnGrts.
@cnn cs bon bittrcm Sdmer5
ltnb Noth crfaBt.
Drum laBt bel frobcm Sang,
Sci bellem 9c6erflang
Sprgen cntflicb'n!
@aS ms Oas alte Sabr
8rahte an Summer bar,
WtuB MN allf immeroor
Son oarlnerl 5ieb'n.
Do6 filuoct @lodcnidlag
Sdon OIL Den crltcn Gag
Sm ncllcn Sabr,
limo nit inn itcllt iif Elm
Soften rnb Sroblidiein
llno frclloig flin9t cs 6rein:
Yroiit Heujobrl
Senft nid)t mebr bang 5uriif;
Soffet oif neites Slid,
Sonni9 tn6 flarl
2aBt Sorgen Sorgen iein,
Sdcnfct nun fro9lih elm, .
Gum nellcn Sabr lofts iein
Sroiit Hcuiabr! .
Hermanner Volksblatt. [volume] (Hermann, Mo.) 1875-1928, 1920-01-02
Saffcc Spe5ialitGtcu.

@ir iino Die 2eiter I'M anffcebnn.
ocl. anuft cl,ren &afice bel ms uro
ibr erboltct c,tcr @eloeSmcrtb.
Don Con. cin 8affee ser bciten
GuolitGt, iett 10 Gents.
liner 40 Gents 8nffce miro jcst
81 30 GcntS %Oerfollit. Gin ebcnfolIs
iebr gllten &offec pcrfouicn mir 81,
30 Grnts per 8fltnb.
Fbonc 80. Sobn s. ScImers.
Hermanner Volksblatt. [volume] (Hermann, Mo.) 1875-1928, 1920-01-02

-3uerit: 8iel Slid I'M icllcn
,SSSobr allen 2eicrn ocs n&olfsblatt;;"
nlGgc ca allen mcbr S%onnenifein
un0 nlcbr before Stunocn brinaen,
ruic .ou5 uCr9unacnc Sobr gcbroht
hot.
-RcinburO GpCihel un0 Satin,
Don NeDtoii, &%nninS, trafcn lebte
ISOLDE bier Gin 5lnt @eiuh bon Ser
molotcu mo @cfonnten.
Sol. &oiurf, %. 2ltctfCnbol0er
mo Sim Nouienan, uon Roiebub,
btiunNcu iih Iebtcn SomStog in @e.
id)Gitcn bier.
-Glrf Ynltor u. $. &nSntonn
pon Scr cUon9l. ct. Eoltls. Stride
mlrOc ICttcn Sonlltog OnS S6bn6en
non @enrD &olb uno @ottin, (ge6.
0orit), bon Storm 2nfc, Soma, &C.
tollft rn0 crhiclt sic NnlnCn Rohcrt
Ncnrp.
Strait @nl. MfcGartp, bon Som.
ios Gin bcfinbct lid 9egcmpGrtig
bier uui 9cilld bel ibrcm 9rli6er.
Gbos. Wumbroller, unb on0eren
NcrmanOten.
'9ol Brand 1 Ii. 2 SdnulIcn Sil5.
StirfcI 81 babCt IN .. 6. Rict's
!. Strnbc SdubItore.
-Slipcr Gdsncr un0 Satin
fcbrtCn IcBtcn Wontog nod IGrgc.
rem @ciud bel &crlpauotcn IN Ger,
in0torl, DO. wicotr 3uriid.
-NcnrN @inflcr un6 @nttin rn0
&erbcrt 6ocritcr, bon ct. 2ouis,
luclIcn a%c9enm0rtiQ bier ais @Gite
Nea Iaitpr VI. s.. &nsmum mo bci.
i'm TnnliliC.
sic GntcrpriiC Militorp 9on6
miro olld Oicics Sobr mieOcr Oen
critcn Mosfenboll Der Soiion her.
dnItoltcn, un6 5luar miro ocriclbc
ul Sumstug, orn 10. Snnltor in
Der Gon5crthollc i%tottfinbcu.
DDS SobrbOot bat ii6 oul Mitt.
mod lester @pd)e in icin @iutcr-
olarticr SnriIf9c5o9cn. N9enn oas
@ctter gilnIti9 lit miro oos Boot
bclltc micoer cine 5nbrt unterneb.
mel tint cine SGeemiiblc uno Graf.
Tor bon bier aus nod Der Noroicite
81 transpnrtiren.
9. i. Srlnfmam ltnb Sobt
pernlonll, bon Smcnspille, y. 9, be.
tonocn lid lesteu 9icnstoa bier in
@eidditen.
-Sugo nnb Sictor 9obl uno
Scrbert uno Souis 0eppe, bon BOTS.
Dam nnS Geo, Sbneiocr, BON Ban,
loaren arn Santstag bier nm nil
Nem Superpiior oes Genius bicies
Giltriftcsi itber ibre &ilidtcn uIs
Solfssobler ,su conferiren.
Hermanner Volksblatt. [volume] (Hermann, Mo.) 1875-1928, 1920-01-02
id)reibc iebt 1920.

