davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-08-13

C,e.fa. nave .rtfel fo foI boin,"
fs~ advice concerning fuF own invest lh-"l
buf would np" alS--ei.'- .,..l-, - -.
advising me concerning an lHtrs' u'fhi p.
900 far my surf v.1 would hH' in e,
r~turu - from ~ prr ,'ni
n.n4- -o htFh e1r b"cai-' me b.
,.,ulI Ike fh. ~ ripaI Geo Do rair
possible. hars H4ggrrtnd th@ buN ihs ",
du--n shares ~ Anrri..n ,'- Si. ss.i'lrl
ksaa,Fs ,r5 ef,'sn shsre. o, Beih
I.n.rs efr.l pee cent preferred. frlin .
.r.,t,na b. Thee fNn irtfftfufhfa SOU. N
rasf approx watflF $500 anu 'I
rlf- sr annual rotn'n n' -. ~"
Soon advise flr p4I0hafe of ine'"
Ia r-~ferrrd STOCKS ~ good Investment
n not would yoI kindly rIggcsf tN" %.
h-.a good preferred Fioff .'4."
aplrrrlat~. q sfrF much u fo. would .n
~ .,a concerning fsu saarrs 81 Neu
YorF. ontario 4 Wrr'f.n Railroad fiol =
~h..h purchased at - fnr 30 nfes'
mont. anf Whefh-r they VIII pay nc ="
nuai dividend of YER cent THIS iail
s. B. D. o.
Answer-lf you require per cent
return on the investment for your
aunt. American Smelling preferred and
Bethlehem Steel : per cert preferred
.re suitable and do not call for the
assumption Of a greater degree OF risk
than many securities giving a similar
return. in our opinion. There sho1 d
be an arrangement FOR watching the
aTairs Of the companies. however. =
arc in no position 10 predict a. 10 wha'
the action of the directors VI the
New York. Ontario & Western kAil-
road wall be with respect 10 dividend
action this autumn.
action this autumn. When We say
tbnt a security needs watching we do
no. mean that the holder should Be
in position merely 10 keep IN touch
with current market fluctuations, but
rather that he should acquairt him
SELF with ell the facts necessary 20
detect any change m intrinsic worth.
You will find some valuable sugges-
lions on this subject in an article car
ried to-day among the features on the
page preceding the stock market quota
fHUfa
New-York tribune., 1922-08-13
Wants Good Preferred stock

Cuestlon-wiu sou please tell ~ what
Other preferred stocks ;ou would fan {.
with United states S-eel preferred " NollH
not the preferred stocks % Corn Products.
National Biscuit. American IOcorofitF.
American Car and Foundry and oinef ~
dustrials having the cumn4ailfr 4fat p
rank equally as high h not' IN ~
orde- would YOU rank theml ask %
cause ] have some Atlantic Eriulng pre-
,errrd which ii s~@Ins 20 me Advisable 20
sell while can get something over tn'
call price and reinFest M =. oeeeaA rl ..
OF The permanent preferred stocAs IheF,
fore safoty being cQcai. ] would lke ID
buv Z preferred stock selling a. ADo l'
What I can get for the Atlantic. wherta'
steel sells higher already have soin'
steel preferred. p a. II
Answer-U. S. Steel preferred hs'
the greatest asset value securing the
par Of its shares Of any Of the stoeks
YOU mention. With Corn Products
preferred and American Locomotive
preferred dividends have cumulative
preference and in the event OF dlsso-
luton stock has asset preference.
Dividends on American Car and Foun.
dry preferred are not cumulative and
National Biscuit preferred ranks
equally with the common stock Of thht
company in any distribution Of assets
but preferred dividends are eumuia-
tive. You will readily see tnHt the
elements OF safety Of some Of these
securities are different, and when earn
ing potentislities are taken into con
sideration any distinct grading Is diff
fcult. American Can preferred or
Baldwin Locomotive preferred would
provide you with a good security a.
lower pric. than Atlantic Refining pre-
ferred and be suitable FOR your pur-
pose, in our opinion.
New-York tribune., 1922-08-13
No Market for Securities

