davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-06-05
Likes Short-Term Notes

Question have between $1,000 and
may no "Tes nesd tna favor notes
am IaVorably impressed with Empire Gas
si a,to + uei per cent sinking fund converti-
on. ona oond- secured notes, due June Is, 1924,
cent notes due at the same time. selling
around 50. Which is the better buy? Is
~ an absolutely safe Investment? VIII a
pdhk Iend money on 1t? To what extent ,
IloW nov does United States Realty and I'm.
provement 6s. due in 1924 at ST. comnaro
WIN IN these Empire Gas and Fuel issues
permanent tSan Govo To- 70 invest in an issue more
think of Empire Gas and Fuel pcr cant
Preferred erstirr at 85? Would you prefer Cities
,i' would Won per profan cent preferred at 81? Or
1929. at s7a, or Cities service dcbent,,rs Us,
e. per cents at So? Can an Anaconda
Ioppg[ prefera De OBTAINED in $500 denomination? !?
100 far off, and one that will appreciate in
value-E. A. l.. "pp' o''"'e l"
Answer - There is little choice be-
tween the Empire Gas and FneI &c ard
the Empire Gas and Fuel 6s due 1924
both are secured by the deposit of COL
lateral and there are $17,547,5OO nrior
hens outstanding. We would classify
the bonds as good short term invest
ments, but would not apply absolutely
safe either to this bond or any other.
pank would probably lend money on
the bonds up to so per cent, possibly
90 per cent Of the market price. If it
was your own bank, where you were
we'll known, you might get more. A
Stock Exchange house could quite GER
tainly get more than this on a call
money loan. We would put the United
States Realty and Improvement 5s in
about the same class. We would rather
have Cities Service per cent pre-
.ferred than the Empire Gas per cent
preferred. Anaconda Copper 6s, due
1929, come only in $1,000 denomina-
tions.
New-York tribune., 1921-06-05
Trustee Doubtful About Bonds

Question: have a trust fund of a little
over $4,000 invested as follows :o Three
Chicago. Milwaukee G. st. Paul general AIS,
one Chicago, Milwaukee & st. Paul re-
fundes Maafes ST. a0 Paul ope dabentSre GhenEG 4s
1919; two New York Central e. Hud-
son River refunding and improve,
ment 4s 2o1a; one pennsylyasia genera
present market prices. All of these bonds
are at present legal for trust funds in this
dition Whether the Baltimore & Ohio
and St Paul issues will remain 80 after
the two~year period from last September
whether trustee is obliged to sell issues
that cease to fulfill the requirements that
while they We're legal and In selling them
being obliged to take possible loss of
principal. The conditions of this trust are
that while security of principal and in
terest Is, of course, essential. it is also
necessary to obtain as large an annual
income as is compatible with these condi-
! have two Baltimore & Ohio convertible
ANS. 1888 and two Manhattan Railway As.
1890 bought at 68 and so, respectively, and
while not inclined to worry at all about
them at the same time consider it poor
business judgment to hold securities that
default in their interest. In my humble
mediate cause for thinking that the Bal
timore e. Ohio issue would default in it's
SSt' puS with tue tTdCllOn situation
it is do you think that the Manhattan
bonds and might do so?-H. b. M.
Answer--As to the legal question in
volved in the investment of your trust
fund, we are not in position to guide
you, but it would appear that you might
be somewhat safer in changing from
the Baltimore G. Ohio and Chicago,
Milwaukee & St. Paul bonds into the
new Northern Pacific Great Northern
g. per cent bonds, which at present
prices yield 67s per cent, and which are
convertible into Northern Pacific 6h
per cent bonds, which are legal, in the
opinion Of counsel, for trustees and
savings banks in New York State. The
New York City traction situation is so
confused at present that it is impos-
slble to express any opinion about it
founded on anything but guess work.
There are so many legal questions in
volved in the new law which have vet
to be determined that it is difficult to
form an opinion as to what the rela-
tlonshlp between the Interborougb
Rapid Transit and the Manhattan Eie-
waited will be in the future. If the
interborough can and does cancel it's
lease, it is, in our opinion, conceivable
at least that the interest on the Man
haitian 4s might be temporarily dis
continued.
New-York tribune., 1921-06-05
Canada Turning
To u. S. for Aid
Tn Manuf factures
Special Dispatch to The Tribune

