davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-11-12

y
Every one knows that the Puget
Sound branch of the st. Paul system
was built to compete with the other
trunk lines in the Northwest. It cost
the st. Paul huge sum to enter this
deid of keen competition and it is be-
cause the extension to the Pacific Coast
has not been made 60 pay for itself
that st. Paul securities dropped from,
a sound investment position to the
sro.''-'"+'ve class.
We have also heard Of the New York
Cent4as mestern Maryland merger
rumor. Under the Interstate Com
merce Commissions tentative plan for
consolidating all the railroads of the
country into nineteen systems the New
York Central Is made the nucleus of
system No. I and the Western Mary
land is included in this group. 1t does
not follow, however, that even If q mer-
ger Of the Central and Western Mary
land should be approved and carried
out Western Maryland would imme
diately take on the same value as New
York Central stock.
Rarely do we find that the stocks Of
two parties to merger are taken intu
the combination ut the same value.
for it is seldom that two stocks have
exactly the same equity. There is not
one chance in million Of Westera
Maryland being exchanged for New
York Central on share for share
basis. There is greater equity and
greater earning power behind Cleve-
land. Cincinnati, Chicago l. st. Louis
common stock than there is behind
Western Maryland common. Yet you
will notice that the New York Central
in its effort to acquire the minority
New-York tribune., 1922-11-12
Bond Salesman Too Energetic

Question~-Your kind and prompt een}5,
M, nv "iy ,ekter or inquiry came to-day and
20 not think, any change in my invest
istins tht,, heessssry or at least Imperative I
LINK 6tanH Wiii withdraw some of tho Cana
alans into American Investments an
nave 8 favorable opportunity. although Il
tria, 1Tas lot 10 seem to me to be pressing. 4 have
~. 'en 10, 70 secure as many Don-callabie honda
Us possible. as my real estate p,ortpageE
IAN IA. due In 1926 and 1927 ana goodness
marxst T9at may be TIE state OF tho bont
n,s,,.in, Sh1n S; so wlshed 10 lay a sub
paragraph entitled shoT s., Trr6nn9 rnn has
sonds,. which ~ surely intended for bus!
eolt, arc dependen, on the ipcona >' WV,
in"essments riSl II would be like lndipg
ihm1ney h, sy II al goee through as per schedu!s,
II IL did not. My friend. the hond 49,,
M' Nah' Is the representative OF "a substantfaI
sn nmm york: house, with which I havs lon.
o: his advice is goodoSbu, Am ~ rrqen r,,is
Lhat no has rather S4Yvous. restIess Iai.s' ta,,
pTy pTofli 10 n,siting Ing ana buying and taking .
vice so far has had my ~ own pS fpii ms cau aa-
sent. sent. but don's1 thtal, /, a whniaso,nn Ivr.,
I'm. .,anie or mind to be always planning to
taks profits" The habi. may degenerato
INTO that of Speculation Then Sss,eeFI,e too1 he
may nave an ambition to make husJne.s .ss
~, 81 snaS ro, THIS branch may seem active to
no is hones4 ana wide awake and 49,,
in earn TO get along With him, and he rnnst
In m,a5, ~ seaHe mo and my long term bonaa
cenaois tion when YOU indorsed NV on,n.
ion---M. II. b. iy op'n-
Answer-Wc approve of your dec;.
sion TO leave your "long-terr1 bonds
IN middie-aged peace" Eneroe,,S
salesmen have penchant foe, "takin,
tneir customers out at profit" ana
puttlng 9tt;. them in something else. This
ses.taae OF keeping customers in
aUtlnea aUtI oi price movements and future
bond purchaser is lookinp fnr nroate sae
or where the customer is not abla a'Aso Us
Keep in touch with the affairs Of corr "
panlos whose securities he holds h',t
constant shifting is generally nndas
str@b!e from strict investments yiew.
New-York tribune., 1922-11-12
Glass Casket Corparation

