davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Salesman to Put $4,000 Into stock.

0uestion,-Am travelling salesman and
shortiy VIII have $4,000. which j intend
20 lhves, In listed stocks My idea ia TO
procure those stocks which arc now Weld
ing the highest percentage OF income
Nenhef industrial or railroad) consiste emf
WIN reasonable safety OF principal or in
what suppose YOU would term a business
man investment. intend to buy only
zen shares OF any one issue II YOU have
= iiss to suggest will greatly appreciate
" II you VIII supply me with same Do
YOU consider july as Kood as any other
.ime 10 make such investment Or do
YOU ehink l might get more for my money
oS waiting until August7A. X. II.
Answer-We cannot undertake to
predict the course of the stock market.
but we give herewith list of stocks
which we consider good business mems
speculative investments: American Car
and Foundry common, American Bank
Note, common, Kansas City Southern
preferred. Southern Railway preferred,
American Telephone and Telegraph
Pacific Gas and Electric stock, Colum-
bia Gas and Electric, New York Dock
preferred Diversity your holdings and
do not be surprised If some or ali Of
them go lower in price This is a bear
market, and we are one Of those OBJ
servers who do not pretend to be able
to find the bottom and call the turn.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Western Union Bonds

xQusstion-Please advise me as to bonds
OF the Western Union Compsny-those
maturing within fifteen years from now
Are they as safe an investment as money
IN the savings bank? l do not know a
whole lot about bonds, but want to invest
u, 600 to get per cent, instead of the 4
per cent am now getting from, the bank.
Miss G. r. N-'
Answer-The investment of $1,000 in
Western Union bonds is not as safe as
money in savings bank, because if for
no other reason the investment in the
savings bank is more diversifed; that
is, the savings bank uses your money to
invest in many different kinds of Sc
curities and mortgages. On the other
hand, at present prices, we think that
you can get high degree of safety and
get over per cent. For instance,
Northwestern Bell Telephone per cent
bonds due l941, are selling at Just be-
low par, and they are secured by first
m ortgage on all Of the property of the
company in the states of Iowa, Mime
sofa, South Dakota and Nebraska. If
you demand per cent we recommend
the Kingdom of Norway IS, selling at
just above par, and due 1910.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
LONDON.


The feature of the first conference
OF the international Chamber of Com
nierce, which met in Central Hal,
Westminster, for FIVE days, was o
speech by George f. Roberts, vice
president of the National City Bank.
clearly setting forth Americas posi-
ton in the financial phases of the
world situation and emphasizing the
Five hundred representative bust
ness men from seventeen nations took
part in the conference whose sessions
ended at the beginning of the month,
America having 169 delegates, Great
Britain 1872, France So, Italy SO, Bel
GUM o., The Netherlands 9, Sweden T.
Denmark 4, Poland 2, Luxembourg and
the Czecho-Slovak Republic one each
while other European countries, in
Guiding Austria and Bulgaria, were
represented by one or more delegates
The conference, which had to be car
ried on with the aid Of interpreters,
was IN progress simultaneously in five
group meetings, dealing with finance,
production, distribution transportation
and devastated regions.
Replying to the suggestions from
various European delegates that tne
United States might aid in the present
situation by accepting German in
demr1ity bonds in payment for Allied
debts, Mr.. Roberts explained that
America would do all she could to ad-
Vance capital and aid in restoring
trade to Is normal channels. He said,
however, that the purchase OF foreign
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Not Worried About Railway Share.