TORONTO, May 21.-Confronted
with the fact of a reduced overseas de-
mand for their products resulting from
exchange and other considerations and
unable to finance sales abroad on cred
it, Canadian manufacturers are turn
ing to the United States as the great
est cash market for their products.
Exchange offers an unusual oppor-
tunity for development Of such export
trade, and many manufacturers who
never before considered sales in the
United States are now seriously inves-
tlgatlng the markets to the south. In
seeking such new export business
Canadian producers have the advantage
OF exchange on the item of labor cost,
lnasmuch as nominal wages in Canada
are at most no higher than wages in
the United States and the Canadian
workers are paid in Canadian currency
which is deprecated in relation to the
United States dollar. AS this fact be-
comes better understood, even COM
panles whose products are handicapped
by United States import tariff duties
ranging as high as 20 per cent are en-
deayorlng to secure export orders from
the United States.
The Dominion government is con-
sidering suggestions that Canadian
consular service be established in the
United States and that Canadian trade
agents be appointed to match the
ninety-three United States consular
agents in Canada. Such policy, If
adopted, may be accompanied by legis-
lation requiring that all invoices cover
ing goods exported to Canada must be
vised by Canadian consular agent in
the country of export. 1t is believed
here that Canada has been and il still
being used to considerable extent as
a dumping ground for manufactured
goods. At the recent hearings or the
tariff committee, Canadian manufac-
trrers bitterly complained that the
anti-dumping regulations did not func-
tion properly. Other undesirable prac-
tees also are prevalent. 1t is esti-
mated that of the $100000,000 of mer-
chandse stolen in the United States
last year about 25 per cent was ex-
ported to Canada There are, indeed.
retail stores in Canada which are be-
New-York tribune., 1921-06-05
Reader for so Years Asks Advice

ouestion--Having been a reader of The
tribune for more than sixty years and
your advice as to the United States ,of
Brazi per cent bonds, price o. u sold
by Dillon, Read & Co. according TO ad
vertisement IN your issue of May 16. They
the Northern Pacific and Great Northern
bonds ~ per cent at 96h. Also Ameri-
can Telephone and Telegraph stock, of
which 1 own u few shares and perhaps l
would subscribe for tho rights which will
be. allotted to mo by che company.
d. c. N.
Answer-We think that the United
States of Brazil per cent bonds are
good business mans investment. The
high yield is due to the fact that
Brazil's record for prompt payment
of interest has not been clean. We
consider the Northern Pacific Great
Northern joint Ga per cent bonds to be
high grade investment. We would
not advise the converting Of the bonds
at present either into the Northern
Pacific 61as or Great Northern Is. The
joint bond is secured by the deposit of
Chicago, Burlington & Quincy stock,
which, in our opinion, is a particularly
good collateral. If the joint, bonds
should be called you could then still
convert into the Great Northern rs,
which are non -callable until the due
date. 1886. We would advise you to
exercise your rights on the American
Telephone and Telegraph stock. The
fact that the company has done its
financing by the sale of stock to its
own stockholders is, in our opinion,
wise financial plan.
New-York tribune., 1921-06-05
His Dodge Probably Will Not Work

Question: own some Canadian VIC
tory 5a per cent bonds due Dec l. 1922.
which state that they are payable in
gold in Canada DO you krow Of any rea-
son why I could not present these bonds
at maturity In Canada and receive Cana
dian gold and bring it to the United
States, and thus save paying the high
rate of exchange ?-H. n. X.
Answer - Wartime legislation IN
Canada forbids the payment by bank
of gold, and also makes it criminal
offense to export gold without permis-
sion. If you should be in Canada when
the Victory SIS become due and could
show a sufficient cause why you should
receive gold, you could probably get
certain amount of your principal in
gold, but could not take it out of the
country. Of course, this law may be
repealed before December 81, 1922, but
the present price of the bonds would
not indicate that investors expect it to
he repealed.
New-York tribune., 1921-06-05

lieved to handle such goods regularly
and in so doing they are within the
law. Receiving of stolen goods is not
an extraditable offence, nor is it action
able under Canadian law unless the
theft occurred in Canada. The wise svs-
tenn, it Is contended, would check such
operations and moderate fees would
make 1t practically self sustaining.
canada is without single official
trade representative in the United
States, although this country has TWEEN
ty trade agents in other parts of the
world. The staff of the Canadian mis-
sion at Washington, originally created
to deal with trade matters arising out
of the war, has been reduced to four
persons, and for months these have
been expecting orders to pack up"
New-York tribune., 1921-06-05
Nibbling at Elgin Stock

