davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15
Problem Of Beauest

CuesGon-Your investment Information
seems to me truly philanthropo work.
advice on our own problem We have
saved up in our lifetime 100000. It Is
invested safely now, but we are sixty
seven and sixty-two years old, my husba nd
$4,000 TO our two unmarried daughters
and an invalid eon' We have provided in
our Wills that the money should be used to
buy three annuities, in order that they.
taken Investments. The executors Of the
will are a lawyer "a personal friend!. an
unmarried aunt and our eldest son, who 10
a physician. l suppose they might receive
vision which am inclosing. but would
this plan be as safe as ours? ANY suEges-
ton YOU can give us would be most grate
fully received &C. B r.
Answer--Your problem is one that
should interest great many people.
It would seem that safeguarding ones
estate by either Of the methods you
suggest is sensible, particularly in this
dsy and age, when comparatively little
protection is given benefciaries in the
way Of understandable information as
to investments. There is probably
little difference in the return to annui-
tant in the event you create q trust
fund or annuity. The fact that your
son is an invalid would favor the trust
fund method, which preserves the
principal. Annuities return an, income
somewhat larger. but at the death OF
the annutant the payments cease. AZ
age thrty-fve a payment of $4,000
will return the annuitant about $3.50
year. We suggest you consult the
trust department of your bank.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15
Shouldn't Sell Because of Rise

Cuestion-Would ask YOU TO pass on thu
following bonds Now that the price In Up
would It be adv!sahle to hold or dispose
~ those bonds? French lis. Chile S.
1a.s: Detroit Edison IS, Steel and Tube Is
Wilson & co. AS. National Tube, new IS
sue by j. p Morgan Also have Liberty
bonds Would appreciate any lnforma-
tion---J j. G.
Answer--We would not advise you to
make any exchange unless there is a
more substantial reason for dong so
than a rise in price. If You aim to
acquire permanent investments we
would suggest. first, that you dispose
of the Detroit Edison 6s, If they are
the issue maturing in 1925. The Chile
S. do not fit in with q long term IN
vestment program. The Wilson & Go.
7l3s and Steel and Tube rs are callable
at any time and We suggest, therefore,
that you exchange them for some of
the non-callable bonds YOU see men
toned in this column daily. All these
suggestions are based on the assump-
ton that you want permanent invest.
ment. We repeat that bonds should
not be sold simply because they have
advanced in price. for in seeking a
substitute you could find no bond OF
equal rank that has not been moving
upward at the same time.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15
Mixed on Eastman Kodak

:. @uestion--You are gay off Read my
i"'ter again. | winh I could Ent $500 for
my stock YOU are talking about tho pre-
ferred.-W. r. H.
Answex- Referring to your original
inquiry. we find this;
PLEASE tell me what you know
about Eastman Kodak common stock.
has 1T ever paid any dividends?
what Is 1t worth in the market to-
day? | can't find it in the stock re-
ports"
Our answer, which you say is way
OF, follows: Eastman Kodak common
has paid regular dividend of 10 per
cent on its common stock for nearly
twenty years, in addition to which it
has paid extra dividends as follows:
1905, . per cent; 1906, IN per cent.
1907, 10 per cent; 1908. IS per cent :;
l9o9, 20 per cent; 1908. 80 per cent;
IVA, ~ per cent; 1915. so per cent,
l9l6- u. 40 per cent; 1918, 80 per cent !;
l3l"-2o. 30 per cent; 1921. % per cent
l922 to date. Is per cent. The stock
has par value of 500 and ia cur
rently quoted at $3.50 share" We
did not refer to the preferred stock,
which, although of the same par value.
se!ls tor about\ one-seycnth of the
price of the common stock IT is pos
Slble you refer to the $40 par value
common stock which the company pro
poses To issue in splitting UP tho old
common ten shares for one, and which
rs traded in on the New York curb
market OH a "whcn issued" basis at
about rs to II.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15

MAKING dlfeCt recommendations is
unsatisfactory business at best, for in
times of great speculative activity in
the stock market we find sensational
advances in stocks which apparently
have no prospects of becoming dividend
payers for years The investor who
buys common stocks or holds stocks
bought in the past will save himself
much worry by going on the assump-
tlon that there are hard times and
prosperous times ahead. He should
put himself in a frame of mind to &C
cept the low return. or absence of any
return, incident to hard times, and thus
avoid the temptation to sell out when
the purchase of stocks proves unprott-
able temporarily. Either do that or
keep away from stocks entirely.
The Anaconda Copper stock, half of
which you bought at 90, is selling now
around SO. We judge by the price
that you must have bought this sma1l
block in 1916, when the copper stocks
reached their peak. 1t has recovered
about % points from the low of 1920
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15
Speculation In Standard Oil.

