davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-12-25
Mu.t Assume Risks

ouesiion-Wm you kindiy reconmend
ne two or three bonds that VII yleid
about per cert ffor Investment purposes)
Also 7 would like 90 know your opinion or
The Brazil g. and the Chile ta-f X
hnswer-Bonds yielding s per cent
cannot be considered high grade, IN our
opinion. and are suitable therefore only
FOR those In a position 20 assume the
speculative risks involved. With this
In mind We submit these three; New
Orleans, Texas & Mexico non-eumula-
tive adjustment 5s. 1885. yielding 20
maturity about 7.35 per cent 81 LOUIS
San Francisco cumulative adjustment
81. 1858, yielding 20 maturity about
RI5 per cent, and Third Avenue Rail-
way adjustment income 6s, 1850 yield
lng currently about s.SS per cent We
do not regard Chile S. and Brazil g.
as high grade. but Of the two we should
prefer the former.
New-York tribune., 1922-12-25

per year. Now, II the company abides
tv iis decision not 20 increase the az.
grernte OF cash dividends the enlarged
common stock capitalization will re-
eeive only 81 a share per year.
In has been asserted that stock divi-
6ends will lead 20 the distribution Of a
larger proportion Of earnings during
periods Of prosperity, thereby reducing
the company's ability 10 maintal N pre-
ferred dividends out Of surplus IN
times when those dividends are not
earned. This claim presupposes
lowering Of the directors standards,
change in their conception OF the rela-
tionship that should be maintained IN
times Of prosperity between the
amount earned and the amount paid IN
cash 20 the common stock.
We hold that the danger OF break
down OF any standard Of conservatism
Is not increased by the declaration OF
n stock dividend. The very fact that
company has a surplus large enough to
Justify the distribution OF additional
stock Is evidence that Il has been the
management's policy for a period OF
years 70 leave substantial surplus
after dividend payments. That. has
been the policy Of the Standard on
companies and OF many other well
managed corporations, and We do not
believe that they will abandon or mod
fly the policy as a result Of recapitali-
cation Of these eompanies' assets.
IL Il cannot be taken FOR granted
that the spirit Of conservatism will re-
main unchanged after n stock distribu-
tion. then there is no guaranty that
lowering OF the standard would not de-
velop in the absence OF a stock divi-
dend
New-York tribune., 1922-12-25
Incledn Gas Dividend,

ou.stion-As steady reader of your
column I would appreciate what informa-
tlon you could giye me IN regard % the
Lacleda Gas Light Company of So. Louis,
whose securities are listed on the NeW
York Stock Exchange. IN regard % the
common stock of the company. DIVIDENDS
were resumed In September of this year
with a payment q ii75 a share This
month an extra dividend was declared.
tho company paying $3.50 a share on The
common. is the common rated - =
stock or SO stock and 40 you regard
q A. a good business man's Investment Z
u. J.. ~.
Answor-The percentage canned on
SIC. 100000, the average amount OF
Lacledo Gas Light common stock out
standing, over the ten-year period,
i9l2-'2l, Is $40. The preferred stock
Of this company Is entitled 20 . per
cent cumulative dividends and all
earnings in excess Of such 8 per cent
arc divisible among holders OF tho
common stock exclusively. The COM
mon stock, therefore, cannot be re-
garded as paying a definite dividend
rate.
New-York tribune., 1922-12-25
Nov York Mortrare Company

ouestlon-I should appreciate any ihfor.
fnntlon you can give me regarding the New
York Mortgage Company, whorr folder n
enclosed. ] am n small Investor and do
not wish 20 speculate. although ! An
willing % assume A business mans risk
~ Do seems advisable. The proposition
sounds good. but tho method Of marketing
the stock makes me very suapiclouh-
j. g. NcM.
Answer-Although operations Of the
New York Mortgage Company have
not extended over a sufficiently long
period TO permit ultimate grading Of
It's securities, n recent statement OF
the company indicates that satisfactory
profits have resulted from a Compare
lively small amount Of business. II
sou are willing 20 assume a business
mans risk and realize the speculative
element involved, the preferred stock
Of this company may be regarded as
suitable for your purpose.
New-York tribune., 1922-12-25
Confedernted Home Abbatoirs