Question-Would like to have some au-
IInoritatlve information concerning the
Eigin Motor Car Corporation, of Chicago
whether 1t Is safe and reliable company
10 invest IN any stocks-G. II. B.
Answer-We advise you not to buy
Elgin Motor stock. We have frequent
ly said that the Franklin Service Cor
poration, fiscal agents for this outfit.
are trying to sell the stock at several
market. 0T~'-
New-York tribune., 1921-06-05
Woman Doubtful About Bonds

ouestion-Would' you be good enough to
give me your opinion of the Virginia Caro-
lima Chemical Company 7h per cent. of
which L hold two $1,000 bonds? DO you
think it we'll to sell?-Miss l. Il. Nj.
Answer - The Virginia Carolina
Chemical 7la per cent is a good in
vestment in our opinion. The common
stock has already passed it's dividend,
measure which, of course, protects
the bondholders and indicates that the
company is careful of it's credit. Ii
you are prone to be nervous about your
investments, however, it would be bet
ter for you to sell and buy something
higher grade.
New-York tribune., 1921-06-05
Woman Asks About First Principles

Question: do not know anything about
investing During the war took sS,bOo
hold Since have bought 10 shares United
States. Steel preferred, 10 shares STANDARD
on OF New Jersey preferred, 10 shares
American Bank Note preferred. have
learned that stocks arc registered and that
persons receive the dividends by check. ]
would like to know IL bonds have coupons
those coupons can be caahed at any bank.
If so, would not bonds be a better invest
ment than stocks for u husband and wife
who pool their savings? am thinking o.
buying five bonds. $1,000 denomination.
Please advise II these are suithble; II not,
please substitutes Bell Telephone Of Penn
sylvania rs, 1915; Cerro de Paaco S. 1921
Sun Company dobenture Is, 1891; Diamond
Match dobenture 7s, 1885; Westinghouse
Tire and Rubber first mortgage twenty
year per cent sinking fund gold bonds,
1941.-Mrs. A. b. S.
Answer--Your choice OF preferred
stock is good. Bonds come both with
coupons and registered bonds. Coupon
bonds look much like your Liberty
bonds, and you can deposit your cou-
pons in your bank to your credit. In
making future investments we would not
if we were you let matter of minor
Importance such as convenience have
any influence in deciding the question
as to what to buy. However, we think
that with the good preferred stock that
you have now it would be good plan
to begin to buy some bonds. Of the
seven bonds you suggest we think two
are suitable namely, the Bell Tele
phone of Pennsylvania Is, due 1915,
and the Westinghouse Electric and
Manufacturing rs, due 1881. In addi-
tion to these two we would suggest one
or two Northern Pacific Great Northern
GA per cent bonds, due 1886, secured
by the deposit of nearly all of the
Chicago, Burlington G. Quincy stock.
These bonds are convertible into 61z
per cent bonds Of the Northern Pacific
or per cent bonds of the Great North
ern. We would advise you, however, to
buy the Northern Pacific Great North
ern joint bond, and not to exchange it,
unless you are forced to do so, by hav-
ing the bond called for redemption. If
it is called for redemption you still
have an opportunity to convert it into
either Northern Pacific or Great
Northern. As a fourth purchase we
would suggest the United Kingdom
5hs, due 1887, selling at a price to
yield little over per cent if held
till maturity. This is government
bond just as your Liberty bonds are,
except that it is issued by the British
government instead of the American
government. Your coupons, however,
are payable in New York, and you
would deposit them just the same as
you do your Liberty bond coupons.
AS fifth purchase we would suggest
the Standard Oil of California Z per
cent bonds, due 1881, recently selling
at 102h
New-York tribune., 1921-06-05
Bought Westchester Bonds at S3

Question--1n 1915 l purchased New
York, Westchestcr e. Boston A y per cent
first mortgage bonds at 49, Kindly advise
me if | should sell them at present price
M. w.
Answer-The New York, Westchester
& Boston AIS are guaranteed by, the
New York, New Haven & Hartford
but that company has very difficult
financial and operating problems ahead
of it. and unless the railroad situation
changes greatly in the near future it
is possible that the New Haven might
fail to carry out this guarantee. The
New York. Westchester & Boston is an
extensively built suburban line. with
its New York City terminus incon-
veniently located, and competing with
the Interborough Rapid Transit in
part of its business. We would advise
you to sell your bonds and invest in
something else.
New-York tribune., 1921-06-05
Holds Good Diversified List

Questcn--Are there any weak spots in
the encloeed list of bonds from the view
point of security? One thousand dollar
Central Pacific first As, 1919; 5000 South
ern Pacific as, 1885, $500 Northwestern
Bell Telephone Is, 1871; 1000 Ohio Gas
and Electric 6s, 1916; $1,000 Puget Sound
Power and Light 7las, 1941 $1,000 City
ham Company. N. c. 6s, 1941. If you can
suggest any change in the way of i'm
provement, / should appreciate the favor.
w. T. c. .
Answer-For a list Of seven bonds
we think you have picked out remark
ably good ones. The diversity of your
list is obvious and the two railroad
bonds are of strong companies. All
of the bonds are, in our opinion, we'll
secured.
New-York tribune., 1921-06-05
Columbia Graphophone Preferred

