davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-03-05
Wants Safe Speculation

,Sueslion-l am desirous of buy;,s q few
s"sres cnch Of two or three stocks which
nave investment Qualities as we'll as mar
i, kse poSsibti btiities--something which has
pscn paying dividends throughout the dc
pressien pnriod. notice n This rribuns
ieFrco Natisnal Biscuit preferred and
american Tobacco preferred, but pre
leFGed stocks. as q rule do rot Nut.Iais
snucn, 90 thay2 Please inent!on a few
SAFE stocks that would meko an invcst
mont ss woll as speculation,A and alsN q
sooo, safo pond that viii pay about 6 or
ger cent How abuut United states Stce,
aIons ss SEINE one has mentioned this as
oeing a good speculative issuo-C E C.
Answer-Yo letter is contradictory
You ask for an investment and then
say you do not want preferred stocks
because they do not f1uctuate. In other
words, what YOU want to do is to
speculate, and that you will have to
do on your own knowledge. Can't yo,
understand that when you ask for a
safe stock that means one which does
not huctuate? 1t means stock, either
preferred or common, on which the
dividends arc so we'll secured bv the
record of earning power of the company
that the chance of the dividends being
lowered is slight. If that is true the
price of the stock does not fuctuate
widely in the market. Z. S. Steel COM
mon was few years ago highly
speculative stock, but wise and CON
servative management has built up
a tremendous equity behind the stock.
New-York tribune., 1922-03-05
Standard Oil Bonds Good

2uestion~-Will You be kind eaouah 10
~ ei, me whether you consider the STANDARD
Cit fs, 1891 d prime security and 4 good
INVESTMENT FOR q man Of moderate nlesns9
May L also ask what you think Of the
SupNc Service Corporation OF New, Tersey
per cent preferred stock, now beina sold
o'rect 10 customers on basis Of monthly
payments? ] am particularly interested to
know IL this stock enjoys ready. market
as ] want to hold only securities thar 20 N
oe turned into cash inlmediately At rres
ent hold f. few Liberty bonds Standard
Cil Of California rs, 1891, and New Yorlc
Telephone 6s, la41. and have about 81 00O
20 invest In prime securities. Shall touch
me Public Service Corporation Of New
Jersey preferred stock cr put the money
INTO oonds? If bonds, will you suggest the
oonds?-I Y. u.
Answer--Standard OIL OF California
rs, 1881, are high grade investment.
IN our opinion, and the same NAV be
SAID of New York Telephone 6s, due
l9el. Public Service Corporation pre-
ferred stock is good investment for
business man who is able to keen i'm
touch with the companys earnings and
OF business conditions in the TERRITORY
which the company serves. The stock
is marketable, and we think you would
make no mistake to put a part of your
surplus funds into it. For the remain
der we suggest good non-callablc long
term bond, such as Pacific Gas and
Electric 6s 1Al1
New-York tribune., 1922-03-05
Victim of Ruskav Crash

Vuestion--I a,n one of the victims or ths
asy a. EWoyT"y Wi1, &c Compsny crash Of the other
sihould do In tho matter. At Tho t,ins . :
me fslluye hsd q LONG account, S.,tn
e,n, e,en "uich; with stocks figured at prices
quoted the day OF failure. had NET eoutt,7
OF about sA,boo None Of The stock s"u'ss " :,
IA my name, am sure THAT makes me !
pres,anfe simply an ordinary creditor. Must
n,e . claim and with whom and for
what amount? Dividenda on soma Of ,ho 'Ho
ssoens @ are about due There is also NC
.iado .iad ~ interest ON somc bonds I shall eo
- ~ my first experience should .,s~
sppTeciate any Information YOU m,V hnr =
aa,' Ss 10 possible per cent they may paw also
roy long V usually takes to wind m sue y
tailnres--C. y. g. Wy s0N'i
), Answer-We cannot undertake ~
suspense legal advice, and II onu
hitShes develop in your communicative
w''n marx Lyman, receiver for s. s.
,Haskay d Co, 81 Broadway. it. wnuid
De advisable for you to consult a com.
pctent lawyer. Meantime, we suryest
snst You write to the receiver statinr
iuliy all the relevant facts regarding
sne securities which the S. S. Rusksy
company purchased for you on margin.
ts ttNseoIo'hs 10 our understanding, YOU
pocome general creditor of the bank
rupt hrm, and before you and those
others similarly situated receive anv
snare OF the assets The claims of tho
preferred creditors must be adjusted
the celebrity with which such matters
are settled usually depends upon the
Willingness of stockholders to COOP
crate with one another and to make
CONCESSIONS. The attorney for the
bankrupt firm said, in public state
ment, that in his opinion there were
sufficient assets to assure at lcast =.
partial settlement with all the credi~
tors,
New-York tribune., 1922-03-05
Investing for a Child

