davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18
Borrowing on Bonds Risky for Him

Questlon-Acting on your advice T re
cchtiy purchased n $500 bond of each Of
c tne loslowing FRENCH TVS United King
, uom, Northern Pacific and Chicago, Bur
,,ii I'M Quincy joint and virginia Ca ro-
ma chemical Company. / would now like
Of nav o gen frfieize the following outline
now best to secure more good honds Of
to-day's prices: I own an interest in q
ii. 10 aa sii" and sales company which
mess assures me a steady position. NV
mouse In the suburbs is worth to-day STA :
wv. on which owe s4.SoO of which ss.5Oo
represents loans on life Insurance. policies
at per cent carry $4,000 life insur-
matnr, ot wh19n slo 900 is an endowment
borrowed 5000 Cat 8 per cent? and Tho
balance is straight life insurance. I now
nave about $1,000 cash to invest. and nv
pa .I suggests placing my present bonds
WI VII, n them as.c olateral a loan of about
$40. and with this purchasing more
&c cona Is "a, at the present pres. good prices. AS l
Can save about $500 per month | could nav
good portion OF such loan in three
months. and renew note for balance If
a a@is pan mes,a With your approval please
are. are suitable, and If so in what denomina-
ton they come: New York New Haven
Co., Hartford ,i. !, Railroad q think they will
Steei 's, 1885; Western Electric converti-
pie Is; Westinghouse rs. 1891 Or what
tara are , better with fair rate of in
terest VIII add that there is only wife
dependent in me- and have or try TO
nave good time we go along and at
the same time save something for tho
rainy day.. l.. D.
Answer-We would not advise thu
purchase of New York, New Haven g.
Hartford bonds. Whatever one NAV
think about the New Haven situation
one thing can be said with truth. We
think, and that is that the situation is
quite uncertain and a purchase of
bonds under such uncertainties he
comes speculation. The fact that
there is a wife dependent on YOU makes
all the difference, in our opinion. as to
whether you would be justified in bor-
rowing money on bonds as collateral to
nuy additional bonds. If you should
be taken sick for long period of time
would your salary continue indefinitely?
II not, we would advise you not to Dor
row money at the bank on your bond
as collateral to buy more bonds. There
Is chance that you might be both
without salary at the time that the
price OF the bonds dropped and YOU
would be required to put up either nd
ditional collateral or to sell some of
your bonds. The Western Electric con-
vertible rs and the Westinghouse Eles-
trio and Manufacturing rs, due 1891.
are good Investments, well suited for
$1,000 which3you now have to invest.
in our opinion e,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18
B. & o. Toledo Division DE-

:, Question-Will you kindly give me such
information as you can about the Balti-
more d Ohio, Toledo & Cincinnati Di-
vision per cent 1869 bond ?--H. H. E.
Answer-The Baltimore g. Ohio has
had hard time earning it's operating
expenses in the last two years. The
company has $74,910,175 prior lien 31as
coming due July /, 1925; 1924, 500
Pittsburgh, Junction e. Middle Divi-
sion first 31ss, due November /, 1925,
and $44,991 $50 Southwestern Division
first 3As, due July 1, 1925. The Balti-
more & Ohio Toledo Division first and
reminding series A 4s are direct OBJ
legation of the Baltimore & Ohio and
are secured by the deposit of bonds
which are first lien on 1923 miles of
road and a first collateral lien on
sixty-two miles additional There are
$11 ,OO6,20O of the series A as and
series 5s which are secured by this
indenture. We consider them bust
ness mans investment.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18
Norway IS Best

