davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-02-06
Going to England to Inrest

. QueSl!oh-l am expecting to 20 to Enr
!anu 20 IlFe. have 81 0, 600 TO lnyest 7
want 10 know tho safest and hest Va r :
investing II, collectible in England 7
nave strong idea OF Investing IN Norwa
glan or Danish bonds l noticed f. u,
MeeNs pack that you recommended Nor
"eElah bonds 10 party that was rofnr
pack 70 England. to live, like myself Ca5
1 do any better than buying pounds here
IN New York and then buying intArnaI
poHus over there, or could you enlighten
ltte IN any other way to make the bast
Oh lt. want to place i where :, know II
Is "psoIuteI% safe and where I can get the
most interest-E. NJ s.
Answer-For your purposes we think
any Of the internal British loans Are
good You could convert your dollars
INTO sterling and upon arriva! in Eng
Iand purchase the bonds. The Nor
"eS!an bonds payable in sterling are
good IN our opinion, but the British
londs are better. and they eniov =
W1der market. The Central Pacific
European loan 4 per cent 1916. whjcb
are payable either in sterlin" or francs
at the option Of the holder. are Well
secured, guaranteed by the Southern
acltic. Phey can be bought here now
Tor about 81 to return about ner cent
3 year. You have three chances for
appreciation in principals: Rise in the
price of the bond appreciation in
sterling and the calling Of the issue
by the company at par.
New-York tribune., 1921-02-06
Car and Foundry's Resources Large

Cnestion--Will YOU kindly advise me as
10 your opinion of Endicott johnson com
mon, aiso American Car and Foundry
common ?-R. l..
Answer--We class Endicott Johnson
common stock as speculative. The
present company was organized in 1919
TO acquire the property, business, as
sets and good will of the various En-
dlcott johnson concerns engaged in the
manufacture of leather, shoes, etc. The
common stock, of which there is SIG
39o,U OF $50 par value outstanding.
mas not yet been able to prove it's earn
ing ability on the basis of the present
capitalization. The stock has shown a
VIDE range of fluctuations during the
last year, indicating it's market insta-
olIlty. American Car and Foundry is
SIrohg company, OF long standing, and
ltS common stock is one of the few
JUNIOR stock issues which approach a
good lnvestm ent rating. The COMPANY
has been we'll managed in recent wears
under President Woodin. Large special
reserves have been accumulated in re-
cent Years to take care Of common
stock dividend requirements. In Sep
IemDef' 1919, the company announced it
mad increased the common stock divi-
dend reserve from $4,000 to $40.
8eoO'oOo, or sufficient to provide for
three years dividends at the rate of
~ per. cent The dividend was in.
creased from an annual rate of s per
cent to II per cent at that time. In the
year ended April 80, 1920, the company
reported surplus available for the
common CO stock equal to 27.67 per cent.
Inc year before the surplus for the
common stock was 1924 per cent and
IN 1918 30:61. IN considering American
Car and Foundry for investment one
must understand that the railway
equipment industry has slowed down in
recent months since railroads are Inv
ing on a hand-to-mouth basis bv reason
OF the falling off in railroad traffic
which is resulting in u piling up Of idle
cars. This is bound to affect the carr
lngs Of the equipment companies in
course of time. 40
New-York tribune., 1921-02-06
A full coiun,n of inuess~
nsens questions and nnsscers
Us published i'm The Tribune
eUcry sceekday.
Sligo Bobs Up Again in the Suburbs

