davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1921-05-29
Seeks 7 to 8 Per Cent Yield

Question--At this time an annual yield
of from to per cent with safety to
interest and prnucipal should be obtained.
Kindly furnish list of bonds, notes or
high grade stocks providing such yield
have about $1,000 20 invest and require
high grade issues. Would like to diversity
into blocks of about $500 investments.
Would also prefer hve to ffteen-year ma
turities.-C. !. r.
Answer-The following is list of
bonds which yield between and
per cent and are, in our opinion, good
investments. Northwestern Bell Tele-
phone per cent bonds, due 1941, re
Gently selling at about 80; Northern
Pacific Great Northern 612 per cent
bonds, due 1886, offered at q price to
yield 67s per cent; Government of
Switzerland per cent bonds, due 1910,
recently selling at 103l3, yielding 7.64
per cent; Kingdom of Denmark IS,
due 1945, recently selling at 90, yield
ing slightly over per cent; New York
Central convertible debenture 6s, due
1885, recently sellin at 1913, yielding
TT per cent; Southern Pacific CON
yertible As, due 1929, recently selling
at 1874, yielding 100 per cent, and
Liggett & Myers 7 per cent preferred
stock, recently selling at 102.
New-York tribune., 1921-05-29
Answer-Without knowing exactly
Security Of l. Z. T.,s IS

Question--WiH you kindl yadvise what
the Interborough Rapid Transit first and
refunding per cent bonds of 1856 are
secured by?--R S. c.
Answer-Interborou Rapid Transit
first and refunding 5s, due 1866, are
secured by a first lien on the lease
hold of the Interborough in the Broad
way and Lenox Avenue subways, and
the Brooklyn subway and by the 999-
year leasehold of the Manhattan Ele-
waited, and are further secured by a
hrst lien on all power houses and
all power houses and equipment used
in connection with the operation OF
the subway, but subject to the lien
Of the city to assure performance of
the terms of the lease.
New-York tribune., 1921-05-29
Specializing in Sterling Through Bonds

Question--Tho baultcr8 and broleern have
just offered brazilian government per
cent bond at Oiia 10 net a per cent.
Would 1t not be better TO buy t60D Of the
brazilian government peg cept, 1879, for
$l,o0e2 They would net C20 u year. At
81 exchange that wound net per cent. or
and finally pay $2.478.G0 for each $1,000
Invested, when retired Mt $3.50. or $1,000
for each 81 900 &c exchange remains at "a
for each English pound. Please give adj
vice. n j. Is.
Answer You probably realize that
there is no difference in the security
of principal of the two Brazilian bonds
you mention. But one Of them is pay
able in dollars and the other in pounds
sterling, Ii you are convinced that
sterling is going back toward parity
the sterling bond, of course, Is the
better buy. The future of the pound,
however, is speculative matter about
which we cannot predict. We call your
attention to the fact that you have the
same speculation without any danger
of loss in case the pound declines
instead of rising, in the United King
dom 5l2 per cent, 1929, which IS con
vertible at any time at $4.3O pound
sterling into British War Loan per
cent bonds, which in turn are payable
at 1O5 at maturity, 1929. If not con-
and thus you have a hedge for your bet
on the pound This 51a per cent bond
was recently selling at 91%, or $9l7.5O
and interest for 5000 bond. Its 1929
maturity value at 105 will be $1050
if exchange is $4.3O, $l099 if it is
$3.50, and S1,188.50 if sterling is at
par. In the mean time the holder re-
ccives about 6.04 per cent interest in
dollars
New-York tribune., 1921-05-29
Seeks Long Term Issues of High Grade

Question-Please mention five or more
bonds listed on the New York Stock Ex-
change in which invest so as to have
the principal perfectly safe and have an
income on the investment of 51@ per cent
OF more. Bonds that are perfectly safe
and have seVenty-fVe or more years to run
are all right for my purpose. p. B.
Answer-We think these bonds best
fit the needs you describe: Southern
Railway first consolidated 5s, due 1894,
selling at price to yield a little over
6 per cent current interest; Virginian
Railway first 5s, due 1862, yielding 610
per cent current interest; Bush Ter
minal Buildings first 5s, due 1860.
yielding nearly 7 per cent current in
terest; Northern Pacific refunding and
Improvement 41as, due 2047, selling at
a price to yield per cent current in
terest; Louisville G. Nashville, Atlanta,
Knoxville G. Cincinnati Division, As, due
1856, selling to yield over 51a per cent;
New York Central-Michigan Central
collateral 315 per cent bonds, due 1898,
to give 5.67 per cent current interest,
and Atchison, Topeka & Santa Fe ad-
justment 5s, due 1895, to yield $50 per
cent current interest.
New-York tribune., 1921-05-29
Report Progress in
Chinese Silk Industry
Visit of the American Mission
Last Year Stimulated
DEVELOPMENT

