davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
Woman, 70, Taking Bonds to Europe

Question-As war refugee OF seventy
eight, and allowed only 900 marks month,
~ income. | should like your opinion upor
some small Investments, + hope TO 20 &c
Europe in the carly spring. IL II better to
exchange short torn equipment bonds, OF
which I have $1,000 Bethlehem Steel and
$4,000 New York Central Railroad? Also
is an annuity desirable with the Phoenix
Mutual Life Insuran Company at ID
per cent: Are they quite within the law
IN withholding interest for unexpired por-
ton OF interest period at time of death OF
annuitant Mrs. Il. {.
Answer-We think that equipm ent
trust certificates are safe and at pres
ent prices give high yield, but if
you hold series of certificates that
mature during the time you expect
to be in Europe, it might be better
to sell them and to buy either eouip-
ment trust certificates with a later
maturity date, or some of the high
grade bonds mentioned in these COL
umns as suitable for a person entirely
dependent on income. If you have no
heirs to whom you want to leave 'your
money. an annuity for a woman Of 70
will net you larger income than Won
can get in any other safe Investment
n the annuity contract runs out with
the death of the annuitant the income
ceases on the day he dies.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
A Good Deal of Good Will

Question-It has been my custom, for :.
number of years to submit the annual reI
port OF the United States Radiator Cor
poration. Of which I am a stockholder 70
the financial editor of the newspaner IN
which l mad the most confidence. 1t is
lnclosed herewith. 1 would greatly an.
prsciate your opinion of the condition ~
I'M, Inns com pany. with special reference to the
preferred and common stock ! think
there are about seven years back divi>
bends accumulated on the preferred stoclr
although the preferred dividends have hna -
paid during the last two years.--W. G. u
Answer-The United State, Radiator
Corporation is a competitor of the
American Radiator Company. The
United States company does a much
smaller business than the American
company. yet carries it's good win at
$4,O00,000, whereas the American com
pany does not list good will among its
assets: It would appear that the
United States company common stock
amounting to S4,O0O,oO0. is issued
against good will and has little present
tangible assets or earning power back
of it. Inventory book value was in
creased from $l,8s2,47e at the end Of
the previous year to $2,649,6 97 at the
end of last year. There is nothing in
the report to indicate that the company
is in a position to pay any back nre,
ferred dividend and Ms unlikely to hc
in position TODD so in the Immediate
future.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
Good Stocks, but They Are Speculative

Questi on--I have $4,000 sor inyestuent
~ sno1eK,s,nothins that has the taint Of
Wp enId tI. PVT the good as,gold kind.
stand the test: American Teiephone and
Ielcgraph Company. Atchison Topeka &
SANTA re, Canadian Pacific, Pressed Steal
cdCse TO $500 per year Is consistent with
saiety. Would you advise other stocks tha +
IN your Judgment better? What ha Va
eeen the dividend rates on the above stocks
io1 last SIX years or SO Wv. G. S.
Answer - American Telephone and
Telegraph has paid per cent for MANY
years, and the rate hereafter viii
be 3 per cent. Atchison, Topeka
Santa Fe has paid per cent
from 1909 to date. Canadian Pacific
mas paid 10 per cent for a number of
Years, and Pressed Steel Car paid
8 per cent in 1919 and 1920. IN per
cent in 1918, per cent in 1917 and 21a
per cent in 1916, none in 1916. We think
tnat the stocks you have picked are ex
ceptlonally good for common stocks.
ana the two railroads among the best
OF the rails. Even these common stocks
are speculative in that a continuation
OF adverse railroad conditions might en-
danger dividends. The American Te1e-
phone and Telegraph has heretofore
gone through long periods of depres-
sion with little difficulty, and its COM
mon stock is almost, if not quite, in the
class OF good preferred stocks. Pressed
steel Cars past dividend record shows
how period of depression can affect
1t. You can get about per cent on
combination of good foreign bonds at
present prices.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
"ACWI" President
Tells Stockholders
OF Co.'s Position
Formal Statement Explains
Delays in New Financing:
Shipments of Oil From
Mexican Properties Heavy

