davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-12-03
Investment for $1,000

oueEtion-wiu you be good enough 20
tell mo what you think or the following
investment for a little over $4,000. with
current yield OF 1885 a yesr7 Do you
reglrd the investment a. a whole as a
conservative one. from the point OF view
OF safety OF principal and Certainty OF
return7 The elements OF II. with one excep-
tion, were selected according 10 the advice
you have given 70 others. Wha, would you
suggest for the next ii.OOo-another
public utility7 The list: 1900 Canadian
Northern 6hs. 1915; $4,000 International
Paper ''B" Sc, iti7; 81. 900 Chicago Union
station 6hh 1862: 1900 New York Gas
and Electric Light. Heat and Power Gs
1858; 1900 Grand Trunk OF Canada 7s.
1890; 1900 Public ssrvioe 81. 1853; ten
shares American Car and Foundry I per
cent preferred. ten shares Am rican Light
and Traction per cent preferred.-L. n.
Answer-The investment you have
planned for your $4,000 is conserva-
tive. We feel that you might buy an
other high-grsde preferred stock with
your next $1,000, some such stock as
New York Telephone preferred or Ma
tional Lead preferred.
New-York tribune., 1922-12-03
Business Improvement
Holds, Says Credit Man
Tregoe Stresses Danger of New
Imitation, Hhowever, and
Adviaea CaufiOn

Improvement in trade conditions still
hold, according 90 J. II. Tregoe, exec
utiyo manager Of the National Associ-
alton OF Credit Men, despite numer-
Gus complicated problems. The great
est Improvement, he asserts In his De-
cember letter to the associations mem
bership, has been In credit conditions.
Stressing the danger Of new inha-
ton, reporting much unevenness In
production and an upward price trend
In many lines, Mr.. Tregoe summarizes
the favorable and unfavorable factors
in the present situation as follows
"The favorable features as we see
them afs
"l-Improved conditions in the fuel
supply that would be still better but
for the car shortage.
"2-The trade volume as reflected by
car loadings, bank elearings and other
indiees Of business.
"3-The general belief that an in
hation would be easy 20 accomplish
Just now. Forewsrnoi Is forearmed.
This knowledge did not prevail In the
serious period Of 1920.
1.-THE increased buying power OF
the wage Garner generally.
"5-The upward price Of eome few
farm products. such as cotton. tobacco,
etc.
"s--Ineresssd buying Of railroad
equipment. =.
"7-Ths ease Of the credit situation" I"
The unfavorable factors are present
ed by Mr.. Tregoe a. followsi
1.-THE low buying power Of the
farmer generally, reflected In the dis
parity OF prices Of farm products and
Of manufactured products. This Is one
Of the most dangerous symptoms OF the
entire situation and calls upon as 20
utter the caution once again, Watch
s2EThe car shortage, affecting the
abilities Of the railroads 20 move
freight rapidly, especially farm prod
ucts. in order that the stringency OF
the producer can be relieved.
"S-The public utterances that APP
pear every now and then to the effect
that Ne are In or approaching closely
an era Of prosperity. Such utteranees
do not reflect exact conditions and are
apt 10 encourage unfortunate optimism.
"l-The continuing unfavorable and
unsettled economic condition IN Eu-
ropean countries and the tenseness IN
Near Eastern Affairs. These sltua-
tions affect the buying power OF Eu-
rope, with an immediate eject on tne
possibilities Of marking sueh OF our
products that cannot be entirely con-
sumed at home.
1.-THE danger Of not holding tast
to a sound economic sense Ia these
serious days"
New-York tribune., 1922-12-03
limited asrriea shar.s

Question: have read with great interest
your answers 20 investors who ask oues-
tions about certain stocks. and / would
very much like TO have you give me your
advice about United Service Corporation.
which operates public utiiities.-J. H. u.
Answer-The United Service Cor
poration was incorporated in March,
1920, 10 own companies doing an elee-
trie light, steam heating. water, gas
and street railway business and 20 op-
crate their properties. Capital stock
Of the company outstanding consists
of ti,fso,bb0 (s60 par) preferred and
25.624 shares no par value common.
Of the company have been
sufficient TO pay dividends on the pre-
ferred stock and 81 year on the COM
mon and carry about $4,000 TO sur
plus account In 1920 and 1921. We
regard the preferred issue az q busl-
ness mans investment and the COM
men somewhat speculative.
New-York tribune., 1922-12-03
Earning. Of Two Comp,nIe.