Progress in the Chinese silk indus
try along the line of rendering Chinese
raw silk more adaptable to American
use is reported in letter from Julian
Arnold. United States commercial at
tache at Peking, to the Silk Associa-
tion of America. The development has
resulted largely from the visit of the
American silk mission to China year
ago.
Mr.. Arnold writes that the Chinese
silk interests have responded readily
to the influence of this mission, and
that the efforts which the Silk Associa-
ton puts forth to improve the method
of reellng Chinese silk for the Ameri-
can market will be amply repaid in the
results obtained.
In connection with Chinese silk a re-
port from one of the filatures, or sell
ing plants, established for thirty wears,
tells that: AS result of the cam
palgn made by the American Silk AS
soclatlon representatives, this factory
mas changed its method of reeling a
portion of its output" Silk reeled for
American consumption is known as Gre
reeled.' This rereeling process pro-
duces softer and more flexible silk.
1T IS interesting to note that this new
method of reeling brings them approx
lmately 100 taels more q picul than
the old way
The silk mission, consisting of seven
delegates from the Silk Association,
went to the Orient in the spring Of
1920 to study the methods of raw silk
production. In China the mission tried
to impress upon the reelers the need
of greater care in reeling NOR uni
FORM, clean and compact thread and the
desirability of tie Grant reeled Amri-
can standard skejn with soft gums. cor
rect lacing and uniform weight,
New-York tribune., 1921-05-29
Woman Over so Has Big Loss

Question - widow about eighty years
old wishes to ask a few questions about
Chicago & Eastern Illinois preferred have
had the stock about twenty years and paid
about $120 a share for it. Now they are
going TO reorganize and give one share
of common for one of preferred, and assess
$50 a share. Would it not be better to
lose it all than pay such an assessment
and probably get nothing in the end?
Would also like to know your opinion about
Wells Fargo. Had it about thirty years.
No wit does not pay anything. Would
it be better to sell and get what l can
TOMS. NJ
Answer-For woman over SO we
think it would be better to let your
Chicago & eastern Illinois preferred
go as loss rather than to find $50
of new money. We have previously
expressed the opinion that we thought
it would pay holders of the Chicago
& Illinois stock to pay the assessment,
but your case is different, If you had
an expectation of thirty or forty years
of life, we would say pay the assess
ment. We also think that you would
be wise to take your loss on Wells
Fargo, and to get into something that
pays you interest. Have you consid-
cred an annuity? You might buy an
annuity with the proceeds of your
Wells Fargo stock and get high de-
gree of safety and a higher annual
income than you could get in any other
way.
New-York tribune., 1921-05-29
Bonds in S10O Pieces

Question: would like to have your
opinion on the desirability of equipment
trust bonds as investments for q Young
man with limited but steady income OF
course safety of principal is the main
thing, but | desire yield as large as pos
sible consistent whit safety. What | have
in mind are 500 bonds maturing in from
three to five years with a yield Of between
u and per cent If held to maturity
Are htere any of these bonds to be had in
$500 denominations? If so l would appre-
ciate your recommending a list of a half
dozen dozen or so. In your opinion are such
preferred stock? | have an investment
scheme sen which viii include some OF both,
put put | am bothered as to the proportion
order to diversify,-R. +. II.
Answer-We think that equipment
trust certificates are among the best
of investments, but they come nearly
always in $1,000 denominations only.
There are some $500 ones. On the
ether hand, you can get some high
grade bonds, which have a yield of be-
tween " and 7 per cent at present
prices, that do come in 500 denonii-
nations; for instance, the new North
ern Pacific Great Northern 6b per
cent bonds offered at price to WELD
61s per cent, the New York Central
debenture 6s, due 1885; the new Gov
ernment of the French Republic
twenty-year external 713 per cent
bonds, which are now being offered
at 95 to yield over per cent, and
these later bonds have the unusual
feature of being not subject to redemp-
tion prior to maturity. These bonds
are as good, in our opinion, as seasoned
preferred stocks. In our opinion, 25
per cent of your investment might
we'll be in preferred stocks, such as
the American Car and Foundry, Ma
tional Biscuit and Standard Oil of New
Jersey, United States Steel, etc, and
the remaining rs per cent in bonds.
We would be inclined to save in the
savings bank until $500 is accumulated
and then there is a free choice among
the best bonds regardless of whether
they come in 500 denominations.
New-York tribune., 1921-05-29
Wilson Selling Coal Stock Aca,r