Question: have been solicited 70 sub
scribe 20 the stock % Chac0. the conftd-
Grated Home Ahbatoira Would you be
good enough 90 F.ye me your ADVICE IN
The matter1-F. y.
Arswer-Tho Confederatcd Home
Abattoirs Corporation does not start
its building until next spring, and we
should consider il speculative ques-
tion az 20 whether an independent
packing organization can compete with
established Western packers. The
business Is one that entails hazards,
and we should regard a stock interest
in an enterprise OF this kind as high
ly speculative.
New-York tribune., 1922-12-25
Stock Dividends Effect on Preferred

o,- connection With stock dividend e "h''A seems 70 N'''
n. country Dividend ai0H'"'"" " 'nS
s equity behind preferred Vh'rs companies hove f"'
clsca
an NOT heavily fnfied 81 Ae e'"pa"''' "AeA ho' ~
.f whsAeT 'H tAfoTv TA''
~ uH BE- likely o6et holdings Of preferred o'FAN'''-A T. a.
-Ie it be understood outset that the declaration ana
,t ~ stock dividend the slightest degree ehahse wv
% - either preferred or okholder In the case OF lVO
~ cen. stock dividend holder ten shores OF common becomes INC
owner twenty shares representing iden'eaIy tne same ~
property as existed before the dividond go
The preferred retains all its priority features which IN mos
cases consist Of preference dividends and preferences up S
sIo 15 or any other stipulated figure in the distribution OF assets
case Of qudaton think that further argument
nosd be nut forth on the question Of equity
New-York tribune., 1922-12-25
Only a Speculation

Qpestion-Pieass let ne know ~ "a.
Aell1 Ffpductt Corporation % America Il
they offer shares at a. and limit the nun.
Der ior each pgrehasor.-Aiias ~. H. D.
Answer Shares Of Radio Produets
corporation are highly speculative. A
commercial demand for radio anna
ratus has not BEEN developed 10 a point
where companies Of this kind can be
considered successful, and II you want
70 avoid worry and dIsarpointmenl .ge
advise buying only high-grade invest
ments that have proven worth. Leave
speculation alone.
New-York tribune., 1922-12-25

There Is greater room for argument
on the question as 70 whether the dis
tribution Of surplus In the form OF a
stock dividend impairs the position OF
the preferred stockholder from the
standpoint Of continuity Of cash divi-
dends. Il has been asserted by many
obse-vers that when n company having
outstanding both common and pre-
ferred stock pays n stock dividend and
reduces surplus. that company reduces
its ability 70 maintain cash dividends
on the preferred In times when earn
incs are inadequate. In spite OF the
many plausible arguments 20 the con.
trary, we maintain that the position OF
the preferred stockhOlder IS not I'M
paired. Our statement need not be
taken without the support Of reasoning
The real character OF stock diVi-
dend has been described often enough
and for our purpose we need go no
further than TO state that a distriou-
tion In stock merely gives the stock
holder additional certificates repre-
senting no greater amount Of assets
than was possessed before The new
stock was distributed. There Is no
real advantage to the stoekholder IN
less the aggregate Of cash dividends Is
increased. Similarly, thero is no inn
pairment Of the preferred stockholders
position n the cash rate on the common
Is reduced IN proportion 10 the increase
in the amount of stock outstanding.
The Standard OIL Company OF New
Jersey, for Instance, paid a stock divi-
dend Of 400 per cent. making the
amount Of stock outstanding FIVE times
what Il was before. The cash dividend
on the amount o. common outstanding
prior TO December 20 was s. share
New-York tribune., 1922-12-25
Tobaeeo Produets EIport

orr.fion-Kindly send me any infor-
nation you may have about Tobacco Prod
nets ETport Bought 200 shares 81 "a
and n has declined 90 s. Although ]
know Il Is speculative. ] thought Il was
a coed one.-A- X.
Answer-The Tobacco Products E1-
port Corporation was incorporated in
February, 1919, 70 take over the entire
exporting business Of the Tobacco
Products Corporation. A stock diyi-
dend was paid on the common January
2. 1920. No cash dividends have been
paid. The export business has suffered
from depressed business conditions and
apparently earnings OF the company do
not warrant payment Of further divi-
dends.
New-York tribune., 1922-12-25
Reward Not Great

Queftion--Wili you give ne some ad-
vice? have followed your daily advice
70 investors and have become cautious.
Five years ago I was pcrHuafed 20 pur-
chase five shares % Lambert Tire Company
stock a. 500 a aharc-91o0. have never
received any dividends, but frequently re-
ceive letters Of cheer and promises %
great financial dement's n 7 only VIII be
patient and walt. VIII you advise me as
10 the value of this stock and what !
should DO with it1--Miss J.. G.
Answer-Patienee Is your only
reward. Lambert Tire and Rubber stock
was recently quoted by dealers spe-
cializing IN unlisted stocks az 2iz bid,
offered at 3iz, Whether you should ac-
cept this price or continue patiently 20
hold the shares IN hope OF recovery
Of course. Is a question you must de-
eide for yourself.
New-York tribune., 1922-12-25
1nnnIrl.. shnnld Re sIrned