Question: wish to build up fund for
my son. who is now two years old, and
should greatly appreciate your advice as
to the best procedure. / started this fund
with a $1,000 Northwestern Bell Telephone
per cent bond. and on each interest date
have added enough cash to make up the
Intending to exchange the smaller bonds
for $500 $4,000 pieces There are now
three OF these smaller bonds in the fund
out the present high price of the bond
from continuing the plan. Can you sus-
gest some other bonds maturing in about
twenty years With interest dates FEBRUARY
and August ], SO that ] can continue
est dates? Would high grade bonds OF
about the same yield. selling at a discount l.
DC preferable, or have you. perhaps. some
entirely different plan 10 suggest? l wish
TO take this opportunity OF thanking YOU
fer the investment information in vour
column. which I have followed to advan-
tage.--M. X.
Answer-You have made a mighty
good start. We would not advise ex-
changing your bond, but we suggest that
you continue the arrangement which
you have now got in force. You can
buy these Northwestern Bell Telephones
at price which yields you nearly 6h
per cent current interest. In our opin-
ion. the bonds would have to sell naucn
above the redemption price to make il
worth while for the company to call
them and issue in their place anothe er
issue of bonds. These Northwestern IN
Bell Telephone bonds are calable onlv
as whole and not in part. The alter
native to this would be to buy low
coupon rate bond on which interest
would be compounding itself as it
ncars maturity.
New-York tribune., 1922-03-05
Starting an Investment

question: havc about 5000 saved up
ana would like you to advise me whether
.,,s ~ ~"u'd o. a good idso to invest 1T ia Two
S,aaph' which are now selling for about
As It good plan TO put It all In ono
as %e and caTnns aMG ys5fa ss5 % oia leH u"S[r'e4 %
you advise me to tsllo out any life ins,Irr
s,hGe' Il 50 what Kind aud how much p
Answer in attempting to advise q
young man about his first investment
the feeling OF responsibility all but
ovelwhelms US. Ordinarily, We would
be inclined to say that American Tele-
phone and Telegraph is good invest
ment and let it 80 at that, but some
how we feel in duty bound to point
out few Of the important points TO
keep IN mind in making an invcstment.
especially in laying the foundation for
your savings. Being young and in a
positloh, where your earning capacity
VIII undoubtedly increase as time poes
on, you can afford to take some risks
tnat man past middle age could not
afford to take. At the same time we
feel it is better to start All investment
with only the highest grade securities.
waiting until the foundation is firmly
csts pllsncd before assuming greater
risks. We should think, therefore. that
you would do better to place your
available funds in bonds now-the New
ork Telephone 6s, 1871, for instance.
AS time goes on and you have more
money TO invest you could consider
preferred stocks of seasoned companies
and bonds often mentioned in The
Tribune as "business mems invest
ments," to which certain amount Of
risk IS attached, but which arc good
rs long rs business conditions are
favorable. Holding these bonds, the
owner must keen in touch with the
company's affairs and be prepared to
switch to other securities if unfavor-
able conditions develop. You must
bear IN mind, moreover, shat when you
buy stock you become partner in the
company. whereas when you buy bonds
you become a creditor, and the COM
pany contracts to pay you definite
rate OF interest for certain length
of time at the end Of which il promises
to return the principal Interest on
bonds takes precedence over disburse-
ments on stocks. Bonds. as a general
rule, therefore, are considered better
Investment mediums. You mention
life insurance. BY all means take out
an endowment policy for 81 900 at least
IN some good company. Life insurance
Is an investment
New-York tribune., 1922-03-05
Profit on Banks Funds

