davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
Youth Wishes to Avoid Mlstakes

Suestion-7-As i ain young man lust
but natural that desire to start right and
avoid making costly nlistakes. therefore,
should appreciate your assistance. I.
other month to buy ono 500 bono. or pre-
ferred stock. Ny first concern NIL DO 70
y sssS # nTs eadS
possibility 81 Appreciation, IN the. case %
bonds g. maturity appreashss. M, u,ra KY
inations, with 4 yield OF between and 2
auiremeats, something that / shall NOT have
to worry about? Woald equipment trusts
suit my PURPOSES, do you think? Ane what
rating boclts7 Ars they reliable ?--R. Il. II.
Answer--The new Northern Pacific
Great Northern joint Gas, due 1886,
con,c III $500 denominations and are
secured by the deposit Of the Chicago,
Burlington g. Quincy stock. United
Kingdom of Great Britain Ola per cent
bonds, due 1887, come in $100 denomi-
nations, and New York Central deben-
tuge Gs, due 1885, in 500 denomna-
tions. We believe all three of these
meet your requirements. Equipment
truatS usually do not come in $500 de-
nominations. Moodys rating books
should be carefully compared with the
current supplements, we are informed,
since tho book itself is published only
once year, and the standing of secu-
rites may change considerably within
twelve months. The rating of bonds
is difficult matter at best and the
rating Of stock even more difficult.
If you are going to give weight to this
opinion 1t might be We'll to compare it
with others, if you wish to be fully in
| formed.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
Should Have Taken a Short Term

Question invested $1,000 in Duquesne
Light bonds year ago last December for
my niece In view of the fact that it will
be necessary for me to use the money for
fer education in the future, / am anxious
TO know whether they Will again return to
par, enabling me to get full value? These
1949.--D. w. r.
Answer-The Duquesne Light Com
pany first and collateral trust 6 per
cent bonds, due 1949, are unlikely in
the near future to sell at par, in our
opinion. The present price of money
is between z and per cent, and while
these bonds are good, they will not
sell above the price of other good 6
per cent bonds presumably. In the
long run the price of money will be
lower and the market price of the
bonds higher, we believe. We fear
that you made g mistake in buying :.
long term security if you knew your
niece would need part Of her principal
soon.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
Features of Danish Municipal gonds

t9uestionz-Will you kindly tsly mo ,,,ait
Bonds Bonds lhe Danish consolidated municipal
now one could buy them and low INV NV,
pay dividends. My mother holds seventU.
a ano s Ma OF Pennsyiyana Railroad at 50
e,'im u; Vas considering these instead She is
d Wow and these and few other in ~
Nestrnents are her main support.--M 4. q
u Answer-The Danish Consolidated
MUNICIPAL loan, due 1910, is IN two
s9er1ies--serles A, Joint and several
opllgatlon OF the chief cities of Den
maih outside of Copenhagen and en-
o.a a2 ana series B, joint and sew
~ oDllgation of Copenhagen and the
a1o!ESlhlng town OF Fredericksburg, and
noIh series are guaranteed, principal
and interest, by the Kingdom Of Dan 1sfl
mark. They pay interest on Feb r
airy ] and August in United States
geld at the National City Bank. You
could bay them there or through anv
mouse advertising in The Tribune Thev
are listed. Like all government and
municipal bonds, their security lies in
me IN promise to pay Of the obligor.
Ihey are callable after 1881 at I07h.
and in addition 100000 annually are
to be called for the first five years for
the sinking fund and thereafter $780,
ooo. Up to February /, 1926, bonds are
70 be bought for the sinking fund only
II they can be obtained for less than
i01R: After that, however, the sink
ing fund provision becomes eomn,,I :
sorry and bonds ere called by number
at lQ71s., If Pennsylvania stock div
ldends are the principal means of sup
port or your mother we would advise
her to sell her stock and to invest in
ponds, which she now can get to yield
between and 8 per cent with high
degree of safety.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
Wants $4,000 Holdings Checked