ousstlon-Rindly sdvise n- what 20 20
With twenty ahar-s % T0wsr Cotton Mis-
prrferred aeVea shares - Towar tonsoll-
dated Mus Company and two 80" hals :
Food gold notes ss. j. there any WnfNe :
Tor them They cost me ftfe, ana !
should like 60 act my money for p4fi ~
nD back. Also when does The payment
of coupons expire o. the French loan -
isi7--J. =. =.
Ansver-Not infrequently securities
are sold by houses acting as hseal
agents and when financial difficulties
beset the borrowing companies no
market is provided for the owner
Of the Aseeurities. ]. d. Noll q
Co.. who were instrumental in dispos-
irg Of the bond and stocks you hold
,S,rm us that there j. no market ior
these and we are unable TO find other
brokers willing 10 make bid. A wise
plan 20 follow when making invest
ments is TO buy listed securities that
are sound and that have made regular
interest OF dividend payments over
period Of years. Time for collection
Of interest on French 81. 1917, expires
Eve years after the due date OF eAeh
coupon.
New-York tribune., 1922-08-13

cues lon-fn 1871 purchased ihrouEh
~ 4 DublsE- a co. fH1 ur'f- inur p.T
fsrr~d and one c8mmon1 - stevens l-ff 20
stock 40 gITS p~r unit Recently rep
reaeufafVe OF SANFORD Taca 4 Co. pi =
Bro4dway New NofA. offered VIZ f-'
share when h- failed to sell ne any andi
tlousi shares - fl.o. t~ promised r-"a'
things rer the company Alter frorEall--
tlon ls completed what would you AL
vis~, am ln position ip Nai, 10 ~ ''
10 any scheme u lupt0t rwcnl-F % =
Answer There would be quite
profit Tor any stoc1 salesman who
could Dcddie Stevens Duryca units a.
$3.50. or even $l90. each in view of the
fact that these units were recently
offered by discouraged holders IN the
open marke; a. 81 each. You can buy
th-m-if you insist on increasing
your speculative holdings at as low
as Sii each from, dealers in unlisted
securities. In view Of this low price
however. the question arises, Why
should one buy these unitsl The an
rvrcr is. One shouldn't What present
stockholders will receive a. rcsult
OF the contemplated reorganization i'
problematical. but the outlook lult az
present Is not encouraging. II you
feel inclined to dispose Of your hold-
ines and hesitate az taking ~ little a.
81 Won might consult II. ". Dubiske &
Co, Chicago. from whom you pnr-
chased the stock, asking n they can
offer YOU q better price.
New-York tribune., 1922-08-13
Holds Speculative Stock

o,ssfion-In 1920 invested l'V ~. m
,.ationsi Exchanges. Inc. nave ~. ~
49,. OF preferred stock and i've sns.e s.es
- co7nmon stock. have recelteu ~,
s,,.,dends 81 ana ~ tho present tme, m
are asking $50 char for i9e sonnS pe's in- ~
s,ecL DO YOU think u COCO. , rcu.u -.
.1s,,n.,tq would like you 20 puSnsh ~ ~
answer IN The Tribune 70 ".s.r lnas ~ l. .
S",e invested may know whethe' i1
Ind tnvestnent. W. II. ..
Answer-We are not surpriseu ina
,siesmen are trying TO sell Natlonal II
Exchanges units at $40. Originailys
aaSf units" comprising one share each o! o.
preferred and common, common, were S',i;doSS sS'G Of 4 !
SIv' so. sn was maid the Offering price
Ps. Rsr advanced to s1s. At the present
in the outside market. II Is I not ,,Srr Tm,
nsnal ne for salesmen engaged IN peedlng
SSs-ss Of improved ventures to attempt
ssiiing at a price representing seyersi
,;rnes .he offered market price. IheIe
l. nothing TO suggest an investment IN
connection with this stock. IL - .
viakv spcculAtion.
New-York tribune., 1922-08-13

