davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-07-31
Wishes He Could Get Ont Whole

Question: take the liberty to ask YOUR
advice on the following: Last fall | read
IN New York papers of possible mergers
between different railroads. | unfortunate
~ purchased 100 shares of Erie first pre-
terred at $50 per share. sum Of money
representing many years of saving This
STOCK IS now selling at about SIS. and
would like to ask your advice whether to
sell 1t and take the loss now or keen
1t. or buy some other kind of low price
rail in its place; for instance Baltimore
cago, Milwaukee & ST. Paul, ali common.
TO be able in time sooner to get my money
back than waiting for Erie first preferred
10 get back to my purchase price of $50 per
snare | read good deal about the great
prospects or copper stocks; how about In
spiration or Anaconda? My main object
Is To get out of the stock market as soon
as possible once ana forever without any
loss If possible,--W. \.
Answer The time to get cut of TIE
stock marke: I. - - now, and .nless
rs. IS tss :: ~ you selecs the chances
are sf-o..t,;f against your getting out
until -: nave lost everything you
c""'d save. To our mind your lettcz
IL. -a.~s that you haven't the ghost
chance as Spectator and il makes
no difference whether you are specu-
lating - make up loss or speculatinr
Ter profit. We would advise YOU to sell
your stock and put your money in hirh
grade foreign government bonds. such
as Swiss IS, Denmark IS and Nor
way IS.
New-York tribune., 1921-07-31
Using Securities to Buv a Home

Question: own 1000 Belgian SIS, $1,000
Vacuum on Company Is $1,000 Libert VS.
IV% shares Atchison common. five shares
1h'ted states Steel common the stocks be
ing purchased III June at above present
prices | viii have TO use S2500 of this in
TO sell the stocks and some OF the bonds
10 set 1t l am in business not dependent
upon income from Investments hut in
terested In building up my savings. an of
whlch excepting my home, are represented
oy 'he above Which securities would you
sen under the circumstances ?-P. 7. b.
Answer-Your Atchison and Steel
are somewhat speculative, especially
the Steel, the one yielding YOU rs per
cent and the other 60. We do not see
anything attractive about holding them
Tor man in your position You could
sell them for about s770, which would
sui leave Sl,730 to be raised We sug-
gest that you take two, or perhaps all
three, of your bonds to the bank and
make demand loan for that sum,
putting up the bonds as security. You
can pay off all or part of tha .osn ss
any time. Use your savings to this
END. The coupons on your bonds will
take care OF the ..tcreot or the bar
loan. If you have no bank account
you may not be able to do this, but a
man ought to have bank account be-
fore he begins 10 buy bonds, in our
opinion. Banking connections have
many uses, which, we think, are we'll
worth the profit the institutions make
on your balance.
New-York tribune., 1921-07-31
Chile Copper SIS

riSies Guestion-rWill you please give me your
opInlon or Chile Copper mortgage rs. due
1929, recommended by Carpet l.. Bregcr
IN IN mne M Financial World? l will have
$4,000 in few days that ] would like to
invest Tor two or three years, and if this
is Il sale one would suit me fine.-M T. H.
Answer-Chile Copper rs, due 1928,
are selling at a price to yield over 10
per cent if held till maturity. The
copper business has gone through a
serious period of overproduction, and
while we think that the worst of the
situation is over and that stocks of
copper are fairly we'll liquidated, we
would rate the Chile Copper rs as a
business mans investment. 1t is Sc
cured by first lien on the entire
$l,O0O,0o0 stock of the Chile Explora-
ton Company, which owns extensive
copper mines in Chile. The yield in
dlcates some uncertainty on the part
OF lnve stors probably as to how the
would not advise you to put your whole
$4,000 into it.
New-York tribune., 1921-07-31
Good Investments for Business Woman

Question-What do you consider the best
type or investment for business woman
, VINO depends entirely upon her own earn
my capacity? win you please give your
. per cent bonds. due think, 1891, and
srench Republic IS, 1945? Can these be
bought In single 500 bondso Has tho
Northington Pump and Machinery Com
pany any high class bonds long term !?
Nould YOU give me the names of some
ooher ooar reliable long term bonds, about
1870 45 ?--S. o. c.
Answer-Wc think that we'll
diversified list of bonds, with fcw
nigh grade preferred stocks, is the
best type of investment for a bust
ness woman who is entirely dependent
on her own earning capacity. West
1nghousc Electric and Manufacturing
per cent bonds are due May i, 1881,
ana are, in our opinion a good in
vestment, but they come only in $500
ana $1,000 denominations. The French
IS are a good investment, and come
IN S100 denominations. The Worthing-
ton Pump and Machinery has no bonds
OF ITS own outstanding. United King
dom Or per cent bonds, due 1887. re-
Gently selling at 85a louisville e.
Nashville unified As, due 1910. recently
selllng at S0h; Virginian aRilway first
55s, due 1862, recently selling at 81:
Northwestern Bell Telephone rs. due
, l94l. recently selling at 99M, and
racine Gas and Electric general and
refunding 5s, due 1942, are safe, in
our opinion.
New-York tribune., 1921-07-31
Averaging Proves a Costly Process