90estton---Sone years ago we narch. .na
stoek IN Glass Casket Corporation. All
Ss, nSye neard in all the time we have
ms1s nsn mrs ~ offers OF additional stock and
PROMISES that operation Was sr secta aa
st sstt,oFtiy. VIII You give me some ipfortna-
as.. s.om as 70 what you may know OF thix
Answer Affairs Of the Glass Cas-
ket Corporation Of Altoona, Pa. were
lett IN muddled condition. finaneia,lv
speaking, when S. w. Manning took
charge as president. 1t was apparens
that more funds would be needed 10
continue operating the company's pls,t
and IT was decided to attempt 80 raise
money by the issue OF bonds. The coy.
pany is no longer selling stock and rs
hscai agent has been DISCHARGED 40.
cofaing to word from Altoona. The
present management has not been dis.
posed TO abandon the attempt to nro-
ooee glass caskets in favor of other
glassware. Despite the fact thar
the $4,000 bonds now offered are So.
cured oy property the value of which
IS placed in excess Of 100000. we arc
not inclined TO regard the securities
with favor, since earnings of the corr
pany arc probiematical, to saw ths
least. Shares of the company xvb;nb
were widely peddled in western Penn.
ssYlyanla, were recently quoted bv
brokers' specializing in unlisted Ga.
eurities at So to SIS each
New-York tribune., 1922-11-12

stock of the Cleveland, Cincinnati, Chi
cago IL st. Louis is Offering to ex-
change only eighty shares of it's own
stock for 100 shares of c., c.. C.. &
St. il. What the ratio would be in case
the Central should decide to make an
offer for Western Maryland, it is diff i
cult to say.
We know of many railroad common
stocks that we consider a better in
vestment than st. Paul or Western
Maryland common--New York Central.
for instance.
1t is characteristic of statesmen offer.
ing stock Of new corporations to point
knowingly to the market value of pio
neers in the particular field in aues-
ZION. 1t makes no difference whethe'
1t Is real estate mortgages, oil, radio,
fountain pens or chain stores. We re.
gard as speculative the stock of any
corporation organized to compete at
some future time with successful cor
porations in field that Is destined to
become oVererowded, If it has not al
ready come to chat stage.
We advise you immediately to- poin,
TO the door leading to the stree. whe,.
any agent tells you that the State of
Ohio is guaranteeing the stock OF new
cooperation, or, for THAI matter, any
corporation. If such guaranty were
legal every one who owns State Of Ohie
bonds, yielding only about per cent
would Immediately rush to The Office of
the Southwestern Mortgage Company
and clamor for the privilege Of taking
the per cent preferred stock with It's
bonus Of common. A stock with the
State Of Ohio's guaranty would be just
as good MS the states bonds.
New-York tribune., 1922-11-12
Substitute for Called Stock

Questson---I have SO chores OF r. w
Woolworth Company preferred stock, thnt
Is going to Gs called at 126 February J.
1923, and would Hike ia invest some in
a number of bonds and preferred stocks
that would give me about the same
amount OF interest and security that this
stock has had. j have checked up q mum
street Journal and am writing to inquire
whether you would consider 1t good policy
for me to spread this money, aS,600. over
a number of these bonds. I would like
70 get as high q rate OF interest as possi-
pie ana at the same time feel that my
investment is cafe. / am Sc years OF
age. still employed, but do not want to
take chance.--H. L. g.
Answer>-Practically all the bonds
you checked on the newspaper list in
question are callabls. at the option of
the borrower, and for this reason YOU
probably will be confronted with a
repetition OF your experiences with
Woolworth preferred stock. Another
objection is that we do not approve the
investment Of all your funds in high
yielding public utility bonds. The best
on the list are Northwestern Bell Tele-
phone Is and Bell Telephone of Penn
sylvania rs. We suggest that you take
$4,000 of each OF these and invest the
remainder Of your fund in St. Louis
San Francisco prior lien 5s, 1850, yield
Ing about 6 per cent, and Canadian
Northern rs, 1a40. yielding about SIS
per cent
New-York tribune., 1922-11-12
Hiah Pressure Methods