Qnestton-~Apparcnuy Albert G, Wilson
4 Co are atill behind Aetna Sewcl Cont
promotion, as would appear from the in
closed follower" thank You very
much for Your Information. While j have
never before in my life dabbled in stocks
was highly impressed by the proposl.
ton. for tn" reason that tt would seem to
mo that any coal stock must OF necessity
become valuable regardless of developing
condluons. But since YOU do no ttccl
justified in indorsng tho stock / shall Ger.
taihly Keep my hands Off X.
Answer-The new Albert G. Wilson
letter contains a lot of generalities
about other coal companies and saws
nothing about the properties of the
New River Coal Company, which he
seems TO be promoting now. We do
not see anything impressive about
such prospectus. The public has Ii
short memory and we suppose Mr.. Will
son counts on forgetfulness of the
manner in which he sold the nearly
worthless Sligo Iron G. Steel stock last
year.
New-York tribune., 1921-05-29
Choosing Among Three Suggestions

Question-,1 have about $1,000, and at
my disposal Just now, and "thcy say
MEL Mel III 5his Is what three Of them say; A..
the price so low What are the prospects
f9r their paying dividends or has the
dividend already been passed? B.-Buy
United nm cdr States Sa. Rubber common poying 5
prospects of its continuing to do So :?
C.-Buy American Telephone and Tcle-
graph common, paying o per cent? C. r..
Answer-The best of the three plans
you mention is the purchase of the
Telephone stock in our opinion. The
directors have repeatedly said that it
intends to maintain the common stock
on an investment basis, and apparently
the company, the largest public utility
IN the country has the earning power
to do it. 1t may be, also, that the
stock is depressed little in price just
now because of the over-supply caused
by the 20 per cent increase in the
common capitalization The other two
stocks are selling so low because here
is doubt about the future in the two
industries and the maintenance Of the
present dividends.
New-York tribune., 1921-05-29
Finds Stock Dividend Complex

Question: ann contemplating purchas-
ing outright thirty shares OF I4oew's, Inc.
am led to believe Locws, Inc, is to pay
stock dividend of sc 2-3 and raise the
par value of the stock from its present
par of $40 to SIS, and in allotting the stock
dividend they are figuring the present
stock dividend divided by 2.5, and giving
66 % OF that, or. more plainly, If |
bought thirty shares they would be figured
as twelve shares to participate or two
thirds of twelve, or eight new shares; also,
would my present thiry shares be consid-
cred or appraised by I4oew, Inc at $26
par? 1t is somewhat complex to me- ana
will do nothing until either l am an
swercd in the columns Of your paper or by
mail. What is your opinion of this invest
mcnt as a business mans investmcnt?-
j. J. y.
Answer-The stock of Loew's, Inc,
i6 too speculative for investment, in
our opinion, and we do not attempt to
advise you about its purchase or sale.
Do not get the notion that stock divi-
dends are income. They do not in
crease your equity in the least. AS
long as this concern was carrying
1easeholds, contracts and good will''
in its balance sheet and other intan-
gibles bringing the total to $12,464,481,
or SLIT q share, it would seem to
have been more conservative to squeeze
out that water rather than to declare
a stock dividend. You are mistaken
about the stock dividend. Two $25 par
value shares are to be exchanged for
each three $40 shares held. The COM
pany issued 288670 shares at $25 each
in 1000
New-York tribune., 1921-05-29
Growing Old. VIII Invest $1,000

Questlon-Am considering investing $40
00G in git-edge bonds, and would apITe-
which l have selected from your column
in The Tribune, or, perhaps, you may sug-
gest a better selection, all to be dollar
bonds principal and interest payable In
Now York. As am getting old and earn
ing power about finished, the security OF
principal and interest is very vital; New
cent 1885; De Laval Separator per cent,
1891; Standard Oil of California per
cent, 1881; American Telephone and Teie-
graph collateral per cent, 1916; American
Canadian Northern debenture per cent
1910; Kingdom of Belgium per cent
1871; Swiss external loan per cent, 1870
kingdom Of Denmark per cent, l955;
Norwegian per cent. 1910. All $1,000
par, Would like long term and good
yield.-C. T.
Answer OF your list, we consider
Standard Oil of California Is, the
American Telephone and Telegraph 5s,
the Dominion of Canada 5s, and the
Swiss IS as the best but we think all
of the bonds that you have selected are
q good investment with a high degree
of safety of both principal and interest
While we consider the De Laval Sepa-
rator 8s good investment, if you
wanted something more conservative
we would suggest the new Northern
PacifcGreat Northern 612 per cent
bonds, due 1886, offered at a price to
yield 67s per cent if held to maturity
and convertible at par into non-callablo
Great Northern 7 per cent bonds. duo
1886. If you have no dependents we
suggest thai you consider an annuity.
1t will give you a greater yield with
greater safety, but the principal Will
be eXtinguished at your death.
New-York tribune., 1921-05-29
Can't Get His Bonds Delivered

