New-York tribune., 1921-11-12
A First Grade Investment

A First Grade Investment
Quostion-Will you kindly forward mo
your opinion OF the New York Gas. Elcc-
trio Light. Heat and Power frat S. 1913?
| am particularly Interested In tho nature
OF tho lien and the rclaton OF net earn
lnss over a period OF years to the interest
rcauiiem"nts Of this issue, also your opin-
ION or the general credit of the company
ltH management and It's future In view Of
political influences which have affected
most New York utiites. have not seen
any sales OF this security on tho exchange
Does this past Indicate that the bonds arc
Closely held or thht there Is "A floating
supply without demand? The price at
would indicate the latter, and II this sup
position is correct why does tho floating
supp,y wnrph ex,st II II possesses the intrinsic
IL. G.
Answer-New York Gas, Electric
Light, Heat and Power Company first
os, 1948, are secured by first mort
gage on twelve power stations and a
mortgage, subject to about $23,000 900
OF prior liens, on thirteen additional
power stations, all located in the City
OF New York and supplying practically
al the electric light and current in
the Borough Of Manhattan. The com
pany's franchises are perpetual This
issue Is outstanding to an amount Of
$15,O00,000. These bonds are listed or
the New York Stock Exchange and
enjoy fairly active market, twenty
eight of them having been sold on the
exchange in the week ended October
25, the last sale being, at S9ts, at
which price the bonds yield 578 per
cent to maturity. They are a first
grade investment in our opinion.
Columbia Discount CORPORATION
Queston--Inclosed please find pro-
spectus OF the Columbia Discount Corpora
tlon trimmed down to fit the envelope
This type Of Investment seems to mo to
possess good qualities and aside from
present low yield and lack of marketable
ity would you consider it a good invest
hent for part of ones funds? am famll
Tar with the Straus and other bonds of this
type but this is the only stock OF the kind
| know of within a reasonable price, pos
sibly because Its being new company
but 1t seems very stabe-F. 'E. B.
Answer-We do not consider that the
STOCK of the Columbia Discount Cor
poraton is an appropriate investment
in an entirely different position
from the Straus bonds and other bonds
secured on real estate.
A Friends Advice
Question: would deeply appreciate
your advice on the following: About two
years ago inherited $1,000. and upon the
per at about So Shortly thereafter the
concern discontinued dividends and has
not not D paid any since, and the stock has
advised that "Coppers are coming
back and that In a year or two could
probably sell for a little more than pur-
wait for this distant time or sell now and
reinvest most of the money! am not In
dire need now, but would like to get hold
Of about 5000 cash. I i'll afford to
ment, but If these is no point in waiting
and the stock Is never going higher than
now, | might better sell now and have the
use OF the cash.-E. V. Y.
Answer-Like considerable numbe r
of people who write to US after they
have made an unfortunate investment,
you have suffered through not keeping
your investments and your friends in
separate pigeon holes. The question as
to whether you should sell your Chino
Copper at the present market price is,
in our opinion, to be determined en-
tirely by your own circumstances. If
you can afford to do without the income
and the use Of principal for an inde-
terminate period, it is quite probable
that you will some day be able to sell
your Chino for what you paid for it.
But no one can say when that day will
arrive. 1t is certainly some dis
tance off
Tel. and Tel. Better Than Some Bonds
Question-Will you kindly advise mo as
TO investing in bonds Of the Palmer
School of Chropractic Davenport Iowa ?
believe they pay per cent Is that bet
ter than American Telephone and Tec-
graph ?-R. NH
Answer-We should certainly prefer
the stock of the American Telephone
e. Telegraph Company to the bonds
of a school of chiropractic, looking at
the matter from the standpoint of an
investor.