Cuestion---on or about October 6, 1e22,
G. Sumner Moore & Co. phoned ana cold
n1e ten shares Campbell Refining pre-
ferred stock at sI2 e. share, $40. 1 s.nt
check for $780, balance in thirty days.
About October 20 they phoned that Camp
sell me afteen shares at sI4. $40 in all.
using the ten shares had already pur-
chaaed or collateral. If l sent check
for $50 to complete payment on tho ten.
This / agreed 10 and received confirma-
tions On October s6 ! waS told over tho
phone that my Campbell Refining had
been eold 80 l6E and they had a check
for me, but should telegraph s21o for
payment Of ths fifteen shares But when
Ace here they said my check would do.
sent the check for $40 and received
twenty i've shares OF stock which do not
want. I called them up and was told
was Sd lucky TO even get the stock y
What can be done In this matter? ] en-
close some OF the papers aud iettera.---
s. L. T.
Anawer-- High pressure methods in
peddling stocks of uncertain value by
telephone are not new. At the time
the transactions you cite took place
brokers in the financial district were
endeavoring vainly to find bids for
Campbell Refining securities. The
only part in the correspondence we
can indorse Is the reply you say you
received when you called up the firm
to protest. You we're indeed lucky
to receive the stock, even though you
may discover 1t difficult TO find an
other buyer,
New-York tribune., 1922-11-12
High Prices Feature
Boston Wool Market
! SSgsose! pssposoh 50 rae Tsswne

BOSTON, Nov. 1.-The high levels
which wool has reached continue 20
be the chief feature of the Bostes
wool market. Prices seem almost pro-
hibitiye, and manufacturers in some
cases are eaYefui ABOUT buying. al
though others feel that they are ;,rss
titled in buying wool and charging
commensurate high prices for theil
product. One element In the situatioa
IS that goods have not yet reached fies
ures whscf are on parity with ths
prace OF woel, tops and yarn. Efforts
have been made Co advance the prices
OF mems wear goods, the most prcnii.s
neYt manufacturer In the industry ta6,
ing the lead, with others following
suit. Whether these advances VIII
hold for any length of time, however
remains to be seen. They were made
after a substantial amount es esdsps
had been taken for the same grade DR.
goods at lower prices. 4*
Yet it is the opinion OF the tra9a.
that some mills have taken time 't5y
the forelock. seeing the present situasl
tion coming, and have accumulata&
considerable quantities OF wool az
lower prices than are charged now ana
can afford to sell their products Ill.
lower figures than must be asked sar
goods made from raw material pus-
chased now. This. il true, will have i
great influence on she future 81 the
market
New-York tribune., 1922-11-12
Would Abandon Dividend Payer

Question: have 4tc shares Great
Northern Ore. Have had the same several
ycara. average cost about SO. have been
thinking of selling Ore and investing the
proceeds in Southern Railroad common.
WIN you kindly let me know if you think
this rs an error or bad judgment? Would
You suggest Cerro de Pasco instead of
Southern Railroad common ii. F.
Answer--The switch you suggest 10
q speculative venture ON which we can
not attempt to predict the outcome.
From an investment viewpoint we are
inclined to question the wisdom OF re-
linauishing q dividend paying security
for one on which dividends have never
been paid. The outlook for the South
ern has undoubtedly improved, how.
ever, and from speculative view the
stock may have possibilities, but in i'm
duiging In venture of this sort you
should be able TO assume the risks risks
involved. Cerro de Pasco stock does
not receive dividend and cannot be
regarded as an investment, but it has
speculative possibilities.
New-York tribune., 1922-11-12
MercantiIe Marine 6a

