davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-05-22
Investment Information

0"est'ons Of general interest to in
veesors ~'it De ons,uered in th,. coll
I''"' IN which case only initials ,U;lt
oe Used. Others ptH Do ans,cered bn
moit' Address all inquiries, ,nclo..
1re stamped, addressed enuelone n
'nanotol Editor, The Tribune, ,6I
Nassau Street, New York Citv.
New-York tribune., 1922-05-22
lnterborough Reorganization Plan

Q"Ss'onl holder eolnroi
~ "a per cent bonds uch
P0 ne plans Of reodjusmen
| ough-Metr tropoitan
e collateral bondtoM
New-York tribune., 1922-05-22
Picks Speculative Securities


Ohio convertible 4,7s 1898; Chicago. Mi
wauhee 4 St. Paul convertible 4i,s 1879
Eh!caEo & Eastern Illinois general IS
l9ol Erie general %s. 1895: Fr'e Converti-
bic II is. 1895, Baltimore & Ohio common
H. B.
Answer-The Baltimore & Ohio con-
vertible AIS and the Chicago & East
ern Illinois general IS are investments
suitable for a business man. but the
other bonds contain too great an e}e-
ment of risk to be so rated They are
the type of bond which every one has
IN mind when speaking of speculation
in the bond market. The St Paul sys-
tenn has not established the proper
balance between income and expendi-
lures. 1t is geared up to handle a
larger volume Of traffic than we can
see in prospect under conditions which
make the ST. Paul compete with two
powerful transcontinental systems. The
Erie made ends meet last year, but
only through profits from its non-op-
Grating properties. In buying Balti-
more & Ohio common you are speculat-
ing on the prospect of dividend being
paid Probably you have in mind the
rumor that the company will make an
effort to put this stock on a dividend
paying basis to keep its bonds in the
class Of legal investments for savings
banks in New York State. We have
heard the rumor repeated often but
do not know whether there is any JUS
tifcation for it. Certainly the Balti-
more E. Ohio does not appear to be
earning enough to spare funds for a
common dividend.
New-York tribune., 1922-05-22
Has Old katy" Stock

Ouestion--I have some old M. K. & r.
common stock. bought In 1914 May I ask
YOU to advise me how long hence this stock
will be sslabe on the EXCHANGE? mean.
Of course. without payment Of
ment (The last sale was May at IL J
A. r L.
Answer-If the reorganization plan
becomes operative, as we expect it will,
the old common stock will become val
ueless for trading purposes.
New-York tribune., 1922-05-22
Two Speculative Stocks

snsSs, both ak n. HU to ssf Fe
1roleun Ltd (selline about *23l, and
pany selling at So stocks? understand
the latter company Is now IN receivers
Is 20 be m sho4y ana tn that ,h
company has good future prospects VIII
you kindly let me have your opinion on
both stocks, which would be much appr--
Answer - The international Petro-
leum Company, Ltd (ncw company,
was organized in Canada August Ii,
1920 to consolidate business and prop
critics Of the International Petroleum
Company, Ltd. cold company. and
Tropical Oh Company. The former
company had outstanding 100 900
shares of preference stock, par 81. and
2,608,so2 shares of common, par sl
Each preference shareholder received
one preference share, s5 par value, and
a common share, no par value, for
each preference share held, while each
common shareholder received two COM
NOR shares for each held. An ex-
change of stock was made with Trop-
cal stockholders also, the exchange
taking place September 80, 1920. An
was paid on the new stock, and sec
paid January 8. 1922. The stock is
speculative, in our opinion, and insult
able except for those who can afford
to assume the risks involved. The Ten
nessee Railway. Light and Power Com
pany was incorporated as holding
company on April %, 1912, under the
laws of Maine. The company controls
properties situated principally in Ten
nessee. Receivers were appointed for
the Chattanooga Railway and Light
Company, one of the subsidiaries, in
1919. No dividends have been paid on
the preferred stock since 1914. Inter
est charges have rarely been earned
by margin greater than ! u, and
earnings on the preferred stock have
been consistently less than per cent
annually since 1914. Earnings have
shown q tendency to improve recently,
however. The common stock is specu-
lative
New-York tribune., 1922-05-22