Question: am n superannuated post
master and have to live on the income of
about $40. 900. Therefore my investments
possible return and the least possible risk.
Am about to buy $1,000 bond and it will
o. be one of the three following: De Laval
sas City Power and Light Company first
and refunding mortgage series per
cent 1870; Kingdom of Norway 8 per cent
which would you recommend? Arc they
all good ?-H w. H.
Answer-Of the three bonds that YOU
name we think that the Kingdom of
Norway IS, due 1910, are the safest
and best investment for you. All three
are good investments, we think, but
you get higher yield with greater
degree of safety on the Norway bond.
IN our opinion, than in either of the
other two.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18
Chinese Hu Kuanr So

ouestic On August s. 1921, 1 bought
Railway Hu Kuang per cent, 1851 Tor for
which I am charged s4s75o, exclusive Of
interest and commission, which seems to
be according to United States dollars. win
l. get $40 year interest from the bonds
II not, 1t appears that | will not get about
10 per cent yield. as expected, price paid
4S%; My impression has been that the
pond Is handled according to prevailing
rate rate or EXCHANGE on the day purchased
ana not IN dollars Has the Chinese gov
eminent ever defaulted on its bonds?-
L. j. D. NNe
Answer-You will not get $50 a year
lnterest on your Chinese sterling per
cent bonds. You will get the rate of
exchange of the day on London for the
coupon in English pounds. The Chinese
government has high record for meet
ing its obligations, and its credit is
good. Your bond is apparently 200
pound bond, and in that case you will
get 10 pounds a year interest. What
TINS will be in dollars will vary from
time to time as the rate of exchange
varies. "se
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18
Selling Victories Sometimes Advisable

QuestionWe would appreciate your adj
vice and opinion on the following PROPOSE
ton: We have 100000 of United States
Victory bonds and have been advised that
1t would be a good time to turn them for
q, higher yield bond and have been offered
the following: First mortgage 15-year 8
per cent sinking fund gold bonds of the
Salts Textile Manufacturing Company of
Bridgeport, Conn, at 99la. and Portland
Portland. Ore, first and refunding mort
gage gold bonds 25-year 7la per cent
Series A. non-callable during the first
ten years These bonds have been recon-
mended to US as being strictly high class
security and readily saleable at any time
IN addition to these Victories. we have
substantial lot of other United States gov
eminent issues, but which are advised
are yet too greatly deprecated to appear
would be your opinion as to that and also
the other bonds mentioned? Could you
suggest anything better. giving higher
ness safety? What would you think of
American Telephone and Telegraph COM
mon stock In case Of this kind which,
we understand, pays per cent?-E B. S.
Answer-We think that American
Telephone and Telegraph common stock
(there is no preferred) is good bust
ness mans investment. If YOU have q
substantial amount of other United
States government bonds you might be
justified in selling $4,000 United
States Victory bonds and investing in
other securities. Neither Salts Textile
sinking fund IS nor Portland Railway
Light and Power are as yet listed on
the New York Stock Exchange, and
while we think both of these bonds
are a fair investment it will depend
on the degree of readiness of market
ability which you want as to whether
or not the bonds are suitable for you.
An actively traded in bond listed on
the New York Stock Exchange can
generally be sold within one or two
days notice at less than a point off
the last sale, whereas on unlisted bonds
1T is sometimes necessary to wait con-
slderably longer than this, or to take
a difference of two or more points.
We agree with you that we would not
sell the government issues that are
selling far below par. Two bonds that
are more readily marketable and are
thoroughly safe, in our opinion, SO far
as Investment can be safe, are North
ern Pacific-Great Northern 61ss. Sc
cured by. the deposit of Chicago, Bur
lington Quincy stock, due In 1885.
and Western Union, 61as, due 1886.
both listed on the New York Stock Ex.
change and actively traded in.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18
Fur Sale Opens Tomorrow !,

The annual fall sale Of the New ~. i,
Fur Auction Sales Corporation - =.
open tomorrow morning in the Aass4,.
Temple. Interest in the sale 10 ~
among local raw fur men and naahs',.
turers. The goods to be sold have ~
inspected by several hundred buye's 3
the coapany's warehouses, ana 90
logs have been marked by ahe prospsr
tive buyers with the amounts they !.
prepared to bid on special lots. ss s;r-
ment in the trade inciinas TO M AIS
tenance Of present prices with 800 sscsd
advances on some of the EocQs - 4
in demand at present.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18
No Business To Be Done in
Westchester Next Wednes,Ea