ouestion-kindly give me your opinion
on stocks of American Ship and Com
merce. October, 1919. purchased. on
margin, twenty shares of this stock at
4o'4 Have since accumulated total of
one hundrded shares and have averaged
saine TO l9A. DO YOU advise me to buy
more more al the present bid to reduce my
average &C. W. B.
A,nswer-Averaging takes good
dcal OF speculative skill, and we be
heve that as applied by most traders
IN speculative stocks it is a -Alacious
procedure :-:rc ,s - excuse fo,.
,ouy'ag : is'ck - 81, thing else un.
iess YEA ere .:1e.vi>.4d It is worth at
-east u. p-7:e asked The fact that
y?p s. mold :,ore of The same ching at
higher levels has nothing to do wiz
~ except to warp your judgre -.
1t - not going to alter the fact that
you are and have been wrong. We
receive many letters just like yours
which show the averaging has in
creased losses. You began to buy this
stock at the highest price since the
beginning of 1919, and now that il is
around Z there is still just as much
chance that it will 90 down as m.
in our opinion. W.
New-York tribune., 1921-07-31
Desires Safety for His $4,000

t. Vnestion-~l wish to invest about $4,000
III ponus that are considered absolutely
sAte and to return about per cent. viii
You please give your opinion of the fol-
owing northwestern Bell Telephone n.
Gas 1sse fsti Great Northern Railroad Is, due
,,aaSSee ,Pennsylrania Railroad Gus, due
.sS'. United States Rubber 7tSs. due 1880:
Armonr 6 Co -, due 1880 Ameri-
can smelling and Refining Company first
os, due l941 st. Louis & San Francisco
prtNr lien As due 1850 IL YOU can suggest suggest
any hing better than the above kindly do
Answer-ln our opinion if you were
to substitute NoTthern Pacific Great
Northern joint 6i2s for the Great
Northern Is, New York Central deben-
ture Is, due 1886. for the PENNSYLVANIA
o5as, and Canadian Northern is. due
l94o, for the Armour & Co. is, YOU
would have greater degree of security
IN your investment. The Canadian
Northerns are guaranteed principal and
interest by the Canadian government.
absolutely safe" is term which we
do not apply to any investment.
New-York tribune., 1921-07-31
Smelters Bondholder Need Not Worry

Question: have bought a number of
ponds within the last six months and have
been Influenced by your sound advice [
nave two American Smelling and Refining
Company . per cent, Series A. which | am
a little skeptical about on account of the
dlssersion among some of the stockholders
Would you sell these. | have a profit
on them DO you consider that & - per
cent new issue OF the Canadian Northern
as good as the old per cent one "A H.
Answer-Because the stockholders of
American Smelling and Refining Com
lany are scrapping among themselves
is no reason now for selling the bond.
we think. Your bond is secured by a
first mortgage on all the property of
the company in Utah, Colorado, Mon
tana, New Jersey, Nebraska, Texas,
California, Washington, Arizona, Hi
nois, Maryland, Mexico and Chile, and
by the entire capital stocks Of several
subsidiaries. You are SO far ahead of
the stockholders that you do not have
to worry about their opinion of one
another. We think the new Canadian
Northern Gla per cent is as good as
the Z, because it has the same guaranty
the Endorsement of the Canadian gov
ernment.
New-York tribune., 1921-07-31
buying Bonds on Margin