Answer-The soft spots in this in
vcstment are remarkably few for list
so thoroughly diversified. As GEN
eral comment we would say that YOU
hold too many small lots of stock. a
feature which gives too great a bur-
den Of care to an investment of this
size. The Mecca Oil stock is a doubt
fll asset, even as gift. At an auc-
ton sale two years ago a block of this
stock sold at the rate of Is cents
share, but there are no records of
subsequent sale. There is nothing for
YOU to do with this issue but hold it
and hope that something will turn up
You know the situation in Columbia
Graph hophonc and must appreciate that
the stock is speculation. However,
We see no reason, in view of the fact
that your investment gives you more
income than you need, why you should
not hold these few shares of stock on
the possibility of recovery. The Cleve-
land Electric Illuminating preferred,
about which you ask specifically, is a
good investment for you to hold. The
Public Service Corporation certificates
are also good enough to hold, we be-
lieve. There is scarcely any need for
comment on your other bonds. How
ever, we think this would be q good
time to attend to the permanent invest
ment of the funds you have in the
Utah & Northern first 5s (due 1926
and not 1929. They are an inactive
issue, for which about 98i2 is bid at
the present time
New-York tribune., 1922-05-22
Authorizations In Bond List

Ouestion-1 notice In your bond table
there Will be "sl0f" or "ssf" Nhat do.s
II mean? What do the word. sale" and
nay mean in connection with bond
quotat ton C. W Z
New-York tribune., 1922-05-22
Too Many Small Lots

1lUestion-WouI4 YOU reror,n,e-s ..M,.-
and would YOU klndiv e,ve ~, q 1e t.ls',o ss.ins
Q, holdings a. foiIows Ter TeuI op'h1on 1ol
and Foundry. shares A,naTto.H - ar
cultural Chemical, . sharea s. a. a !.
| Telephone and TAlngraph ,o aa,dtI . Ica 20,
lateral Rold bond - nnn" es qsht co.
peka & santa Fe pr4ferred e o16 TO-
300 bonds 1Yni,od $500 w. ~, o. 'Fo
s carryinr 1s bni,[,1a rs oI srazl, 1855
COUNTY BuildInr .ra Joau .Ud" sHafes Essex
tlonal RAILWAYS rus, roId csrtisat a"
600. s ClAvoiand Eion.+t 49, Ji!ua3e. ~
! Corapany nreferrsd ssho- 'iuIlnating
Graphorhons preferrod 8 sharss 20 ,"illo i1, ola
ada Southern ho-vear roId hnnd d,,a, ,oea
1000; IL Canada Geyn,rrI'ert' - pu. W.
ot lo-vear roid honI a. nnn - I,,!ion
Trunk Railway. due 1875 s. 600 - Sb1aa Sbsda
Conlpanv 7rnferrea Jh.ro"' - Nl1o os
quesne Light Comranv s ,lsr cr, ~ ~
bond 81 600. - a. Pei EN- solo
Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-10-03
WINNER BY ONE VOTE.

At the New Castle county Demo.
cratic primaries there was close
contest for the nomination for State
Senator in the Seventh district be-
tween DR.. Harris r. Mcdowell of
Middetown and Clifton Severson Of
near Townsend. Both men are capa-
BILE and stand we'll in the commu-
nifty. so it was not surprising the
vote was close, DR.. Mcdowell being
declared the winner by the narrow
margin of four votes.
Mr.. Severson made contest, which
was heard by the Democratic County
Committee. Saturday afternoon. The
entire vote OF the district was care
fully canvassed, and four ballots
one for Stevenson and three for Nc
Dowell-were rejected on account OF
legal disqualifcations. The result
left DR.. Mcdowell in the lead by one
vote and he was declared the nomi'
nee.
This result attests the fairness and
efficiency of our Primary Election
law. the best In all the country. i
is plain in its provisions and effec
tive in the safeguards It throws abou
primary contests.
Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-10-03
FIRE PREVENTION WEEK.

How IAN ounce of prevention is
worth pound OF cure" Is being inn
pressed upon the minds OF our citizens,
this week, by an admirable program
OF demonstration. City departments
and various civic agencies have united
In the work OF making these demon
STATIONS explicit and revealing.
Nothing could be of more conse-
quence to our people. Fire is an enemy
whenever Il gets beyond human con-
troll. Too often it is allowed 10
have it's way by reason of the care
lessness of human agencies. And In
far too many instances destructive
CONGREGATIONS occur by reason OF the
lack of measures of prevention.
1t should be the continual purpose
of all people, therefore. to guard
against fire visitations In every way
Human carelessness contributes a
great deal to fire losses. Careful at
tention to preventing measures will
result In great saving. It is hoped
our people will take advantage of the
practical instruction that will be i'm
parted to them this week.
Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-10-03
BARRATRY IN BALTIMORE.