Oassi 1r--no rol Enou elffnIug aoo p
The spear O. Company of SifDh~tFii~'
Tesasl The rr~sidelf Vas ~ ~
and che tic--pres MAS J p. onN
I.af Iun~ The company combined W .ih 70
petroleum Producers Association. " hich =
t-rorfed 10 D.. O. torl1Inafion 80 nfIf nN
con.panie- They claim t1 have i"efif
e.rht a.Ils ll r~trols tnff atfo AIN ~
heliuGn CONES from this section. in IN.
same letter fhsy sail tftf be Ion" TI''
Gas Comuanr .uI the United states 20.
~rrmeuf have erected fFs mug. GO II-his
o. p@troua The spear Ol go efs want
their FtorE holders 90 fubfrrln@ p -.
cent u their present hoidlnEs iH me new
combine The rres4dflf ~ Petroleum fIn-
ducrrs Association ls Frederi'- = Coo -
~ J. n
Answer-Your speculation in spear
OIL has resulted in loss, and your meui-
DRY may recall cxtravagart claims hnf-
ing been made at the time you puf-
chased the stock somewhat similar 20
those presented by the Petroleum Pro
ducers' Association. This method o.
inducing you 20 continue speculatlnr
!r oil l. not new. and YOU would prob
ably be given the same interest q, tnc
same price II you didn't surrender your
Spear OIL stock. The money is what
oil promoters want and we advise yol
20 refuse the Invitation" 20 subscribe
New-York tribune., 1922-08-13

ment Of the earnings % the individual
units. These statements Mr. Elliott
has declined 90 make public on the
ground that the cost Of operation OF
the Piggy Wisgly stores viii remain
disproportonately high until much
greater number are opened, when the
cost will tend 20 decline.
We do not know whether Mr.. Elliott.
as president and chairman Of the Man
haitian Piggy Wigely Corporation. re-
ceives a salary. but he - also % the
head Of the Business Builders organi-
zation. which receives % per cent for
selling. securities. and also owns 30 PEI
cen; Of the common stock m The Piggy
Wiggly Corporation. A csrpful study
Of the literature prepared for the pur-
pose of selling Manhattan Piggy
Wiggly securities fails 20 reveal 10 Us
any facts which show whether the
Business Builders OF Manhattan Piggy
Wiggly Corporation or any other asso-
ciated entity has contract with the
Piggly Wiggly Corporation Of Mem
phis l;he parent company. which. for
the use Of its patents and goodwill.
receives one-haif of per cert on gross
sales 20 open in the East D. 600 stores
or any other given number IN any lin
tied space Of time and whether u such
an agreement exists any penalties are
leviable for failure 20 KEEP up 10 such
a schedule
n you intend 20 speculate in the
Manhattan Piggy Miggiy securities W.
suggest that you have this point cleared
W and II you g.. am definite data on
the subject that would be useful wc
SHOULD be grateful 90 you u sou would
advise uf. We. of course. 90 not rec
ommend the securities " the Nnnhst
tan PIGGY Wiggly Corporation Tor in
vestment and do not uggrst tho pur-
Chase OF the securities Tor any purpo p
whatsoever unless financial information
OF the type TO which wc have called
your attention is forthcoming
Occasionally you might ind u prohi-
able 20 buy q ca bob bag, but too many
sound proposition which give full pub
LEFTY 20 safnings and other relevant
financial facts. are available % maze
10 wise. in oar opinion, 90 buy ecuri-
ties Of companies that maintain secrecy
IN thcee matters. 10 Ditr me fact
that 80 hay. been in rising stock
market since August. 1921. broadly
sp,akinG. we do not know Of any securi-
ties which the Business Builders have
sold which have. during This period. rn-
HANGED substantially in market value.
We do know. however. or several COM
panies whose securities are nov selling
In the open market AZ prices FAR be-
low those a. which they we're originally
marketed b. the erthusiastic. hope
stimulating and persuasive salesmcn Of
the Business Bullcers.
You understand. OF course, that We
are not attempting 20 forecast the
future market worth Of the Manhattan
Pigrly Wiggiy CORPORATION shares. We
eonfne our advice 90 statements based
on know present and past facts and
mnst refrain from forctclling the
future.
New-York tribune., 1922-08-13
Rn,nl Dutch sneculatiyc