Question-we would appreciate It great.
ly II you would give uR the informa ion
you have Al hand regarding the present
financial status OF the Beaver Roard Com
pRny and the relative value OF the bonds
Of this company We would also like TO
have the same information IN regard 20
the Foundation Company and the stock Of
this cOmpany.-D. G. II.
Answer Reorganization Of the
Beaver Board companies has been com
pleted, and Il Is reported that the
financial condition Of the company Is
satisfactory. Although no report Of
earnings has been Issued, business Of
the company is said TO show consider
able Improvement. Income account of
the Foundation Company for the five
year period, 1917 to 1921, shows a sub
stantial amount added TO surplus each
year after payment Of dividends on the
company's stock. A balance sheet Of
December 81, 1921, includes surplus
and undivided profits Of $2,l0l,io7
Dividends Of $500 were paid on the
common stock in 1921. No recent re-
port Of earnings is available.
New-York tribune., 1922-12-03

slder uneound--or worse.
Evidence that progress is being made
In eduestlng che public 20 use greater
discretion IN purchasing securities
comes to hand from time 10 time, Of
course, and there Is reason TO believe
that stock sslesman do not now And
1t so Easy 70 dispose Of their wares
among those who keep abreast Of sf-
fairs through newspapers. Moreover,
the huge losses In oil stocks which en-
joyed a postwar boom have served 10
warn security buyers and restricted
operations OF promoters.
Encouragement has come in the form
Of commentator Of The Tribune's pol
icy and in letters Of gratitude from
readers who saved money by avoiding
doubtful speeulations. Such post
scripts Rs the following from a recent
letter help 70 strengthen the belief that
the public is showing greater diserimi-
nation:
New-York tribune., 1922-12-03
seaboard Air Line Preferred

Question: am constant reader OF
your column on investment information. I
should Ike 20 know what you think OF the
preferred stock OF seaooard Afr Line Rail-
way for a long pull. I do not own any
Of the stock at present. but was consider
ing buying some. as II seems pretty cheap.
Do you think it will be iong time before
they start paying dividendsl Would you
prefer buying Missouri Pacific prsferred1
y. 3. q.
Answer-Seaboard Air Line pre-
ferred stock Is an extreme speculation,
whether you view Il as a short or q
long pull" On the basis Of returns
for the frst eight months Of 1922 the
company will not earn Its fixed charges
this year. We can 20 no further In
answering your question without go
ing outside the province Of this col
umn. Missouri Pacific earnings are
better than Seaboard's.
New-York tribune., 1922-12-03
Peoria Z Eastern

Question: would appreciate any infer
nation you could give me with reference to
the stock OF the Peoria 4 Eastern Rail
road. I understand the bulk OF tho stock
has been taken up by the Big Four" and
that there are certain conversion privileges
for those yet outstanding. ] would thank
you for advice az 10 It's exact status
W. c. N.
Answer--In December, 1921, the "Big
Four" offered one 81 900 ~ per cent
first mortgage bond Of the Evansville,
Mount Carmel 4 Northern Railway for
each sixty shares Of Peoria a Eastern
stock. At a meeting early in 1922 the
Peoria stockholders rejected the pro-
posal. Later Il was decided that no
reorganization would be carried out.
New-York tribune., 1922-12-03
R.rnoldn Springs Decline