The criminal lawyer who exercises
HIS talents in keeping offenders out of
jail by the use of improper and dis
honest methods is an unqualified dan
ger to the community. But the criminal
lawyer who exercises his talents In
preying upon the criminal classes. who
improperly enriches himself at the ex-
pense of those who are too ignorant
TO understand that they are being
cheated or who are so compromised
as to be unable to protest. is simply
an unqualified scoundrel. This second
practice is a lesser crime than the first.
and perhaps il is not so damaging to
the soeinl structure; but II Is an in
finitely meaner crime. and II Is one
that nobody cares to think of az being
practiced in Baltimore.
But that it is practiced here in n
matter perfectly we'll known II is no
secret that there are criminal lawyers
here who employ runners" to solicit
business from minor offenders, and
who brighten these Indicators into
paying fees totally disproportionate TO
the services rendered-fees frequently
greater than the maximum fine for the
offense upon which the client was
apprehended. The unholy alliance be-
tween the professional bondsmen. the
criminal lawyer and. sometimes. the
police official. is far from being UNI
known in Baltimore. s.
| 1t is the petty criminal and the
minor offender who are gulled by these
methods. and the petty criminal and
the minor offender are not people who
can ordinarily arouse much sympathy
For all that, the disgrace upon the
city which allows this commentaries
ton of justice is not one whit the less
II is a prostitution of the criminal
law no less outrageous than the pros
titution of politics by the machine boss
The profits from this sort of thinl
bear the same relation to the earning
of the legitimate criminal lawyer al
the graft of the boss bears to the sal
1 airy of an upright public official.-Bal
timore American.
Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-10-03
POOR LITTLE RICH NATION.

Secretary Hughes statement on the
Near East will do some good. Stripped
of the diplomatic coverings, the state
ment serves notice on Paris and Rome
that on the main question OF the
straits the United States will not ap-
prove a settlement which gives the
Turks strategic control of the Darda-
nelles. It is worth while to have
this officially on record, because 1t I'M
doubtedly represents the ripe judg-
ment of the American people.
Without in any way minimizing the
value of Mr.. Hughes moral interven-
ton in the Near East, it must be said
that Mr.. Hughes whole Interview is
sad commentary on the weakness Of
American foreign policy.
at was made plain in both White
House and State Department circles"
that is TO say, Mr.. Harding and Mr..
Hughes both said--that it was i'm
perative" that American ships shall
not be restricted in their movements
between the Mediterranean and Black
Seas. Also, the United States has
various rights in interests in Turkey
which It is determined" shall be re-
spected.
For these imperative" things about
which we are determined" what dc
we do? We issue a statement that we
are "gratified to observe" that the
| Allies seem about to do what we de-
sire.
VIII we help them in any way to
do them? Not beyond expressing our
these things. If and when they dc
! them, If at ALL And why can't We dc
more than be gratified at observing
Three reasons are given: First
! though the control of the straits Is
political question, we cannot parti
order to achieve the freedom of thu
straits it may be necessary to call il
the League Of Nations, and we ar
not on speaking terms with tn
League; third, to settle the question
1t may be necessary to consult Russia
and we are not on speaking term
with Russia.
With all these taboos, sacred COW
and bogy-men around, what can
poor little rich Nation of only 10
100000 people do except gratefully "of
serve" everything that other nation
do to protect the Christian minoritis
and TO insure that freedom of til
straits which 1t regards as "imper,
!. tiye?"-New York World.
Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-10-03
NATIONAL MARKETS.