Ouerfion-f have been holding SO
Juno . 100 shares Royal Dutch ~ N~"
York. costing - one rcd~eming feafur-
In Us decline has been The paying VI
secs dlyldend. Lately some papers puo.
ushed tae dividend as ff13 per year and
others $50 Whi. n is correct. ana now
much has been paid 20 far 10 this year
Would BE- pleased fo have your views ana
opinions Of the COMPANY and your idea a..
10 holding the stock have ~ pfNre
- points. o. should sar. covered 10 ~
- , -.
Answer Payments made on Royal
Dutch New York shares amounted 70
S8.64 in 1921, and 90 FAR this year
SiS24 was paid on February l ana
S2O65 was paid on August !. As divi-
dend distributions made sn 1921 are
paid for 1920" and distributions in
the current year are paid for 1921 u
is partially owing 70 the com
panys method Of describing the
application Of the dividend pay
ment that causes differing calculation
in statements Of :he rate paid. Your
interest in the stock Of this company
is speculative one, and We cannot az
press an opinion as 70 what the future
course OF prices will be.
New-York tribune., 1922-08-13
Success Mining Stock

ouestion-whars behind Success Min
ing Company few years ago oons !.
100 shares OF the sbove-named stock AZ
az cents per share and have never re-
ceived any dividends on same. About
year or 20 ago 10 was quoted AZ ! cent
share. and in yesterdays Tribune II was
quoted as high a. 80 cents share. Wnat
IL behind III Had 7 better sell the stock
or keep TIP. II. l.
Answer-It is possible that mani pu-
lation is what lies principally behind
Success Mining stock. You may OF may
not be aware that this stock was as
sessed cent a share last year, and
those who did not elect 20 pay that
assessment have a certificate Of stock
that is worthless. II the eertiheate
you hold is not in your name you
probably did not receive a notice Of
the assessment and were automatically
closed out. We suggest that you sell
your stoek--if you ean-snd leave
mining stocks alone.
New-York tribune., 1922-08-13


A a matter OF fact. We do not know
what you have IN mind when you say
fair, speculative investment An in
vestmer;. in the strict sense in which
we use the term involves primarily
safety Of principal and regularity Of
income. A speculation, on the other
hand. involves the assumption Of
greater risk in the hope of larger
profits. Il is true that we frequently
ind a speculative tinge in certain in
vestment issues. We refer 10 securi-
ties Of this character as business mems
investments, meaning that they are
suitable for one able TO keep IN touch
with general business conditions and
with the earnings Of the company
whose securities are bought.
II you want a business mans invest
ment We suggest securities such as
General Motors and per cent deben-
ture shares. Standard Gas and Electric
preferred, 81. Louis-San Francisco in
come Sc. Nire mia Carolina Chemical
first mortgage : per cent bonds and a
whole misccllany Of securities which
arc frequently mentioned as Belonging
~ this class in the investment col
umns OF Tho Tribune.
You say that you are not dependent
on any part Of your income. which would
indicate that you would not need in
vestment issues at all. but could. II
you chose. purchase pure speculations
without suffering personal hardship in
case Of complete loss. The capacity 20
speculate successfully IS rare quail
ity, depending on an ability 10 read the
economic and financial signs shrewdly
and 10 make decisions quickly and act
upon them simultaneously.
Because OF the personal character o.
speculation We do not undertake 20 give
advice on speculation, since it would
be necessary 20 put definite time
limit on our opinion expressed regard
ing the future market worth OF shares.
even II 10 were possible for us intclli-
gently to predict prices quality o.
clairvoyance which. incidentally We do
not claim 10 possess
The securities which are being sold
by James ". Eiliott's Business Build-
ers. Inc. in connection with IN" pro-
motion OF the Manhattan Piggy Niggy
Corporation are OF course. speculative G
in our opinion. As we have pointed out
before. their future worth depends upoa
the ability Of James ". Elliott, whose
experience in the grocery business if
extremely limited. 20 create and main
tain q chain Of self-seryice grocery
stores in the East which can compete
successfully iu highly competitive
field with the chains already firmly
rooted in the life Of the cOmmunities.
II you should take an Affirmative
view OF the speculation you must stili
bear in mind that the securities are
not marketable and that. for time at
least. you might have great difficulty
in taking prohts should any accrue. II
We were going % speculate m the
shares OF any com pauy We should hrst
want 20 sec the balance sheet. income
account, and in q case ike this state
New-York tribune., 1922-08-13
R.vere Motor Stock