WNQllLlpC, uul ~. SuuiSy uCIulluCll
lid ctlidc Gage 0icicr ISOLDE otf
@ciu6 bel 6crO. 0icbul mo Somi'
lie, nobc 5pis8.
-6rau 6reo 8obnc, mcldc bier
allf 9ciuh bel ibrenl 9rltber ..
g4nt. RucOicgcr mar, fcbrte om
Mittpo6 mad ibrcm @cim in ct.
5uriid.
%. 8. @altpt un6 Satin. Srco
Icdcu1cgcr jr. un6 6amilie, BON ct.
un0 8m. Ri6cp unb Sami.
lie, bon @osconaoe, maren lette $50.
dc bier auf 9eiud bel Den Samilien
Sobn 6. @ocit rutb Srco Scfemcgcr
fen.
-5rou 3beo. @raf reiite Iebtc
ISOLDE nodlSt. 2oltis nm oas @eib'
lrud)tsfcit I'M &rciie mcbrcrer ibrcr
BORT mobnenOen ainoer 3u perlcben.
Ger Wosfenball Scr G%nterprilc
Militorp 9anO, Der ON SamstQg,
ocn 10. Sonllar in Der Gon5ertbollc
itottfitocn miro, pcripri6t Elm glGn.
81 pcrocn unb Den gciudcrn
rincn pcrgnilgtcn 2Ibcnb 3u bictcu.
Nm g~cOicgcner Wt1iif miro Cs nidt
icblUl, ocrn 0afilr mcr0cn Die Gnters
prize MILITARY &nn0, BON bier, io'
mic sic International @ono bon
9Snibington uno Hl1cOiger's Sass.
.r6cItcr iorgen.
-6rou Safe gtifololts, bpn ct.
unO Sri. Gllic Spoete, bon
Gitp, meilen gcgenlp1rtig
bier ais @Glte bon 6rit Gang un0
Sri. GOitb Sanncr, bon Sci,
Gitp, mar mGbren0 Der @cibr
lahtsluo6e bier ais @oit bon Sri.
&liie SuGlcde.
-9lug. 8raf uno @attin ocrmcil.
tell ilbcr Die Scicrtage bel ibrcn
Scrmanotcu in Der 9ap Hudbar.
id)aft.
Sri. Gillian 9cgcn1onn tont
Icete @o6c bon ct. 2ouis hicrbcr
uni Die 6eicrta9e bel ibren @ltcrn
lIabc Stolpc 5n oerlcben.
Sri. &ulba &ublmonn, bon
9&ebitcr @roucs, crfrclltc lire 81
tern, &crnlonn &lIblmann unO @at.
tin, bon Coles Greet, m1breno Der
,SCicrtnQc nit ibrcm @cIlt6.
S. Is. @cnncfc, Sp. 6. Suii.
lnun, s. ". Senslep ltno &, Is.
bon Omcn5billc, morcn lct.
5rcitog bier in OeidGftcu.
i @eicn aus Scr biciigen 9cicnfo.
BRIT iino ictt olf ocm Marfte unb
5lpar fonncn Oicielbcn in folgcnoen
6ci6Gftcn g%efoltft merOen: 2ouiS
S~cgcnnann, S. $. SeImcrs, ". M.
Nicf, @. S, Gonuier rno Geo. q.
Erobirt oicie 8cien uno ibr
lpcrbct fiinftigbin feline onoercn fau.
fen.
Gle Sdiilcr Scr Glcntrntor.
Shltlc ucrfouftcn p1breno Oct Go.
acit Dor @cibnadtcn 1890 @cib.
nodts ,.Sicgcl (Gbriitmas Seals.
Ser grlGs ($36.6O lit fir Den
6onb, CUR 9%efGmpiun9 Der Sliber-
fuloiiS beltimmt.
-9tar &ibcrlin. bon Mc&ittrid,
bcfonO iid lcste 8o6e bier in &c.
ihditcu. @r tr1gt ieincn Itm in
Der Sdlingc ols Solec zines S@las
gcs bon cinem bo%dbeinigen fSoro
4uto.
-Srau au9uit 8aibel, bon nabe
GbamoiS. bctonh iid iibcr Die Seer.
tqgc bier at,i 8eipd bel ibren
Sdmicgcrcltcrn,. Grit. @qnn ltno
Satin. 6rau &aibcl mar frii6cr
6ran Dora 9rautigam. SER @ai-
bel uno @ottin betreiben neben If.
rcr 6arm Gin Storesciddft bel Gil.
Der Sill, Oiugc County.
"Ycitc Guulitat idmnrac unb rotbc
9all 9rono @ummi.S ticfel in 8. @.
~
Hermanner Volksblatt. [volume] (Hermann, Mo.) 1875-1928, 1920-01-02