Injuries addressed 20 this depart
ment OF The Tribune are regarded as
confidential, but 20 show the writer's
good faith all should be signed and
an address should be inelosed for
reply. Letters from the following arc
heing held for Identification: +. H.,
r. p. jr., A. A. D., S. P. c., J. p. K,
VI. VI. j., II. NJ, Miss A. D., G. ]. W.
r. F. NJ, D. +. L., W. c., G. D. X,
W. W., "Investor," J. p, A. A., ". K,
J T. c.. ". A. b., ". W, J. C.,
and J. VI.
New-York tribune., 1922-12-25
Good Inresimenla

Question: will thank you 20 review
my investrnsnts and 10 suggest any
changes 20 strengthen same; 5000 Brook
iyn Bdison 70. fzoo0 New orleans a
T.ras o. $4,000 Canadian s. 1853. $1,000
we-tinr house Electric 80 5000 Public
Service % Nfw Jersey 1r. fi.ooQ Commer-
ciai cable -: 1900 Detroit Edison fs;
1900 General Electric S.. $1,000 standard
on of California 1a-U g..
AnSwor-All these bonds are good in
ycstmentS.
New-York tribune., 1922-12-25
Nebraska Power Preferred

Oue,flon--T am considerInE tho pur-
chase on Nebraska Power stock 7 per
cent preferred az '97 shave direct from
the company. DO you consider u an
attractive invesiment7-B. 7. y.
Preferred dividends have
been paid by the Nebraska Power Com
pany and its predecessors for a great
many years and a substantial surplus
earned besides. This stock may be
considered p suitable Investment FOR
an individual who will keep in touch
with the affairs Of the company and
who IS not particular about limited
marketabilitv.
New-York tribune., 1922-12-25
Should Abandon speeulatIon

Question: lady Of my acquaintance
recently asked my advice IA the follow
ing situation. couple of years nFo che
purchased 100 shares ft5 par vaige) IN
the Boone OIL Company az 1852 per
share No dlw lends were ever pald her on
this stock and az you know. lt is now
practically worthless she has TOW been
advised or a reorganization which c0ntem-
plates the forming of the Boone Con-
FCiidhtcd OF Corporation and IS given the
opportunity Of obtaining Et0ck ga this lat
ter company on the following basis. She
Is 20 turn IN her Boone OIL Company stock
With az additional Investment equal 20 2G
per cont or its par value an her case
&lz5) ana receive t.5 shares OF stock fpar
value tl) IN the Boone Consolidated on
Norinrntlon. personally am a daily
reader of your column and have prcftcd
by u. but DO not feel that am IN a rorI.
ton 10 advise In this case ana your fug-
F'ftonf VIII be very much Appreciate.
! mlgnt add that soon after receivin~
notice or thlt reinanclng she Forwarded
check Tor ~. which. ] unlerrtand. has
not been aeknowiedged~--H. H. B.
Answer-n you had come 10 us for
advice before the check had been sent
We should have advised against may.
ing subscription 70 the Boone Consoii-
Gated OIL Corporation. A losing spcc-
uiation Is being continued In tbs in
stance, and We suggest that your friend
dispose Of her holding and give I'd oil
speculation entirely.
New-York tribune., 1922-12-25

ouestions Of generoi iHtsrest 70 "a
pestors scii Be- dHswcred IN tbs COZ
ursn, IN wkiek case only initials igiH
b used. Ofksrs iCiH BE- ansrered ~
nail Address oil inquiries, fnelos-
ing q st0npsd. addressed envelope. 70
FtnaHcial Editor, The Tribune, IS1
Nessdu street, New York CITY.
New-York tribune., 1922-12-25
For Business Man

cu.s'ion-Do you consider Loft, Ino. a
stock that may BE- bought az ths present
price aa q safe inyeHtment7-F. N. IL.
Answer-We do not regard Loft, Inc,
stock as a high grade investment. We
should rank Il rather as suitable for a
business man IN a position 10 keep IN
touch with the eompany's earnings.
New-York tribune., 1922-12-25
Ranking Preferred Stocks

c...,,., weuia YOU consider the fel-
,.'-.,., r,sf.@red stocks on a par IN mas
inr selection for an inssstment OF Aigii..
crsst Northern. North Anne le.h, ~ Hi,-
deIphiA Company. and oenerAi N'P"-''
A. M ".
An,wer-ws should rank the seeuri-
ties you ask about in tho following or
der A 70 deslrabllity FOR investmenti
North American preferred, Great
Northern preferred, PhiladelPhia Coia- on.
pnny preferred and General Asphait
preferred.
Bogalusa enterprise and American. (Bogalusa, La.) 1918-19??, 1922-03-30
THE GOSSIP BOX