ouestion--W What IL YOUR opinion of the
Enclosed list of seeuritiese Would you
suggest any changes9 $4,000 Adams Ex-
press Company per cent bends 1919 ,
$4,000 American smelling and Refining
preferred stack; $4,000 American weolen
Company pseiarred stock: $40 600 Penn-
stock $4,000 New York Central 4 Hud~
son River preferred stock; $4,000 West
inghouse Electric and Manufs curing COM
mon stock $4,000 Chicago, lock island s.
Saeiiio per cent preferred.--R. A. J.
Answer--ordinarily we would sug-
gest that an Investment of $4,000 be
diversified among more than seven is
sites. The fact, however. that YOU got
$4,000 of Your investment in Adams
Express collateral per cent bonds, due
laaS, and that this collateral trust bond
Is secured by the deposit OF some fifty
different issues Of railroad securities,
has an element of diversification. at
least among the railroads, that is good.
American Smelling and Refining pre-
ferred stock is at present selling at q
lower price than It is entitled to, in
our opinion, partly because of internal
dissension in regard to management.
TIE common has passed It's dividend,
which is the conservative thing to do
III view of the present state of the
copper market. american WOODEN pre-
fecred is essentially an investment
stock. Pennsylvania Railroad has cut
It's dividend and the continuance of the
q per cent rate is dependent on the out
conie of the railroad situation. The
stock is all common, not preferred. The
New York Central has been making a
better operating showing in the last
few years than has the Pennsylvania.
1t has no preferred stock, either. West
inghouse Electric and Manufacturing
common is q semi-spee ulative business
mans investment, dependent on earn
ings and dependent to some extent on
the rapidity with which business re-
covers and the ability of American
manufacturers to extend their market
in the foreign field. Chicago, Rock
Island & Pacific Z per cent preferred
is speculative in the sense that it is
dependent on railroad earnings.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
Grand Trunk Nes.ern A

Qpestion--Kindly inform me IL you con-
slider the per cent first mortgage bonds
Of the Grand Junk Western Railroad, due
lS e 9 SAT Investment. understand
me Ganadian government has taken over
this railroad and Is Responsible for In
terest on the bonds.-B. r. L.
Answer-The. Grand Trunk Western
first mortgage 4s, due 1860, are, in our
opinion, q good investment. They are
secured by q first mortgage on 327
mlles OF road from Port Huron, Mich,
ment is negotiating a purchase Of the
Grand Trunk, and the Grand Trunk
guarantees interest on the Grand
Trunk Western bonds. There NAV be
legal complications in regard to the
governments responsibility for interest
on the Grand Trunk Western bonds.
Put viewing it broadly it would appear
that this road will be needed ma # 81
TIE Canadian government railway svs.
TEN. ~
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
How Averaging Works Sometimes

Question: would like to have your adj
Indies. Of which 1 bought ten shares at
$40. ten shares at 2s and ten shares at
28hs They average $50 per share. Shall
! buy more to make lowr average or
shall buy ut the average OF s29. SO II that
stock has any show TO gain can get my
money back without loss?--J L.
AnswerYou are lucky you didn't
start few months earlier to buy Gulf
at about $50. You would have had a
lot more averaging to do. Your case
is a good illustration of what happens
to inexperienced traders who, when
they find themselves in wrong specu-
latiop, take refuge in more of it. 1t
increases your chance of getting out
even if the stocl.. glaves Your way, but
it increases your losses If the stock
moves the other way The stock is
gamble and we do not think you are
qualified to win on it.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
wants to Make a Few Dollars

oGestion - WIN you kindly advise me
whether Loews. Inc. at the present price.
about ii would be a good stock to BUY
ana hold on margin or outright What What
Was their par value when issued Wh MY
are they SO low, and why did lney pass
up dividends? I have never bong NJ any
stock before and have not much money y
Ia Invest, but this stocks looks soo s 10 W
,Y,s and would like to make q lew aoi.ais 7,
/ don't think they can go. any lower. /.
kaow man who patS IS ior 'tet''
a year ago.--H. II.
anawer--If. as your letter indicates,
.o,,' ~ rot know anything about Loew's
Incorporated stock, we do not see low ! "
YOU can expect to make few dollars 81 :
81 buying it. It is speculative. ~ W.
suggest that you put your money mo
scascned Investments and 40 not Wy
Is beat professional SPECTATORS az
their own game. That is what the man
you mentiQn did. The low price q, q
Ioew,s gto& reflects conditions IN tne
industry and in the company.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
Doubtful About Cuba Cane Sugar Bond