Question: am a constant r..>a.
yonf column and all The bonds now boid
iinnss Desu Nsasia aasino,iimended by you at various
me very little concern as rsearas .,r Sivn
Sastr S5asrtfy' I have $1,000 now with which Il /
some Information before purchasinr e. "amr a.,,
long time you frequently Suggested IN. IN.
seInattonal % Mercantile Marine 81, i 1ssi IN, as
az again in tho market to buy one. Il has
now been long time since / hava not,nsS
:, nsaSon9a r19,nn ana would like your views
this time. It is quoted at abont bsnehs ~ Sr a.
as B moregags bond. what does this rnort.
swns eags cSyer7 Mo u. The company, Understand,
lines It 9peratea as we'll n's' as oons sne Ssr9gs
Feat s,i, estate in England. Are ali thess
anv nSs shins .ne,ndea ennIs in the mortgage2 II
as am somewhat familiar with ahir
ysioes az tne present time realisa thai
Shat tpiaE ia ths Is a. low ebb now and presunrs
,Ia- Ins-. ~ the reason the bond is salltng at a
~ a,sc9uht However, the Intermntionai Mer.
oahtlls Marine is, I believe. well nanarea
it, sSsrs he ~ fac,litiss at its disposal to got
change All tha information yon can r,vs
me IS Wsu as your opinion resarding the
B. sSnf = f. ssF Investment win he spDreaia'saS -
Answer - International Mercantile
Marine IS, 1941, are well secnred IN
our opinion, but have deprecated tn m
some extent because Of unsettlad cor
ditions in the shipping industry and as
. result of general Slight reaction in
bonds. The bonds are secured by frat
mortgage on all the property OF the
company owned or hereafter acquired
by the proceeds of the issue, included
in. the collateral being the following
ships: New York, ST. Louis, PhiladeI-
Rhia, ST. PAUL, Finland and Kroonland.
Ihe bonds are also secured by de-
posit OF the owned capital stuck Of
several operating companies. such rs
the White Star Line, the Red Star Line.
the Dominion Line and the Leyiand
Line. There was outstanding at the be-
ginning of the year $37,313 600 Of an
authorised Issue Of $5o,G0o,000.
New-York tribune., 1922-11-12
Not In Investment Glass

ouestion---Am a daily reader OF your
me II Yukon and Texana. traded Or hsted
on the Hoston Curb, is Yukon Gold, ss'ad
by Lawson in 1902 at SIS a share, AMI II
tfe other is Texan ma Oil and Refining Conn
many, wh.se headquarters were Formerly
New York City? Would you please state
price of each and In your opinion II fair
investment ?--S. s.
Answer Neither of the stocks you
mention has any investment value.
We are unable to quote market on
Texas Oil and Refining, which is the
on,y company that the name "Tex-
snnn suggests. Yukon Gold was incor-
uorated in 1907 and Lawson was in
/. Yastcd in it. The shares are listed
n Boston and recently sold around 3f'
cents. The stocks are highly specu-
latiYe.
New-York tribune., 1922-11-12
Cleveland Disco,,,,t

:, Question-About August. 1918, 4 bought
SIX shares Of preferred stock at SIoo a
snare =, and three shares of common stock
AZ slo share from the Cleveland Dia-
count Company. Cleveland Tho preferrea
stock pays per cent, wnile the common
recently has paid s24o q share. The
Cioveland Discount Company now offers to
give me two shares of common stock for
each snare OF the preferred stock Would
IL be Wise TO exchange the preferred stocls
iof the common. figuring that the com
mon stock will increase2 Ia the stock Of
the CleVeland Discount Company listed or
any ni&rket?--S. +. II
Answer-Unless you desire to specu
late upon the future success Of the
Cleveland Discount Company. we see
no reason for exchanging The z per
cent preferred stock of the company
for its common stock, which pays divi-
dends only if earned. 1t is the wish
OF the company to retire its preferred
stock, but we do not regard the PRO
posed exchange desirable from an in
vestment viewpoint The stocks arc
nov hsted on an exchange, but ars
traded in among brokers dealing ia
this class of securities.
New-York tribune., 1922-11-12
Renewed Selling
Pressure Results
I'm Break ON Curb
General Tendency Lower rs
Traders Take B g a ri o h
View; Standard Oils Are
Subjected to Pressure

Traders took a more bearssh view Of
the market situation In yesterdays
short session ON the curb and stocks
turned reactionary as the result of re-
newed pressure. Standard Oil shares
were subjected 70 selling.
Standard Of Kansas advanced 40
points on stock dividend prospects, but
others i'll the group lacked support.
Declines were small in most instances,
hut were general throughout the list.
Imperial of Canada lost S points,
Prairie Pipe Line 0 points and Stand
ard Oil of Indiana more than points.
New York shares sagged s points.
Industrials moved within narrower
range and developed some resistance.
Mining shares were fairly steady.
Bonds continued TO ssg.
TuSneAyfafs
New-York tribune., 1922-11-12
Two Preferred Stocks