Question: am interested at present In
,nulldins up my bond holdings, but am do
terest and dividends rather than by selling
the bonds already have or the stocks
nrokerase nrm suggests that I ahouid sell
70 nuy some OF tho French or Swiss
ponds ponds or some Of the good bonds recently
, .s here At per cent. do not see
wncre would be the gain, in view OF the
nh, nt IN price. In selling and buying;
out ! intend to keep on investing savings
they are ia be had anywhere near par,
MY present bonds are: Liberty ttiree
i1s,:suse .I. 800 United Kingdom @hs $500
French 49, 5000; $500 American smelti Hn.
and Refining IS, bought at 90; $500 Vir-
stnoss TTssi ros arst ss bought at 90
preferred. bought at 1914. two Allied
T ,a and Dye General ChemicAil pro
Telsphon o0 sgh r., a. loo four American
% to 1o4. Railways: Three Atch,son pre-.
teFrsd. bought at about 100; three Chicago
~. >S Grest w Mnrts bought g, about so
20; four Pennsylvania, at about n. I ar,
nor worried about tho railway shares. Our
Fortysecond street) show that 1 unaeriv,n AZ
economic conditions the world over are
steadily improving, and business here will
sral movement upward. WIN YOU kindIv
,e. me know what you thiak Of my list.
pre sef co mighd be strens,hened under
anH a,,, be any real advantage in selling
v--'uonu AGA sunqlII. suI. VI soon
Answer-Your Atchison preferred is
good, we think, and Chicago & North
western is good in the long run. AL
though the Northwestern earnings for
the first five months of 1921 have not
neen satisfactory and continuation
OF unfsvorable conditions over an ex-
tended period of time might necessitate
deferring the dividends. Great North
ern, which is preferred in name onlv.
there being no common, and Pennsyl-
vanla Railroad arc both stocks the value
OF which depends on the outcome of
the railroad situation. Congress has
postponed further hearings until Au-
gust and it is now up to the railroa.
managers to try to make tho best of
the wage reduction which tie Labor
Board allowed them Presumably Won
are on salary and can afford to face
the possibility of loss of income on
your investments for certain length
OF time. Your list would be strength
ened, IN our opinion, by the sale Of the
Great Northern and Pennsylvania and
the investment Of the proceeds in King
dom of Denmark IS, due 1945. recently
selling just under par, and United
Kingdom of Great Britain 5ks, due
1897, recently selling at a51a. We
would like to know how valid your
theory of foreign and domestic bust
ness conditions is.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Security Of Hershey Notes

Question: note that you advise one of
your readers to sell their Hershey's Choco
lage Corporation ten-year note and rein
vest In something else. VIII you kindly
advise me in particular as to what you
mean with reference to my Investment in
the Hershey notes' What do YOU think
of Sinclair OH Companys notes? Also
United Drug Company per cent bond
Give me a abort list OF bonds notes
maturing in from Ave TO fifteen years that
will yield from per cent up that you
would unauaifedly recommend. Please
advise in particular with reference the
Hershey notes for If there is any question
a s to their safety l would want to know it,.
&C. L.
Answer-The candy business is spec
ulative in it's nature and the bottom
has nearly dropped out Of the sugar
market. The tenyear ~ per cent
notes of the Hershey Chocolate Cor
poration are secured by collateral
lien on the real estate, plant and fixed
assets of the corporation. If you wish
to be thoroughly conservative we would
suggest that you sell these notes and
put the proceeds into one of the secu
rites recommended below Sinclair
Consolidated Oil 7la per cent notes,
due 1925, are, in our opinion, good
business mans investment, although
the oil business is not prosperous at
present and their purchase involves
some speculation. Standard Oil of
California I per cent debentures, due
1881; Westinghouse Electric and Manu-
featuring Company per cent notes, due
1881; E, |. du Pont de Nemours 712s,
due 1881. and Chicago & Northwestern
hfteen-year 61z per cent secured bonds,
due 1886, meet your requirements, we
think.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Would Borrow to Buy Bonds

Question: am considering the invest
n msnt Of If, $500 lst in various high grade
ment at present low levels is my main
object, l should like negotiable securities.
What do you suggest? might add that
my bank in order to take advantage OF
present prices and allow the securities to
be held as collateral. This obviates a
time payment plan with some brokerage
houses. Do you consider this plan adj
visabie under present conditions?-A e, r.
Answer-Even with the most easily
negotiable and marketable bonds a
bank would require a margin Of from
10 to 20 per cent above the market
price of the bonds.N If you put up
ample margin and are in position TO
put up additional margin in case Of
necessity your plan to buy bonds in
the present market is q good one, it
seems to us. You must remember.
however, that there are fluctuations in
the bond market just as there are in
the stock market, and if the bond
market should break badly your bank
would presumably cali for additional
security. That is, you would have to
put, up more bonds or put up additional
cash. Failure to do this would involve
the sale of the bonds at the market
prices, which might be much lower
than what you paid for the bonds. We
would suggest Kingdom of Switzerland
per cent bonds due 1899, recently
selling at s31a, yielding TO per cent
If held until maturity; New York Cen
trial debenture per cent bonds due
1885, recently selling at 87A, yielding
7.49 per cent i. held until maturity;
New York Dock first 4s due 1e41, re-
Gently selling at 68, and Northern
States Power first and refund:nE IS
due le41, recently selling at 70, yield
ing 707 per cent if held until maturity.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Holds Five /. r.. r. Bonds