. ,sr. ,9gest,on--I have ,reeeived your letter
Toont a,,, the .,' steoS OF Sligo Iron and steet
from the party trying to sell me tho stock
You may use this letter as you like ex.
eSpting that would not care TO have my
mamie brought cut in publtc.-L, l.. A
Answer -- Last summer The Tri-
bune printed the statement # Presi.
dent barley, of the Sligo Iron and Steel
Company that, based on the und rwrit.
ing price, his stock should not be sold
tor more than about $6, and NOT long
sitter that NJ. A Collins & Co., of 1893
Broadway, who were selling the shares
over the telephone for $l4, let up on
their campaign and changed the name
OF the firm to Albert &. Wilson & Co,
which thereupon set about selling a
stock of even less merit than Sligo
called Aetna-Sewan Coal. Lately Sligo
has bobbed up in the suburbs the
sellers possibly holding the theory that
no one outside of Manhattan reads The
Tribune. The foregoing letter en-
closes missive from the Charles j.
King Company, 20 Church Street, New
haven, urging l.. l.. A. to buy Sligo
and billing him for $625-twenty-five
shares at $25. Last month one of our
readers was asked by 8 salesman for
Il. ,. Zimmerman 4 Co, 2 Lomhardy
Street, Newark, to buy the same Sligo
SWIM 4oA . lC q snare. AIter consult
ing The Tribune he turned the sales
man down, but refrained from doing
him physical injury because he was
over seventy y3ars old. The thinner
man outfit gets out a circular dated
last April telling of prospective profits
OF $4,000 a month from the Sligo
iron mill, 1t mercifully draws veil
over past performance, the Sligo plant
having been in existence for ninety
seven years. AS d matter of fact, it
never has been a money maker. We
are thus confronted with the spectacle
OF Sligo stock quoted in the unlisted
market at about S3. the underwriting
price about Sd, the telephone price S14,
the Newark price SIG, the New Haven
price $25-all at practically the same
time. The investor has two safe
guards--never to buy stock unless he
is independently informed of the in
tegrity of the seller (for a decent man
is not going to sell you So stock for
SIC or $3.50, and, second never to buy
stock unless he knows what the mar
ket for it is. Marketability carries
with 1t the element of publicity 1t is
lack of information which permit a SIS
asking price in Newark and one OF S25
IN New Haven. We suggest that the
newspapers Of those two cities. and
their charb bers of commerce lend a
hand in putting out OF business men
who employ such tactics.
New-York tribune., 1921-02-06

Fears Stock Salesman VIII Bite Him

Question: would like TO ask your
OPINION ON an investment, that Is, the
hiBln Motor Corporation of ChicXgo.
FRANKLIN Service. 30 you think II advts-
ahle, as | am worltinK man and don't
want TO get bitten by these salesmen7-j d
Answer~-lf, as you say, you read The
tribune, you would know that we do
net rate Elgin Motors stock, as sold by
the Franklin Service Corporation for
Sl6 share, as good investment. Ell
gin pays no dividends and it's par value
is $40. The SIS represents 80 per
cent premium. Why the extra $6 is
tackled on we do not know If any one
asked you $3.50 share for Studebaker
(the same premium as the Elgin price
represents) you would question his
sanity, for that stock is selling under
oo, though paying 81 dividends. What
makes you think the gentle stock sales
man is going to bite you? Have you
been bitten before?
New-York tribune., 1921-02-06
speculating With Others Money

Question-Will you please tell mo what
tho National Holding Corporation isP Is
good, reliable company and how often
DOES II pay divldeuds7 What is its ad
dressI Sold by Securities Service Com
8.
Answer-The National Holding Cor
poration was organized to trade in
stocks and bonds with stockholders
money. A representative of the com
pany informed us recently that it had
been hung up with some long stocks
in the bear market, which has lasted
more than year now, and consequent
ly was not profiting on trades. No re-
port of earnings or financial condi-
tion could be obtained by US Few
men will undertake the responsibility
of speculating with other peoples
money. 1t is q scheme which it is
always we'll for the investor to shun.
New-York tribune., 1921-02-06
Trustee Should Be Conservative