ouestion-I own $4,000 Missouri Pacific
As at 5s $1,000 Goodrich Is, W. 70 a es -
ss The only bonds that am IN the
least bit skeptical about are the sug ar
there any special reason for the path 1r
severe decline in these sugar bonds! DO
you think there Is any possibility OF their
ths principal is safe? II IN your opinion
the interest and principal are reasonably
age down the cost? I bought these bonds
on account of the then) high coupon rate;
/ am perfectly willing to hold them Until
1890 II you think the principal is sale
NJ L. IL.
Answer-All three of your bonds have
an element of speculation. The, Mis-
souri, Pacific is weak road, the Good
rich Is are obligation of tire COM
many and the Cuba Cane Sugar convert
IbIe rs. which are not secured by a
mortgage, is the obligation of COM
many whose stock has shown very
considerable fall in price recently. On
the other hand, the Cuba Cane Sugar
convertible rs are direct obllgarlon
of the company, and the trusF m
denture provides that the company shall
NOT mortgage it's tproperty so long as
any of the debenture bonds are out
standing. The company owns in fee
A34. s67 acres, and holds unler leases
1918 acres additional of sugar land.
The total outstanding Of these debent-
ures is s25, 100000. Besides sugar land
the company has sixteen sugar mills,
and in connection herewith owns ma
chine shops, stores, workingmen,s
houses, etc, and owns 726-mile rail-
road. of which more than half is stand
ard gauge. The price of the company's
securities is, of course, affected by the
severe depression in the sugar market
at present. While we would rate the
bond rs speculative the conoltlons
which YOU Law down are such as to per-
NIT YOU, in our opinion, to hold on to
bond to maturity without foolishly
speculating.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
Replacing Ones Leg with Ronds

-. Question-will you kindly give mo lief
my 'G rsht 10Y es $4,000 ortesn los,
chat is the reason / am havina, ago fb,s ana 10
invest | have 5000 in Liberty bonds ,nis 90 eg
hari1gs issues ISSUES but would like to have
Of 1 .ji1astins money with the exception
SO II + =. ~ e.. l haNe no permanent home,
could II te II nor nor asking too much I wish you
~ ~ poiluSa Tor tne. also collect the interast
, " .ien Que. Could you say If the GuaTantv
what YOU'D tbe W0o az. DO do this for and
atess? can still earn my living go 10 "a
,os shNe as high return for the nonew w's 81
p'sSipie "lth safety.-R. A. Ns
- A a of the large trust com
fo1. vo,, WI, TAKE care OF your bonds
~ ~ wv cut the coupons and credit
~ ~ l4noohs TO Your account. Several
ihey make a charge ACCORDING ~ lou ~
INDIVIDUAL requirements. and go W ene
oetter consult them as to ths 80 la rad
SET You can get between : and 3
per cent with fairly high degree Of
I SaIeIy az present market prices Of
nu!ius s. we suggest two Northern Pa
clfic,Grea Northern 6l% ner oaa a
bonds being sold at 9s1a, to Weld am
proX'mately Cts per cent sna "pa
would advise you not to convert thar,
ullIess they are called, and then 70
convert INTO Great Northern Is. which
you have the privilege of doing at r N.Y.
me Great Northern bonds are re- not not
caliable before maturity, 1896 This
IS also the maturity of the Joint az
Fer cent bonds. Two Standard al, ~
california Is, due 1881, selling at 1o1 Il
recently, which give you a current in.
! tsTest yield of 6.79 per cent, if held
~ maturity. Two Northweste Roll
Telephone rs, due 1871, recently sell
ing at 20; two New York Central CON
seft,ple dehenture IS, due 1885, re-
Sensly selling at 87h,, and two King
aoii OF Den m IS, due 1916, recently
Investment Of $3.50 and gives yo,,
s7lo a year current income. sN
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
The New French 71as

c,ues,iou-During the last few weeks l
have seen some mention of the new Issue
Of French government 2e-year y per cent
bonds Do YOU recommend these as an IN
vvestr,ant for one who has 500 in saw
ings account and wishes TO iny vest part
Of It in high grade bond? rms would
he Tho first Investment for me IN bonds
asher than Liberty bonds, of which | am
now holding $650.-C. U. NJ
Answer-Yes, we think that the
French twenty-year ia per cent bonds,
wh;ch are not callable until maturity,
aye rood investment suitable for part
If your S7o0. France has heavy bug
den OF war debt and many new and
difficult problems to work out, but her
credit has been of the highest and her
resources under the treaty are greatly
increased.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
Burns Brothers Common Stock