We are living today in an age OF
national markets. No matter where
you are, the steak you eat for din
ner may have come from Wyoming
by way Of the Corn Belt; the bread
from wheat raised In North Dakota
the apples from Washington or
Oregon; the chair you sit on from
Michigan, the clothes you wear from
Rochester or Chicago: the lumber
In your house from the Southern
pine forests. In fact. nearly every
thing you eat. Wear. live in and
ride In Is distributed by means of
national sales organizations, ma
tional advertising and national trans
portation systems. from some center
of production to every section OF the
country.
The production OF our great ngricul.
tural aples--cotton. grain and live.
stock--is for the most part concen-
trated in certain regions In
the South, corn in tho Corn Belt
livestock In the, West and wheat In
the North Central States. But the
market for these commodities In one
'th'' VI hiibih't III lbuIiu III fNtIy
city and county In the country Las,
year more than 337 100000 bushels OF
wheat, both in it's original form ant
In the form OF -four. were distributed
from seven principal markets 4
every part Of the United States ant
abroad. or the immense corn crop
three-quarters is normally consume,
on the farms; but the hogs and cat
tie toowhich II is fed find their wa,
to the packing houses of Chicag &c
Kansas City, st. Louis and Omaha
and from there are shipped-cured
chilled. or canned--to every State Il
the Union. The livestock raised OF
the plains OF the West pass through
similar channels TO the dinner table,
of the Fastener. the Westerner an
Southerner. Farm Life.
Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-10-03
A SPECIAL SESSION.

president Harding apparently plans
70 have the last laugh at those who
criticised him for seeming lack of de-
termination TO press his ship subsidy
plan some time ago. The Executive
announced some weeks ago that con-
sideration OF the tariff and bonus
measures made it impossible TO main
tain his previously announced reso-
Lutte stand that the ship subsidy bill
must be acted upon during the present
session of the Congress. The an
nouncement was greeted with derision
by many editors; it was merely la
mented by others. But now comes
the news that the President will sum-
mon the Congress in special session 10
consider the measure.
Perhaps after all that is the wisest
plan. For while the railroad question
VIII also demand consideration dur
ing the three weeks preceding the be-
ginning of the regular session in De-
Icemoer the special meeting will give op-
portunity for a through discussion
OF the entire shipping problem before
the eXacting business of the regular
session claims the attention of the
legislators. The merchant marine
question was never more important
in our history than It is at present.
And when formal consideration is ac-
corded the subject, II should not be
qualified by the urgency of many other
important legislative matters.-alan-
chester IN. H.) Union.
Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-10-03
JUST FOLKS
By Edgar A. Guest.
LIFE GRANTS NO FAvORs.
Copyright 1922 by Edgar A. Guest

I've told il TO him day by day,
That he must always pay his way,
Must even buy his right 10 play.
We've talked it over many time,
There is no easy way TO climb,
And now I'm putting it in rhyme.
Would he be skillful and attain
High place in sports or work'e
domain,
Then he must practice skin to gain.
Life gives nothing ready-turned,
This is a lesson TO be learned,
Its simplest pleasures must be earned
Who would have friends from start tC
end,
Kind hearts on which he can depend,
Must do the duties Of a friend.
I've told II often 10 the boy.
When trif1ing cares and tasks annoy,
There is no idler's road 10 JOY.
Nothing, however small it be,
Can come TO us without its fee,
From toll no hand is wholly free.
Life grants no favore. AS we grow
This We shall surely come to know
Evil or good. we make II so.
Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-10-03
sCRAPPING DEFERRED.

In deciding 10 defer tho scrappins
of battleshipe TO which the United
States is obligated by the five-Power
Naval treaty until such time as the
pact shall have been ratified by
France and Italy, Secretary DENLY
has pursued course whose prudence
and propriety will not be challenged.
II In natural that his decelon should
be associated with the disturbing de-
velopments in the Near East, and
while Il Ia not imaginable that the
United States will become involved in
the current or threatening complica-
tions, the Secretary's procedure may
not improbably have been influenced
by the disquieting news from Con-
etantinople and It's vicinity. As mat
ter of fact. no really serviceable war
ship of oute TO eliminate our up-to-
date fighting units when France and
Italy shall have followed the example
by Great Britain, the United Statee
and Japan.
There is no mystery about the de-
lay which has occurred at Paris. II
will BIO remembered that the French
public was not very we'll pleased at the
way In which the naval situation waf
| handled by their representatives a
Washington Conference. With or with
| out reason, II was felt that the nation
al interests had suffered at the hands
| of Premier BRAND and his associates
| that they had incons:derately acqui
esced in the RELOCATION of their countr,
to position incompatible with ii
dignity and Importance; that they hat
made sacrifices for which they ha'
failed to exact a commemorate equiv
alent; and that they had not sue
ceeded in promoting the cordiahty O
the relations between this countr.
and the.r own. Much capital wa
made out of these complaints by for
mer Premier Brands political oppo
nents, and such were the considera
tons by which Parliament was actual
ed in its assumption Of a hostile or a
least unsympathetic, attitude towar
the five-Power Naval treaty.
That it's eventual ratification is az
sured has frequently been reporte
and need not be questioned, but
was not expected that the commissio
to which it was referred would TAX
action in the matter until some da
next month, and there is no tellin
how much time will elapse before II
final vote shall have been cast. In tt
meanwhile, the Italians are evident
waiting for their French friends
give them lead. 1t was stated month
) ago that the ratification OF the trea,
I was a foregone conclusion, but obv
ously that conclusion will not |
: reached until definite news OF a r,
= assuring character shall have be<
received from Paris. Philadelphia Il
quirer.
Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-10-03
MIRROR OF PUBLIC OPINION