ou.at,on-some time ago upon tbs ear
nest reconm sndation OF Soodoooy -,
members OF the Nsw forn n,,,.SSs ncoplc. /
nt,rchaaed 100 shares OF Reynolds spring
common at ~. Stock has steAohy aec.nyu
70 around ~ per share: arr tolu ,s W.,
isst abatement shows about " per shtIe
80 med on this stock. bat something must
hs Oronr somewhere. l would much ap-
preclate your information on MA seSus ~, ~
ff n has value and is earning Hooo nlencs
my best dope would be 20 puren1Sts .nSt.h ~ az
hundred now on an average, whlch =. >.
~ould let ms out whole. am cons,ant ,,,
reader OF your paper ana nope 1Ou ~. 80.
20 into this matter as thoroughly as you.
facilities permit. advising me tho 'e'N''
OF your efforts.-W. a. j.
Apswer-You are not the only enc
who holds Reynolds Spring common
stock at considerably higher prices an ano
would be pleased to see a recovery me
pool which became interested IN tne
common shares Of the company Is sara
still to hold a large block. Price. huc-
tuations have been influenced almost
entirely, II would seem, BY speculation.
There was not a little speculation in
the Middle West, according to brokers,
and a large block Of the shares was
In what brokers term weak hands"
When the reaction came support from
the pool was unequal to the task OF
steadying the market The decline
was, therefore, hastened by liquidation
of weak holdings. Although earnings
Of the company in the first half Of the
year were equivalent to 50 share on
the common and In the next three
months were at the rate Of more than
S6 a share annually, the common has
mot received dividends for some. time
and therefore is largely speculative
Earnings at present are said to be
continuing at a satisfactory rate. The
company has three principal products
springs used in seats Of various
kinds. wireless sets and bakelite prod
ucts. The wireless business has not
measured up to expectations and the
bakelite operations are comparatively
new. The company Is an old estao,
lished concern and seems to have had
competent management. We see no
reason why you should take such a
loss as a sale Of your stock at present
would necessitate, but we cannot at,
tempt to predict future prices, ana
whether you should attempt to aver
age down" your loss Is question you
must decide for yourself.
New-York tribune., 1922-12-03
Financial Items

The New York stock Exchsngs -. ~
Graham. Ritchis a Co. has ossn o.. n q
enectios December 1. With ofne'l, go
Broadway. IL is eempcseo - ,s-rlT
Graham. Frederic . hl.ehls, .s...,isI 2.
and Alan ID Hall. and VIII oena...,'. 4
hnsinSs~ AZ Graham 4 Mip.r. mem-..1
the New York stock ExehAngs on.<rr
by mutual consent. The prefslt 81
shfp fs An outgroWth Of Je6s1p' -
Co, estabilshed IN 1878. a,
Clarence saundtrs presie.s ia )
Piggy Wiggiy stores. Inc s.sc,ssrli
has been detsrmlned by ne N RI
of-the Piggy Wisely stoIet ,nsrlrf
Ommend AZ the stocknole',. rret1Il
Srcrsd SNs. 20 az eoS,non stosk. cla.s =. Z.
BE- authorised In view of tns
kst conditions az this time ...,sil
Tn. National city Company -, ~
that Robert X. Deishsld, ..,s tnsr('
presidenf. has been selected 70 .-1k bnt'
of the New England TERRITORY,
quarters al Boston. f
Tn. Chase National Bank ha.
pointsd dividend diabOr5ipg sss-
Adams Express Company. - -
y. a. Linvills has been sppe.ee',sis, n, ~
PRESIDENT and general nanasss' ss * -
York Indemnity Company for tsss.'l ~.
81 dsvelopina the company in gen,,.-.tIn
ualty lines ana establishing
agency organifstion. ...,..I
A syndieats comprising the N
Company OF New York, ben.''rr rrnsf.
COMPANY. stacy 4 Braun. AnaeA ,e~llll
a Co. W. n. Compton Ccmparys tesrr y
BaiIln a Lee. Wells-Dickey Conl,..Trr y
the Mississip1i valley Trust co.a's.io1is ass 'si1s
purchased an issue of tt.oey'..., ~
koufh Dakota ~ per cent Ia'stsl =
6onds 10 b dated November 10. m,'SS, 4
due November is. ists. which VII
''sse oisn a. stalker, formerly q L.,o L.,..,o
Barker a Jennings. has oecom. IA "A.
wieh sioans. pell a Co. a. manas@
railroad department ..-s.s AZ 4
Az the annual meeting yessIe-f ff ~
Prudence Company. Inc.i Nllllse tt. Il
nsh. president and directo. y = ~
plrs Trust Company. va s,ss', ira
~ of the executive committee - 1P.,rs| .
Rnsh. prssidsnt of the Boss cf h
compaay ana president ana d,is.,.' a ~
chamber q :,.a2 cen@ssess, Z s,,s.iss q az w.
New-York tribune., 1922-12-03

