davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-09-04
Disappointed In Bolivia 8s

Question: had subscribed to the Re
public of Bolivia per cent bonds $101
and paid $1,000 at quoted price. Now
see they came down to o7% and as ]
can't afford to Risk q worked too hard for
my money! I will appreciate very much
the following information: Why did they
come down? Is there any serious reason
for it? Shall I keep it,2 ! own four
moro bonds at $1,000 purchased upon your
advice. What do you think OF Empire
G. and T. IN per cent "a. z.
Answer-The decline in Bolivian IS
is due principally to the slowing up
of demand for foreign bonds, especially
those Of South American countries, we
believe. There is no serious defect in
the Bolivian IS that did not exist when
you purchased the bond, and the fact
that they sold above par was probably
due to investment demand at time
when the offering syndicate was sup
porting the market. The bond cannot
be regarded as high grade, but is suit
able for business man in position
to assume the risks involved.
New-York tribune., 1922-09-04
No Reason for Chanee

Question--We have the following stocks
and bonds and would very much appreciate
having , you criticize any you do not con-
live on salary. but do not care to take 81
long chance. II you would suggest any
change 1t would be received with thanks
The list: I. r. r. SIS. b. & o. SIS. Southern
Railway 5s, Erie As. United States Steel 5s
stocks, Lelligh Valley. New York Central.
A.. I. e St Fe preferred, United states
Steel Kennecott Copper Is it true New
York Central and Baltimore & Ohio stock
and bonds are long ways from the rails?
E. A. X.
Answer---We see no reason for dis
tlrbing any of your securities. Your
Kennecott Copper stock contains an
element Of speculation and is not re-
ceiving q dividend, but we infer from
your letter that you are able and will
ing to retain this security until it has
been restored to dividend paying
basis: All railroad stocks are "a good
way from the rails" as you put il, and
the bonds of every company are at
varying distances from the rails, SO
that no general statement can be made
about the New York Central and Balti-
more & Ohio issues.
New-York tribune., 1922-09-04
Bought for Speculation .

Question-A short while ago I was per-
suaded to purchase small block OF Allan
tic Gulf & West Indies, selling at that
time around s39 share. at which price
I made my purchase. Since that time this
stock has deprecated and Is at the present
II is too late to lock the stable after the
horse is gone, but will yon kindly advise
| me to whether 1t Is best to take my
present loss and buy moro substantial
stock hold this in the hope that 1t will
come back" f--P. G.. O.
Answer-The question of taking q
loss or holding security In expecta-
tion Of recovery is one that cannot be
answered definitely except in the light
of your ability to carry along an un-
profitable security. We assume that
when you bought Atlantic, Gulf and
West Indies stock your motive was to
obtain some appreciation of principal
rather than investing permanently
This stock is highly speculative, but
inasmuch as the decline has been due
in a great measure to the improbable
condition of the shipping industry it is
fair to assume that there are prospects
Of recovery when shipping has become
| more profitable. However, this COM
pany branched' out into the oil pro-
ducing business, and from the very
nature of the field In which Its prop
critics are located there is, and probably
will continue to be, substantial ele-
ment of speculation in the stock even
after the company's ships show better
| returns
New-York tribune., 1922-09-04
Safety First Consideration