Westchester real estate men are to
be the guests of the Briarcliff Realty
Company at big outing of the West
chester County Realty Board, to be held
at Briarcliff Lodge Wednesday next.
An attendance of over 200 is predicted.
The day will start at 10 a. m. A stunt
program has been arranged, starting at
1915, under the direction Of Robert
Turner, chairman. At IL o'clock a big
baseball game is scheduled, and at
O'Clock lunch will be served. The golf
tournament is to be handled by Wag-
ner Van Valack. starting at 2:30.
Tennis, under Chairman nj. S. Clark,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18
Investment
Securities
nEYWooD BROOKS & co.
lHS Broadway New Yorl
Converters Hold Low pr;ces
l4s Broadway

Local cotton goods converters. ex-
cept In few cases, have not advanced
prices OF spring wash goods that they
ers and garment manufacturers. nj
though. they say that increases in
prices appear imminent. For goods
already stocked on in process the con-
verters are asking the prices set upon
the goods when the spring lines were
opened. AS yet the converters have
not followed the raw cotton and UNI
finished goods market up to it's present
levels, but they feel that higher PRIZES
will have to be paid for their raw ma
teriaIs than were paid for the gray
goods already processed. Some con-
verters last week reported more buy
ing of wasi, goods, particularly from
the large retailers.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18
A Comparison of Issues

Question-Will you please rate the fol
towing bonds for safety? Are they all
high grade Phi. e. S.
Answer-Brooklyn Edison IS, 1919:
Northern States Power 5s, 1941; Kan
sas City Southern IS, 1850; United
States Rubber SIS, 1947; Midvale Steel
5s, 1886; International Mercantile Ma
'rine 6s, 1941; Du Pont de Nemours
TVS, 1881; Southern Railway general
4s, 1855. We have arranged your bonds
in the order of their security, in our
opinion. We would call them all good
investments and the first three high
grade investments.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18
Three Funds for $4,000

Questlon--In about weeks time snail
constant reader of Tho Tribune and your
financial column may l ask your advice
w,sn 70 ana ake feel that they
should yield on an average 7'or u per
cent think II would be wise to invest
only In bonds---W. C.. III.
Answer--We presume that you want
to divide the $4,000 equally between
the three funds. For your wife we
suggest high coupon rate bonds, that
she may get her full income during her
life. Northwestern Bell Telephone IS,
due 1871, recently selling at 102% !;
Brooklyn Edison general mortgage
series d Is, recently selling 1T 101;
New York Central 10-year collateral
rs, due 1880, recently selling at 1925 ),
Kingdom Of Belgium IS, due 1941, re-
Gently selling at 101N; and Kingdom
of Denmark IS, recently selling at 102.
For the son and daughter we would
bonds with yield Of to III per cent,
If held till maturity. For one fund we
would suggest Northern States Power
first and refunding 5s, due 1941, re-
Gently selling at 80%; Pacific Gas and
Electric General and refunding 5s, re-
Gently selling at 81; Lackawanna Steel
first consolidated 5s, due 1885, recently
selling at 1874; st. Louls-San Francis
co prior lien As, due 1860, recently SELL
ing at 62b, and United Kingdom Of
Great Britain 5hs, due 1887 recently
selling at 88as. For the other fund we
would suggest Bush Terminal Building
first 5s, due 1860, recently selling at
rs; Adams Express Collateral As, due
1913, recently selling at 81; Denver &
Rio Grande consolidated as, due 1885,
recently selling at $685. Colorado &
Southern refunding and extension 4hs,
due 1885, recently selling at rs, and
Kingdom of Sweden per cent bonds,
due 1889, recently selling at 88.
Safe Rail Bonds Do Not Pay 8 Per Cent
Question-Will you be kind enough to
send me list of safe railroad bonds pay
ing on to-day's prices about * to per
cent?-P. II. B.
Answer--Safe railroad bonds are not
paying as high as 8 per cent. The fol-
lowing arc safe, in our opinion, and
pay about 6 Y per cent or better: Illi-
nois Central secured 61h per cent
bonds, due 1896, recently selling at
1909; New York Central convertible
debenturc 6s, due 1886, recently selling
at 92h; Northern Pacific Great North
ern joint SIS, due 1896, secured by the
deposit of Chicago, Burlington &
Quincy stock, recently selling around
par, and Louisville & Nashville Sc
cured rs, due 1880, recently selling at
1O4.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18
Harding to Receive Traffic Men

