The Washington times., 1922-04-14
MONEY-TRADE|
A Bull On the u. s. A.
Investors Reward.
Hold Your Securities.
Still Better Times Ahead
BY GEORGE w. HINMAN.

CHICAGO. April 14.v-Good Friday
Is one Of the milestones In the ordi-
nary investors year. 1t is one Of
those market holidays from which
a man with securities looks back
ward to see what has happened TO
his money. and what the future pro.
mises.
OF course man can read the
market averages-twenty railroad
stocks thirteen points up and twenty
Industrial stocks fifteen points up
and let 1t go at that. But this does
not tell the story plainly.
Whittier are we going7 How is
the business of the country advanc-
ing? Should an investor have con-
fidence and stand by his invest
ments? Or should an investor lis
ten to the doubters and draw back7
Well. what has happened to a
man in the market who has had
confidence last Good Friday, has &C.
cepted the ups and downs calmly,
refused to be stampeded by the
prophets of calamity in Europe and
therefore in America, and has re.
tanned the solid securities that he
bought in good faith?
Some Good Gains.
In Allis-C Chalmers preferred he has
made 10 points; in American Car
Foundry, 3S points: In American
Telephone and Telegraph, 20 points:
in Anaconda, II points; In Baldwin.
2S points; In Bethlehem Steel, 81
points: in National Biscuit. 27 points;
in Peoples Gas, Al points; in United
States Steel. 16 points.
These securities have been picked
at random from the industrial lists
of a year ago and now. What does
the record mean2 Simply that the
investor who has had faith in this
nations business and has stood by,
not only has drawn dividends on
these securities, but has seen his In
vestment gain market value at the
rate of IL, 20, or even so or so per
cent in the last year.
There Is a lesson in those figures
for all weak hearts and doubling
minds. There Is a lesson also In the
figures regarding the railroad seouri-
ties. A holder OF Baltimore and Ohio
stock has seen his investment 90
up IL points; OF Delaware and Hud-
son. 81 points; of Lehigh Valley, IL
points; OF New York Central, 18
points, etc, etc. So, in the most dis
couraging field of present-day invest
ment, a man by merely sitting tight
and refusing TO be scared has been
able to profit from 81 200 to 2,100 on
hundred shares of any one of these
securities.
Security Prices RefIectors.
Security prices go up In advance
of business; that is familiar enough.
But at a time like this they do not
go UP unless business is coming
along. too. So the next Good Friday
holiday seems bound to bring another
set OF rewards TO the investors who
have faith. This is not a matter of
chance or good luck for this nation
and this. nations business.
1t has to be.
Ten or twelve years, at most, are
all that are needed to renew q
country's whole floating capital and
there Is no question here of putting
an exhausted nation like Italy or
even France on its feet. The new
accumulations that began three and
a half years ago are well under way.
They swell from month to month.
They are reflected In the growing
vitality and vigor OF Industry and
finance. Strikes may interfere, but
only temporarily with the rising tide.
There may still be $500 900 workers
idle, but fully 40,000.000 men and
women are still occupied. There
may be more than 100000 farmers
in distress, but more than $500, 900
are still strong and productive.
A country which has made the
record in the last year, or in the last
two years, in the recovery of it's In
dustrial securities and what they
stand for; which has exported ST.
300, 900, 900 in capital to other lands
in less than four years; which Ia
still lending to foreign governments
and industries scores of millions
every sixty days; and which yet Is
gathering wealth for invest
ment in new business ventures ns
soon as these ventures find courage
and opportunity to go ahead. such
country holds out to investors a
prospect for better things for at least
several years to come.
Seeing is believeing. Even an in
vestor from Missouri should begin
to be convinced.
----~A, ~-D-D,Ir- MAMA