Question-Would be glad for your opin-
Ion on the Steel and Tube Company OF
per cent gold bonds, series c. dated Janu-
ary !, 1921. due January /, 1861. as TO
and safety Of principal are factors of prime
importance.-P. Y. c.
Answer-Steel and Tube Company Of
America general mortgage bonds are
very fair investment, but it is our
opinion that the greatest care should
be exercised in the purchase of securi-
ties for trust funds. You have duty
Of the utmost Importance to perform.
Therefore do not be attracted by high
yields, but consider only the bes
Issues, these that are we'll secured and
seasoned. Liberty bonds would appear
best for your purposes. We think the
heirs would be grateful to you.
New-York tribune., 1921-02-06
VIII Swap Japanesea1as for Rubber 5s

Question: contemplate the exchange
or i've japanese government second serits
~ per cent bonds OF 1925 for a CORE
spending number OF United States Rubber
bs; reason, security of principal May /
ask your opinion of this transaction p
A. r. G.
Answer-It is d difficult matter to
give proper ratings to many foreign
government loans, Japan has always
enjoyed good credit, and we know no
present reason why her obligations are
not sound Yet there is the chance Of
political complications, thus rendering
the bond more or less speculative.
United States Rubber bonds are well
secured, The issue is large one, and
more bonds may be issued Neverthe-
! less, we believe the change you sug-
gest is good one, for the United
States Rubber Company is e good earn
er and has managed to 90 through
the period of deAation thus far with
good results.
New-York tribune., 1921-02-06
Curb Prices Firm
In Quiet Trading; g;
Sn1all Gains Made
Most Of Active Leaders Are
in Better Demand and
Register Advances in the
Short Session Of Market

Prices were frmer in quiet trading
in the short session Of the curb mar
ket yesterday. Most of the active lead
ers registered small gains as demand
for stocks improved. 1t was generally
accepted that covering by shorts for
over the week end formed the greatest
part Of this renewed inquiry.
Intercontinental Rubber moved up
b to Is and Durant Motors sold close
to 19, with a net advance of 4s. United
Retail Candy was weaker, however, and
dropped $5 to 82s.
Most of the oils were steady at un-
changed prices or slightly higher. Mar
acaibo was up nearly q point at 1875
and international Petroleum held at
1913.
New-York tribune., 1921-02-06
United Kingdom Bonds Sound

QSestion-Wiu You kindly give nc your
opinion as to the safety OF the following
bonds? United Kingdom 5la per cent
bonds, 1922, selling around %: Baltimore
y Ohio Railroad convertible "a per cent
due 1898, selling around 65; Chicago, Mil
waukee & ST. Paul per cent, selling at
~, due 1925; Sinclair Consolidated Oil
Corporation 5-year second convertible 7ll
per cent, due 1925, selling around 81. What
are the investment possibilities hf the
above issues and are they apt to be paid
when due? would also like to secure
your advice on North American Pulp and
Paper. Would you recommend this TO q
conservative investor7--G. II. S.
Answer-United Kingdom bonds are
a sound investment, in our opinion.
Baltimore & Ohio convertible Az per
cent and st. Paul debenture 4 per cent
are not Of the best grade. Much de-
pends upon the operation of these two
roads during the next two or three
years. Neither has been doing we'll
of late. but with the new railroad
legislation it is our opinion that the
bonds are safe enough for the average
investor. Sinclair notes are well enough
secured, but oil securities Of this class
are not of the best grade. That does
not mean they are low grade; in fact
we know OF no present reason why the
notes are not safe. North American
Pulp and Paper stock is too speculative
to be considered a good investment.
New-York tribune., 1921-02-06
Exchanging Rankers' Shares

Question-Why should Cities Service
Bankers SO shares sell higher than l-l0
of the regular common? Doherty gpm-
pany is advising holders Of Bankers to
sell and buy common.-R. $. r.
Answer 14he Bankers shares sell out
If proportion to the common. because
there is better market for them and
because the stock dividends are cashed
and distributed monthly. 1t is we'll
recognized. principle of market action
that when an issue is split and traded
in the same market with the whole, the
parts will sell out of proportion. On
the other hand, we do not see any ad-
vantage to the holders of the Bank
ers' shares TO compensate for the in
creased cost, and The exchange is ad-
visable, in our opinion. The security
of the two issues is exactly the same.
Bankers shares are simply receipts
for tenths of common, which have been
trusteed with the Bankers Trust Com
pany by Henry L. Doherty & Co. Taey
are not interchangeable.
New-York tribune., 1921-02-06
Seeks High Yield-wiu Watch Stocks