Question! am thinking of arranging q
SO san oon tafoueh my bank for, say $1,000 to
securities. part of the purchase prico to
DC PAD IN by me. What is your opinion
Gn Ga4A 'hS 61 Io,iowing no.. city Of copenhasen.
| Chile. per cent. Gas; American Telenhona
ana re Telegraph, 1922. per cent. at 975:
O. Southwestern. 1926 3ia per cent
at $50; Cuban -Amercan Sugar. Iasf
per cent at $40, Goodyear Tire. 1895 :
per cent at 9S5; Virginia ga rolina Chemi-
gan 'notesJ 1926, ~ per cent at looa 1o
Coinirb bus Railway Power & Light. 8 per
cent ge, at $50 9So three year, 1924 American
can Can preferred. per cent at 500
@ nave endsavored to combine apparent
g. s.r,i %,e,F WIN IN. what you viii probably
| including percentage of short term Sc
ctrltles is due to the fact that had in
lehded TO ask the bank to extend a rea-
tn grounds that in addition to paving
on oti,d the loan in smal! monthly or quarterly
naturity would be applied to reduce the
1Dan Nil appreciate your advice. Per
somarg somallg' o.dal, am very fayoraby inclined
ponds; Both are (uness l am mistaken)
hrst lien on high grade properties ana
le,,l po1h commodities must have touched bot
,of' at present prices of raw Materials
The preferred stocks are VERY we'll se
cured and dividends have been paid regu-
larry for some time.-D NJ.
Answer-In making a financial ar
rangement, such as You suggest. has
1t occurred to you that you are taking
considerable risk and the same kind
OF FISK that man assumes who specu-
lates on margin in stocks? Assume
when one Of the short time notes comes
due, it is not paid and at the same
time prices Of many Of your other
securities nave fallen to such an cx
tent that The lank demands larger
margin of security. If you are not in
financial position to put up more Sc
curity YOU viii have to sell one or
more o your bonds at a sacrifice. Be-
sides that you might need credit at
the bank for some other purpose. We
are not quite so opmist.c as you arr
IN regard to the bottom having been
reached either in Cuban American
Sugar or in Goodyear. OF the list
that you pick out our choice is
as follows in order of preferences:
Shawinigan 71as, City Of Copen-
hagen 51zs, American Telephone and
Telegraph 6s, and Virginia Carolina
Chemical 712s, due 1882, and Columbus
Railway, Power and Light If, in your
opinion, however, the industries repre-
sented by the Goodyear Tire and Cuban
American Sugar are to take a turn for
the better, and you can afford to specu-
late on the strength Of your Judgment.
you might be justified in doing so,
since the nature Of your business ac-
cordlng TO YOUR letterhead is such that
you are accustomed to draw conclu
sions from figures. Republic z? Chile
IS we consider a business mans in
vestment.
New-York tribune., 1921-07-31
Chile's Shoe Output Drops

John F. Martin, charge dafaires ad
interim, reports from Santiago that ac
cording to statements issued in the
local press the production Of shoes 10
Chile mas decreased Dy ~ per eeE; -
the last six rnon.hs. In lslz tli.ra we,a
some fourteen snoe factories IN TIL
republic, while at present thera sr~
about Ninety. -:iese ninety factories
have normal production OF about 49,,
600 pairs of shoes daily, or 4.500, 900
pairs year. The price of shoes has
declined about 20 per cent since the
first of this year, out due to an in
crease in WAGES of about 40 per cent
IN nine months the tendency of prices
is again upward.
New-York tribune., 1921-07-31
The Market

The July rise in the bond market
carried through uninterruptedly dur
ing the last week. twenty-five rep
resentative bonds, on which The Trib-
une averages are based, rose in this
period from 77o3 to 1859. Ten rail
road issues climbed from 7415 to
1929; five public utility issues from
1902 to 1896. Meantime ten indus
trials reacted slightly from 8191 to
Sl.73. Liberty issues were strong and
foreign government bonds were in de-
mand.
New-York tribune., 1921-07-31

The Tribune prints each day the mo
tur'ty dates of all actiue bonds quoted
o" the Ne1y York Stock Exchange. The
'et17-n on q 6ond 10 the inuestor depends
Upon three factors: the rate Of interest
the security bears, the market price
ara the distance of the maturity date.
10 figure the precise yield on bond 1t
IS necessary to use yield tables, bit the
approximate yield can roughly be figured
o~5 6y the foiloiclng formula: Diui6c
me closing quotation on O. bond into
the rGte of interest it pays, and the re-
suit wlN be the annual return. II the
tond IS selling beloso par yo1 must
GllotO also for the appreciation Of tie
principal. To do this subtract the mar
ket quotation from par, or 100, and di-
U'de the remainder by the number Of
years the bond has TO run before mt
turity For example, if 6 per cent
bond rs selling at 90 and has ten gears
20 run, tte Gnnuol return ao.u be 600
per cent. The difference betloeem par
and the market price ,cW be 10 points.
subtracting so from 100. Diriding ten
points bA zen gears, the Quoticmt sciH be
l. This figure as to be added 70 $50,
whtch is the annual return, and the re-
SUE, 100 per cent, wiu give you the
approximate yield.
New-York tribune., 1921-07-31
GOODYEAR 8s