ouestion-on February .. 1920. almost
fifteen months ago, purchased some
have been unable to obtain delivery Of
these bonds as my broker claims ne has
tried in vain TO get them from his seller.
matured coupons, Would you kindly tell
me whether / have the right 20 cancel this
r. p.
Answer--lf you paid for the bonds
you Y should have had delivery long ago,
AL any rate, you are entitled to the
coupons from the time of purchase II
Is simply matter of maxine the
broker come across.
New-York tribune., 1921-05-29
Looking for q Joker

Question-Wouid appreciate your opinion
on Slty OF RIO de Janeiro per cent loan
OF 1924 as advertised by Pynchon & Co.
in Tha Tribune of May 5, as an invest
nent From superficial reading of the
al tho proposition is rather aluring. Ia
there niger in the woodpile? DO you
good choice for the renVestment of the
interest from securities as they become
DUE due. II, 1t is attraetive to the writer be
interest is paid monthly, l appreciate that
preferred stock is not "a promise to
pay nevertheless is the one in question
safe as to principal, and dividend? Would
you suggest something else for the pur-
pose My income amounts to $3.50 in
January and $3.50 in July. would like
to relnVest at per cent or better with
derived from Liberty bonds, Swiss govern
ment IS and government of Denmark IS
of 1945.-( Mrs. NJ. A. G.
Answer-There is no Senegambian
present. We consider the City of Rio
de Janeiro bonds a good investment
for business man, and might be suit
able for the interest which you receive
over and above your living require
ments. We think that Cities Service
preferred for this purpose also a good
investment. You apparently recognize
the fact that neither of these invest
ments is in the class that we would
recommend to a woman wholly depend
ent on income, but both of them have
their place in an investment scheme.
The Cities Service Company gives a
monthly earnings statement. The rea-
son that the City of Rio de Janerio
bonds sell to yield so high, is because
there are number of foreign govern
ment and municipal issues on the mar
ket which have longer record and
higher credit standing than the South
American countries or cities.
New-York tribune., 1921-05-29
Cautious About His $1,000

Question: am going to have $4,000 to
invest soon. What l would want are
bonds that would yield about Z per
cent and that you would consider abso-
iutely safe. I would also want them to
matqre in not less than twelve years In
those only that are listed so that in case
| am obliged to sell them ! would have a
ready market for same.--J. p.
Answer-We repeat that we do not
consider any investment as absolutely
safe. We think that the Northwestern
Bell Telephone Is, due 1871. recentlv
selling just under par and yielding
about Z per cent, are a good Investment.
We think that the Northern States
Power first and refunding IS due 1941,
recently selling at price to yield
about 6R per cent current interest and
over Z Per cent interest if held till
maturity, are good safe investment.
me dominion of Canada 5s, due 1881,
recently selling at around 90, yielding
6.29 per cent to maturity, are safe
enough for your purposes.
New-York tribune., 1921-05-29
Canadian American Oil & Gas

Question-What Information have YOU
regarding the stock of the Canadian
American Oil s. Gas Company * X.
Answer-Canadian American Oil &
Gas stock is listed on the New York
Curb, but we have not seen any record
of a recent transaction. The stock was
offered late last fall around 25 cents
a share. 1t is too speculative for us
to attempt to advise you about buying
or selling it.
New-York tribune., 1921-05-29
Didn't Win. Blames Bond House