Question--I Iou have been So good 10
40 "a use me IN The past that am tempted
ard Telegraph stock as an investment.
Fearing the price Would iScrease and hay
money at my bank 70 complete the pur-
chase, intending to reduce tho size OF my
Situation Over @ tii.d That am iG'.1 gett1ng .
per cent or tho money have in the deal
and per cent clear on the money me
stances. why should reduce my loan. az
nay interest return is now greater than i
my friends tells me thet 7 am buying or
a margin. which always have been told
is Identical with speculation. can&ot see
il. Ain I tight or SIN Wong" IN the
quotations IN The Tribune sometimes sec
s hs ul9ses oes tss} nln
in respect to tho actual cost Of the stock
should l purchase any ?-R. c. s.
Answer--Your letter is not quite
clear Have you got sufficient cash to
pay off your note at the bank and take
up all of the American Telephone and
Telegraph Company stock that. you
bought? IF you have and if the funds
which you would use to pay of the
note are not themselves drawing inter
est, it is obvious that you should pay
the bank loan and get the full . per
cent interest instead of the 3 per cent
which you get over and above the
banks 6 per cent at present. IT, on the
other hand, to pay the bank loan it
would be necessary to sell your Amerl-
can Telephone and Telegraph Company
stock, OF part of it, your reasoning
about getting 3 per cent clear above
what you are paying is correct. This is
a purchase on margin. but it is spec
ulative only in so far as you arc taking
a chance that if the price of the stock
should drop and you have it as collat-
eral at the bank securing your note, the
bank might ask you TO put up addi'
tional collateral. Are you in such q
position that you could pay of part
Of your bank loan IL the price OF the
American Telephone and Telegraph
stock should drop? This is equivalent
of course. to putting up more collateral.
Your attitude is that OF the investor
not the speculator. CLOSING 961., bid
96i., asked 96M,' means that the last
sale of the day was made at 9614,. that
following this sale there was bid on
the Stock Exchange for another block
of stock at 96A and that a block OF
stock was offered at 96sa, but that no
sale was made
New-York tribune., 1922-03-05
Only One Change Needed

cstion-iiavns been Influenced bv
Soqr SS irdsi asty column Of advice in the matter
Dor of bonds in small pieces in these
bonds I have tried to secure reasonable
safety. marketahility in case OF urgent
need, need, diversity and current return Of
I'VE. have homo about half paid for.
balance on mortgage, $4,000; a twenty :
year year payment lifs insurance, and earnings
year. In general, + fool havs s safety. 'v but It
think perhaps reached for too high re-
turn in the Steel ana Tube bond. plan
to to sad se6o to the 500 pieces and build each
you please check this list and make sug-
gestions regarding same? Your advice viii
be GULLY appreciated. The list $1oo Unltcd
Montana Power Company IS. 1913; 500
Nirginian Railway Company ss, 1862; 800
Da n,lt nSnt Sem9any 3s is3i sloo French
Francisco Terminal IS. 1850; 800 Northern
Ohio TRACTION and Light Company 6s.
KS. 1855; $500 St. Louis & San Francisco,
Railway Company S. 1850; $500 st. Paul
&; Kansas City Short Line AIS, 1871; $500
steel and TUBE 7Gompsnyy e 1881 500
Smelling and Refining Company 5s 1sA7;
$500 Western Union Telegraph 6ha, 1886
NJ. M.
Answer-You have yourself made a
correct diagnosis of the only real weak
point in your list Steel and Tube rs
are somewhat speculative under pres
ent cc@dtions, and, as you say, you
probably bought them to obtain a high
return. With this exception your list
is an excellent collection Of $1O0 and
$500 bonds, and we have no suggestions
as to change
New-York tribune., 1922-03-05
Doesn't Like 10 Take Chances