Question May ask the favor. of your
advice regarding the following securities?
Five $1,000 Interborough Rapid Transit
bonds bought at %; twenty shares
United states Stee. common. bought at "a :.
thirty shares Missouri Pacific common.
bought at 3S. You have repeatedly ad-
yised people who already have l. r. r.
TO hold 1t. Are you stil of the same opin-
ion9 1 have believed the traction trouble
would grow better rather than worse. Am
ia moderate but comfortable circuln-
stances. IL you advise selling. how can
make the best OF bad bargain ~. G. s.
Answer--We are still of the same
opinion in regard to holding Inter-
borough Rapid Transit bonds. We
would not advise you TO hold Missouri
Pacific common. and think it would be
safer to hold United States Steel pre-
ferred rather than the common, though
we see no immediate prospect Of
dividend reduction.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
His List Not a Safe One

Question--Will you kindly inform me as
to the safety Of the following for invest
lnent: Forty shares Cities Service pre-
ferred, five shares Cities Service common
ten shares White Motor. one share stand
ard Gas and Electric preferred, $500 New
Orleans, Texas g. Mexico income 5s?--E.
n. Nee.
;. ,Answer-The Cities Service Company
has just paid its dividends in scrip; the
motor car industry is being hard hit by
postwar depression and the market is
flooded with secondhand cars bought
during the period of war imitation and
war profits. Standard Gas and Electric
preferred is speculative business
mans investment, as is also New Or
leans, Texas & Mexico non-cumulative
S per cent income bond. In selecting
such a.list as this you were not look
ing for safety; you were looking for
yield.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Coupon Rate Used in Computing Yield

Question--As stated on The Tribune's
h man page, tho approximate yield OF
pond may be obtained by adding to thu
current interest (Which equals current
price divided by coupon rate), the differ
s ,i between par value and current price
divided by the number Of years until the
security falls due. For short-tcrm securi-
ues THIS approximation is close, but as
you have stated. for long-term bond. il is
less exact, due to the fact that one il not
receiving interest the difference be-
tween present and par value, which differ
until the bond natures. Nov, the e exact
irethod OF obtaining the yield Of u. bond
II one does not have access to yield tables
consists In adding to the current interest
me annuity required to accumulate the
dtreronce between present ana par value
by the time that the bond falls due An
nuitS may be computed obtained from
tables My question follows: What
rate of interest Is it the practice to use in
ing Yield tables or for computing the yield
OF any one particular bond) the bonds
COUPON rate current interest rate, approx
For instance take the Kansas City South
ern first 8 per cent bonds due 1850 now
selling a. bout SIS. The current interest
add TO this per cent the annuity required
70 earn $40 in twenty nine years, based on
mus eo9pon rate per cent we have s45
rent interest rate in figuring the annuity,
we have SAB plus o.s5. equals $40 yield
c IL we VI use an an arbitrary figure. say per
per cent yield. What ia your opinion Of
tae new Alabama Power Company bonds
thrst mortgage lien and refunding)c Why
40 they yield such high interest rate?
Is one suitable for a married man twAn
~ seven years OF age, who has about
t!.oUO year to invest and who has So
GOO Liberty bonds 81 900 Brooklyn Edison
Z per cent, 1910; $500 Swift & Co. per
cent 1926; 81, 900 American Telephone and
bo sassfeRa H. ger g, cent convertible 1925
Answer-It is customary to use the
rate Of interest of the bond in com
putting the annuity rate, or in com
putting compound interest. Your point
about the difference between the bond
coupon rate and the current rate of
interest is interesting and important
at the present time, where, as in the
case of the Kansas City Southern. the
difference is SO great. The Alabama
Power first IS, due 1916, are good in
vestment, in our opinion, and suitable
for your purposes; if you want more
conservative investment, however, we
would, suggest either Montana Power
5s, due 1s45, recently selling at around
80, or Puget Sound rover and Light re-
funding 71as, due 1941. The bonds are
secured by mortgage on nearly all Of
the company's property, and by the
pledge of like amount Of City of
Seattle Municipal Street Railway bonds.
We think your present investment is a
good one.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17