President Harding will receive the
members of the Traffic Group of the
National Retail Dry Goods Association
at their fall meeting in Washington.
October and Z. according to an an
ncuncement of the program made yes
terday.
Standardization of MANY of 4be
methods used in the traffic and de-
livery departments of the bic dry
goods stores will be the subject Of adj
dresses and committee reports during
tha two-dav meeting. 80
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18

Answer to Question 4-When al
broker buys stock for customer
who deposits with him an amount that
is less than the price which the broker
pays for the stock, the customer has
bought con margin" Ordinarily the
customers purpose is that of making
profit without first paying in full
for the stock. For example, he might
ask the broker to buy share of stock
which is selling at 80. Believing that
the stock will go to 800, he deposits
SIS with the broker, who buys the
stock. If the stock does go to 80, he
can instruct his broker to sell, and
make $40 out of deposit of SIS. But
the stock is as likely to 60 down. If it
declines to 70, the broker would I'M
is, another deposit Of cash TO protect
him, as the broker holds the stock in
his own name instead of the custom
er's name. But it may so happen that
the customer has no more money. The
broker then "sells him out" or throws
the marginal stocks overheard" and
charges the loss to the customer. Buy
ing stocks on margin is a questionable
luxury which should be confined to the
rich, who have an adequate reserve
supply of cash to protect themselves
against being sold out, or to the or
binary gambler who has the same at
titude toward the stock market that he
has toward the racetrack. 1t would be
worse than folly for you to under
take it.
Answer to Question 5-stocks which
have c" in the dividend column are
n Ot navinU dividends
Answer to Question Grading on
the Stock Exchange is in the nature of
bargaining. One broker may bid 70 for
United States Steel common. Another
broker may offer the same stock to the
first broker at 1874. The stock is then
quoted "78 bid, 1914 asked; or, "7S@
7SR." Usually the sale is made by
each party compromising his posi-
ton. In the case above, it would
probably be made at 78A. These "quo-
tations" are taken at the close of the
days trading and appear on the ticker.
They represent the last "bid" and
"asked" price of the day.
Answer to Question 8-The figures
"8s" or cts" after bond represent the
rate of interest which the bond bears.
General Electric debenture "6s" are 6
per cent debenture bonds.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18
Investment Information

Questions Of general interest to sn-
cssfors spiii DO anssosrcd in this coll
u'mn, III ,phich cbse Only initials tcill
DC used. Others wiu BE- ansWered BY
mail. Address ak inqairies. inclos.
sng a stamped, addressed envelope. to
Financial Editor, The Tribune, l54
Nassau Street, Nc,e York City.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18
Balanced Stock and Bond List