The Atlantic Gulf Oil Corporation,
subsidiary of the Atlantic Gulf and
West Indies Steamship Lines, in the
twelve months ended March 81. with
February and March estimated. pro-
duced 14,856,l0 barrels of oil, of which
ll,5SO,6Ol barrels were piped to the
Tecomate terminal in Mexico and sold
or placed in storage. There was loaned
or sold at the we'll 3,225,50O barrels.
These statistics were revealed for
the first time yesterday in report
submitted to shareholders by Alexan-
der X. Nicol, president of the parent
corporation. This statement, which
was issued because of a probable delav
in issuing the annual report to June
or or July, also reviewed the affairs Of
the company last year and touched
upon the falling off in earnings that
made necessary negotiations for new
financing, which have not yet been com
pletted.. Mr.. Nicol, however, states it
TO- be the opinion of the directors that
isfactorily.
Whereas 1t scanned probable during
the spring Of 1s20cthat the program for
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
Likes Atlantic Fruit Stock

Question-What the prospects Of the
Atlantic Fruit Company: Is the stock a
buy al $50 | would be glad to have an
analysts Of It's financial structure.
have nifty shares Stanwood Rubber and
understand its affairs IRE at low cbb
Would YOU consider it good business to
buy at presen, level to make better aver
aga cost, based on prospects OF the COM
pany making early recuperation -. G. X.
Answer-The Atlantic Fruit Com
pany's stock is a speculation, not an in
vestnent. The company owns and oper-
ates large banana, cocoanut and other
Irult plantations in Cuba and Jamaica
owns two large and two small steam
ers and operates more than fifteen
others. The company has outstanding
S1O,0O0,000 funded debt, and in 1919
earned more than double it's interest
charges. We would consider turtle
purchase of Stsnwood Rubber stock
whether to average down cost or for
other reason, purely a speculation.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
Taxes on Foreign Bonds

Question-kingdom OF Norway per
cent, 1910, external bonds have never
seen quoted in any newspaper Why are
.hey not quoted and what are they selling
TOT? IL there any government tax on the
interest Of external foreign bonds issua1
in this country What liz the poyern,nent
tax on foreign internal bonds and foreign
external bonds issued in other COUNT res
ana held here? Is the Kingdom of Italv
BIZ per cent fve-year external bond y
Safe investment. and why are they selI,nr
low. at about SOL. w. g.
Answer-The Kingdom Of Norwav
IS, due 1910, are selling at about 100.
They are traded n actively on the Ex-
change and quoted every day. There
IS no government tax, meaning govern
ment OF Norway tax, on external bonds.
hut there are the United States taxes
on the interest on these bonds held in
this country. Each foreign govern
ment internal issue has special provi-
sions in regard to the interest on that
particular bond. whether>h held at home
or abroad. just as our own Liberty
issues have different provisions fo,
different issues. Italy is poor coun-
try in regard to taxable wealth when
compared with a country like Great
Britain, France or Switzerland. This
may. be one Of the reasons that it's
bonds are selling lower than MANY of
the other European countries external
bonds. 40
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
Cities Service and Copper Export

Question---As a reader of Tho Tribune 7
am DESTROYS of obtaining your opinion re-
garding the following: Cities Service Com
papy series II per cent convertible Rold
debenture and per cent accumulated pre-
ferred stock. per cent gold notes Of
Copper Export Association, Inc. one two
three and four year Pennsylvania Power
and Light Company first and refNndine
mortsags bonds. series A, : per cent. .
Answer Cities Service Company
and Pennsylvania Power and Light are
both, in our opinion, among the public
utility companies with prospects Of
good earnings. It must be remem-
bered, Of course, that the per cent
cumulative not accumulated pre-
ferred stock of the Cities Service Com
pany is dependent on earnings, which
are large at present, for dividends.
The word cumulative when applied to
preferred stock means that if divi-
dends are not earned in one year but
III some following year sufficient is
earned, back dividends may be paid.
We consider the per cent notes of
the Copper Export Association a fairly
good investment for short term funds.
A few years ago, lending money on
merchandise was considered solely a
bankers function, but the element Of
novelty does not seem to impair the
worth of the issue.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
Youth Invited Into Risky Project