Que stion-Wou you oblige me by Civ
ing as much information as is in your pos
session concerning the common stock OF
Burns Brothers2-J. A. NJ.
Answer Burns Brothers have S.
$4,000 common stock outstanding on
which 10 per cent dividends are being
paid. Prior to this is $1,293 100 pre-
tered stock The only funded debt
is S166,5o0 purchase money obligations.
The balance sheet, as of December 81,
shows Sl,367, 172 cash ON hand with
Sl,677,471 accounts payable. In addi-
ton to the cash other current assets
include S3,986s648 accounts receivable
and $l.245,l73 inventories. Disregard
Ing the $4,957, 1873 Of good will, leases.
ETC., there is apparently from the bal
ance sheet about $50 a S100 share
OF net assets for the common stock.
In the fiscal year. ended March 81, 1921,
the company's net sales amounted to
S29,475,2 98 and the balance after costs
and depreciation was $3,2a2 ,345. After
the payment of preferred dividends
there was $1,66S, 498 available for com
mon dividends and the 10 per cent
dividends called for $s0S,517. The
earnings available for common stock
dividends were equivalent to $2O55 a
500 share in 1921. This was nearly
twice as large as the amount available
IN 1920. On May IL, 1920, the stock
holders authorized the directors to
conduct preliminary negotiations for
consolidation with some other large
distributor of coal, hut as yet there
has been nothing but rumors of a
merger with William Farrell g. Sons,
Inc
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
Woman Needs Safety, Chooses Wisely

Question: am widow and Will have
me income to for myself and chill
dren. L must be absolutely certain that
my capital will be returned my invest
ments mature. At the same time. ] think
I can secure an income of about per
cent and still have safe inve stments. Don't
you think 50? The income from these in
vestments will be my sole means of sup
port and, as a result, ] desire to place my
money in we'll seasoned securities. or Sc
cuIlties of which thers is no doubt about
you kindly criticize the following list and
see whether any improvements or changes
are needed? Two Government Of switaer-
land per cent due 1910, at 1925 one
95 three standard oil of New York z per
cent due 1925 and 1923. at 1ol; Bell
1916, at 101as; one Northwestern Bell Tele-
phone per cent, due 1914 at 98ss; one
Canadian National Railways per cent.
due 1915; one Kingdom of Denmark 8 per
cent due 1916, at 9sgs; one Virginia Caro-
lima. due 1871, at 81; one Wrestling house
Electric. due 1881. at ss3a; one Straus &
Puget Sound Power q Light Company Tx,
duo d, 1874; one American Agricultural
Northern Pacific-Great Northern S1a per
cent due 1896. Would You substitute any
OF the following for the previous bonds in
Tube per cent, Pennsylvania Railroad 6 "a
per cent, United States Steel sinking fund
b per cent, United states Rubber " per
cent, New York Central debentMres 6 per
cent, Canadian Northern per cent. n
linois Central equipment per cent. will
appreciate any advice or criticism you may
offer and, ii 1t will ever be in my power
to reciprocate will gladly do it.-Mrs.
T. B.
Answer-We agree with you that you
can get per cent with the degree Of
safety which you ask for in DIVERSE
fed investment. While we consider
both the American Agricultural Chem
ical 7ass and the Virginia Carolina
Chemical T rs to be safe, we would be
inclined, with the heavy responsibility
that you have, to suggest Chicago
Union Station Gas, due 1868, offered at
1o1. guaranteed principal and interest,
jointly and severally by the Chicago,
Darlington & Quincy, the Chicago, Mil
waukee & st. Paul, the Pittsburgh. Cin-
einnati, Chicago & st. Louis and the
Pennsylvania Railroad Company, in
place of the one and Pacific Gas and
Electric twenty-year per cent bond.
due 1sAo, in place of the other. Other
wise your list appears suitable. If you
have some reason to prefer New York
Central debenture IS, duN 1885, to the
Pacific Gas and Electric we consider
them an equally good bon
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
Two Strong Power Companies

to my inuurv avp rs,n u'a she rsletive In.
vestment values Of several public utility
bonds Ia very much appreciated md
noanh renest
for advice is not aaking too nuah i would
IKE to submit to YOU the auestions below.
faas u an asking more ,.nan seSt'g
shall not feei ,iissnsoin ai's, ul Purely
from the stand poins 81 safety and without
regard to yield Or activity IN the bond ND
n, MA'9n Waqn y1u eoilueF ~ Man.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
Two New Good Canadians