an5eigen i'm 8~olfsbIott brinec,t
grfolg.
New-York tribune., 1920-11-28
Here's One From South Africa

Srnestion--l am one of your subscribers.
iatixs nxee pure hased five shares Paige cumu-
d. lo,aay 1t Is quoted around 10 Do you
S9nst1e1 wnat ehsnss this nyes!msnt % souna 4 not.
johannesburg. Transvaal.
Answer-There has been considera-
PIE reactlon in business in this country
curing the last few months. We have
had our period of imitation, as result
OF tEe war. and now we are passing
through period of delaton. Prices
OF commodities have fallen to a very
great extent, and luxuries, particularly,
have been reduced. Automobile manu-
facturers have lowered prices, hoping
to stimulate buying. There was a great
boom here in the autom obile industry.
People who never dreamed Of owning
car found their wish gratified, for
the laborlng classes obtained such high
wages that it was no unusual sight to
see factory and other workers going
to their tasks in their own motors.
Most of these purchases were financed
through companies formed during the
last shree years. The purchaser would
pay down a certain sum, take out in
surance on the car and pay the balance
in instruments. No wonder the auto
mobile companies prosperedl But the
American people have not reputation
lOI saving Easy come, easy go. INES
changed, many second hand cars were
thrown on the market because of the
inability of many to keep up their
payments, and then came the price re-
ductions. That is the stor. in nut
shell. While the Paige Detroit Com
pany has still maintained dividends on
its common stock and may continue to
do 50, it is doubtful if it's earnings
will show such gratifying results in
the future We know of no present
reason why the preferred stock is not
safe, but we do not consider the stock
Of a company which manufactures only
one product as sound an investment as
tha. Of a corporation having a diversi-
fed business. Such stocks as United
States Steel per cent preferred,
United States Rubber 8 ncr cent pre-
fcrrcd and Standard Oil of New Jersey
per cent preferred are better for you
to hold
New-York tribune., 1920-11-28