Question was in touch to-day with a
broker who said he would buy bonds on
margin UP to 10 per cent, depending on
the grade Of the bonds. have 81 900
that I wish TO invest in this way FOR it
for a business venture. Would YOU plea 80
send me- a list Of about ten bonds that are
considered good Investments and which
yield between Z u and per cent on the
present price OF the bond, disrega riding
the difference between the price and 100 !?
Would you also advise mo just how many
bonds | should buy under this plan. and
also whether you consider buying on mar
gin advisable for young man whose
total capital is about s1,5oo?-H. C.
Answer-We Will not advise you
about speculation, whether your trad
ing is going to be in bonds or oil
stocks. We suggest that you be very
careful what broker you choose. Repu-
table brokers invariably require more
margin than the 10 per cent you men,
ton.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
Tempted by eLa Per Cent Yield

Question: own the following bonds.
Would like to know if they are safe as 10
principal and interest: Swiss per cent
BOND = W. Stratus 6 per cent first mort
gage, Pere Marquette per cent frst mort
gage E.. Midwest Utilities per cent $3.50
Liberty bonds. Any change you may sug-
gest concerning above bonds would be APP
preciated; ! cannot afford to lose. What
90 you think of American Writing Paper
company first mortgage per cent bonds.
yielding s'a per cent: also per cent Cen
trail Vermont Railway bonds Yielding gla
Per cent" DO You consider these bonds
saIe Investments and are they Issued in
woo denominations?-J. G.
Answer-For man who cannot af-
ford to lose we think bond yielding
over per cent is invariably insult
able, although we think the Central
Vermont 5 per cent bond is fairly we'll
secured. You had better stick to tho
class Of bonds in your present hold
ings. The list is a good one, we'll
diversified, and we consider all of the
bonds reasonably safe. Neither the
Central Vermont nor American Writing
Paper bonds come in $500 denomlna-
tions.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10

the development of an oil business
might be carried out without the neces-
slty for borrowing" he stated, ut new
ertheless was indicated in the last
annual report, that some financing
might be needed to complete the pro-
gram. The failure to receive earnings
expected from the steamship business,
from the tankers and from the Atlantic
Gulf Oil Corporation, in addition to the
necessity for making additional ad-
vances to the oil corporation, made
necessary q larger amount of borrow
ing than had been anticipated, so that
late IN November, 1920. negotiations
were undertaken looking toward a
financing of your company's. needs.
AT that time charter rates were still
very high for tankers, and your man
agement felt confident of large in
come accruing during the year 1921
from this source, as we'll as Of the re-
ceipt OF excellent earnings from the
MexEan oil enterprise. As matter
OF 1sct, tankers sold as late as the
middle OF December in excess Of 5000
per lightweight ton.
UNFORTUNATELY, however, the tank
ers built had reached the point of
supplying the sdemAnd, and with tn.
general let, down in business the mar
ket for tankerss suddenly collapsed,
SO that under Tie present oppressed
eondltlons--which your management
hopes are temporary very little in
come can be expected from your tank
ers, except from three which were put.
out on time charter prior to December
10. Under these adverse conditions.
which have come at time of serious
financial stringency, your directors
have found it extremely difficult to ar
range the necessary financing to, com
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
Has Interboroughs Mixed 10

Cueston--In answering a question on
March you state the lnterborough Rapid
Transit paid annual dividends OF 20 per
cent. Does this mean on each share OF
stock or does it mean the entire annual
dividend paid out was 20 per cent? In
other words did this eXtravagant output
OF dividends help to loot the corr pany? /
have ma. letter from my broker stating the
Peterborough Consolidated never paid a
dividend and the highest dividend the
Brooklyn Rapid Transit paid was per
cent (pcr share). So ] would like to be
enlightened and settle an argumcnt--M c.
Answer-The Interborough Consoli-
dated Corporation owns $33 ,912, 800 of
the total $35,000,000 lnterborough
Rapid Transit stock. The Consolidated
company depends for dividends on the
Rapid Transit stock to pay interest on
Its "a per cent marlborough Metro
politan bonds, and when dividends were
suspended on the Rapid Transit stock
in 1919 the Consolidated company went
into receivers hands. 1t was the In
ter1iborough Rapid Transit, not the Con-
solidatcd company, that paid 20 per
cent dividends 1914 to 1917.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
Atchison Compared with North West.