Question--Will you please give preferred
stocks you consider as investments Safety
of principal and marketability are essen
order of safety first Also please give
list of several bonds arranged In the same
order. l have about $4,000 invested. as
follows: Ten shares of Marine preferred at
u Y, twelve shares of American Telephone
& Telegraph at 100, five shares of Amer
lean Smelling Refining preferred at TN
l wish to invest about $4,000 additional In
preferred stocks and $1,000 in bonds: Do
you think the proportion of stocks to bonds
Is corrcct?--C. G.
Answer-The proportion of stocks to
bonds is all right, we think, if you Sc
lect the right sort Of stocks. Your In
ternational Mercantile Marine pre-
ferred is highly speculative, and your
American Smelling and Refining pre-
ferred is speculative rather than an in
vestment. We think that American
Telephone and Telegraph common is
good business mans investment. In
order of safety and marketability we
suggest Standard Oil of New Jersey
preferred, American Car and Foundry
preferred, American Locomotive pre-
ferred and National Biscuit preferred.
For the investment of $4,000 in bonds
we suggest Canadian Northern per
cent debenture, guaranteed principal
and interest by the Canadian govern
ment. due 1910, recently selling at
103A; Northern Pacifc-Great North
ern joint 63as. due 1895, recently sell
ing slightly above par, and Brooklyn
Edison Z per cent general mortgage,
Series d, due 1941, recently selling at
about par.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18

starts at ii o'clock and continues all
day. c. B. Griffen is chairman of the
baseball committee. The outing will be
held rain or shine.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18
Has $4,000 TO Invest

Question: wish to thank you for past
Would you kindly advise how approM-
mately $4,000 may be invested as the
sole source of income of widow? Tho
% IS also 'sy Se lhaa R.
income be as large as be obtained
without With sacrificing safety and without con-
be maintained over period Of twenty to
thirty years.-L. x.
Answer-We would suggest that the
$4,000 be divided among the following
bonds, which have safety of principal
and uninterrupted payment Of interest
as the first consideration in their selec-
ton: Brooklyn Edison z per cent, gen.
eral mortgage, Series B, due 1910, SELL
Ing around par; Chicago Union Station
1851; Northern Pacihc-Great North.
ern joint 6Hs, due 1886, recently SELL
ing at little above par; Northwestern
Bell Telephone first mortgage Is, SELL
ing around 103as, due 1911; Pacific Gas
and Electric general and refunding IS,
due 1912, recently selling around 1871;
Virginian Railway first IS, due 1862,
recently selling at S31h; Southern
Pacific convertible 4s, due 1929 on
which the conversion privilege has ex-
pired, recently selling at 81, yielding
712 per cent if held till maturity;
United Kingdom of Great Britain 81 s,
due 1887, recently selling at 81; Danish
consolidated municipal IS, due 1916,
recently selling at 100h; Western
Union Telegraph 61a per cent bonds,
due 1885, recently selling at 98%, and
United States Rubber first and refund
ing 5s, due 1947, recently selling at
TIN. We have included in this list
one or two shorter term bonds because
we think that it might be of advantage
to have chance to make a reinvest-
ment OF some funds between 1880 and
1910.
List of Prime Mortgage Bonds
Question-wil you kindly furnish mo
with a list of bonds, with descriptive ms
ter OF each which will average around 6
I per cent IN net net return? should like
cipal Is absolutely the first consideration.
Long time bonds secured by first mort
gage on either some OF our leading rail-
ferable.-II. G. r.
Answer-We suggest the Niagara
Falls Power first IS, due 1882. recently
selling at S8M, yielding $50 per cent,
current interest and 6.52 per cent in
come If held till maturity. They are
a hrst mortgage on an electric power
plant at Niagara Falls and on about
l,25O acres of land adjoining the town
" niagara, leased to manufacturing
plants using electricity, and on sub
stations and transmission lines, etc.
lineage Union Station 6ls per cent
bonds, due 1868, secured by a frst
mortgage on the Union Station at
Chicago and guaranteed seyerally and
jointly by the Chicago, Burlington &
Quincy, the Pittsburgh, Cincinnati.
Chicago g. ST. Louis, the Pennsylvania
Company and the Chicago. Milwaukee
g. st. Paul; the Southern Railway first
consolidated 5s, due 1894, secured by
first mortgage on 1,52S miles of line
and first collateral lien on 522 miles
additional, and in all direct lien ON
3 AL miles, and Virginian Railway
first 5s. due 1862, secured by first
on approximately the entire
MAR, line of the Virginian and es-
sentiai coal roads.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-18

Officers Of the New York Merchan-
disc Fair yesterday announced Feb
ruary 20 to "a as the dates for the Feb
rnary fair (which will be held in the
list Regiment Armory.
The New York herald., 1921-04-17
HOUSES TO LET. UNFURNIsHED.