~uest'on--} have IN stock now ton sh,r.
~ Ahlcrican Telephone and Teissra,,
en.p shares of Royal Dutch. ton shara.
ot Cana dian ractnc Would me e"1 Ire, ga
forn,a, zen more shares Standard on Of cali
,wDrh'a Would YOU advise me to INV thon, ,
M"' is Your opinion about the above r,er
uohed shares"-S. w "'o"
Answer-American Telephone and re,e.
graph aud Canadian Pacific stocks are
good Investments of their kind. in our
opinion. We believe that tho specu-
iat've element in Royal Dutch places
~ IN class below these two stocks
standard Oil of California stock is a
good investment, but you cannot over.
look the apparent fact that some part
OF the price you pay for this stock i,
q speculation on the prospect of q
higher rate of return. We have no in
formation that leadN US to believe that
IN increase in the dividend rate is
likely TO be voted in the near future
inc question we raise is whether Won
want to pay for an uncertain prospect
Az recent prices the return on mis-
stock was only 3ia per cent You
VIII lind the same situation in most
OF the Standard Oil stocks.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15
Holds Parents Trust Fund

upon Sbion my S se dep S1 ar u fcr
hs1r Of ,ha r am T rs1 Hav
after their death the trust fund Will be
como my property. am not bound by
tho strict Interpretations Of law. rcsuat
ing trust funds. Nevertheless desire the
utmost safety because. while am willing
to take chances myself. am unwilling 10
tx chances with funds in,rns,ed to me, ne
list were selected by me. with the oXoep-
ton of the san Francisco. would be
greatly obliged to YOU for critica anaiy ;,
change whicl, YOU would advise? The
trust fund: $500 St Louts-San Francisco
prior lien 49, series A. July l, 1850: s1,7oo
st. LouisSan Francisco adjustment Ga, Sc
rics A, July l. 1855; $4,000 St. Louis San
Francisco income SIS, series A. July I. 1860
vertible os, secured. April /, 1915; $1,000
Third Avenue Railway first and refundins
5o-year As, 1850; $1,000 Wilson 6, Co first
:5-year sinking fund os, series A. April l.,
1e4l $4,000 Colorado Industrial 3o-year
convertible IS. series 4. August /, 1884 :.
$1,000 Bethlehem steel first IS. May l.
1912; 81. 900 Northwestern Eel Telephone
Company IS, February i, 1874; $1,000 Great
Northern Railway Is. July l. 1886; $1,000
Western Union telegraph 6lzs, August /.
1896; $1,000 Northern Pacific Great North
ern s'ss. July !, 1886; $1,000 pactdo Gas 8:
Electric Co. IS, December /, 1874; $1,000
New York Edison 6l4s October l, 1871.
SIS. January !, l947; 800 Chilean govern
mont per cent loan. 1911; 400 Imperial
Chinese government per cent. 1911. Hu
Kuang Railway-H Il.
Answer-There are three bonds on
this list that do not qualify as suitable
investments for this purpose, even
when the subject is treated most lib
orally. These are the ST. Louis & San
Francisco income IS and adjustment
IS and the Chinese Railway SIS. We
class all these as investments suitable
for business man who can assume
some risk--the kind of investm ents
which you would be justified in buying
If this were your own money and not
trust fund. The others are suitable,
we believe, but the Wilson & Co. IS
and Chilean government sterling 5s
need watching. The three bonds first
mentioned assuredly do not meet Your
requirement Of utmost safety Our
advice is to correct the trust fund by
disposing Of these bonds and substi-
tuting therefor two railroad bonds OF
good grade and one foreign govern
ment bond in place Of the Chinese 5s.
After the fund has come into your
possession it will be time for. you to
take chances. United Kingdom hs,
1887; Canadian Northern Gas. 1916,
yielding about 51s per cent, and Penn
sylvania Railroad 6hs, 1885, yielding
about Sc per cent, would be suitable.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15
Worries Over Atlantic Refining

ouestion-Will You be good enough to
give mo your opinion OF the preferred
stock OF the Atlantic Refining Company
The last two reports have been so poor
mat. as can make a small profit at the
present price. 7 am in doubt whether IT
would not be we'll to dispose of my hold
Ing. Also, In case should sell my stock
would not the City OF Copenhagen 81, per
cent bonds be good substitute u. H. r
Answer-Therc is no reason for
worry about Atlantic Refining pre-
ferred stock. This company has been
conse rvatively managed for years and
has been building up substantial sur
plus out of which dividends on the pre-
ferred stock can be paid even in periods
when earnings are poor. If there is
any worrying to be done let the hold
ers Of the common stock do it, but you
may judge by the unwillingness of the
common stockholders to part with their
shares that no fear of reduction in
dividends is entertained. Our advice to
you is to keep your preferred stock and
stop worrying. We wish it were pos
sibe to speak as confidently to all in
vestors who seek advice through this
column.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15
Bought Bonds at Premium