"P. S..--I didn't buy Manhattan
Piggy WigYiy."
II is not surprising 20 know that DR..
Frederick A. Cook, former Arctic ex-
plorer and lecturer. Is offering his SER
vices 20 Comsncke Queen Oil share
holders IN an effort 10 prevent n "freeze
out" Of small stockholders. II Is in
teresting, too, to read that DR.. Cook
believes "you Will win-and win big
because our producing wells assure
dividends" You no doubt have noted
that in the properties listed in four
states the Petroleum Producers Asso-
citation names only two producing wells,
output Of each ESTIMATED at fifty bar
rels'-presumably daily. The assoeia-
ton will have to do a lot better than
this. In our opinion, 10 pay dividends
on all the stock being offered In ex-
change for Ajax oil, Hercules Petro-
lcum, Allied Oil, Pilgr m Petroleum,
Comanehe Queen Oil, ct al.
New-York tribune., 1922-12-03
Imnerial Tobacco Of Canada

The report Of TIE ImpeflsI Io'sH.
Company, Of Canada, Ltd for the ysi'
ended September 80, 1872. showed ~
profits Of Ss,s3o,s7e. after charges Al
to~es. equivalent after preferred DIV
dends, 90 90 cents . share lpsr y
e.rged on the $3l, 10000 CONNIE,
stock. as compared with net profits ..
1885, 1888, or a. cents 8 share, On tns
$40, 100000 common In the prsyou'
year. The income account, a. Of oel'
tember 80 1922, listed net 2roht', hn'
expenses. charges and Federal ni.s
as So, $50 ,sT6, preferred dindsnds, Vs.
542; common dividends, sibsz w; -.
plus, si,3o5,sO4, and profit and 4"
surplus, 95,364.l7O.
New-York tribune., 1922-12-03
Advice Ia ConaIetIng

Question: have 100 shares OF Middis
States OIL Company stock. purchased A.
tl6. now I'M. ! do not seem 20 get any
sOncrete Information IN yarlous quarters.
One Will tell rue 70 hold Il, while another
says 10 sell my stock. AZ II IL not advisable
70 hold. Would IL be entirely consistent to
ask your opinion through your columns p
T. NJ. II.
Answer-It Is not surprising that
you receive such conflicting advice In
the case Of q stock 80 speculative as
Middle States Oil. We regret We are
unable to help you reach decision on
the proper course TO follow, but such
suggestions fall outside the scope of
this column. We shall be glad to offer
suggestions on investments.
New-York tribune., 1922-12-03
Aalem..Ie strslrh. AIr BraLe