policy OF disarmament, the organiza-
ton of export credits, the avoidance
Of contracting new external debts by
countries suffering from a deprecated
exchange. and finally advocating the
greatest possible liberty in financial
and commercial transactions On the
question of dehation it was urged by
professor Gustav CaSsel (Holland)
fnat If policy of defstion were per-
sisted IN in countries such as the
United States, Great Britain and
france, great hardships would be in
nicted on other countries, but a reso-
sution advocating that the imitation of
paper currency be stopped and progress
siveiy decreased was carried.
Strong support was given to the
tightening Of bIrdensome passport
regulations in the transportation and
communication group. A resolution
iavor'ng lettering Of conditions, the
issuing Of uniform type Of ordinary
passport by all nations, the abolition
Of exit visas" and the fixing of the
lee Tor entrance yisasp at maximum
OF 10 gold francs was adopted. Tho
committee also Endorsed the proposi-
ton that the international postal serv-
ice existing prior to the war should be
restored and extended on the basis of
uniform ity, and the lowest possible
scale of charges or letters, printed
matter and merchandise samples.
Opposition to the state operation Of
industries and regulation Of business
by the state was expressed IN a resolu-
ton by F. O.. Watts United Statesl, in
which il was stated that Ill is in the
interest of international trade and the
restoration of normal industrial ae-
tjrity within each nation that the state
operation Of industries and interior
eree and regulation of business should
be reduced to minimum,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Widow Likes Grand Trunk Bonds

=, Question: have 1000 for Investment
Until my husbands death he relieyed M
Sest ADVICE; A friend told me you can
De depended upon to give It, will thank
YOU greatly IL you will write me Of a
renabie investment that will bring me- a
good income. What is your opinion Of Inc
united States Rubber Company bnr6so
Can you suggest better? What aho,,t
mortgages on the Grand Trunk Railroad
suaranteed by the Canadian government ,
Mrs. p. W. H.
Answer.--It would be hard n find
anything more suitable for your nur-
poses, in our opinion, than the Grand
trunk per cent debenture bonds.
guaranteed principal and interest by
the Canadian government If Won in
vest $4,000 in these, and $1,000 in the
new Chicago Union Station on per
cent bonds, guaranteed principal and
interest by the Pittsburgh, Cincinnati.
Chicago e. ST. Louis, the Pennsylva
Company, the Chicago, Milwaukee &
st. Paul, and the Chicago, Burlington
q Quincy. we think that you would
have a high grade, safe investment
The Chicago Union Station bond is
due 1868. We think that the United
States Rubber Company bonds are a
good investment.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Woman Likes the Idea of so Per Cent

Question-Kndly advise me II you think
good or the New York, New Haven r. Hart
ford debenture as selling on the curb If
IS: standins so low now and they have to
De redeemed next year, it seems to me
could make nearly so per cent on it. Do
you think there is any doubt about the
feaeem'ng next ycar?-MISS 1. D. G;
,Answer--lt would be nice if we could
all buy New Haven debentures at pres
ent levels and make about so per cent
on our money by All Fools Day next.
wouldn't it? But in order to buv on.
of the debentures we must first 6nd
some one willing to sell it, and doubt
Tess the seller would have some reason
winch seemed sufficient to him Tor fore
going about 45 per cent of his princi-
Pa, especially as it would be quite
tikely mat ne had paid higher prices
the answer yourself. 1t is douba
about the redemption of the securities
when due, April l. 1922.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Would Sell to Increase Yield

Question: nave $1,000 Southern Pa
cine refunding per cent, 1885 Would
IKE to sell this and use proceeds to buy a
bond that will pay per cent. What
would you suggest? G. c.. G.
Answer - Southern Pacific Railroad
refunding as. due 1855, were recently
selling at 1873, which yields 5.43 per
cent current income, and 5.78 Der
cent if held to maturity A 6 per cent
bond running for thirty four years and
selling at around 70 would yield we'll
over per cent We do not know. Of
any bonds that we would recommend
that meet these requirements, You
could get Kingdom of Sweden per
cent bond, due 1889, selling recently
around 83, that would yield no per
cent if held to maturity and 71a per
cent income. You could get a Cieve-
land, Cincinnati, Chicago & ST. Louis
Az debenture bond. due 1881, selling
recently at about rs, which would yield
you GIG per cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
LOOKS Askance at Wilson Bonds