Question--Would YOU kindly give writer
al intorlnation you nayn on ir,, bn'ed St",os
slider the future policy oe Mexico fore
casts' Would also appreciate all infor-
nation you nave on White Oil.-D. A.
Answer-The United States of Mex
ico per cent bonds, 922 100000, were
issued IN 1899. The bonds are redeem
able not later than January /, l9A5, BY
a cumulative sinking fund of 1.l4b6 per
cent per annum on 910,344 $50 applied to
haf yearly purchases or drawings in
June and December, commencing June
/, 1900. In January, 1911. the govern
mert exercised its option and paid off
f10, ,433.S20 largely out of the proceeds
of + per cent loan issued in Paris.
All payments are made in gold, free of
Mexican taxes The bonds are secured
hy hypothecaticn of GO per cent Of the
import and export duties of Mexico.
The outstanding amount is now 50 957r
$50, denominations being f20, f100,
5000, $500 and fl0o0, with the equiva-
lent IN German marks, and United
States dollars also dcnominated on
them. interest is payable quarter y.
met and subsequent coupons are also
in default. Remittanccs for the sink
ng fund are also in arrears The
Der cent external loan is for $40 ,Q00,-
600 United States gold coin, and be-
sides it has the value of British, Ger
mav and French c MAGE n tie bonds.
The sum of e3.oSG ..9t was issued in
1904 in Lcndon. Ncs York and Amstcr-
dam at "a, the halaNcc having pre-
,ously been p aced. -~.c bonds are in
coupon form Of 21O2 It's I'd and s2O5
los Cd each and coupons arc payable
June l and December I, while a sink
the bonds in fifty years, free of Mexi-
can taxes, payable in New York Frank
'ort. Berlin or Paris. Interest due
June /, 1914, and since, as well as sink
ing fund.-, is in arrears. TIE Presi-
'ant-clect &C Mexico General Obrcron,
has stated that he desires to pay the
ntcrc on all bonds What the re,
su Will be we cannot attempt to say
The hite Oil Corporation was incor-
poratod October l6, 1919. and acquired
the holdings of White Brothers, com
DrisiNg oil and gas leases of about
&c go acres; also two casing lead gaso.
, 600 gallons daily. 1t a'so acquired
thc Clarendon Refining Company. It
own over 90 per cent Of the Crown Oil
and Refining Company. Since incorpora-
Ion i, his acquired by purchase leases
covering 1915 acres OF land in Texas,
Louisiana Kansas AN. Kentucky. The
average d. ly production has increased
to 5000 barrels. The corporation pro-
POSES to construct 81 eigh.-inch pipe
line from tidewater in Texas to the de-
volcDod tic Of north central Texas
and 5000 barrel refinery The COM
pany also has sixtcen-acre water
front at Bayonne, n. J., where it plans
to cons'rrct five 5000 barrel and four
teen 10 l0.0oO-barrcl tanks. There are
Zoo 900 shares of no par value author
lied and $4,000 shares outstanding.
The stock was first publicly offered
October, 1919, at S35 a share For the
three months ended June 80, 1920, the
company j rope rtcd to have earned
sl,417 73l, equivalent TO S225 a share,
or at the annual rate Of 50 a share.
New-York tribune., 1920-11-28
Sinclair Holder Feels Like Averaging