on..,fon-Wli YOU kindiy give m, 8.
,, f.rmatiou possible. past and present "'
lie Revere Motor car Corporation
& &. G.
Answer-The Revere Motor Car Cor
,oration. located a. Logansport, mo"
made its first offering Of 5OO.OOO snares
of stock at a par value Of SO share
pf,,r,oy,i5ence. AZ $3.50 a share in jan
uarv. 1920. Receiver for the company pI,
was appointed in February. 1927: Inls
companv was succeeded By the Revere
Corporation in July. 1921. We are un-
sble 10 obtain a market for, the stoG.
Of this company. You might eonsui.
the brokers mentioned. We nave TO- n1'
heard any rumor to the effect that this !hs
rompanv would become part OF 'ne
Durant Motors Corporation.
New-York tribune., 1922-08-13
What the Public Should Know

0"e'oH hove bee" advised by
tsa preferred eerif poVHs spseu-
are 'arefmer not wh ToHd Sdse' dp,rd
part Of ineome-P A.
Answer-four inquiry presents different
usually regarding the stock sold by Jane. Fos
Business Builders Inc Ordinarily
OF the Manhattan Pegy Wiggy Corporation
companies which Business Builders marketed are safe
sound
To those inquiries have uniformly replied negative partcu
ary Of the with which
cates have been connected with the exception Motors
longer being marketed by paid share
holders When whether bearing certificates which
will from three five Manhattan Pggy
Piggy Wggy preferred shares speculative investment YOU an
New-York tribune., 1922-08-13
value Of MarkeiAbIllty

Question - III. writer and friends have
several thousand dollars Tor Investment
We have hersltri ~ your adFicf b~fnfs
and should b Eisd 20 hear your os.nlon
tric. American Telephone and telegraph
Detroit Edison. brooklyn kfison common
cities Service preferred. chile Coppef and
Goodyear holhs Are securities u this
class suitable Tor Yssmanent Investment -
the saFirEs - Intelligent salafisd people
Please arrange them lr order ~ prcffrence.
adding Others % similar grade Narksi-
ability is % little value 20 us All the
above afr lffffl ru fhe exchange fEcepf
the clfirs Service. which. es understand.
ia readily IarhstatIf Please mention such
sscuritisH 20 less markstatnlfy Or the
present favorable time 10 sri short term
notes dle 1875 ant invest permanently Ir
la lt r~as1nablF fo b. expected that Dob lie
i-fioi before their maturity stock can -
purchased af lower prices The roier lfHH-
ably not nurfuatinr as much - stock tr
iong term bonds T. y
Anfwcr The sccur.,iea you mention
arc suitable for the capital OF active
investors Who keep in touch with the
affairs Of the companies whose sccur.-
ties they hold. By sacrificing market
ability % is possible 20 obtain a slightly
higher return. Good first mortgage
real estate bonds can be- obtained
20 Weld ca per cent II. IL.
recently quoted in. the outside mar
ket a. 90 20 o. Ward Baking
Company : per cent preferred sells
around los TO TO- McCrory stores 7
per cent preferred sells from ~ 70
l0i- There ere many other examples.
Such stocks are suitable for business
man. Whether if BE- more adv isable
. hold short-term bonds or place cap
ital in long-tcrm securities a. lower
interest rate is matter " opinion.
Some believe that bonds bearing a
low coupon rate can be- bought more
advantsgeously before they mature
than a. present. but that is specula-
tive question on which We cannot al
tempt 10 express an opinion.
New-York tribune., 1922-08-13
Would Increase Risk

gu-f ar kIldf lsf Us fuor Naa- I0u
think of the e rrr r-1f preferred sfora N
Tire N.wrnrf N-vs A Hampton Hallway.
Cas- aud Electric Company have be' o.
urrsd f0 b,i. th- same ln exchange Tor the
urr cent hundf ~ fhs Sfsnlara Gas aud
Electric Contrary srd should lifa tn know
~h-fhr- feu Ialnk .fF fp nr fn"u
hang w g.
Answer Although you would be-
weakening your investment position by
making the change suggested. II you
are .n position 70 keep in touch with
the raruirrs of the Newpor, News &
HAMPTON Railvsy Ga. & Electric Com
usny and can afford 20 assume the
additional risk you might earn the
additional per cent on your capital
bv this .gilance From strictly IN
vsstment viewpoint toe change is not
highly attractive
New-York tribune., 1922-08-13
Chinese Cotton Crop Short