Queation--W Would you kindly suggest TO
me- an unquestionabIy safe investment for
81 coo other than government bonds? I
had hoped for something safe that would
yield more than those bonds do. ! have
had my experience. however and do not
want to take any chances. Any juforlna '
tion would be appreciated. Grand Trunk
bonds have been highly recommended, and
J had thought Dominion OF Canada gold
bonds would be good. though. os course,
do not know about the different issues--
Mrs. +. w. K.
Answer We suggest that YOU CON
slider New York Telephone IS. 1911;
Westingh Electric Is, 1881, or Mon
tana Power first 5s, 1o43. Both bonds
YOU suggest are good investments. but
we supposed you wished to avoid the
government issues.
New-York tribune., 1922-03-05
Urged to Avoid Speculations

Question: have small amount of
naoney'to invest and have been cpproach ed
to buy international Callophons Securi-
tiee, also Il. & T. OIL for Investment I
hold some stock in Transcontlnental Oil at
Sl2. | am thinking of selling and buying
Middle States OIL. Would be glad 20 re
ceive your advice--S +. g.
Answer--In buying any OF the stocks
you name you are not investing at all,
because such securities have none. of
the elements of an investment. You
are simply speculating with your
money, and our experience, based upon
dealings with many thousands of cases,
is that people of limited means who
buy speculative securities are likely
to lose their entire capital. We
advise you to put your money into
some well secured bond Or the pre-
ferred stock of company which has
shown consistent earning power over
long period of years.
New-York tribune., 1922-03-05
Creditor of Rasmussen

ouestion-- Some time ago I opened an ac-
Way, notice In to-day's paper said lirn,
riaue an assignment to George A. Nc
,L.tsugh'n, Rector street Could you
h.nuiy give me any Information you have
o. sad iirm or give re any advice what to
uG IN the matter. The firm holds y Ger
In'cato for 100 shares Car Light and
fowsr full paid and carries for lne ON
tnarcin iity shares Pannsylvanla Raifropd
e,pek- Any inform tion or advice you can
give me VIII be appreciated ed.-~D. H.
Answer -- We cannot attempt, of
course, to give legal advice, but sug.
gcst that you communicate with George
A. Mclaughlin, 2 Rector Street, the
assignee for Rasmussen & Co. Your
status appears to be double because
OF the two different kinds of accounts
That you carried with Rasmusscn g.
Co., and so far as you were secured
on margin you become a general
creditor OF the firm and your claims
are met after those Of the pre-
tered creditors. In the case of the
broker holding stocks belonging to the
customer and which have been fully
PAID Tor, the customer in case Of bank
fuptcy can start reclamation proceed
ings TO get the stock which belongs to
MN and upon which he owes nothing.
New-York tribune., 1922-03-05
His Stock is Called

p, '.ues t'on~1 an stocilholder in The
received notice iron, the MiddIe s,a,.s
on Corporation advising lne that It las
osfs osneM oVer the Dominion company and is
81 tstes at The rate OF aeven shares OF Middia
states Tor ten shares OF Dominion. Kindly
,' ,el me know, what YOU. think Of this
ilNins to 90 so, can be compelled to do so
~ ~ orHer TO get MY share of the profits Of
ohe DOMINION companyr-E. u. n
Answer--Iou cannot be compelled 10
surrender Your Dominion Oil stock to
the Middle States Oil Corporation. but
we believe it might be wise to do so,
Tor IT 2 large proportion of the Domn,
ion on stockholders went into the
Middle States Oil on the basis offered
your STOCK might be worth little CT
New-York tribune., 1922-03-05