Ouestion-I have some Sinclair Consol-
dated OIL common stock purchased one
year ago at more TRAN double present
purchasing some now to get better aver
age price my stock The reports Of
the wells and additional output each
month give me considerable faith that they
are A progressive. going concern and some
day they Will pay dividends and be big
thng in the oil industry.-C. B.
Answer-That you hold Sinclair at
double it's present quotation is a fact
which has no bearing on whether you
should acquire some now. 1t may be
true that if you buy more and the
shares go up you can wipe out your
loss ir less perpendicular distance on
the sca.e than if you confined your
self to the first commitment But it
IS also true that if it fails your loss
will. be rcspondingly greater every
point down, and in that unfortunate
event you would soon begin to feel
like averaging again. The thing for
you to do is to forget your present
holdings for a moment and decide in
dependently whether Sinclair is a good
buy at the price at which it is offered
to you and affords better chances to
rccoup thnn other stocks you know of
which you can buy with the same
money. That Of course is specula lative
matter about which we cannot offer an
opinion. The Sinclair company is pro-
gre3slve, as you say, is o0erating well,
and we do not believe that the decline
in the stock has been caused by any
thing unfavorable in the condition of
the company.
New-York tribune., 1920-11-28
Risk Belongs to Buyer, Not Broker

Cuestion--I have heard quite good
deal OF what my friends call the Rose
plan Of purchasing stocka through Rose
& Co.. SO Eroad Street. New York City.
laying down one NTH OF their market
"aluc. and the balance in twenty equal
monthly payments. Regardless OF any
market dcprecia ia'ton, there are no margin
calls. Although these people advertao cX-
ons!vcly have failed to find their ad Ia
orma,ion which you have In regard to
weir reputation. | would appreciate any
such Information, AZ I am desirous OF
making commitment. and such a plan
would aid mo considerably. But hesitate
deal with firm that takes the risk Of
a stock that might have declined far below
the amount ne has paid on samc.--L. NJ.
Answer-If a broker advertises in
The Tribune it means that we have
looked him up and believe him to be
reliable. If h. does not land some
reliable ones do not) we do not at
tempt to pass on his merits, as rule,
for obvious reasons. In our opinion
it is not good practice for a broker to
guarantee not to make margin calls,
especially when the customers margin
is AS little as 20 per cent. Such thing
is not done by well managed houses,
Tor the simple reason that ii tie stocks
bought went below the margin the
burden and risk would fall on the
broker, where it does not belong. If
you are going to buy on the partial
payment plan you must take into con-
slderation the interest charges on un-
paid balances
New-York tribune., 1920-11-28
How General Electric Rights Work

t2rGntlon-i'i 1se advise regarding Cen
eral El ctric riehts TO be issued In Docrln-
Der As und"rstaNi tiVc rights cntitle the
l'0lter to buy cNc STARE of stock at par
SlOo. From whom? November II the stock
c.rs' ai SlI9 November II, on the curb
.''r :. lose at s227i.. Az understand
hve rights at $237i. equals sll.eO. plus
90, equals Slll.50. cost OF stock BY buy
inE riEnts instead of buying the stock out :
right at sll0-W. H. lie V
Answer When corporation gives
rights to stockhol olders it offers them the
privilege OF subscribing TO stock at n
price. If you are not q stockhoidcr you
may purchase the rights in the open
market In this case You would, to buy
one share. purchase five rights Your
hgurcs arc correct After the purchase
you send in thc five rights TO ihc com
pany proper y indorsed, together with
thc ca payment (Sl00) and you will
a'terward receive one share Of stock.
The present General Electric stock
quoted on the New York Stock Ex
chanre carries thnse rights with it.
December 8 the stock Will sell ex rights
and the price of the rirhts will bc de-
ductcd from the price OF the stock. You
would do better to purchase the rights.
New-York tribune., 1920-11-28
Wonders Why Stocks Decline