not conform to the conditions laid
down in the deed OF gift. The trustees,
who are Canadians representing the
donors OF the cup. rest their objection
TO the Mayfiower on the ground that
her carrying capacity Ia much less
than that Of tho Nova Scotia types.
I'VE have authentic Information from
competent authority" they say In a
telegram to the Chairman OF the
American Race Committee. that
other vessels In your fleet OF less
waterllne length have greater carry
ing capacity" The Mayflower was
the creation OF Massachusetts, de-
signer OF yachts. and the Canadians
believe that she was built as much To
win the Halifax trophy Az to f,ch on
the Grand Banks. She has met the
qualification OF catching and carrying
FISH, but at the came time she has
racing lines not seen before I'm the
deep-sea fishing industry. The May
flower Is a fresh fisherman" she
was not constructed to transport FISH
ner. the Bluenose, was.
II might nave Deen maRn8nl
for the trustees to accept the entry OF
the Mayflower. but they had duty
to perform. The international trophy
was founded to encourage the build
ing OF "the best possible type o'
craft" for deep-sea fishing, through
"a spirit Of friendly competition" be.
tween American and Canadian fisher.
men. The donors had In view, t.
quote from the deed OF gift, "the de-
velopment OF the most practical ant
servlceable type of fishing schooner
combined with the best shilling quail
ties, without sacrificing utility" 1t Il
the judgment of the trustees that tn,
Mayflower is not such a craft, ant
they had heard what Designer Bur
| CESS had to say in her favor.
The Canadians will soon hold thei
elimination trials. There are five en-
tries. including the Bluenose. Unit
the American Race Committee hold
it's meeting at the end OF the week /
cannot be positively known whethe
| American schooners will compete 10
the trophy in October.-New Yor
| Times
Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-10-03
HEARD ACROSS THE SEA.

A concert held at a, radio broad
casting station at Newark. N. j., 10
Gated at the Bamberger department
store, Sunday afternoon, was distinct
ly heard by an audience in the famous
Selfridge department store in Lon
don. Despite Interruptions from the
wireless apparatus of ships on the
water, this concert was intelligibly
carried over the more than three
thousand miles Of ocean. An address
by Sir Thomas Upton, however, was
Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-10-03
RIPPLING RHYMES.
Dy Walt Mason.
SPECULATION.

Sometimes / murmur and re-
pine, and all my life seems sad
and sour, for every time I buy a
mine 1t fizzles out in half an
hour. Oh, some grow rich by
digging gold or tin or pewter
from the earth, and all the
stocks and shares they hold are
things of an increasing worth.
But when 1 buy up mining
shares production in a minute
stops; the mine has joined the
other snares, the bottom from
the venture drops. All round
me wealthy men reside, they
made their bundles out of Oil; in
pomp and panoply they ride,
they needn't buckle down to
toll. I've heard them as they
talked and chaffed, their for
tunes never know a hitch; it
seems to be an easy graft TO
deal in oil and so get rich. But
when that sort OF thing I'd try,
and buy we'll with hard-earned
yen, in half a day that well
goes dry. and l am busted once
again. Some grievous lessons
1 have learned, but not for long
a lesson sticks; throughout my
pilgrimage I've yearned to
blow myself for gilded bricks.
Some day, think, brick will
prove to be of pure and yellow
gold; as down the poorhouse
road l move. this fatuous belief
l hold. Some day my wells viii
turn out grease, and I'll have
diamonds on my hat; some day
my swans will all be geese, my
goat will be a Maltese cat.