:, Question: am an unmarried woman.
thirty eight years old. wholly dependent
on my own earning power. During the
laat twenty years have been able 10 ac-
ccumulate $500, which ] have invested on
the advice of a bond house. as follows
Toledo Edison Is. 1871; du Pont de Nemours
rs, 1891 Portland Railway Light and
Power 7As, 1914; Goodyear Ss 1881; Cuban
Telephone 7Rs, 1871; French Republic
7lss, 1911; Republic of Uruguay 8s 1876
and Paris Lyons Med. Gs. 1857. | would
appreciate very much your advice as to
whether these. In your opinion. are worth
holding, or which IL any to sell in order
10 replace with others of more suitable
nature, soundness OF principal being the
nrst consideration, then income and saia-
bility. / am, of course, desrous of OBJ
tanning as large a yield as possible con.
slstent with safety, 1t helps out very
much with my weekly salary,-E. w.
Answer-We appreciate your desire
to get as high an income as possible,
but cannot overlook the necessity for
surrounding your funds with the re-
quired degree Of safety for person in
your circumstances. Accordingly we
suggest the exchange of Goodyear ss
for Canadian Northern Is, 1910, yield
ing about 5.8 per cent, and the Uruguay
IS for Kingdom Of Denmark SIS, 1912,
selling recently to yield about per
cent. Your other bonds, although. not
OF first grade, are reasonably sound.
New-York tribune., 1922-09-04
Grand Rapids Railway 6s

Question--Can you give me any infor-
nation concerning the bonds OF the Grand
Rapids Railway Company which | am
told are due in 1924 and can be bought
at 9s or 95. ] understand they are pay
ing good interest rate and am anxious
to know IL they are OF sufficient strength
to class them as a safe Investment
c.. W. III.
Answer-The Grand Rapids Railway
Company bonds TO which you refer are
the first mortgage 6s. They are due in
less than two years and at the prices
you quote give yield of about 94 per
cent in maturity. This company's fran
chise to operate street railways in
Grand Rapids, Mich, expired in April,
1921, and negotiations have been under
way to arrange for a scheme of opera
tions in the future. Meantime the
company is going along on a 6-cent
fare. The bonds are selling on such a
high-yield basis for the reason that
the company failed to earn its fixed
charges in 1921, 1920 and 1919. We
hold that, these bonds contain an ele-
ment of risk that renders them suit
able only for business man or any
one else who can afford to assume such
risk,
New-York tribune., 1922-09-04

Questionable listed estate not
limited in his egal the life Of
lady considerably seemed
h Of the
fouoming
Nec 7a
convertible
Series 1885, Colorado Industrial convertible geld bonds 1884,
Chicago Mwdnkce
Railroad
oo47; Bem Telephone Telegraph gold
N York Telephone Company York Edison Company 6
Southern California Edison Company 1919, 1944
The able
pth securities
financial the daily HI. c..
AnswerAfer assuring why any changes
tns it be not of place few words
advsabity of placing funds in short term securities.
Where funds to be needed short notice definite
there securities this
support bonds that investors ordinarily would
for investments of Under ordinary conditions
short bonds provide attractive YIELD but the
Of months
short term and yields the demand good
short
bonds below that securities of longer
Short term bonds have the advantage Of the definite
time of the principal
Frequently prospective home builders necessity
keeping their at work until they ready
OF their homes favor securities Of short Business
short they substantial be
needed for business purposes for several months.
New-York tribune., 1922-09-04
Ohio Bell Telephone Stock

Question---As regular reaecr OF your
paper. take the liberty to ask you what
you think of the new Issue Of the Ohio
Bell Telephone Co Z per cent cumulative
preferred stock as safe Investment. price
1927, to yield 675. Would take about
twenty shares. Also. what thsre Ia behind
Westinghouse s. & NJ. selling about 6b,
and il 1t is safe Investment at That
price. with possible advancement Kindly
let me know the difference between the
common and preferred stock and the date
OF payment of dividend I'll w.
Answer Ohio Bell Telephone pre-
fersed is suitable for investment pur-
poses, So is Westinghouse Electric
common, which has a pag value of $50
d share and sells around $65, paying
S4 annually. This company was in
corporated in Pennsylvania In 1879 to
manufacture and sell machinery and
appliances for the generation, trans
mission and utilization Of electricity
The company owns extensive plants In
several parts of the country as we'll as
many domestic and foreign companies.
Dividends on the preferred are cumula-
tive ut the rate Of Z per cent annually,
payable January 15.. etc, TO stockhoid-
ers Of December so, etc.
New-York tribune., 1922-09-04
/. Mr.. M. gs Decline

