The Daytona daily news. [volume] (Daytona, Fla.) 1903-1926, 1921-02-03
MEMBER OF THE.
CONSOLIDATED
STOCK EXCHANGE
AT THE BEACH


bright little son, Lester. OF New York
ARE among the. we'll known guests of
the Seaside Inn Since coming here
they have visited Palm Beach. Miami
and other Florida resorts. but re-
turned fully convinced that this won
derfal beach suits them best of all for
their winters play in the South. He
Is fond Of fishing and hunting and
finds this location about what he was
cooking for
Mr.. Noteman is member of the
Consolidated Stock Exchange in New
FORK and has had long and extensive
experience in the handling OF stocks.
bonds aud other securities. When
asked for his ideas as TO the future
'of the money market he said:
NO man can say with any Ger
taiaty what the future viii bring toI
any security. no matter how good i'll
may look As for myself. am known
al home as d junk dealer That is.
| make a business of buying bonds
at their lowest and holding them for
two or three years If necessary, wait
ing for revival in their market value.
am what is called long pull
dealer. Bonds that have behind them
a needed production. but which have
been beared down by certain temper
AIRY conditions are certain to come
back in time, and I have always found
them good buy when they are at the
lowest ebo. They yield a good per
cent on the investment. 1t is not any
practice to deal much in stocks, and
especially when they are enjoying a
boom. | prefer 70 take my chances
with bonds which are secured by the
actual physical property OF those is
suing them
While | never make predictions"
continued Mr. Noteman, as to when
ia certain security viii decline or raise
in value, do think there is a funda-
mental principle which actually gov
erns. The prices OF stable bonds are
controlled by the prices OF eommodi-
tiles. When they are high bonds are
low ana when they are low bonds are
high. / never knew this rule TO fail.
During the war when commodities
were the highest, all bonds. including
those issued by the government, went
10 their lowest point on the market.
| ii the prices OF commodities continue
to decline. and It is my opinion they
viii. the prices Of bonds VIII be cor
irespondingly higher, For this reason
/ | do not think it would be wise for
anyone holding good bonds to sell
them now. because feel confident
lthey will get a better price il they
/ hold them a while longer / can't. OF
course. tell how much longer. This
depends upon the supply and demand
iof many articles OF commerce, upon
IlaBor conditions, the confidence Of in
lvesters and many other conditions.
lTaere has never been in the history
Iof the country and in my opinion, it
/ is doubtful if there ever viii he again
such an opportune time 70 buy good
securities and realize a big income on
Them, as during the past two years.
IS 10 railroad stocks / do not con
sider shem as good buy now as be
fore the valuation of the roads vas
fixed by government appraisal II is
now very difficult TO learn with GER
ltainty the exact assets of a railroad
iccmpany. Formerly the valuation OF
La railroad was based upon It's gross
and net earnings. and 1t was very
easy matter to find out what they
were But it is very different mat