Trade Commissioner Lansing W.
Howl. Shanghai. reports that a. re
suit CT on investigation b. the Chinese
Ccttor Mil Owners Association the
Chinose cotton crop for 1921 has been
recently estimated at l,tis,so0 bales
1one bale equals 500 pounds. The lat
est estimate for the 1920 ercp was
1873 900 bales, which indicates that
the present crop will be approximately
between $50, 900 and $4,000 bales short.
The Cotton Mill Owners Association
1921 estimate compares very closely
with a recent estimate Of 100000 long
tons submitted to the Textile Division
by Consul General Edwin s. Cunning
ham. However. these latest estimates
are considerably above earlier Ones
which placed the total Of the 1921 crop
AZ approximately i.i25,000 bales.
New-York tribune., 1922-08-13
Little for Stockhnld.r.

Ouestion--isn't q true that tho Interior.
ongh consolidated owns practically ail Of
me stock of the New York Raiiwavs com.
psny ana the Fifth Avenue Bus Company ?
~ thls II don't you consider tho hold
lnts In these two companies 10 be n,
some value, particularly ia view of recenf
ststements showing better financial posi-.
lions, etcf-c. j r
Answer-lt is true that the Inter.
borough Consolidated Corporation hs,
the assets you mention. but the holder,
OF lnterborough Metropolitan AZ per
cent bonds have a prior claim 70 thes.
assets and in a reeeivership sale there
'wiil not be anything left for the stock
holders.
New-York tribune., 1922-08-13
y G Steel At Al

ope.tlon-I have read your ariie.ss, es.l, Tr'. ,,,.
,,,,ch tntercst-so much ~ that l - 80
..I,ed 10 ask your advice IN my own -.
Pe,eu ~ o. several years owned tNeIse :
shares OF T. 8 steel eommon, ,has s,seK X might
al az II seems 20 me thav ,.oa, snd
t1v.s, 40 Il would bring me more ~
est. which much nssc T9s p1ie. SGfso" tbss viii
" ma -. y,ore and be equally saie 4.
sssrnot sfford 20 take any risk. Moo,' :.
re wiser 10 let u remain a.
H. y. J. =, -
Arswer-In general we should hesi-
- accommodating the sale Of semi
nv ;nvsstment stock that has treated its ~,
,nrso,''i n,r,er ss generously as United steel
common comm has treated you, taking INTO INTO
consiSeration its cost, but II you feel eel
that You would be better satisfied win y.
your YOU investment in higher grade Sc. Sc.
curity Atchison preferred WOULD meet
your requirements, in our opinion
New-York tribune., 1922-08-13
should Minimize Risk

Ql.stlor-I am - widow vifh fro -
PENDENT children and 10 Income 10 apc. y
of have Al hand 5000 90 invest ~
either stocks ur honda. which amount ]
vent fn invest % that if Yields the hithest
dividends with fhe least risA. kindly 40
eira M th- safest ard best Eaf 20 place
fhi. money have twelve shares ~
Amerlcan Teller hone and Telegraph pre-
ferr~d stock which ! houglt ~ par sna
which yield per cent. what do you think
81 thr safsfy of ffls stock ! have for
sonae time been Interested ln swift Co.
sfscx Welding about per cent bui have
not bought any ~ li f-annE t mishi not
=. r.f- enough kindly advise n- as %
fhe safety OF this Ftock-H t.
Answer-We do not believe Swift &
%. stock is suitable for your purpose.
when you Try 20 increase your 'eome
YOU run the risk OF cndangering your
principal. We would be inclined 70
select Public Service OF New Jersey
fciTcd.
New-York tribune., 1922-08-13
Mexican Tractor Imports

A Presidential decree recently signed
hut not vet officially published, extends
indefinitely the concession ior me Ih,
portntion Of tractors, motor trucks anu
gasoline into Mexico free Of duty says
A recent report 10 the Department OF
Commerce from Assistant Trade Con-
missioner Bushnell. Mexico City. rms
duty exemption was originally grantee a
in 1919 for a period OF six moths and
Temporarily extended at various IN
tervals. The present decree MAKES
.bis exemption permanent.