ousstion--can you supply any informa-
ton IN relation 20 the Automatic Straight
AIR Brake Company Of New York. stock In
ssa .; serSs'sSGs ,Ss SrI. % tSrossh gss9 K,essr
body 4 Co. about two years agof What
le the present value Of the stock and Il
there any market for itf-w. d. A.
Automatic ssrsishi Air brake s'ts coSpany nj ny.
1is Eleventh Avenue, New Yerk city,
stock was purchased through white weld
A Co., brokers. Supposed 10 be = vast im-
provement on present railroad air braks.-
Answer-The Automatic Straight Air
Brake Company first attracted atten-
tion In the autumn OF 1917, when II
became known that such q company
had been formed, With the financial as
sistance OF d. G. Reid. former tinplate
king and at one time dominant In tho
affairs Of the Rock Island, and his a..
soeiates. OF the first preferred (ti0e
par) authorized TO the amount Of
s5.000.000 there is outstanding s90b,-
200; second preferred ($100 par), au-
thorized Ss75,000, outstanding $67b.000j
common (no par), outstanding 100000
shares. The first preferred iS entitled
10 dividends at the rate Of 8 per cent
annually, cumulative from January 4,
dividends, cumulative from January 4,
1925. All the common stock IL held BY
the Bankers Trust Company, agent, IN
der voting trust agreement dated
March 1, 1920, expiring March I, 1925.
The transfer agent 10 Kidder, Peabody
4 Co., who sold some Of the hrst pre-
ferred early in 1920 at par, with a
block Of common stock as bonus. Ef-
forts have been made By the company
20 influence the Interstate Commerce
Commission 10 displace air brakes now
In general use on railroads In favor Of
the automatic straight air brake, and
hearings are now being conducted In
Washington on this point. What sue
cess win be met remains 10 be seen,
but Il 10 APPARENT that snares IN the
company represent only an interest m
a speculative venture under present
conditions. At present they have little
market value, according to Kidder, Pea
body 4 Co., who are still interested In
the company. being represented In the
directorate. A block Of more than 5000
sharey changed hands at auction No
vember %, 1922, at 10 cents4a share
for the common certificates and 20
cents q share for the second preferred.
The company's brakes have been tested,
but affairs are still In an experimental
stage and, therefore, no financial state
ments have been issued. "Ineome so
FAR has been only nominal, while op-
erations have chiefly involved expendi-
lures" according 20 the general man
ager, who adds: "The funds have been
provided principally by the interests
identified with the company, and in
nart from the sale Of stock 70 the pub
lie" White, Weld & Co. deny having
been interested In marketing the stock.
New-York tribune., 1922-12-03
d. p. Robinson q Co. Preferred

ousstion-Dvight p. Robinson a Co. are
onering 20 their employees on a partial
payment plan 200 shares OF their nrHt pre-
ferred per cent cumulative stock al tha
price OF t7b share. This company r.
located at i1s East Forty-si Street.
New York City. and has been organised
about four years. According % rumors
the future looks very big. but any details
regarding aeseta and ilAbllltieA etc, they
VIII not give out. Although I cannot AZ
ford TO speculate, this plan suggests a very
good way OF saving. What would you ad-
visef The stock IL not listed and has not
yet declared dividsnds.--A v. n.
Answer-Dwight p. Robinson 4 Co.
first preferred stockholders have re-
eeived regular quarterly dividends at
the rate Of per cent since October
!, 1920. However, we should wish to
see a recent income statement Of the
company before subscribing TO these
shares az rs. An investment Of this
sort is suitable, possibly. for a busi-
ness man, and the investor should be
entitled 70 necessary information Of
. business IN which he anticipates be-
coming . partner.
New-York tribune., 1922-12-03
Swiss Cotton Goods Cris,

The depreciation Of the - 81
mark. the higher American tafi u
keen competition from other coz. ec;.'.,- 4,
especially England, has brosSn a
Swiss cotton goods industry 2 =
most complete stop, according Y
port 20 the Department OF Cs.Iss.s C,,..s..
from Vice Consul william II. ha'N
Zurich.
New-York tribune., 1922-12-03
InauIrie. Should pe sIrned

Inquiries addressed TO tbs Depart
ment Of The Tribune are r-~'rded as
confidential, but 20 show tn writer's
good faith all should be signed, and
an address should be inclosed for reply.
Letters from the following are being
held for Identification; X. G., II. 81,
Miss A. B., c. J. w, +. Z. M., D. Z. L.,
W. C., C. D. K, W. w., "Investor," /"
]. p, A. A.. N. X, J. 7. c.. W. A. B..
". W, J. G.l J. H. W. Z. H., N. r.,
G. +. S, and J. D. ..-,
New-York tribune., 1922-12-03
Divided on Rubber Restrictions

British rubber interests are divided
over the merits Of the scheme Tor re-
stricting output Of rubber, says Com
mercial Attache Tower. Producers vel.
come the news that both Ceylon and
Malaya agreed to the scheme, while
the Rubber Manufacturers Association
has denounced the plan as economical
- uuaound
New-York tribune., 1922-12-03
Paris Market Quiet