Questton--Will you please recommend
three or four good preferred stocks (pref-
erably industrials) for $1,000 invest
mcnt, for all practical purposes? But am
willing to forcgo purcha@e OF the very
best IN order to get return Of si2 or 8
per cent. can watch the market and
keep myself informed. Would also care
for a bond to yield per cent or there
aoouts.-P. j. b.
Answer-You cannot get bonds of
the highest grade to yield 8 per cent.
The International Mercantile Marine
first and collateral 6s 1911 at about 81
yield close - that figure, however.
They are we'll secured. Cities Service
preferred is earning its preferred divi-
Gends By q wide margin. 1t yields
more than per cent. Other preferred
stocks which might suit you1 purposes
and the risks you are willing to take
are: American Cotton Oil 6 ger cent
preferred to yield 9.4 per cent, Ameri-
can Smelling &, Refining per cent
preferred to yield 8.5 per cent, New
York Dock pr cent non-cumulative
participating preferred to Weld ia
per cent, Standard Gas & Electric pre-
ferred to yield about l. per cent. You
might also consider Anaconda Copper
6s~t929 and Is 1929 to yield 8.16 and
$40 per cent and Sinclair Consolidated
: US 1925 to yield 1910 per cent.
New-York tribune., 1921-02-06
Must Watch for Called Bonds

Question: have been a regder Of The
Tribune twenty years or more and have
taken a keen interest in your investment
Information column. and as a result, have
purchased a number of long term securi-
ties with which I am very well satisfied
putting same away for pure investment
Kindly advise me on adYisabliity OF pur-
chasing $1,000 or $1,000 OF Adirondack
Power and Light Company hrst and re
funding, due March l. 1850 for pure in
vestmeut, safety to be considered. of
course. I notice many bonds they are
caliable at different dates. II the bond OF
a small investor is called how Is ne to
know 1t? Is he notified by the company
or must he watch the financial columns Of
daily papers and does it make any dif-
ference II the bond is listed on the Stock
Exchange or not &c. r. c.
Answer-The Adirondack Power &
Light bonds are we'll secured. The COM
pany operates in a growing territory
and we believe earnings will be suf-
fcient to care for all charges. You
will have to watch the advertise ments
for called bonds The fact that bonds
are listed on the exchange makes no
difference
New-York tribune., 1921-02-06

worthington Pump Preferred B

Question-Do you consider Worthington
Pump and Machinery preferred per
cent good investment? Have dividends
been paid regularly and the finances of
the company on Eound basis u. c. T.
Answer-The Worthington Pump and
Machinery Company was incorporated
in April, 1916. The preferred B stock
has paid it's dividends since July, 1917,
and they have been earned by com
Portable margin. The stock appears to
be rather attractive as business
mans investment. The company's net
for 1920 showed some falling off from
1919, when earnings were at the rate
of s17.28 common share.
New-York tribune., 1921-02-06
Tempted to Buy Central Conner

per CONTAIN Of Xrizona 't has been ,It sug
gested 30 mo as good buy, although
highly speculative. The stock at present
is SLING for 65 cents "a share and sub
scrptions are limited to 500. This fea-
turc leads me to believe that the enter
prise is not a wildcat scheme. VIII you
kindly advise what you know of this com
pany and II their mines are at present
producing copper ?--R. Il. J.
Answer-The Central Copper Com
pany is not producing copper because
it cannot do SO at profit, at present
prices. We fail to see why nom
dividend paying common stock of this
kind, par value so cents, should be
selling for 80 per cent premium, when
Utah Copper, paying Sc, sells at Al
per cent discount. There IS no market
for the shares. Do not take the 500
limit so seriously.
New-York tribune., 1921-02-06
jewelers. Anticipate
Normal Spring Trade