~, Question have been daily reader OF
me tribune for many years. VIII you
please give me your opinion OF the follow
ing bonds with regard to their safety and
Investment features? ] understand they
are payable in United States funds: City
Of Copenhagen 26-year 5is per cent, due
Alberta guaranteed bonds, issued by I.eth-
bridge Northern Irrigation District. so
year per cent, dated May 81, 1921, bonds
being sold by Ward, Gundy & Co new
issue 100000 Province of Manitoba TO-
year per cent gold bonds, dated May Is,
1921 being sold by Ward. Gundy & Co
E. S. Il.
Answer-The Lethbridge Northern
Irrigation District IS, due 1861, guaran-
teed by the Province of Alberta, are
a good investment, in our opinion. Both
these bonds and the Province of Mani
toba IS, due 1881, are payable, principal
and interest. in New York in United
States gold. The City of Copenhagen
twenty-fve-year SIS, due 1914, are a
good investment, payable, principal and
interest, in United States gold.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
Investor Demands H;eh Yield

Question-Atnong other securities hold
twenty shares B. +. Goodrich preferred
stock. Is this a good Investment? Would
you advise selling and switching into q
bond or bonds, as l need the income? /
would like il to be one which provides
greater security with about the same rate
or interest yield, Would ST. Louis &
San Francisco adjustment 6s, Cuba Cane
convertiole Is or Chile copper convertible
rs De suitable? II not, what do YOU sug-
bonds Just yeti f. NJ. J.
Answer--We would advise you to sell
B. +. Goodrich preferred and buy in
stead De Laval Separator per cent
notes, due 1881, OF Virginia Carolina
Chemical 71ss, due 1882 We think
that you are attempting to get a
higher yield than under present condl-
lions can be obtained with safety. For
instance, your Cuba Cane Sugar 7
yields at recent prices 1918 per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
Needs Money to Expand His Business

Question - Having read your valuable
suggestions the last two years on invest
ments, have managed TO save and start an
auto repair shop. also garage, which has
pad me over $50 per cent the last year.
NOW, have chance to OK pand to a much
pettef location. but have not cen, ugh
money. ! have been thinking of incorpo-
rating and making stock company of my
business. but don't really know much
about selling stock. ] can get the loan Of
say, $4,000 from one bank here in this
city upstate, but to take over this bigger
proposition / need at least $5e 600 or
$1,000. would like to have your opinion
ana II yeu know of broker who would
handle this proposition for me in New
York City.--M. j, Med.
Answer--lt would ba much better for
you to finance yoar garage through
your local bank or by finding local
partner than to come into Wall Street
and try to sell stock. We doubt if it
could be done. If it could it would be
expensive; $4,000 ought to help you
lot and provide for healty growth in
your business, but if you got 100000
yon might be tempted to over-expand.
Over-expansion in business some simes
produces the same effect that j. roes
in bubbles.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03

Qaestsons OF general interest to ;n-
oestors sei}e Be aass0ered an this cci-
ssfnn, -, schich case only initials piil
90 ised. Others toitl be ansmeYed BY
i'sost address all inquiries, inclos-
ING stamped, addressed envelope, TO
reoad'scsal Editor, The Tribune, 49,
Nassua Street, Mese York Caty.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-03
Alton alas Somewhat Speculative

Question-Will you kindly give mo your
opinion OF Chicago & Alton Sla per cent
heldins same? What are the chances of
same being paid at maturity TT. L. J.,
Answer-The Chicago & Alton first
lien 35as due 1850, are first mont
gage on eighty-fye miles of railroad
and q second mortgage on sos miles,
subject to S45,350,ooo Chicago & Alton
first refunding IS, due 1a49. We think
the underlying bonds, the IS, arc rea-
sonably sure to be met at maturity.
The future of the 81s per cent bonds,
however, is largely dependent on the
course of general railroad prosperity.
II the transportation act turns out as
Congress intended it should these
bonds will probably appreciate in value
and become fairly good investment. If
you want to take chance on the rail-
road situation you can hold your bonds.
Ii you want, however, to get an invest
ment without speculative elements, we
would advise you to sell them and in
vest the money in some one of the
bonds which we characterize in these
columns as high grade.