Question - kindly tiscuss the invest-
n,&,lt value of Du Pent de Semonrs oe-
hrnture stock and Westingnouse Eiectric
prcf.Ysed stock, ais. their advantages ana
dtaadvantageg conspared to othsr pre-
ferrs4 stocks Of the same general class
Answer--We consider du Pont de-
benture. stock reasonably good. 1t is
not selling as high as the best grade OF
nreferred stocks because of the element
of uncertainty in this companys busi-
ness. Western Electric preferred de-
serves higher rating. You may sp-
precIate the margin of safety when
Won consider thai the American Tele-
phone and Telegraph Company, which
controls the Western Electric, was wiil--
ing to have this issue of preferred
stock placed ahead Of its own securities
New-York tribune., 1922-11-12
rflee Ranges Worry Retailers

Sss;as sss;sssslefs, while they expect a good
yssr ss,''sss during the remainder Of, the
& ss;s especially before Christmas, are
ssss;ahlng to have some doubts con
Ing the pace of trade after the turn
ac year. The advances in prices
have been made in many cdmn,o-
b s IN the last few months, will be
5s,.,so 9 some extent by consnm ers
sss.ly s,Siy after the first OF next year. The
hi. ;sasn.s are skeptical concerning
s,ss. M aellity to pass ali of these in
a. ses on TO their customers. They
psasis ioW trying to discover what the
ains1 as price range is for their indi-
csasas cilentele and are making some
d a sses = u their merchandising policies
it's bal;a Price ranges. Some stores,
d II siieVed, will again drop to lower
es;e. es"rchandise in order to keen
III, ranges within what they believe
sa-Sfliers are willing to nav.
New-York tribune., 1922-11-12
Inquiries Should BE Signed

Inquiries addressed to this depart
ment Of The Tribune are regarded as
confidential, but to show the writer's
good faith ell should be signed, and
an address should be inclosed for re-
ply. Letters from the following are
being held for identification: W. W.,
Investor, J. r., A. A., IA. K. j. T. c.,
w. A. B., w. W., J. G., j. H., w. E. H,
Nj. r., G. F. s., J. b., Constant Reader.
F.. FL. T., e. r. S., }. r., Widow aud
IJ. p, NJ
New-York tribune., 1922-11-12
General Electric s'specialn

Guestion--Could you please tell me any.
thing concerning the new stock of Genera,
Electric Company put on the market.
what the par value is, and what interest
1t pays. and whether you censider 1t safe
Investment &C. -.
Answer-G General Electric special"
stock is issued in the form of stock
dividend on that company's ordinary
common stock. The par value Is $40
and the dividend rate 6 per cent. This
stock possesses all the essential quail
ficotions of a preferred stock, having
preference as to dividends over the
ordinary stock. It is a good invest
New-York tribune., 1922-11-12
Seeks Jersey Security

Question: wish to invest about 81 900
IN some high grade security OF corpora
tion chartered in New Jersey, and regard
safety Of principal as of more Importance
than slightly higher current yield. win
lowing: American Smelling Refining De,
1s47; Bethlehem Steel hrst refnndsng 5s
1912; Newark Consolidated Gas 5s Sabout
ls4s); United Electric Company OF New
Jersey Il do not know the date); United
States Rubber s5s, t947: International Har-
srrd ess.es et 'sd aees stesi pre-
ss 1863, and Central of New Jersey 6s
1887 Is there anything else you weula
suggest 20. w. K
Answer--We suggest for your 81 600
Public Service Corporation OF New
cent. All the stocks and bonds which
you have under consideration are good
Investments.
New-York tribune., 1922-11-12
investment information

Qtesssoas Of geacra, interest 10 i;,-
uestors ssssH be amspered ia tk:s col
asaH. m aehtcA case omlv initials ,psu
oe nsed. others fotlt be unswerod b.
aad'l. Address all isaqairies. i,aloa.
,ng a stamped, addressed enverone. fo
f.smaseiat Editor, Tke Ts1baae. Isl
sasSau Street. New York Citg.
New-York tribune., 1922-11-12
Holds BeIRian Bonds