Jewelry salesmen, after a delayed
start, are now on the road with the
spring line. A few reports which have
been received from statesmen indicate
that light spring business is being
done. In some sections Of the South
statesmen report the depressing condi-
tions improved, while the condition Of
the trade in most parts Of the country
IS said 20 be rapidly approaching nor
NAL.
The feeling in the trade is that the
lane of depression is now nearing the
end. Leading factors exprasse1 the
opinion that a normal spriffa business
will be done.
New-York tribune., 1921-02-06
Estimating His Chances

Question-Do you think I am taking
much chance If / buy the following Sc
curtties? Twenty-Five shares American
Telephone and Telegraph at 90, 10 shares
Delaware q Hudson Railroad at 100, %
shares Cuba Cane Sugar preferred AT So
preferred at 54. 25 shares Mackay Com
pauies at 5912, 10 shares New York Ali
Brake at 80. 10 shares Pierce Arrow pre-
ferred at 73 and 10 shares White Motors
at 40.-H. q. T.
Answer - American Telephone and
Telegraph is a very fair investment fol-
q business man. Delaware & Hudson is
also entitled to such rating. The
others are speculative in varying de-
grees. Much depends upon your po-
sition. Perhaps these stocks are cheap
and will rise. That we cannot tell
about. However, all are more or less
sensitive to earnings and other de-
velopments. For conservative invest
ments we do not recommend them.
New-York tribune., 1921-02-06
St. Pant European Loan Speculative

Question-Do you consider the following
securities safe: Southwestern Power ana
secured gold notes due 1871. Series Il,
Middle West Utilities Company per cent
secured notes, due 1910: Chicago. Mil
waukee s.. Paul Railroad European
loan As, due l92o?- {.
.Answer-None of these issues is
high grade. But the two public utility
companies appear to be operating well
enough. and we know Of no reason why
the notes are not safe. However, they
DO not enjoy good markets and are not
conservative investments. A good deal
depends on what proportion of your
capital You put into such issues The
st. Paul European loan iss subject to
fluctuations in foreign exchange. The
bond is equally secured with several
other issues, but the road has not op-
Grated well lately. The bond may offer
speculative investment opportunities.
New-York tribune., 1921-02-06
Inter-Meta Selling at Ahaut %

question: have a bond. 81, 900 AZ De,
poitsn' on which no interest is being paid
" ~ you tell me II it is OF any value o.
Answer - Interborou gh- -Metropoli
q "a per cent bonds, secured by Inter
borough stock, are now selling for
about ~ per cent 1t is necessary for
5intero0rough Rapid Transit to pay at
interest can be paid on these bonds,
as the stock is deposited in proportion
Of 500 to each $500 of bonds.
New-York tribune., 1921-02-06
His Cuban Bonds Have DenrscistAd

0uoetion-I have two Cusan 41b De,
cent bonds bought at 50. These are now
quoted as low as 62-G3. kindly give your
H. A 4.
wer-Cuba, like many other coun
tries which enjoyed prosperity during
the war, has now found itself in a
somewhat peculiar position. This gov
ernment has appointed a commission
20 investigate Cuban affairs. What
the result will be we cannot tell. How
ever, we know of no reason why the
d 41a per cent bonds are not safe enough.
New-York tribune., 1921-02-06

WAoHINGIUN, Feb. 5.-Ihe New
York Central Railroad Company was
authorized to-day by the Interstate
Ce mmerce Commission to issue 81 .0o0,
600 worth of refunding and improve
ment mortgage bonds and to pledge
them with the Director General as Sc
curity for a demand note OF like
amount covering additions and better
ments during Federal control. The
bonds are to be dated last April l and
Will mature October /, 2013.
New-York tribune., 1921-02-06
Bonds Tex Exampt in PENNSYLVANIA