Question:. Among my bond holdings !
have one $1,000 bond OF tbs international
Mercantile Marine per cent which has
been slowly declining In price. Hayo tried
70 get some information for tie cause OF
this decline, but those OF whom In
CURED were at loss and could not explain.
DO you advise my holding saina. or would
you adyisc switching 1t into something
else IL 80, what would you recommend
Ill. M.
Answer--We see nothing in the mar
.ket action Of Mercantile Marine SIS to
cause uneasiness. These bonds en-
joyed remarkable advance in the
spring and at their present price are
only about four points under the high
est level of this year. Note that they
are also twenty points above the record
low point of December, 1920. The re-
action you speak of has been technical
to great extent--a natural reaction
from a too swift recovery. II is true,
however, that the outlook for the ship
ping industry is not so bright as some
months ago
New-York tribune., 1922-09-04
New Bearing Device
Nav Reduce Costs
OF Railway Travel
Roller Tests in Britain
Said to Indicate Gun
i'm Expenses and Lend
TO Comfort of Passengeu

LONDON, Aug. % tBy Mail ).-Arer
roller-baering for railway coaches hss
just passed its preliminary trials an
the Great Easter Railway. accordirs
to "The Daily News" and win 4
bought into general use. make raiIwav
travelling cheaper and more con.
Portable.
Experimental trials carried OUT or
dead level track of line near Loadon
have been completely satisfactory, end
experiments will be conducted soon
under actual running conditions. If
these are satisfactory the whole Of tins
companys new rolling stock will bs
equipped with the roller-bearing.
1t was proved by the tests that
whereas 1t requires seven men 10 push
twenty-seven ton coach, one nsn
can easily push a coach of thu saus
weight if it is fitted with ths rev
roller-bearing.
This means that the new tsssirg
would effect an immense sartnx N
fuei, and also in the wear and tear Il
locomotives and the permanent way.
the savfnb in fuel alone will, Ia tie
opinion Of Great Eastern Railway Il.
ficials, be at least 25 to 80 per tsnt
An idea of what this means can be
obtained from the fact thas ever
week the Great Eastern RslIway barn
over $4,000 tons Of coal, costing az.
nually $4,000.
1t will also mean much smoother
running, and consequently add 10 the
comfort OF travellers.
Explaining the new Yclier.hesrlss
an oBcial of the company said: iEs5
of about dozen rollers are locked 20.
gether In sort of bicycle chain END
can stand a strain of twenty-ong tons
per roller"
"A successful roiler-bearing for Eas
way use has long been the dream q
railway engineers" said Sir Henri
Thornton, the general manager Of ne
G. E. r., to "The London Evening
News" yesterday,
'The difficulty has always been thsf
no metal capable of standing ths
heavy strain has been available. IAs
new bearing has been rendered post
BILE By the great improvements rnass
in the manufacture OF steel since lss
war. Hitherto the rollers have qsiSekly
worn snd become conical. In the pres
ent case this difficulty, has bess ever
come by the use of particularly hare
but not brittle steel"
New-York tribune., 1922-09-04
British Judge Spends
Vacation ssRougIning IT,
Drives Own Horee. Cleans
Boots and Cooks All His
Own Meals