Employment Of a money order is
also feasible, but this system of trans
fcrring funds from one country to an
other is maintained by the governments
largely for the benefit of persons de-
string to send small amounts. Because
of the smallncss of the unit for which
it is devised. this method seems un-
necessarily expensive in your case. You
might instruct your bank in Sweden to
purchase remittance on New York TO
TO amount of your balance and for
ward it TO you. The bank would buy
this remittance at the current rate
for dollars and, unless you have reason
to doubt the honesty of the bank, there
would be cheated This would be a
relatively cheap and convenient way
of dealing with your problem
Another course open to you is to go
to the foreign department of reliable
bank or banking house here and ar
range for it to handle the transfer. In
this event you would instruct the
Swedish bank to transfer your balance
to the Swedish representatives. of the
American bankers with whom you arc
dealing and the latter would notify
their agents TO receive the deposit OF
your funds. Upon arrival here of ad-
vices reporting the receipt Of your
money, the bankers in this country
would pay you an equivalent amount in
dollars at the current rate Of exchange
on that day. The conversion from
crowns into dollars would in this case
be handled by the American, rather
New-York tribune., 1922-03-05
Raises Foreign Exchange Problem

Question: haze 5000 hr Sweden pch ao, ,,ib
ofoag djter three months
am nfdtar sh to act the mont do1rs
of these cro~n how shall haze the oy 1000 M notes
90 no mere @nH the oroWn shall
hoong tho exchange done the y quov he
a"d o am nccd Of the money, cosy keen in
o"ed@h oWns t favorable
0" ap 49, can""f leave there after should like 10
FoSt ths From time card from Kddcr
Feaoody Company conserving American Telephone
so"os convncag bu Woudnt
W course the American Telephone yields hoer
ntefcst but 1t safe? HoW
offered bY Pease & EHiuAn?--Mrs E. r.
Ans"eSeveral methods transferring funds
the United States and converting the
oud nave them sent IN the form Of cash. which you
hand here to hold sell might warrant
rms method would be costly than
of the expenses of shipment
New-York tribune., 1922-03-05
Switching in Spcculations

0uestioN~-I have faith in your advice to
nye?rors n1,' r;5 an; and am now wanting advice
oWu noe water OIL Company stock, average
cost aoout loo per share; is now ouoted
around lSo Would you advise me to sell
al this price aud invest proceeds In Mis-
per share -. A. W.
Answer-You apparently desire to
switch from one speculative Issue into
an other, and we cannot attempt to ad-
Vlse, about this. We think you would
do better in the long run to stick to
bonds or preferred stocks.
New-York tribune., 1922-03-05
Complains of Price Cor Stock

Question - kindly answer the following
questions; On February Il at 10 90 q, ~.
wired my broker to purchase 100 shares
Island OIL at $f.75 or better 10 -day re-
oeived statement that the above shares
had been purchased at y. The quota =
tions in The Tribune for February p were
"a and at one time ia. How could they
have been purchased at S1.15? Would
also like to have your opinion on Island
Oil as speculative iRyestment-i.. f.. E.
Answer-The fact that The Tribune's
quotations on Island Oil showed d high
Of q and a low of rs would not pre-
clude your getting the stock at Il. as
it is entirely possible there were sales
ct the last named figure. AS you
doubtless have noticed, this stock has
been weak while other oils have been
advancing. We believe it is highly
.Specula tive.
New-York tribune., 1922-03-05
Too Many Speculative Stocks