We promised we wouldn't reveal any names, but we
heard certain Bogalusa telling few days ago
about new plan her family has adopted which we be-
eve will be good idea for other families to emulate
She says the first of the year her family established what
they call gossip box" 1t is little tin box with slot
in the top just large enough to permit dime to be
dropped through They agreed this woman her husband
and their two children that every time they said anything
unkind about anyone else the one making the remark
would dropa dime into the box.
formerly" she says 1--WE never finished meal but
what someone came into our conversation And before
long we found that were doing good deal of gossip
ing around the table, Then started the gossip box
We've all had to drop our dimes into it at times but lately
we have learned guard our conversation and can't
say something nice about those are talking about we
just remember the box and keep silent tongue Next
Christmas we will take the proceeds of the gossip box
and give it to the church"
fine idea for if there is anything we should strive
to discourage is gossping For gosspng soon becomes
chronic and the gossper without possibly meaning any
harm sets afoa that besmGh the character a tor
with your family and if there isn't little room for
gossip box" in your home?
Bogalusa enterprise and American. (Bogalusa, La.) 1918-19??, 1922-03-30
WORLD is PERSONAL

We live in personal world 1t is full of personal
misfortune well good fortune, and both purely
relative terms
The who has just lost his ob or who has not had
his salary raised has received smaller bonus than he
expected, will tell you he is unfortunate So will the
whose rent has been raised who has sickness at home
whose beer has been declared unlawful whose inner tube
has been blown out
Human nature means each of us feel that his par
tcular msforunes the worst We know an American
farmer with comfortable home fertile acres and an
automobile, who weeps aloud that low prices have ruined
him. and gives thought to the Russian farmer who
with his children starving his own doorstep walked
five miles in search of little grain and failed to get it.
We know another man who made life miserable for
all about him because he had to wait two days in city
he was passing through to minor charge in
traffic court, and who never gave thought to the New
York merchant who spent seven years in jail (mssng the
electric chair by only seventeen inues before his
innocence established and he set free to rebuild
his broEn life, if he could.
The people to whom we tell Our troubles may be po-
lite enough to sympathze with But how would most of
the misfortune bitterly bewa look to third per-
outsider? That is the test after ALL For the
world not personal enough to pay attention to the hard
luck stories from anyone who has work enough and
health enough to win and enjoy food clothing shelter and
friends
Bogalusa enterprise and American. (Bogalusa, La.) 1918-19??, 1922-03-30
PAPER INDUSTRY SOUTH

After visit to BOgalUsa nome OF promising paper
making industry and center of region where the pracce
of forestry is under way Mr. Roger BabsOn declares EN-
phaticaly for refOrestatOn and development OF pup anu
paper making South He would have our cutover anaS
devoted to production of pull pWOOd on scale stclent 10
supply the needs of the developing paper industry lie IS
even quoted as expressing the opinion that IN THIS deveP
ment is to be found the solution of the problem or uzg
the South's idle acres.
Mr. BabsOn's enthusiasm is beautiful to see. HIS repu
tation practical hardheaded business expert renders
it impressive Our own forestry enthusiasts advocating
the same development in and out of season. have been
looked upon as Missionaries" by too many hard-headed
and practical men of business Even here IN LOUISIANA
where the feasibility of refOrestaon has been demon
srated by practical test the spread of the forestry gospel
among the owners of cuOver lands has been rather pain
fully slow Prophets like Mr. Hardtner of Urania and Col
Sullivan of BogalUsa who have made their faith in for
estry manifest by their work ARE not without honor in
their country Almost they have persuaded others of
large affairs and holdings go and do likewise But
forestaton scale sufficient to provide the industry
vsoned by Mr. Babson is still of the future Our cuover
areas increase with each days work of the sawmis and
the forestry projects in actual being pituy made
qUate requirements.
Mr.. Babson's statement of general interest through
out the tmberbearng South should be of special interest
to the lumber manufacturers who assemble here this week
to attend the annual meeting of the Southern Pine Asso
citation For years they have discussed in their annual
gatherings the problem of utilization of their cuover
lands Reforesation has been suggested Of the
ways to solution of that problem What Mr. Babson says
about its practical possibilities and industrial promise to-
the South should have their attention and careful consider
atOn-NeW Orleans Tmes-Picayune.
Bogalusa enterprise and American. (Bogalusa, La.) 1918-19??, 1922-03-30
TRAINING FOR HOME LIFE