LONDON, Aug. 20 tBy Maill.Mg;.
Justice Eve, senior Chansery judge AIia
a lifelong caravaner. is spending tas
days of lcng vacation in pafgf
somewhere on the Upper Thnatsk'
among the oxfordshirc meadows, afs
cording to ''9kc Daily MAIL
The judge, who la q Devon msn psTR
and bred, took out his first caraeha -
1881. His present wSn was beils esps
cially light for the steep hilia os sas
West Country, and he trsyeis at q fsss
Of from four to five nailes an hour
Mr.. Justice Eve drives his cwn hsFss,
cook his own meals and cleans ais eNs
boots while, ON tour. The principal fes
quircments in garayanning, he des'sses'
are unfailing optimism and some kfovt
edge Of cooking.
Il usually" be said ora one orrasiSnE
"turn in about 0 o'clock and ain ops
again at s, when the pure and srsss
noorland air is best enjoyed. lsSAs
the fire and prepare my meals s'ia
can appreciate the moore to my hfasi
content"
When, in has holiday ;agnts ths
3udgf transfers from caravan TO barge
he bitches HIS caravan horse to his
barge and progresses at tae sasna 1s.s.
lrely pace along strefchss ef saf
Thames
New-York tribune., 1922-09-04
Suitable for Business Man

Question: would like very much your
opinion on the following securities most
of which have been purchased within the
last two years as for safety and as In
vestments, Any comments would be ap-
preciated: e. !. du Pont de Nemours 7Iss
l93l city Marseiles 6s. 1894, San Pauio
State IS, 1886: International Paper pre-
ferred. stamped: United Fruit, American
Ia France Fire Engine Co, Inc. common.
International Marine preferred Genera /
Motors SIS preferred. American Steel
Foundres preferred Associated Dry
Goods Corporation first preferred. Ameri-
can Can Company preferred, Famous Play
ers preferred, Allis Chalmers Manufac-
turing Go. preferred and Pure Oil Co. pre-
ferred--M b. u.
Answer We regard e. I. du Pont
7has as a good Investment and YOUR
other two bonds as reasonably sound.
United Fruit, American Can preferred,
American Steel Foundries preferred
General Motors preferred and Allis
Chalmers preferred rank we'll as in
vestment stocks and all the Others.
although containing some element of
risk, are suitable for business man
who il in a position to keep closely
posted on developments affecting earn
ing power.
New-York tribune., 1922-09-04
Needs Marketable Bond

Question: am n college student and
have about $500 which l would like to
invest with tho expectation of using the
funds about three or four years hence.
Could you recommend some bond or SINH
lar investment from which ! could real
lie an income of about per cent, and at
the same time have substantial security
of principai2 At present I own $500 of
National Acme Manufacturing Company
71as 1881. which are selling on the Curb
at about 97A. VIII you please advise IF
you consider this good investment for
one IN my position, and II not. could you
suggest something better? / expect to
use the money now represented by the
National Acms to pay my college ex-
penses about two years hence?-,-J. l.. Nc.
Answer-What you require is a
short-term bond that is likely at least
to be calable around it's present price
when the time comes for you to sell.
We suggest Kennecott Copper rs, 1880,
selling recently to yield about So per
cent. We consider National Acme 7hs
suitable for person in your position.
New-York tribune., 1922-09-04

Another active source Of demand for
short term bonds is banks which have
at the present time surplus of funds.
Just now the demand for short term
bonds is greater than the market sup
ply, and it is not infrequent that
short term securities sell on lower
yield basis than do those of longer
term.
For instance, the American Tele-
phone and Telegraph Company's bonds
Of nearby maturities give a lower yield
than those of later dates. Anaconda
Copper rs, 1929, callable at 103h, are
selling to yield about 6M per cent,
and S75o,000 annually are drawn for
redemption. Swift g. Co. Is. 1925, are
New-York tribune., 1922-09-04
Great Westerns Outlook

ouestion--Being the owner of 100 rhares
OF Chicago Great Western preferred, would
you be so kind to advise me ss TO
what l should do? During the great sc-
tiyity in the rails this stock is dormant
what can the reason bs for this? Shall
hold on to 1t or sell II at the market
priceY--E p.
Answer-The Chicago Great Western
has been unable so far TO make much
Roadway in reducing expenses, and
consequently increased gross earnings
have been of little benefit to stock
holders. The road has made increased
expenditures for betterments. more
over, and this has further handicapped
the road in showing favorable sur
plus. We cannot attempt to decide
Tor you whether you should hold or
sell the stock.
New-York tribune., 1922-09-04
Bonds for Woman