FOUR story and basement brown stone
front nine spacious rooms, also large front
basement room and large kitchen in rear:
building in one of the most fashionable resi-
dent sections of New York and one of the
most desirable localities for high class
business such interior decoration spe-
cialty shop. ready for immediate occupancy.
Call Mr.. LIE GRANGE. 1903 East 57th st.
Plaza 412.
The New York herald., 1921-04-17
BUSINESS PLACES WANTED.

CCGtNV2R building wanted to lease. with
stores: state rent desired, receipts and time
ot lease; principal only. II o0s Herald. Her
aid 50.
oFFpCE wanted, downtown section, 12xl4
space, suitable for drafting. VIM. BUDGE,
l50 Nassau ST.
WILL purchase or lease garage. J $50
Herald. Herald 50.
The New York herald., 1921-04-17
westchestcr.

IN heart OF business section. above National
Drug Store, SUITE ROOMS IN office build
Ing, suitable for dentist, halrdressing parior
or otfer establishment; FLOOR SPACE, COX
CO. IN office building, suitable clothing, shoe
store other line OF business: alterations TO
sUit tenants.
n. SCtTECTER.
l2-t4 South sth av.,
Mount Vernon. ~. Y.
The New York herald., 1921-04-17

APARTMENT; BEST LOCATION PARK
Az: 8 ROOMS 3 BATHS: PRESENT
RENTAL $3.50 MONTHLY; WILL suRLET
4 MONTHS, UNE-OCTOBER, $3.50 MONTH
LY. WRITE 650 HERALD, HERALD SO.
The New York herald., 1921-04-17
REAL ESTATE-EUROPE.

LAKE OF GENEVA. Beautiful country
place. $4,000 square metres. FURNISHED
VILLA. Modern comfort; use of outhouses
FOR SALE. eventually TO be let. Apply
ETUDE BURNER, Notaire, NYON (Switzer-
land).
LARGE building for sale. Marseilles; suit
ablc for bank. Apply to POINSTEAU, 1l2
Monteau. Marseilles (B. du Rh.) France.
SIZE. 200 sacrifice. must be sold-Palatial
villa, with two independent stables, each
combined with garage and servants quar-
ters; also two small villas: all In park of
acres OH Rose Hill. overlooking the beauti-
full city of Budapest the Danube. Was
valued In normal times at $500, 900. White
Mr.. b. JANOWSKY,
254 Carlton ST.. Toronto.
The New York herald., 1921-04-17
Washington, ID. c.

AN exceptionally attractive 2 room
nished apartment: French duplex:
garden; bedrooms. baths and serva
rooms; near clubs: immediate possess
REAL ESTATE INVESTMENT CO..
Conn. av.
The New York herald., 1921-04-17
APARTMENTS = UNFURNISH
From Battery to I4th St. IncIusiy

FTUm Battery 70 IFth 81, IncIusN
FIFTH Av.. 25 WASHINGTON SOU sU
SECTION). IN THE NEW IL ST SLIT
BUILDING. WONDERFUL FOUR ROS.1
CORNER APARTMENT ON 7TH FLOOR.
BEDROOMS. LARGE LIVING ROOM
WITH OPEN FIREPLACE. KITCHEN.
$500. SEE MISS wITHNELL.
GREENWICH VILIAGE.-Two and three
room apartment TO let nice location. con-
ycnient 10 Christopher ST. subway and all
surface lines 81 Grove 81. Tel. Spring IT,.
WEST i2TH. H.-MAGNIFIcENT APARTMENT
OF THREE ROOMS, BATH AND KITCH-
EN-. FURNISHED OR UNFINISHED; Df-
RECT TELEPHONE; MODERN IN EVERY
RESPECT. CHELSEA $50.