euest;on--Will you please advise whether
You consider The following list of stocks
not what ones should she change? At the
present time she holds the following list
ana has asked me to advise her how she
should invest $4,000 more: TO shsre-
Southern Pacific, 10 shares Northern Pa
cific, II shares Louisville g. Nashville.
shares Atlantic Coast Line, 10 shares Chi
cago, milwaukee, & st. Paul preferred, Z
shares American Wooden common; and
bonds, 3 Duquesne Light ~. per cent,
10 Brazil per cent, Ahsssissip2t River
Power per cent. Oklahoma Gas Rnd
Electric Company per cent Niagara
Power o per cent, II standard Gas and
Electric Company per cent, so New York
30 YOU think she has too many railroad
s;ocks? should she sell some Southern
Pacific for Il high grade bond Should
she convert some New YORK City bonds
into bond paying q higher percents ge
Your advice regarding this will be appre-
ciatcd W. b. r.
Answer-ln our opinion there are en-
tirely too many speculative stocks in
your friends list for sound invest
ment for q woman. such as Northern
Pacific, Louisville & Nashville, Atlantic
Coast Line and Chicago. Milwaukee g.
ST. Paul preferred. American Locomo-
tive preferred, Corn Products preferred
American Car and Foundry preferred
seem better suited to her needs. In our
opinion the Southern Pacific is the best
OF the railroad stocks in the list, but
even with that it would be more con-
servative to sell half of it and put the
money in bonds, as you suggest. The
Oklahoma Gas and Electric IS and the
Standard Gas and Electric 6s are a
business mans investment, in our opin-
ion, and q shift into Diamond Match
71as and Consolidation Coal Corpora
tion first and refunding 5s, due 1860,
would strengthen the investment posi-
ton We think that it would be safer
to hold the New York City bonds than
to try to shift into something with a
higher interest return
New-York tribune., 1922-03-05
Investments for a Widow

Question: a widow and have saved
little money by working ! was advise d
to buy 100 shares Of Uruguay bonds, pay
Ing per cent, [ bought them at "a and
they have gone up to l0a Would you
advise MY selling or keeping them, as I
want it for an income to help me along +?
Would also Ike to have your advice about
investing $1,000 which / have saved
!. n. il.
Answer-We DO not consider your
Uruguay bonds quite high grade enough
for widow. We suggest such bonds
as New York Edison Gas, due 194l,
recently selling at 106; Pacific Gas s.
Electric 6s, due 1941, recently offered
,5hs, due 1852, recently offered at
96,a.
New-York tribune., 1922-03-05
setback i'm Prices
In Short Session
Of Curb Market
,ro6, Taking for Weekend
checks Demand for Oils
and Prominent Industri-
.ls: Tobacco Stocks Drop

o.;e,, averaged slightly lower at the
- >sp op Yesterdays short session on
sos As result of a profit taking
'as ss,ent st for over the week end in
aass;snt oils and industrisls that had
aIem.S an advance. Theg sellin
's!ed 's!.lsd demand for these fevorites.
:eeess1 $50 stocks sagged slightly. and
.,..ss;and Motors fell back fractionally:
r,ties Service common and preferred
stronger. but Standard of Indiana
sssS s. see,e of the lower priced oils ruled
s.s .s,T w. Application will be made soon
e. = ';<t kirby Petroleum shares on the
s,..J - ~ yxchsnge, according to circu-
$50 ssspaIvsis OF the company prepared
~ n. J. Meehsn & Co.
New-York tribune., 1922-03-05
Investment Information

Questions Of general smtercst To in
teseors acstt be unswercd Iva this col
anan' sm which cose only initiale witl
DC ascd, Others so,N be amswercd bv
ao't. Address all enquiries, tnc,os.
fng stamped. addressed cnrelope. to
shdnctdt Editor, The Tribune, I5l
Nasso~ Street, NeU York City.
New-York tribune., 1922-03-05
Inquiries Should Be Signed

The Tribune has received letters
from mabel A. k" "Mrs. j. d. r."
TX. NJ. L." and mrs. l.. b. S." If the
writer's will send us their names and
addresses as an evidence of good faith
we shall endeavor to answer their in
quifies. The Tribune can not attempt
to answer anonymous communications
New-York tribune., 1922-03-05
International Silver
Net Earnings S433, ,503

Earnings OF the international Silver
Company for 1921. after depreciation,
taxes and bond interest, amounted to
s483,59 equivalent to s.02 per cent
earned on the: s6,o2s,5Ss of preferred
stock outstanding. compared with net
earnings Of 81 1885, or % per cent,
earned on The preferred stock in the
preceding year. After allowing $s52.14o