Question Would greatly appreciate your
crittcistnE the following list of bonds which
| now hold. advising me Of any change vot,
deem necessary. am business woman
partially dependent upon this income,
Rarnsdau Corporation Ss. 1891; French Re.
public 7lhs, 1871; Pennsylvania. Ohio Power
=, = Light 1Sl ,Sss' 1872; 1872, Empire Gas q Fuel
Power GO. Is, 1886: Godchaux sugar Co :.
,ncs s., 1871, and Guerin Mills. Inc, Is.
Answer We regard Barnsdall SIS and
Empire Gas and Fuel 7iss ere slightly
lower in grade than bond should be
on which woman is partly dependent.
In your other securities you have as
much income as an investment can rea-
sonaDly be expected to bring under
present conditions. Your position
would be strengthened materially Nv
exchanging these two bonds for good
preferred stock, such as New PORK
Telephone 8 " par cent preferred.
New-York tribune., 1922-09-04

Question: would greatly appreciate
your advice on the following. I am
n widow. depending my son, who is
twenty years old, for my support. His sal
ary Is S2,i00 a year We have at present
$500 in savings hank, 800 In Liberty
bonds and one $500 Portland Railway,
Light and Power Company, 1886. Would
you consider this bond a safe investment
for people OF our means? ] would Just as
soon receive a lower Yield and be Satisfied.
Mrs. A, b.
Answer--We see no reason for dis
turbing your investment in Portland
Railway, Light and Power IN per cent
bonds unless you wish non-callable
bond. The Portland bond is callable
after 1881 at l05.
New-York tribune., 1922-09-04
selling on about the same basis. Both

selling on about the same basis. Both
are good short term notes.
AS for the bonds you list, there are
only three that do not measure up to
the level of high grade securities, in
our opinion. These are Shawinigan
71ss, 1926; Colorado Industrial 5s,
1884, and the Puget Sound 4s, 1949
We see no reason why you should not
continue to hold these bonds, but they
are the ones which need watching
The Kennecott Copper rs are callable
at LOT, and it seems reasonable to sup
pose that if money rates continue
lower this company will avail itself
of its privilege to redeem the bonds
before maturity.
New-York tribune., 1922-09-04
Investment for Widow

Question--A widow has asked my advice
rs to the investment of $4,000 She at
present holds certain Industrial stocks and
now wishes to purchase gilt-edge bonds
welding ~ per cent or slightly over. se-
curity being essential. she Is a resident OF
New Yofk--D. y. D.
Answer-We suggest for this invest
nient $4,000 of each of the following
bond issues: United States Rubber SIS,
1e47, yielding about 81 per cent; Cana
dian Northern rs, 1910, yielding about
5.S per cent; Pacific Gas & Electric
5s, 1912, yielding about 5.5 per cent;
New York Edison 6las, 1941, yielding
about Sd per cent; Pennsylvania Rail
road Gas, 1896, yielding about 5.5 per
cent; st. Louis-San Francisco prior lien
51as, 1912, yielding about So per cent.
These are not what we term gilt-edge
bonds, for that class is selling on a
yield basis close to "a per cent. We
consider them good investments.
New-York tribune., 1922-09-04
Dependent on Income