Cuestion-What is your opinion of Good
year per cent 1911. bonds as an invest
Ment to hold for a year or two ?--R. l.. S
Answer-Goo oodyear Tire went through
drastic reorganization. 1t has been
put on a sound basis as result, and
the company is in strong hands. While
the Goodyear IS, 1871, must be regarded
as somewhat speculative, we believe
them to- be safe for any one who is in
a position to watch the trend of events.
These bonds have an extraordinary
sinking fund provision.
New-York tribune., 1921-07-31
Answer-All of the foreign bonds
Specializing in the Dark

Question Would like to get information
regarding Rogers Milk Corporation con-
densed and aporated milk products
located at 25 West Forty-tnird Street.
New York City. ! have about So, 600 to
speculate on this stock. Can you kindly
Answer--We wrote to the Rogers
Milk people for a financial statement
and were informed that it was not vet
ready. We do not see how you can
expect to speculate intelligently in this
or any other issue in the absence OF
such data
New-York tribune., 1921-07-31
We Are Neither Statesmen nor Brokers

Question: note you think we'll Of an
nuities. referring to the case in to-day's
issue or a woman aged seventy seven.
the prudential Insurance Company. for
s77.2S semi-annually. $3T'94 auarl"rIy srderiy
$l242 monthly. AS a special agent OF
the company | will be glad to meet the
policy. A personal application to the com
pany would not benefit the applicant as
the case would be turned over to an
agent, to me ii my name mentioned.
your influence | would appreciate it highly.
should the party have preference for any
other company can give rates and write
IN other companies. say Mutual, OF New
In first class Philadelphia company=S.
Answer-We never act as a broker
nor as an intermediary between our
readers and persons, firms, corpora
TONS, insurance companies or others
having something to sell. Readers
who want to know where to buy, CON
suit the advertisements, which are
closely censored. Your inquiry was
probably directed in all good faith.
but 1T was unwise and probably would
not have been authorized by your home
office II you will give the matter
a moments thought we think you will
agree with us. So far as our readers
are concerned, there are probably fftv
trst-class insurance companies amony
which to choose. Any agent who
knows his business can saw where
annultles can best be placed, and the
thing for the buyer to do is to shon
around until he is satisfied he has thn
right rate.
New-York tribune., 1921-07-31
Remington Photograph

Question: own fifteen shares Of Rem
irgton Phonograph stock UNDERSTAND
or course. that it is highly speculative
ou. would appreciate an expression of
your opinion as to the company's pros
poets, also . there is any possibility OF
It's evc~ 1e.,s listed on eitt1i the regular
or cu.fy el"nenge--J. w. &.
Aas,xcr-We canno. undertake to
sncSs for you what the prospects are
fo:' Remington Photograph stock. The
business is highly competitive one.
and 1t has been hard hit by the present
depression and reduced buying nower
for luxuries. The stock is too thin ~
New-York tribune., 1921-07-31
Profitably, but to Whom?

Questlon--Will you kindly gvc me your
OPINION of the stock described In the in
closed letter?-H. Y. X.
Answer Texon Oil and Land stock
is what is technically known as a
pup. G.: A. Loomis & Co.'S letter to
you putting the shares closes thus:
assuring you of our desire to serve
you both faithfully and, prottably,"
etc, burst of frankness which is re-
vcaling if inadvertent. By sending
this concern an inquiry you have prob
ably got yourself on the sucker list,
and you may expect plenty of mail
hereafter.
New-York tribune., 1921-07-31
Nassau & Suffolk Debentures

Quest tion-Wil you kindly advise me
thiough the columns of your paper il the
sidered good Investments: Nassau & Suf-
folk Lighting Company five year per
cent gold debenture bonds, due Septenoher
|. 1925; American Power and Light Com
pany twenty-year per cent secured gold
bolds, due May /. 1871; Trayor Engineer
ing and Manufacturing Company first
(closed) mortgage per cent sinking fund
gold bonds, dated June !, 1921 due June
/, 1936.-H. NJ *.
Answer-We do not find any quota
ton for Nassau e. Suffolk Lighting .
per cent bonds due 1925 The bond is
a debenture only and is subject to
S1,357,000 first 5s, which arc secured
by a mortgage, but which are selling
at heavy discount. The debenture,
of course, is speculative. America n
Light e. Power per cent bonds, due
1891, are a good investment, in our
watch the earnings of the company.
They are making an excellent showing
at present. Traylor Engineering and
Manufacturing first IS, due 1886, are
secured by first closed mortgage on
the property of the company at Allen
town, Pa, and on 81 per cent of the
stock of the Cement Gun Company.
The business has been established since
1906, and at the end of December, 1919,
was apparently IN sound condition and
not in need of new financing. The
company says that the purpose Of the
new issue is to reimburse the company
TOR additions and betterments, to pro-
vide additional working capital and to
reduce current liabilities The COM
pany covenants to maintain at all times
net quick assets equal to not less than
llO per cent Of the outstanding bonds.
On December 81, 1920, net quick as
sets were $1,234,S61, and the total
amount of these bonds is $1,000, 900.
The cement gun is an invention which
holds out considerable promise, en-
glneers say, but has not been on the
market long enough period of years
to have stood the test of time and of
other inventions.
New-York tribune., 1921-07-31
Investment Information

