New-York tribune., 1921-02-13
Would Speculate for Long Pail

Question am in the market to buv s.
teW hundred shares of very low priced
stocHs, purely as speculation, and win ap-
PEeGlate any information that you may be
wiling TO give on the following do not
as1 a; you 20 tell me just what these stocks
VIII DO but your many inquiries and nanv
sources OF information will doubtless on,
Apie you 70 form some sound opinion IA 10
whether any or all OF these stocks have
the present conditions OF the country and
traoe for any substantial corle-bacil as 70
mIark"t price; Booth Fisheries common
rms issue has slipped from about 25 in
1919 to nigh OF 10 in 1920. and, l be-
leTee IL about at present DO YOU ss-
crloe the decline in this stock to moor
business or Is the concern headed for =
iecetvership7 Do you see signs Of anT
maproVement in the fish business? lisi,
IRE: Has this company any backbone and
business picks up? 1 realize the nreaent
stagnation in the rubber industry. cas-
ton. Williams & Wigmore This sTnci,
seems r. be worth about nothing. I hear
ahat they plan to reorganize. Have you
any ln1orination on recent Developments
ana IS the stock liable to be assessed in
a Plan OF reorganization? Why isn't 1t a
good buy at present levels for A specula-
tion or are the chances OF a complete loss
too great? Willys Overland This stock
has had big slump, passed the divi-
dends, etc. IT looks to me like a good buy
at these levels for a speculation which
Wouid outstr!p any dividend consideration
tho company Will be able to pull through
the present dull period. inasrnuch as the
dividends have been passed Studebaker
!iRe all motor stocks, has had it's decline
Do you think that it is strong enough to
weather the dull period and come back? ?
Would you assume that the present mar
ket price had discounted q reduction OF
the dividend? l am not expecting an inn
mediate and big come back, but would
expect year or year and a half to
bring big chance or, rather, enhance
ment in value.-F. ?. H.
Answer-The decline in Booth Fish
cries has undoubtedly been the result
of poor earnings. This was evidenced
by the passing of the preferred divi-
dend last December. In the last of
fetal statement regarding the COM
pany's affairs, however, President Ames
stated that its credit position was
good, suggesting that there is nothing
radically wrong with the management.
With revival of the fisheries business
the common should respond. Along
with the other tire companies, Fisk
Rubber has suffered greatly from the
depression in the motor industry, SO
much so, in fact, that directors had
to pass the quarterly dividend due on
January /. Should business pick up
in the rubber industry, however, there
is no reason to suppose that this com
pany would not benefit. There have
been number of rumors recently
about new banking interests buy
ing into CASTOR. Williams & Wig
more that may or may not be the rea-
SON for the recent slight price ad-
vance. What seems better explana-
ton is the continued strength Of the
foreign exchanges. The company has
substantial investments abroad in for
eign moneys and any appreciation in
their value means so much more for
the company Less talk is being heard
of receivership owing to the drastic
economies effected by the management.
WHY'S Overland, during the boom in
the motor industry, expanded too rapid
ly and is now paying the penalty. The
company's bank loans are being car
ried along and once these are liquidat-
ed future prospects should brighten up
considerably. In the opinion of many
observers, Studebaker is in about as
good position as any of the listed
motor companies. Directors meet for
dividend action soon and are expected
to declare the regular quarterly IA
per cent rate,