Questton--Will you please give me some
information concerning the following In
vestments; I live on an invested income
which try to increase little each year,
or at least not let 1t decrease. The list:
Kansas City, Fort Scott &c Memphis as,
1895; Northern New Jersey Street Railway
Company a., 194Si ten shares National Bis
cult preferred, bought at 115A Would
you advise switching from these to some
thing that would yield higher rate?
l also have Celluloid Company common.
I bought nlne of these at 131h in 1914 and
two at 100 in 1921 by taking up rights.
Issued & preferred stock, this virtually
making my investment second mortgage.
Originally they paid per cent. with a
yearly extra dividend of 2 per cent. This
year they reduced the dividend to 6 per
cent and thus far without extra dividend.
The stock has been decreasing in value
ever since. 1t was quoted recently att 80
bid among miscellaneous stocks.--F. M. J..
Answer-We do not recommend the
exchange Of either Of your bonds for
anything giving higher yield, for we
believe that these bonds already are
far enough removed from first grade.
Although we hold that it is difficult to
find anything better seasoned than Ma
tional Biscuit preferred, we believe you
would find the required element Of
safety and somewhat higher return
by exchanging this stock for New York
Telephone 6M per cent preferred, SELL
ing recently around 10. We cannot
make any definite recommendation on
your Celluloid common stock In de-
clining it has simply readjusted itself
to the lower dividend rate which fol-
lowed as a natural consequence to the
creation of an issue of preferred stock,
New-York tribune., 1922-09-04
Julius Kayser Common

Question--Please give me the following
Information: Is the Kayser company stock,
now selling around As, OF the no par value
Is Otis Steel Company reliable as to
stocks and bonds7 What Is the par value
Ing around ss and market per cent -
d. c, II.
Answer-Julius Kayser common, sell
ing around 45 a share, has no par
value. 1t is suitable for a business
man in a position to assume the risks
involved. Otis Steel 8s, 1941, are suit
able for business man. The stock is
speculative. The par value Of Detroit
United Railway capital stock is 500 a
share.
New-York tribune., 1922-09-04
Copper Stock as Speculation

Question---why, in your opinion. does not
Seneca Copper advance along with other
copper securities? What copper would you
suggest an o speculation 7-E G.
Answer-It is our opinion that Seneca
Copper is still suffering from the
manipulation to which it was subjected
early this year. 1t will be difficult tn
attract public following to the stock
until time has wiped out recollection of
the deal that was revealed when the
operators had a disagreement. AS for
your general question, we beg to re-
mind you that it is entirely outside the
province of this column to give advice
on. speculation
New-York tribune., 1922-09-04
Indiana Pine Line

Question: have had the Indiana Pine
Line stock recommended TO me as a busi-
ness mans investment I have $4,000 to
Invest, but before placing my order would
like to have your opilion of tho stock If
you do not think thd stock good Will you
kindly tell me why Pr. II.
Answer-Indiana Pipe Line capital
stock is paying dividends at the rate
of per cent and may be considered a
suitable investment for a business man.
New-York tribune., 1922-09-04
Not High Grade BOND

Question: havs read with grea. deal
ticles of information and advice with re-
CARDS to stocks and bonds Will YOU
kindly state your opinion of Colorado In
anteed principal and interest by Colorado
Fuei and Iron Company fs this safe,
conservative investment?-F. A. J.
Answer-Colorado Industrial IS do
not rank as high-grade, conservative
investment, but they are suitable for
any one who can assume slight risk
ana who is in position to keep closely
posted on Developments in the COM
pany
New-York tribune., 1922-09-04
Answer-All the bonds on your list
Needa Higher Grade

Question: am q mechanic ca years old
ana have $1,000 IN the bank. ! am ad-
vised to buy bond of Detroit City Gas
6s. Would you advise to invest in
1t Nv. N.
Answer--For a man in your position
we do not think Detroit City Gas SIS
are sufficiently high grade. We sug-
gest instead Public Service of New
Jersey IS, 1861, selling recently at a
price to yield about SO per cent, or
Kingdom of the Netherlands IS, 1912,
yielding about 6.1 per cent.
New-York tribune., 1922-09-04

Questions Of general isseyest to IN
ccstors seill be dpsseered ia this coI-
tttaa, in sehich case only iaiitiuis teill
be used. Others ,uili be answered by
er,aii. address all Inquiries, iucIos-
ing u stamped. addressed cnpeiope, to
Fananciui Editor. The Tribune. 15S
Nassca Street, Nosu York City.