Question-Wln you kindly name me q
and listed either on the New York or
Philadelphia Stock Exchange? List not
To il Iclude the following (about which [
already know: Reading General As,
PENNSYLVANIA Railroad issues Lehgh Coal
and Navigation consolidated 4l2s, Phila-
delphia Electric FIRST 5s Is there an issue
of bonds by the Lake Shore q Michigan
Southern Railway tax free in Pennsyl-
Vaula? Are the Central Railroad of New
Jersey. as tax free in Pennsylvania p
$ II II.
Answer-The following bonds are
tax free in Pennsylvania: Lehigh Val
ley Coal 8 per cent, 1898; Lehigh Val
ley Railroad general consolidated per
cent, A 12 per cent and per cent 2003
Lehigh Valley ten-year s per cent,
1928; New York Central-Lake Shore
collateral 313 per cent, 1898; New York
Central Michigan Central collateral 312
per cent, 1898; New York Central de-
benture 4 peg cent, 1884, 1912; New
York Centrals Railroad consolidated 4
pent cent, 1898; New York, Chicago &
st. Louis first 4 per cent, 1887 and the
debenture per cent, 1881; Lake Shore
& Michigan Southern first 3 II per cent,
1897, and the debenture per cent,
1928 and 1881. Central Railroad of
New Jersey 8 per cent are not tax
exempt in Pennsylvania.
New-York tribune., 1921-02-06
Doesn't Like His Broker Any More

Question-Iu 1919 was induced to buy
100 shares of Curtiss Aeroplane common
Tor which I paid $40 a share was told
TINS Company was to pay reasonable divi-
dends, or per cent, but no dividend has
been declared. The last quotation l heard
OF was about 81. Is there any prospect OF
TINS company's stock ever being of any
value or near the value of what I paid ?
Also bought at same time 220 shares OF
Hayden Chemical, with same assuranct
from the broker--it would be a good divi-
dend paying stock. paid $3.50. This
money I thought I was investing. ana
not speculsting. Would you kindly give me
your opinion Of the future OF thes. com.
panies? | can i'll afford to loae this money
and my opinion Of the broker under the
circumstances IL which I bought these
stocks, naturally l. not of the best as he
has never come near me since the pur-
Chase.--J- u.
Answer-The Curtiss Aeroplane and
Motor Corporation, which is controlled
by the Willys-Overland Company, was
compelled to suspend operations last
summer. The reason given was that it
could not compete with imported
planes, which Congress refused to ex-
clude, Buying war boom stocks like
this one and Hayden Chemical is specu-
lating, no matter that the broker tells
you you are investing. We cannot pre-
dict how either company will weather
the readjuStment process.
New-York tribune., 1921-02-06
Leaving Securities With Brokers

Question--Kindly inform me ii he.4fol.
lowing method g good practice, or should
l take the stock 10 a safe deposit vault
l buy stock outright and ask my broker
to hold same to my credit The firm is
first class and issues regular statement.
showing my hoidings,--H. S.
Answer-lf, as you say, you are deal.
ing with frst-class firm, there is nc
reason why you should not entrust
your securities in it's keeping.
New-York tribune., 1921-02-06
Fears to Carry $500 Downtown

Questiou-I'or como time I hnve wanted
t. buy Liberty bonds bu. DO not know
small savings bank IN The Bronx, but they
refuse to buy the bonds for me. l am
afraid 10 carry the money downtown, even
Il | knew whore to go. II you VIII kindly
tell me just How | am to proceed ] Will
BE- very grateful The fourth issues are
very low now. l would like to buy now
(Mrs) NJ. q. H
Answer-Shop around among the
banks in the Bronx and find one which
will sell you Liberty bonds. After you
have learned the exact cost go back to
the savings bank and draw that amoun4
Take check for it. If the check were
stolen from you it would do the thief
no good. With the savings bank check
you can take up your bonds--and we
hope you get home safely with them.