The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-12-03
FAMOUS ECONOMIST URGES BONDS
FOR INCOME At LEAST
ANOTHER YEAR.
Nothing Particularly Alarming About
psvelopmsnt-ChRrac OF
Depression Periods.

Discussing the investment situation
Roger W Bnbson makes the following
statement: dividend cuts have become
An every day occurrence and promiS" 10
continue at their present rate AZ least
another Year,
Last months payments on American
Industrial stocks, common and prcirrr'o'
were SS,l0OO00 less than In NoNehIpfI'
1919 and $4,000, 600 less than In N"Hem-
Der last year. This represents loss OF
aa.T per cent ar nearly one fourth com
pared with 1919 ami 1916 per cent or
Sne sixth less than last year.
There is nothing particularly alarm
Ing about such Il Development AS 1t Is
hut ono or the characteristics OF the
period of depression in every business
cycle.
The trouble lies in the fact that the
general investing public docs not seem
10 have been aware OF this fact. NJ l
GO about the country I am appalled, ny
lists shown me-~not only BY the WHO"
and unframed youth but by the man
who Is keen in hiI own business. ThtiT
isis ur "iuyrStm"utS' are general!
overloaded wi;h st"cks which ut times
nav dividends. ~hrE have counted on
These az income and arc very Seriousi!
cnlarra sSed as result of the cut III
dividends. Their unfortunate position Is
du" 10 their disregard "' It N''! '"'''
mental point;
Have An EssehWhi F1'o"' -
stocks have an essential place III our
financial structure. it"ou' ''C ~
mittmcnt Of some i"NuS |" '"e
production, transportation aiu NV,
chandi sing--buying G"odS win t"e "opI
OF selling with 4 prom I--""S'n'H0 ~
not lac done Ihe rur'h"S'' ~
and preferred STOCKS IL lui "'''''"n
money FOR these purposes MS So, ~
certificates establishes no oblga'i"h III
his favor but simply c'r''"eS nav ne
has prUportionhte interest III thf
business. He Is Il partner III '''' ~ o"U'
sense OF the word, and SUBJECTS MIA" IA
10 the risks "t rropr!et"rShip ana taxes
the profits when there are any one
should not enter into this position WIN
out realizing that he Is srec"!alihk;
"Iuvestmcnt one the ot"er nan" -
placing yTur money Tor dr''I'I' Wv.
come. The man VINO huHH r"'''
notes Is landlord III 'ho o'"'"e' -,
OF the term. IL" has I"Ahcu '"oie' ~ Wv.
concern and mas inorts"ke y" " ~
or It's real property. no mus -
his return whether tue p"H'Iie'" ''' 'i ,'I
prUht or not anu can ~, o." ~,
it's assets /" reimburse n''hSe'' .ot ''a
original investment II II Is he'esSar! |,
take such steps. ms money IL ''""Is !,
FOR definite period. II must DC Pa'"
pa'k az ".''',' -, <.,u-ra,, ot stated
agreed rch'aI must "' M II,
periods in the m'hhH'in"e' nc '
value or g"od bonus r'Hcs ~ - I a
asiis Income Will huS ''o' ~
clothes. not as u particular ''"S W
ness becomes more or Tess P'"','"''', :,
steady ana assured ih'".'e
detcrirrnd amount therefore '"Ne o
place If the uncertain proht o' ~ ''''''
due the storkho!nrr'
AS Speculation.
TO" many persons WI" want III ;"
INSTRUMENTATION believe 'h"E nav u" ~,
Veslment---arc holding on 10 So'''''''''
and preferred stocks from "hirh III. "'',
has ceased ana "h'ch 10, we
may not even b" good k"'n naro no.
some lines OF lnuuSuE nav