Question-Please let me know If you
think Columbia Graphophone preferred is
good investment. Do you think the com
pany Is IN position to declare it's regular
quarterly dividend this quarter Wv. G.
Answer-Columbia Graphophone de-
forred the preferred dividend for Julv
The company has been forced to make
severe cuts in prices. That fact and
general conditions combine to make the
purchase of luxury stock at this time
speculative, in our opinion. We suggest
that you consider some issue which is
more seasoned and not SO sensitive to
outside influences.
New-York tribune., 1921-06-05
Doubtful About Interim Receipts

Question--Through suggestions you have
made to others. 1 bought In April $4,000
in bonds. One OF the bonds ] purchased
series A. l received an interim certificate
In place of this bond. AS this is a new
experience for me am anxious to know
when the bonds will! be ready Tor delivery.
The house l purchased the bond of can
not give me the information.--R. B. b..
Answer--If you bought your Danish
municipal bond from a trustworthy
house you have nothing to worry about
in the interim certificates. They are
Just as good as a definitive bond for all
your present purposes, and it is not
Uncommon Tor securities to be long
delayed At the engraver', nor for g
broker not TO know when the bonds
will be available.
New-York tribune., 1921-06-05

The Canadian Information Service in
New York has taken some interest In
trade matters, but Colonel Cooper. the
director, has resigned recently and re-
turned to private business. No an
nouneement has yet been made as 20
whether the New York office will pe
closed.
New-York tribune., 1921-06-05
Getting Tired of Carrying Steel

United States Steel common, which rep
say nothing OF the loss in revenue resulting
from the low dividend rate. On this stock
tool, my loss to charge 1f In my neome
back immediately. 1 got back in around
81 y, which mention to show how ! will
my income return viii be affected. viii
you advise me whether, in your Judgment.
! should continue to hold to my equity
in this. stock in its present shape or sell
out and place the investment in some more
na had thopsht Of
cent preferred stock or bond issue yielding
per cent or better: What / would like
to 8 per cent. and be not only as secure as
steel common, but offer fully as good
Shanee s,n Of f in value Whs, do
Pacific \ Great Northern at 96, +? In
your reply give me list OF the best issues
advise me to hold on to the Steel. In
making your. reply please consider also
ment. as well as to be reasonably safe
guarded as to its security.-F. Il. NJ.
Answer--You have carried Steel
down the hill from 115 to s21a, and
though you bravely started up again,
you doubt if you can make the grade.
So do we. Things are entirely differ
ent now in the steel industry from
what they were when you bought, and
recovery may be matter of many
months, or even years. We suggest
that you get out and distribute your
money among Cerro de Pasco converti-
BILE IS, Sinclair Consolidated converti-
BILE 7hs, 1925; Belgian 71ss; United
Kingdom 51as, 1929, and City Of Copen-
hagen SIS, 1914. We think all these
bonds are safe as to principal and in
terest. They show good current yield
and their other features might, if you
were lucky, cut down your loss in Steel.
The Belgians are redeemable, $2,000,000
yearly. at 115; the Copenhagens begin
ming 1925 at 105, s per cent of the total
issue each year, at which redemption
figure you would have handsome
profit, and the British bonds are con-
veritable at any time into war loan 5s,
1929, but this feature does not become
attractive until the pound sterling goes
to $3.50. If it never went to that price
you would still be paid in dollars and
have yield to over per cent. The
Sinclairs are convertible into per
cent preferred stock and the notes ap-
pear to be selling lower than the ex
cellent financial position of the COM
pany warrants. These recommends
tions are made to fit your particular
case The Northern Paciic-Great
Northern IS are excellent, we think.
but they do not give so high yield as
YOU REQUIRE,
New-York tribune., 1921-06-05
Investment Information

Caestssns Of general intSrcst ts 8a-
cestsvs wslI bo dnspered in this cell
awn, en- sDhich case only smitiais .siM
Dc weed. Others piH DO answered ~
ssia A9dress oil imquiries, inctes-
iNg stamped, addressed envelope, to
FsmaHciai Editor. The Tribune, lSl
Nsssaa Street, Neto York City.
New-York tribune., 1921-06-05
British Bonds Are Tax Free

Question---on May 15, 1921. in answer to
w. II. W YOU state 'If, however. you
wish TO bo free from the English income
tax you can buy United Kingdom ~ per
cent bonds, due 1922 which are exempt
from all British taxes" Is not your
statement that these bonds arc free from
English taxes misleading IA such bonds
become taxable as w. E. V. takes
up residence In England? My under
only to persons residing outside Great
Britain. NJ j. Il.
Answer~We are informed by j. p
Morgan g. Co., who foated the British
bonds, that the United Kingdom 51a
per cent bonds, due 1929, are not sub
ject to British income taxes. even if
held by n resident of Great Britain.
New-York tribune., 1921-06-05
DIVIDEND NOTICES
AMERICAN Gan co.