Social workers complain that the modern girls bust
ness experience in stores and factose gives her train
ing for the duties of home fe which she must usually
take up later So she usually knows little about cooking
and she may not buy home supplies or manage her ere
sources economically.
Also, it is complained, the girls expect the men to
earn enough money that their wives spend as much
on personal adonment and amusements they used to
There may be some exaggeration in these statements
vet there some basis them They may account for the
failure of many young folks to money. A young
woman contemplating matrimony would benefit from
short course in domestic science and home management
Every high school ought to have of this kind
which the older girls could take in evening sessions if nee
essary Such training would help couples acquire indie
pendence.
Bogalusa enterprise and American. (Bogalusa, La.) 1918-19??, 1922-03-30
JIMS RELIGION

Following in the footsteps of Billy Sunday and other
athletes jim Jeffres at time champion and later the
worlds white hope, will again enter the ring in the
biggest scrap of his life.
jim is going to take the devil in finish match
He has bit off big undertaking but the fact that his de-
csion has been developing for dozen years shows that
he is sincere He doesn't need money for he is already
a millionaire
He has worked out religious philosophy that, while
not particularly Deep is true in nearly all respects He
holds that man who smoked, chewed or drank in
while won't expose him to hell fire but that going to
excess in these or in anything should be guarded against
AS outlined by himself Jims religion smacks great
deal of the evangelical type popular decade or so ago.
1t isn't difficult to believe that of in this age of
fappers and jelly beans would help the old world to a.
better place.
Bogalusa enterprise and American. (Bogalusa, La.) 1918-19??, 1922-03-30
THE DIRT-DIGGING INSTINCTS

At an early age children go out in the streets after
every rain and make mud pies The instinct that leads
them to dig in the dirt inbred in human fiber When
they get little older they take hold of school gardens
with enthusiasm They enjoy the sense of accomplishing
something When the little plants for which thew sowed
the seed come up, they feel like grownups and have
pride in doing things
People ought to retain this enjoyment through life
gbe result is left from the ball game they have and
the motor rides they had enjoyed But the flowers they
have cultivated bloom for the season and give touch
of JOY and cheer to the homestead.
Every time they greet the eye, the householder
say with pride: 81 added that work of beauty to this
home and this neghborhood" Similarly he rejoice
when he supplies succulent vegetables to his table with
out paying tribute to anyone
Bogalusa enterprise and American. (Bogalusa, La.) 1918-19??, 1922-03-30
RESPECTABILITY

There is lot of misunderstanding as to what makes
person respectable think that to be respectable all
you have to do is to be honest and don't mean just not
to stea-few do that and they outlawed or put in
jail But to be really honest takes lots of courage You
have to miss immediate You have to stay pretty
much alone, sometimes You have to learn how to mot
mind"
But responsibility has come to be quite "code" a
kind of scheme plan, form of etiquette fashion!
do not believe that you can be much of man or a
woman, if you seek to wrap up your personality-the
greatest thing a human has-in some kind of fungus
known as the proper thing"
There isony one proper thing for any man to do and
that is the right thing
achievement carved about their names While the doors
of the world the independent orger of opinion and feel
ing, at some time or other, rule the world!
Real responsibility is being so honest with yourself
that you couldn't be dishonest with anybody if YOU tried
AIso to be honest respectable, you have to be quite
unhappy because quite misunderstood But not for long
there is always modern Diogenes hunting for YOU
Bogalusa enterprise and American. (Bogalusa, La.) 1918-19??, 1922-03-30
THE POPULAR PAsTEBoARDs

Dealers in playing cards say they sold many of
the in 1921 than usual Some attribute this to prohi-
bton mad say that many who used to frequent sa-
looms playing cards in their homes and clubs.
Also unemployment in many places left people with idle
time which they used in this way.
Card playing rightly used, sharpens the wits and
gives relief from the tedium or strain of work. Many
people, however, idle away too much time at it. When
they it merely to kill time and help drag the weary
hours along it is sign that they have lost something of
desire for self Improvement The ambitious man who is
out of work will spend the greater part of his time in try
ing to fit himself for better service and the merry paste
boards will be only Incidental and occasional diversion