New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-04
Advantages of Listed Bonds

Question: have frequently read your
advice to investors. but tho kind. number,
variety ns ETC. Of investments are bewildsr-
cial problem before you. sincerely hoping
you may direct me Alright. own my
Invested in our building loan and savings
association, about $4,000 In savings bank.
$3.50 in Liberty bonds, to which 1t is my
Ing below 90 Il have reference to the 4hs);
public utility bonds. McAlester Gas and
Coke Company. Little Rock Gas and Fuel
Company refundinE mortgage per cent,
due 1897. Ohio and Western Utilities Com
pany first lien collateral trust per cent.
pany isss Ohio Uties c Com S1 per
cent. Arizona Gas and Electric Company,
Southern New York Power and Railway
due 1888 Missouri and Southern Util-
ties Company and Port Arthur Gas and
are going through reorganization and I
am assured by P. w. Brooks & Co.. Inc.
Us Broadway. that the plans are going
dustral bonds OF Hart1e Paper Manu-
featuring fact COMPANY per cent; Frank Gil
sss5 o n stocks Three
twelve shares National Enameling and
Stamping Company common, eight shares
& Co., Inc, preferred per cent. The Ma
tional Enamelng and Stamping Company
stock have bought from ~ to AZ in two
i
stood that 1t was good industrial COM
mon stock. and I do not know of any
other way than to buy at lower prices
so that l may eventually get out even
or with profit. l know this is specula-
tion with a vengeance. The dividend Is
per cent? has been declared for this year
Would you advise buying of this
stock? a Regarding the public utility and
Industrial bonds l wish they were listed
foi they are not easy to sell. However,
they show quite good earnings. except the
Two going through reorganization What
do you think of my investments? Espe-
please name two three bonds that can
be bought in 500 pieces, listed. and pay
ing 6 to per cent? Name two or three
cent What l wish to do is to formulate
a plan OF investing in high-grade securi-
ties that pay at least per cent. Il pos
sible.-R. A. S.
Answer-lf we were you, we would
be inclined to invest in listed securi-
ties, for time at least, with your
future savings. You are evidently
capable of following the earnings Of
public utilities, and this is the safest
way to protect your Investments. On
the other hand, your securities may BIO
left some time to dependent who
knows nothing about investment mat
tiers and who would not know where
to sell some of the public utilities
which you hold if an emergency arose.
and while we think that unlisted bonds,
where a sacrifice of marketability is
reflected in greater income yield, form
valuable part of any investment that
is large, we think that it is unwise to
confine an investment wholly to these
securities, even though at present you
have cash enough in the savings bank
to protect yourself against an emer-
gency. We would not be inclined to
speculate anv further in Nations I
Enameling and Stamping common stock.
Southern Pacific San Francisco Ter
minal As, due 1850, come in 500 denom-
nations, and recently sold at price
to yield Cos per cent, and Colorado &
Southern refunding AVS come in $500
denominations. If you are subject to
income taxes, have you considered the
municipal bonds as investment? For
instance, you can get City of New
York 4s, due 1869, on 5.25 per cent
basis; City of Flint, Michigan. due
194l, on $50 per cent basis. and City
of Chicago As, due 1926, on a 6 per
cent basis.