A quarterly dividend OF one and three
Preferred Stock OF this Company payable
July list, 1921. to Stockholders OF reeera
at the close of business. June iesh, ia-i.
Transfer Books will remain open. ChecAs
mailed. r. IL. iSMoN.
Secretary ana Treasurer
New-York tribune., 1921-06-05
t.nba Faces The Problem of
Widespread unenpLoyment

HAVANA, May Il [By maid .Unem
osoyment is grave problem facing
Cuba. according to the Havana Post
@hich estimates that the closing of the
sugar centrals will increase those out
of work to more than 100000. There
are more than $4,000 unemployed in
Havana at present, the paper states
has been informed. with the number
Increasing as a result of the influx
lEom the county, districts.
New-York tribune., 1921-06-05
soIvay, Vacuum Oil and Packard s.

Question--Will you kindly advise me
how you regard the following as a safe in
yestment? Solvay & Gle, Vacuum Oil
Packard Motor Company, all per cent
bonds. Also. is the new joint issue of the
Chlcago, Burlington Quincy. the North
ern Pacific and the Great Northern, with
the privilege of conversion into general
mortgage rs, due 1886, of the Great North
ern, safe and good Investment? Also
are any of the dividend paying rail stocks
a good investment at this time, and which
would you recommend u. II.
Answer--We consider the Solvay g.
Gle per cent bonds as an investment
with good degree of safety. We
would rank the Vacuum Oil as safe and
the Packard Motor IS as a good busi-
ness mans investment. We think the
new Northern Pacific Great Northern
61a per cent bonds secured by the
stock of the Chicago, Burlington &
Quincy and convertible into Great
Northern rs, are high grade.
New-York tribune., 1921-06-05
Didn't Get Out Until After Drop

Question: note you are advising in
certain cases annuities and state that at
"a one can receive 0A per cent What
company will pay that? | shall be sixty
Tour IN August, am alone in the world
and am in delicate health. / hold shares
in Pennsylvania Railroad, Anaconda and
IN Utah. You advised me to get rid of
them. but owing to an illness | did not
get at 1t until after the drop. Ii | sell
now can | net enough to make my in
,erest S200 in an annuity? Anaconda
brings nothing. Pennsylvania only 4 per
hold on to them, but L need income
rather than future profits. Do you con-
slider d. r. knights a good invest
ment? l hold $4,000 in two bonds at 7
per cent. A. E n
Answer-At your age $1,000 will buy
an annuity of S97.S5 a year as long as
you live. That is 9.7S5 per cent, safe.
and decidedly higher than your yield
on the present securities or than the
yield on good bonds would be. The
question for you to decide is whether
you are willing to have your principal
go TO the insurance company selling
you the annuity at your death. At anv
rate. we think you ought to sell the
stocks you now hold They are too
speculative, and you seem to worry
about them. We do not pass on the
merits of life insurance companies
nor recommend individual com
panies. They are regulated by law.
surety supervised and can generally
pc regarded as safe. The B. B. & r
think. "'' VIC
The Fayette falcon. (Somerville, Tenn.) 190?-current, 1921-08-12


him to be good. II Sinciair-why not
two or three more equally trusy
sportsmeni Why not gang OF the
boysl
Toby possessed v. G.. and q good
one-for there are grades of the V.C-
and those grades are appreciated to
a nicely BY the recipients brother
officers II not by the general public
The show would at Toby Ike glove.
Then there was Ted Jern-
inrham. who combined the roles OF
an amateur actor Of more than aver
age merit with an ability to bit any
thing 1t any range with every con-
eeivahle type Of frearm- And Jerry
Seymour in the Flying corps. :
Not . had thing 10 have a flying man
Up ones sleeve. Ana pos
s,hly some one versed in the ways OF
tanks might come in handy. -
The smile broadened to grin
surely life was very good. And then
the grin faded. and something sus'
picssusly Ike a frown took lis place
For he bad arrived az the Carlton
and reality had cosne back 70 INN