PARIS, Dec. 2.--Trading vas qs''.
the Bourse to-day. Three per
entes, SO francs 80 centimes. Exen,r e..
on London, o. francs 80 eensines. ~. :.
per cent loan, rs francs 30 eenslns =
The dollar was quoted At u fr'na :
eentimes.
New-York tribune., 1922-12-03
Continental Candy Gone

Question: would appreciate Il greatly
n you could give me some Information
about Continental Candy Corporation Also
II the common stock has any Value. Il.
Answer - The Continental Candy
Company was forced into reeeivership
in February, 1891, and subsequently
into bankruptcy. A sale OF the assets
Of the company realized about 10 per
cent for creditors. The common stock
is Of no value.
New-York tribune., 1922-12-03
Rubber Prices Up in Holland

The total quantity OF rubber ohereo
AZ the last public sale In Amsterdam
was iss $40 Kilograms, Of which leiS-
efo kIisgrams were sold. The Increase
AZ pricea since the iapt sale OF Sep
tenbor 20 was fully 30 per cent, says
Consul Frsak w. hsyhin-
New-York tribune., 1922-12-03

Qnssfso4s 81 general intsrest % tn-
vsefors uvin Be oHswsrsd IN thts cot
uDsn, tH sDkich ease only tKittais sgth
Be vssd. Others gin Be answered ey
mail Addrsss ell Inquiries, tHelos-
tH0 a stamped, o&dvssssd snveiops, e
FfnaAcsal Editor. The TribtHe. itt
NossaH Street. Nsp York CITY.
New-York tribune., 1922-12-03
DTyIDEND NOTICES
Real.y A..eeIs.... lss Rsnsos s..

Brooklyn, ~. ".
DIVIDEND NO. 40 AND EXTRA no. 10.
November "a. is71.
Tha Board Of Directors has this day de-
olared ths regular seni-annuai dividend Of
3 p~rcsnt and aieo out Of earnings for the
year an extra dividend OF ? percent upon
ths capital stock Of this company. both pay.
abe January Is. 1874. 10 atockholders Of
uary 9Th. 1919.
New-York tribune., 1922-12-03
Lnndnn Money Market

LONDON, Dee. Bar gold "
quoted az els I'd. Money was 49, -.
at IN per cent. Discount rates i -i
Short and three month bills -
per cent.
New-York tribune., 1922-12-03
Satisfied Judgments
Tn wsw Vnra (ouu2v

The arst name v that OF the dsbtosi the
second that OF the creditor and date Nhsn
judgment was Med,
Dun. James g, and Robert A Bar-
Eisnirs; rss ). isii. ......... tsssT.W
corbin. FioYod s-r voa Kaent-
AL; Nov 20. 1879 .......,.... f.ooltB
'.I q. Be-" Bee "a iiis ....s..s...-s Gaslss
New-York tribune., 1922-12-03
Bid and Asked

Following are the closing bid ard
asked quotations Of stocks listed on
the Stock Exchange In which there
wer. no transactions yesterdays
New-York tribune., 1922-12-03
ELECTIONS

THE GTzEDlAN LIFE INsUhKRCE
COMPANY or AMERICA.
Tn. snnaa. election Of Directors of this
Company will be held Gt its principal
ofioe Ne. 80 Union Square. IN The City Of
New York. on wednesday. the 18th day Of
Deeernber, 1884, fro1n ~ A. n TO p. 81.
y. A. ooEKn. sscrotsry.
New-York tribune., 1922-12-03
ssms-ssms NsT s.n. Is. d.,.,, lS,; =

A. Ratkowsky, Ine-H l. Springer !
Psigeneladt, Martin As Drinn
~ al ssssststfss ssststf
Lion Brewery OF New York City \
-Llppe. stoeasel Trucking co. =,
Inc .................. l.
Mandeistrrn, Leo Auerbach..
seidsn, Joseph-T Wilson a CO..
New-York tribune., 1922-12-03
Judgments Filed
In New York County

The following Judgments were filed yes
terday. ths first name being that OF the
debtor;
New-York tribune., 1922-12-03
B BROOKMTRE

ECONOMIC SERVICE, mo.
~ z5 wsss ASIA sar-.s No. Yea <Fn
.&2 - - :. - -