Cucs.lon-Do you consider Tho per cent
cunuat'e preferred stock OF the Atlantic
snd Incihc Tea Company a safe invest
rnrnt for woman? Can you cxrlain why
inc National Leather and Swift stocka arc
HoinI down NIL the timr? Would YOU adj
visr sei!in. or hoid!ng for Il higher mar
kct?-F y. NJ.
Answer-The Grent Atlantic and Pa
cihc lea Company has shown large in
crcasea in sales over last year, the in
crease averaging about as per cent.
We rrcgaHl the preferred stock as u
sound investment. Practically all stocks
of a speculative character have declined
owing to dcnation. Packing md
leather companies have shown a falling
on IN profits. Swift Il Co. and National
Leather common stocks are necessarily
speculative because they are 80 sensi-
tive to earnings We do not attempt to
advise upon spcculation II you wish
to place yourself upon n sound invest
ment basis you should purchase only
good bonds and mortgages and sea
soned preferred stocks.
New-York tribune., 1920-11-28
What We Mean by Speculative"

Cuestion--When YOU say stock Is high
~ speculative do you mean that the stock
goes up and down With the market. easy
to push up and easy to push down do
you mean the stock is not much good and
apt TO fail? ! notice in recent Tribune
business mans ist has Lehigh Valley.
Union Pacific and United Statca Steel com
mon. and YOU say these are speculative. bu'
sound. When you say q stock is sound do
managed. and not apt TO fail? DO YOU
consider Anaconda, Westinghouse Manu-.
featuring and General Motors sound? p
II. h. s.
Answer-We think you have misun-
derstood our ratings of certain securi
ties. The Tribune has frequently gone
into the matter of speculative issues.
All securities to which we give this
rating are by no means "apt to fail"
as You put it, The common stock of
the United States Steel Corporation
is. in our opinion, speculative, because
it is SO sensitive to earnings and other
developments. Yet the stock has great
potential value. It's book value. about
$24O, is far in excess of its selling
price. Before the war this issue was
paying no dividends. During the war
annum, and sold at over $3.50 a share.
Let us suppose you had purchased it
at that price for investment, as so
many did. WHAT has been the result?
At present they have a stock selling
at about $S3 a share, and paying only
5 per cont per annum. That is the way
with common issues as a general rule.
They are the ISSUES which reflect more
than any others the changes in bust
ness. They assume the risk 1t is quite
natural, then, that such stocks should
flTctuate over Il wide range. There is
mother important point; One person
may be abe to hold certain issues
which have speculative feature
whereas another should adhere strictly
to sound investment issues. If your
invested capital is to be $lO0 900 we
see no reason why few shares of such
stocks as Lehigh Valley, Union Pacific
or even United States Steel may not be
purchased. But if your capital is only
$4,000 or $4,000 you should not enter
this class, but should purchase only
good bonds and mortgages and seasoned
preferred stocks. A sound investment
is one which is so we'll secured both as
TO principal and income that it is not
SO sensitive to varying developments.
To be sure, even the best investments
fuctuate. Money and credit conditions
have caused large drop in the prices
of the very best bonds and mortgages,
Dut at no time have these securities
been in jeopardy. The three other
stocks you mention are speculative be-
cause they are so sensitive to earnings.
Westinghouse is, perhaps. less so than
the other two on account Of tEe nature
OF the business. If ones capital is
small he should not purchase such
stocks.
New-York tribune., 1920-11-28
Good Issues in 500 Pieces

observation-disclosures let me- have list OF
good industrial bonds which can he pur-
chased IN denominations OF $500 yielding
TO ! per cent, ma iurinS in n TO twenty
years 90 kindly advise your opinion on
stock OF the Lybeck Ocean Harvester Com
pany.--H. Is.
Answer The following bonds are
procurable IN 500 denominatons all
are we'll secured, in our opinion: Gen
cral Electrlc b per cent dcbcntures
1910, New York Air Brake first ncr
cent 1923. Bethlehem Steel first and re
funding 5 per cent 1912, American Tele-
phone and Telegraph collateral $ per
cent 1916. Bell Telephone of Pennsyl-
vania first and rcfunding per cent
1915. Cumberland Telephone and Tcle-
Graph "a. T. & T) S per cent 1897.
Montana Power first per cent 1898.
I.ybcck Ocean Harvester Company stock
is speculative