Questions Of general interest to in-
cestors sciii Dc ans,oered ia this coll
unn. IN ,ohich case only initials will
oe used. Othe,s scill De ansvcred BY
mat Address all inquiries, inclos-
tn9 a stamped. addressed envelope. to
Ftnanciol Editor, The Tribune. ISL
Nassau Street, Ne;v York CITY.
New-York tribune., 1921-07-31
Looking for a Sporting Chance

Cuestion-Would you advise tho pur
chase or one $1,000 bond of the following
as a., -, "a business mans buy? Republic OF
beiSlum IS, 1910. at about IS; United
States of Brazil ss. l94l, at about eS, Du
ront 1,,,, de Mennoqrs 714s,, 1851. at about 81;
W. Nlrginia Carolina Chemical 5As, 1882,
at about 80; kennecott Copper Is, 1880. at
apout 81; Hershey Chocolate 7,ss, 1880 at
about 50; Cuba Cane Sugar Is 1870 at
about 81. DO you consider there viii be-
any doubt as 20 the principal and interest
IN regard to any of the foreign bonds?
.ncerstand all of the above payable in
fplerican money. Is there more than a
conservative business chance in the s.x
~ ;iaustriai ISSUES? Would like your opinion
II u, he there is good sporting chance in one
>l.Voo bohd OF the Atlantic Fruit u.s. 1894
at about "A. Should there be any other
issues at the same rae of interest and
ABOUT the same price that you would prefer.
would be pleased to have you mention
them.--F. y. T.
Answer-All of the foreign bonds
you select are payable in United
States gold and the Kingdom of Bel
gum Is are high class investment, in
our opinion. Che two South Ameri-
cams cams are bushes mems investments.
Your choice of industrial bonds is in
teresting and apparently has the theory
back of 1T that because of the espe-
cla!ly severe depression in sugar, cop
per, fertilizer and rubber the bonds Of
these companies are selling at bargain
prices. You may be perfectly right as
a business man; you are in position
10 form your own judgment of such
matters There Is a sporting chance
with the Atlantic Fruit rs, which have
dropped down three or four points
since you wrote. but "sporting" is the
right word for it.
New-York tribune., 1921-07-31
Boy, Page Mr.. Ajax,

Question--As a reader of The Tribune I
would thank You to inform me throug h
your financial columns whether the stock
OF the AJAX Oil Company, which was pro
noted by Messrs Farson Son 4 Co. mem
bers of the New York Stock Exchange has
any worth.-E. I3.
Answer-Ajax is one of those oils
foated in the 1919 boom which have
vanished from the Curb There is no
regular market for it that we know
Of. There were auction sales last
January, in which one lot of 1920
shares brought $685., and another of 100
shares, brought 81 for the lot. A pro-
tectlve committee in charge of B. R.
Dorr, 58 West Thirty-ninth Street, has
been formed to find out what is the
matter with Ajax, whose ythological
namesake dcded the lightning, but
never the stock market.
New-York tribune., 1921-07-31
a Good Exchange for PENNSYLVANIA

>, Question: have thirty-seven shares of
iehnsylvana Railroad. | wish to keep my
income on the old standard. Would you
ADVISE selling Pennsylvania and buying a
preferred stock which is low enough to
ibe be good buy and safe as possl Bile !?
~ So What stock would you recommend?
rave mad Pennsylva MIA good many years.
but II could change d common for a
pre1errnd stock and get better rate |
mouio ".e IKE TO do it. OF course. bonds are
think.-Mrs. L. Z NJ s''' !
New-York tribune., 1921-07-31
Answer-You are receiving an in

''117'' Vt UIU IECVIVInp al III
come of s74 on your 81 shares Of
pennsylvania stock. You could sell il
for about $1,000. C{ith this you could
buy either a Government of Switzer-
land per cent Dond, due 1910, which
would give yr1 $50 year income. or
a high grade preferred stock, such as
the Z per cent preferred of the Stand
ard OH Of New Jersey, which would
give you an income Of so a year. We
would suggest the Government of
Switzerland bond.