Question--In 1919 I bought thirty 1000
franc Internal bonds of the Republic of
Frace, Issue of 1919, through one of the
big investment houses on Broadway 1T
was explained In the literature that as the
franc Increased in (dollar) value the in
tercst and principal would increase. To-
day the franc is worth around eight cents,
therefore should say that one of the bonds
I bought should be worth around $50. In
Quiry shows that the bonds are selling IN
France at around $50. | always have had
a great deal of confidence in banks and
Investment houses, but confess am greatly
disappointed at the outcome of this invest
ment Another thing. / find that these
bonds may run on forever as the principal
is only due when France elects to pay 1T.
They are annuity bonds. They were not
so described at time of purchase. Do you
think the bond house was considering my
interests as much they should have
done at time of purchase M r.
Without knowing exactly
what representations were made to you
about the French internal bonds we
cannot say whether your bond house
sold them to you on the proper basis
or not. We supposed that everybody
knew that the French internal bonds
were speculative. To be worth $50 a
1000 francs this bond would have to
sell at par in francs. We suggest to
YOU that it is unreasonable for you to
EXPECT this when our own Liberty bonds
are selling at discounts of as much as
1919 per cent. A reputable bond house
will tell you exactly what a bond repre-
the securities matured you showed lack
of interest in your money at least.
However, if you have a complaint to
make we advise you to take it to the
house in question and give it chance
TO defend itself or explain.
New-York tribune., 1921-05-29
Both Bonds Are Paying Interest

Question-Will you give your opinion of
seaboard Air Line adjustment SIS ana
Third Avenue adjustment 5s? Do either
of these issues pay the coupons at present
or anything on them? The Seaboards
have "a per cent coupons, so [ presume if
per cent cannot be paid 2M is. How
about Third Avenue? If coupons are not
paid when due must they be paid when
there is sufficient surplus, or are they
void? What do you think Of the future
of these two bonds ?-F. D.
Answer Seaboard Air Line adjust
ment 5s have semi-annual interest cou-
pons. That is why there are 21a per
cent coupons. The semi-annual interest
is payable February and August /.
They are paying interest at present
but the road is having a hard time
to earn its operating expenses. Both
the Seaboard Air Line IS and the Third
Avenue 5s are speculative, although
both were paying their interest cou-
pons on the last date that they were
due. The indenture securing both the
Seaboard and Third Avenue bonds pro
vides that interest shall be cumulative
and therefore if sufficient surplus is
earned in subsequent year unpaid
coupons would be paid
New-York tribune., 1921-05-29
Institute Commencement

Inc commencement exercises of the
NV York Chapter, American Institute
OF Banking, the educational section of
the American Bankers Association. viii
be held on Thursday evening, June q
at Aeolian Hall. Professor J. Duncap
Spaeth' head of the Department Of
English at Princeton University. win
denver an address on the subiect
america and Europe" 'ee''
New-York tribune., 1921-05-29
Chooses Two Speculative Ones

Question-Please give me information on
Central Copper Company of Arizona, also
American Fuel Oil and Transportation
Company. w w.
Answer-Both stocks are too specu-
lative for investment, in our opinion
The Central Copper people are asking
a premium for their common stock,
though it is not paying dividends or
operating at a profit. Neither stock
has a ready market.
New-York tribune., 1921-05-29
Chooses Two Good Issues

Question: have about $1,000 to invest
What do you think of Standard OH 7 per
cent preferred or Dominion OF Canada 6s
Of 1881? Does this bond come in $500 de-
nominations? If you can" suggest some
thing more safe, l would appreciate it
e. A. j.
Answer-We think either Standard
Oil of New Jersey per cent preferred
or Dominion of Canada 5s, not IS, due
1881, are good investments. The bond
comes in $500 denominations.
New-York tribune., 1921-05-29
Investment Information

Questions Of general interest TO 'n-
eestsrS sciil be anSpered IN this col
umn, ia echich case only initials ;siu
bs used, Others wiu DO aastceTea BY
mGii Address all inquiries, tncios-
Eng stamped, addressed eauelops, to
Ftnanoiai Editor, The TribNnc, 4sI
N%SSaw Street, NeV York City.
New-York tribune., 1921-05-29
Answer-There is no market in Hi

Answer-There is no market in this
country for either the Russian bonds
or the Polish bonds. There are two
recent issues of Polish bonds, each for
1,000,000,000 Polish marks. You may
be as good judge as we as to whether
a stable government will be established
in the near future. In our opinion
neither the Polish or Russian bonds
are anything but speculation
New-York tribune., 1921-05-29
Polish and Russian Bonds

Question--Would you be good enough to
publish such information as you have as
to the Russian per cent internal loan Of
1926, its chance of payment any Develop
mcnts, etc? Also have you any mform3-
tion to the new Polish per cent loan
now on the market? The chances OF a
stable government in Poland? The price
Of these bonds, their desirabnity, etc. -