Cuestion--Wil you please give me your
adNice as to Wilson Company bonds. due
some time and l thought It might be best
to invest in something you might suggest
N you think Wilson Company is not all
right. paid about IS for the bond
w. e. r.
Answer = The packing business has
been hard hit by the after-war condi-
t!ons, and though the larger packers
are able to spread the speculative risk
over great number of transactions,
even the stronger companies are af-
footed by present conditions, and this
tact is reflected in the market price of
their securities If you are inclined to
worry about your securities, you might
we'll shift into one Of the strong public
utilities, such as the Puget Sound
Power and Light general and refunding
77ss. due 194l, recently quoted at 971s
asked.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Oil Stocks Not Always What They Seem

Question: would very much appreciate
IL II you could advise me regarding the
Glen Oil Producing Company. send YOU
the last circulars | received from this
company, l have 1906 ahares OF this stock
and do not know if should buy any more.
Nj. D.
Answer-We do not advise you to
put any more money into Glen Oil
Producing stock. The company says it
is paying dividends of per cent
year in cash, which would be IL cents
a share That does not, in our opin-
ion. justify an asking price of % per
cent above par, which is 20 cents for
the stock. Do not get the idea that
feeding out stock dividends, bonuses"
and special profits" in the form of
stock adds to your income. There is
no market for the shares that we
know Of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Widow Proves a Good Pupil

Question: am a widow. and have in
vested almost every cent | can get hold
of TO provide myself with an income as
large as possible. I now have twenty
shares United Kingdom, 1881, twenty
shares Swiss government per cent
twenty shares Canadian Northern per
cent, 1910; ten shares Belgium 8 per cent
Ave. shares American Smelling 5 per cent.
1877; five shares Northern Pacific, I've
shares Chicago Union Station rs. $1.I00
Liberty bonds. have made this list
through study OF your investment column
and have had three things in mind
safety, good yield and long term l hops
I have heen a good pupil Do you think it
is safe to leave this list as it is or would
you suggest any change e. NJ. V. q.
Answer--You do not say which one
of the Northern Pacific bonds you hold.
You probably mean the Northern Pa
cihc-Great Northern joint 61as. Your
list is good and we think that you have
made a wise investment with a high
degree of safety at very fair yield.
We would not disturb it. You call the
securities shares" but from the due
date we assume you mean bonds.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
Connecticut Light and Power rs

,. Gues I'll J., opinion the $1,000 600
Company first and refunding mortgage
Per cent sinking fund gold bonds. Series
a. of May l, 1921, will be greatly aporect-
a a1eth This issue Is due May !, 1851 NY
mother bought a $1,000 bond Of this issue
Tor the sole purpose or it being Of use to
ner IN her old age. 1t highly recon-
mended to her for it's safety Reading
your candid answers to questions sent to
you through The Tribune we viii feel
easier II you recommend holding this bond
or buying some that you have suggested.
w. j. F.
Answer-We think that the Con-
ncctlcut Light and Power first and re-
funding Is, due 1851, are good bond
for your mother to hold for her old
age. They are secured by first mort
gage on new hydro electric power
plant, several b-stations and sixty
one miles of high tension transmission
lines. The company supplies light and
power to the industrial heart of Con-
necticut, and SO far as can be seen now
its prospects for profitable and in
creasing business are excellent
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17
n. 7. University Research
Laboratory TO Cost 500. 600

Contracts for the erection of re-
search laboratory for the New York
university, at a3s East Twenty fifth
street, from plans by William S. Greg
DRY, has been awarded John Lowry IT..
~ Madison Avenue, according to
crowns Letters. The building will be
s seven stories, 57x25, and will cost about
Emery F. Wolgamot, of Manhattan,
8Reugns an apartment at 234 Twenty
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-17

Questions Of general interest to ia
oestors UiH Dr. dnsNercd in this COLI
ansn, ~ phich case only initials vii,
% used. Others wiu be answsyed br
mail. Address all enquiries, imclos-,
tng stamped, addressed enpelopc. 70
rftncnctol Editor. Ths Tribune. l5I
Nassda Street. Net. York City.