Qusstion--liow do YOU compare Atchi-
son, Topeka a. Santa Fc common with Chi
' "ag9 4 North Western common asa spec.
q large block or Chicago & North Western,
bought at sl16. cnn afford to hold IL.
va, ,,a'o hau tho stock for three years DO
{. IL. x. " WIZ 'NV' 'o'"' 's'S -
Answer-Your question brings up an
Interesting comparison. The Chicago s.
North Western operates 1901 miles Of
railroad in tho granger states of the
Northwest. 1t is an unusually econom-
zeal road to operate. Its traffic is we'll
diversified and carries high rate.
While it runs through highly COM
petitive territory, it gets the best of
partly because it is the Oldest road and
has tho best location and partly be-
cause it has always given high class
service. Its securities have for many
years been considered gilt edged, and
even its common stock was regarded as
almost in the investment class, at least
the business mans investment class.
Its financial structure is conservative,
1t has only about $4,000 of funded
debt mile. Its total operating, reve-
nues mile in 1916 were $12,OS4 and
the ratio of expenses to earnings was
66.48. Nevertheless, in 1920 it earned
09,700,000 gross, but had less than
$1,000,000 left after paying operating
expenses and rentals. This is the earn
ings from operating the property itself.
The company received government rent
ais for eight months Of 1920. 1t would
seem, therefore, that, if any of the
railroad common stocks are to come
back, the Chicago & North Western
should be among those that do. On the
other hand, the Atchison, Topeka g.
Santa Fe, operating about the same
mileage and getting an average ton
mule rate 10 per cent higher than the
North Western, earned $27 100000 above
operating expenses, taxes and rentals
IN u, WV which would have been ample,
1t the company had not been receiving
rentals for eight months, to pay inter-
est on its funded debt and it's 6 per
cent dividends. We do not undertake to
advise regarding sneculation
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10

Question have on hand number OF
shares OF the Peterson American Aerial
Navigation Company, Inc New York
state. 1896. ls there any value attached to
sanc?- Kindly let me have all the In
formation possible the National l.ife
Protector Company, the ahares OF which
are now being sold by the Jackson Sales
Corporation. What arc their possibilities?
II. II.
Answer--We have no information
about the air navigation stock you
mention. If you arc curious about II
you might write to the Secretary of
State at Albany and ask If the charter
is still in force. The National Life
Preserver Company has a scheme to
sell suits which will enable one to
jump into the sea and float about in
definitely without discomfort. IF that
ever gets to be a popular pastime we
have no doubt many Of the suits could
be sold if nothing better were devised
to take their place.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
Holds an Unmarketable Stock

Qucstion--Will you kindly favor NJ.
through your columns with information on
tennessee Agricultural and Chemical com
pany are they now paying dividends on
preferred stock? What is the present
market value OF the preferred and com
mon issues w. H. G.
Answer-The Tennessee Agricultural
Chemical Corporation has 100000 8
per cent cumulative preferred and ST.
100000 common stock outstanding. The
preferred, which has par value of So.
Is quoted at $3.75 offered, with no bid
price. The last dividend paid was 2
per cent in august, 1920, at the rate
OF per cent per year. There is no
market for the common. Both pre-
ierred and common recently sold 1t 80
cents per 50 share at auction.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
Telephone Bond Is High Grade

Question: am seriously considering an
inSesiment OF my only savings of 81. 900
IN New York Telephone Company honda
would Ike you to send mo ali the In
formation you deem necessary about them.
particularly nc TO the time they mature
and whether there are different New York
Telephone bonds maturing at different
times Are these bonds a good paving in
vestment MRS. E. B.
Answer-There arc two issues Of
New York Telephone bonds, a first and
general AZ and per cent debenture.
OF the two we would advise the pur-
chase of the first AIS, due 1899, inter-
est payable May / and November I,
at the company's Office in New York
or Boston. Company pays normal 2
per cent Federal income tax. 1t is Sc
cured by a mortgage on the entire
property of the company and in our
opinion is q high grade investment. 1t
was selling recently at about 81.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
To Cut Wheat Imnorts

MADRID, April 9.--Furtier impsr-
tations of Foreign wheat into Spain
will probabl. be restricted. said Juan
de la Cier,a, Minister Of Pubic
Works, speaking in the Chamber or
Deputies here yesterday. He said sna.
prices continued to decrease, and tnas
the government must tr to defend vac
interests Of the farmers. The MINIS
ter declr ed the Dato government naa
been justified in importing wheat se,
cause there was fear of shortage ana
Of resultant high prices.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
Bonds Yielding 7 Per Cent