Question: have two $1,000 Belgian Sc.
also $4,000 In savings bank at per cent
Belgian Investment and she disposal OF the
bank deposit for better rate Wv, l. C.
Answer--We see no cause for concern
over the Belgian bonds. AS for the
bank deposit you might buy shares OF
New York Telephone preferred at about
10 TO the amount you desire TO with
draw.
New-York tribune., 1922-11-12
- .ondon Money Market

rrai.s ~ l. Nov. 1l-Bar gold was
i ii aa . s2s. Sd. Money was loaned
hort per cent. Discount rates were
cent saa three month bills 2ia .per
New-York tribune., 1922-11-12
financial I Items

sswysrssa, has mas been elected d,raata.. aanhst
csnadlan re pd and Trust Company.
Sss,4,erdsy a,dsk sank OF Commerce. directors
G. EdrarSS.ssa rS.sa Gordon G. Edwards. Of
ssser. 20, Ltd OF ottawa. q
New-York tribune., 1922-11-12

Total sales stocks. 452,se shares.
Total sales bonds. ss7s,aae,
New-York tribune., 1922-11-12
Standard Oils
independent Oils

500 Aican OIL. .... 2 z 2 9
1000 sAllied 0fI.... 2 2 3
400 Atlantic Gulf. sia eH sis sa
200 Ark Nat Cas-. 9h 81 9M Sh
1909 sBoone Qil.... Q 8 9
40e sBoston-Wyo.. 50 400 9S 100
2090 sBig Indian. i. 16 ~ Is Is
100 BRAIN OIL Ltd. S9M 2sM 36Ts Ss1&
yT60 Carib Synd. 6 5 IA AZ
25 Cities Service. .1S9 t9S tea agS
200 do y ctis...s 2eh soy 20i5 a9is
100 do pf.s..-.s. 70R TOM 1885 70M
1eo do pf b b.. s1 81 81 81
a90 Creoie aynd.. 2A az aX 2M
100 Equity Pet pf.. 15b 15m 1sM 35h
1900 sFederai OIL. 80 90 67 ~
1900 Glenrock OIk.. la In Az IN
500 Granad CH.... AK 2% aM 2M
1909 Gulf OH " i.... SBM sak SIS 6SN
5000 sHudson Oif.. Ia IA IA IL
see Int Petrol. 38T S3Sk S2A 22M
1000 sKeyatone Ran. 20 10 Is 80
400 Kirby Pet. S1A sIs
600 sLatin-Am OIL. s5 be SO &c
goo Livingston Pet /
Ss5 Magnolia Pet. 2sA 3s9 3s4 254
zoo Magma OIL. IN liz III IN
2bo Maracsibs Oil 1915 1874 ist 7sta
Hyder Alaska miner., 1922-03-15
IMPROVEMENT
 IN ORE SHOWN
 ON B. [, GROU

MT. and Mrs. H. c. Shoueh cal up Thursday from the B. (. gro near Georgia river. where they ha been doing development work. II was their first visit to town sin early last December. They are W satisfied with their winters wo and went back to the camp Mo day to fly at it again.
 They started a tunnel on one o number of parallel leads, but af getting nine feet under ground ( cided to abandon it temporarily account of difficulty in handling snow. The face of the tunnel is solid ore, a hard, blue quartz 0; rying a considerable amount of lena and iron sulphides. Anotl tunnel, lower down the hill | been driven 20 feet and shows pr; tically the same conditions as | one above. Last season they 1 tained from surface ore assays rI ming up to $256. principally in gd and while no assays have been tained recently MT. Shough sd the ore in both tunnels appears be of better quality than the sal pies assayed last year.
 The group consists of five clai| and lies about a quarter of a n| from the beach. Their cabin near the shore, about 1900 fl from the work. Next summer th expect to build another cabin cl to the showingS.
Hyder Alaska miner., 1922-03-15
ROMA DISASTER VICTIM
 FORMER ALASKA BOY

A recent number of the Juneau Empire, and also the Buffalo Ex- press, carry a picture of Master Seargent Roger McNally, who was one of the 34 who lost their lives when the giant dirgible Roma ex- ploded Feb. 21. McNally and Wal ter Blanton mushed out from Idit- arod to Anchorage together and both joined the army when the United States entered the war, go- ing east together. NcNally took up a course in aviation while Blan- ton went overseas. Uutil he saw an account of his .chum's tragic death, Walter had not heard of him since boarding ths army transport. McNally was one of the original crew of eight who went to Italy and brought the Roma to the United States.