New-York tribune., 1922-01-23
Some Suggested Changes

Cuostion--your opinion and suggestion
Tor subet!tution will be appreciated In re-
have compiled for "A relative who Is de-
srous of obtaining as large return
possible compatible with safety. Tho Car
and Foundry stock Is chosen as easoncd
STOCK which has reasonable assurance OF
mainta lining the dividend OF - per. cent
10. To- AZ least three years and II such stock
pront can be assured. In addition to tho
merits Of the above can be added our
securities II advisable: N.rginian Rail
way Power first and rctunding 5s 1854:
be'roIt 1eso,t Edison n,, first and retundins IS:
1875; Baltimore & Ohio Southwestern pi-
vision first mortgage avs. 1928: Corn
Products 5s. 1884; ten shares American
Gar ana FOUNDRY oommon-F.sr. V. d.
Answer-The Investments you sug-
gest are good. i'll our opinion, with
the exception Of Nirginian Railway &
Power 5s. 1884. and baltimore & Ohio
southwestern Division 312s, 1925. I'm
der present conditions neither of these
bonds is high grade investment, and
the Baltimore & Ohio seems particular
~ unattractiVe by reason of it's short
maturity and low current return. We
suggest the substitution for it Of Vir-
ginian Railway first mortgage 5s, 1862
recently selling around 90, to Weld
900 to maturity, but with higher cur
rent return than the Baltimore e. Ohio
rs. Instead of the Nirginian Rail
way & Power we suggest Kansas City
Southern first 3s. 1850, recently selling
at about "a. to yield $50. These bonds
VIII give you a lower yield to maturity.
we realize, but the current return viii
not be much less and the factor Of
safety will be very much higher.
L. r. Steel Realtv
ouestion--Would you kindly advis. a. to
whether investment IN real estate stock Of
tho L. r. Steel Realty Development Cor
poration is a safe Undertaking for ono who
earns ones living? Their main offices are
arc in the Lincoln building. Buffalo whilo
Ne'T York offices are in the Knckerbocl1cr
! building. Also kindly let me know ie the
( Pail Mall Petroleum Corporation is reltable
and as safe Is desirable in an oil sc :
curity.-M. OR.
Answer-We regard the stock of the
L. r. Steel Realty Development Cor
poration as speculative and not at all
the sort of security which woman
who has to earn her living should pur-
chase The same thing may be said
Of the Pail Mall Petroleum Corpora-
ton Did it ever strike YOU that in
buying stock in either of these COM
panles you are becoming a partner in
business about which you probably
know very little, with no promise given
that You will receive q return on vour
money and with q possibility that you
wit lose it? Why not put your money
INTO good bonds. thereby becoming the
creditor of d corporation issuing them
and receiving definite promise to pay
YOU specified rate OF interest on
specified dates and to return your
principal to you within a definite time /.
There are many thoroughly sound
/ bonds which are obtainable in amounts
as small as 500 which VIC frequently
recommend in this column.
An Individual Case
'lon-kindly advise any change IN
following Investments: Bond.--sl coo North
ern Pacific general 3s $1,000 Atlantic
coast Line Louisville & Nashville collateral
trust 4s, 81. 600 Oregon WASHINGTON Railroad
d Navigation Company as: $500 United
/ Kingdom Great Britain and Ireland lss
/ 1s39; $500 City Copenhsgen 5las 81 600
Armour & Co real estate 4i,s. 81 900 Now
York Telephone Is, 1871. Preferred stocks
Six American Locomotive seven Bald
win. seven Atchisor. Topeka G. Santa Fe
five United States Steel. five Standard on
OF New Jersey. Also have three shares
local savings bank. salable at s2sn y
share. and $1,000 life insurance and about
5000 interest in local re al estate A recent
! article In The Sunday Tribune stated chat
recent earnings pUt Northern Pacific A.
iantc Coast Line and Louisville & Nash
vile railroads in Class instead of Class