Question--W is your opinion about
California Petroleum preferred as an in
Nestment! VIII you also name several
bonds Industrial or railroad. with Ut
least per cent yield which you con
slder good investment ?--S. l..
Answer-Californa Petroleum pre-
ferred is, in our opinion, speculative.
New York Central debenture 6s, due
1885, yield 1923 per cent; Southern Pa
citic-Central Pacific 5s, due 1949, yield
7c8; Union Pacific convertible As, due
1927, yield al per cent; Westinghouse
Electric and Manufacturing Is, due
1881, yield 7.31; International Mercan-
tile Marine first IS, due 1871, yield 7.94,
and De Laval Separator IS, due 1881,
yield per cent. We consider these
bonds good investments in the class
that yield at least per cert
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
Submits Unusually Good List

Question: have bought these from
time to time for Investment. and II you
think It would be advisable to substitute tut
] would also like to invest an additional
$4,000 in fairly long term bonds to yield
& to per cent annually Your opinion will
greatly assist mo in making this purchase.
$4,000 Atchison. Topeka & Santa Zee adj
justment 49, 1905; $4,000 Chicago, Rock
$1,000 Illinois Central Railroad collateral
a.. 1853 $1,000 Illinois steel Company y
per cent. 1870: $1,000 Atlantic Coast Line
Republic As, 1875, $1,000 Southern Rail
way IS. 1894; $1,000 Chicago. ST Louis 8,
New Orleans 81 1891; 5000 Grand Trunk
Pennsylvania 7s, 1916; $1,000 Oregon Short
Line 6s. 1876; $1,000 Westlng house I1lcc-
trio is; $1,000 Northwestern Bell Telephone
Is 1871; $1,000 Southern Pacific Central
Pacific collateral AZ, 1919: $1,000 New
YORK Central debenture g., 1885; $1,000
A ,"l oaS Power and Light Company Is,
graph Company bs. 1916; 81 900 American
Telephone and Telegraph Company As.
Stocks, ten shares each: United states
Steel preferred. Standard Oh OF New Jer-
soy preferred Union Pacific preferred.
Baldwin Locomotive preferred, Atchison.
Topeka & Santa I'c preferred. Great North
Hallway preferred. Virginia Carolina Chem
teal preferred Pan american Petroleum.
Class Be-. a. II.
Answer-We consider your list I'M
usually good, and this applies to the
stocks rs we'll as the bonds. You un-
derstand, Of course, that the Great
Northern preferred is preferred in
name only, SO that, in our opinion,
Great Northern preferred ranks con-
siderably below Atchison preferred and
probably below Atchison common The
only foreign government bonds you
have are the French IS. In our opinion
Swiss IS, the Belgian 7las due 1915
and the Danish consolidated municipal
IS, due 1915. are good investments at
present prices. Union Pacific converti-
Bile As, due in 1927 conversion privi-
.ege eXpired), which are selling at a
price to yield abou. no per cent and
any good equipment trust issue would
add tG the diversity Of your list.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10

plete your compsny's construction
program. This problem is having taf
most thoughtful study at the present
time, and your directors are confident
that the problem can be worked ors
satisfactorily" ~
Mr.. Nicol for the first time officially
confirmed reports that the AGWI com.
pany has discontinued the construction:
OF the French pipe line from Havre "
Paris because of the precipitate de-.
cline in earnings and the difficulty
in financing.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10
Pennsylvania Trust Certificates

euestion--Do YOU think it advisable to
sell Pennsylvania COMPANY az per cent
trust certificates. series and G, at the
present market price "A. W. +.
Answer-We think the Pennsylvania
Company 31a per cent trust certificate,
series and c, are sound investments
The last sale Of the BIS was at 67 in
December, 1920, and the Cs was at 70 g
in January, 1919. Most railroad bonds
may sell lower unless the railroad earn
ings show Improvement, but we see no
reason why you should sell these par
ticular bonds more than any other good
railroad bond.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-04-10

tluesion--Will YOU be good enough to
CIV" me your opinion on Northern On
tarlo Power per cent bonds, due 1881?
IL. $. W.
Answer The Northern Ontario Power
per cent bonds, due 1881, are secured
oy first mortgage on the entire prop
erty of the company, which, according
to its last report, is earning about
double its interest charges. We con-
slider the bonds good investment