stion--Inciosed you will please find
LIST Of bonds and railroad, securities
now mold. which Worc bought some time
ago Do you consider them a good in
Nestment? Would you advise mo to soil
any of tho bonds, also the two named
bond and mortgages at 81, per ceut and
pot worry about fluctuations of the mar
ket, which cannot afford to do2 The
list: -Four County of GreenVille S c. 4 i.
per cent bonds. due July j, 1925 two st.
Louis & Cairo first per cent bonds due
ponds. due 1927; two Buffalo, Rochester &.
Pittsburgh consolidated AZ per cent bonds
due 1851; four Ohio River Railroad gen
United Water Gas and Electric first 3 per
cent bonds due 1871: one Houston Home
sh e.srson zach o. d duo la$S also
and Northern Pacific Railroad.-A. A. Il.
AnsWer-At least two of the bonds
you bought at premium years ago are
now so near maturity that it is hardly
possible for them to recover completely
to your purchase price. The Mobile &
OHIO first 6s have only five years to,
run and we think it Improbable that
any one will be willing to pay as much
as 1l54 for them under the circum-
stances unless money becomes consid-
erably cheaper than it is at present.
We think this is an appropriate time
for exchanging the Mobile g. Ohio IS
for some good bond Of longer term and
suggest the Swedish government Gs,
1889, selling at about the same price
as your railroad bond. All your other
bonds are good investments and should
be left undisturbcd, in our opinion.
Your real problem lies in the DISPOSE
ton of the Great Northern and North
ern Pacific stocks. Your letter gives
no information on your financial CON,
dition and, therefore, we can make no
definite suggestion. The Northern
Pacific dividend has been reduced and
action on the Great Northern disburse-
ment has been held postponed until the
middle. of the year, the stock having
been declared on a semi-annual divi-
dend basis. We think the thing for
you to do is to write down these in
vestments to their present market price
and decide for yourself whether if you
had cash and not stocks you would
purchase guaranteed mortgage bonds
or invest in Northern Pacific and Great
Mort hern.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15

and the Improvement in the copper in
ouStry That has accompanied that re-
coVery is insignificant by comparison
with the benefits that may reasonably
be expected to accrue from general
revival of business.
Brooklyn Rapid Transit has advanced
more than 800 percent over the low
price of last year, and the tide of earn
ings turned only recently. These are
only two examples that may be taken
from your list of stocks.
We set them down to illustrate how
unsatisfactory it is to advise taking a
loss and putting funds in other stocks
"hicn give an immediate return, but
which, in the next period Of depres-
sion, may sink to the level of non-diyi-
dend payers. Our advice to you and
every one else in a similar position is
TO withdraw gradually from common
stocks unless you can afford to specu-
late. we consider your bonds suitable
ana think a widow would be much bet
ter on with all funds invested in high
grade bonds
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15
Strengthening Mothers List

Cuestion-My mother Is seventy;six years
three shares utica Chenango s suaque-
hanna VALLEY. guaranteed b. Delaware.
{: Ohio, Pittsburgh, Lake Eric & Western
Division bond; three shares New York
Central, $50 in interest department Of a
local national bank at per cent Both
sons are in good health and she is amply
protected by insurance on their lives She
desires advice concerning the roinvestrncnt
OF he $3.50 IN local bank proceeds of re
would b. able and slad to Assist in any
financial emergency which might arise.
Also think this small investment can be
strengthened by replacing the Baltimore &,
Ohio bond (Which can be sold at prodo
With an Industrial bond or preferred stock
your advice on this. II she were to sell
the New York Central stock she would
have to take quite a loss, which would
worry her. BeItsv. for psychological
reasons at least it will be best for her to
hold 1t. It seems to me that market abil-
ny need not be much Of factor in this
Investment. What is wanted is the best
income consistent with security such as the
conditions seem to demand. + am bust
ness man and In position to watch her
investment to a reasonable extsnt.--J. NJ
Answer-We do not think that an
exchange Of the Baltimore &, Ohio
bond for an industrial bond or pre-
fcrrcd stock is necessary in the inter
est of greater strength. This bond is,
in our opinion, entirely suited to your
mothers needs. AS for the bank &C
count of $3.50. the sum is too small for
any of the $1,000 bonds we think suit
able, and too largo for any Of the
$500 pieces. However, if only part of
it is put to work earning better in.
come than the per cent paid by the
bank good purpose will be served in
the purchase of $500 piece Of any of
the following bonds: Chicago Union
Station 6hs. 1868. selling recently to
yield about 51a per cent; General Elcc-
trio 6s, due 1910, yielding about 5 u per
cent; Swedish government IS, due 1899,
yielding about So per cent II market
ability is Of minor Importance a good
first mortgage real estate bond would
he salts fartorv
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15
Inquiries Should Be Signed

Inquiries addressed to this depart
ment are regarded as confidential, but
to show the writer's good faith all
should be signed and an address
should be inclosed for reply if the
answer is not considered of sufficient
interest for publication Letters from
the following are being held for identi-
fication. R. C. W, H. W, z. r. f., G.
F. K, T. o. c., ". J. T., tx Y Z.,'
NJ. V. r., F. R. H., H. L. NJ, Miss l.. w,
A. P. j., G. A. j., I. w, r. D. s., A. w.
S., H. E. P. A. G., B. w, J. S. c.. w. S.
R., "Anonymous,' S. A., L. l.. E., j. B.,
Z. G. and D. G..
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15
Fears He Bought Stolen Bonds

the following facts, IL the same is In the
rtnse of Your department. About a year
ego I purchased from a large bond house
some Chinese Restoration bonds upon the
recommendation OF their salesman. who
informed mo at that time, and which +
revenues collected by English bankers
would be used to pay the interest these
bonds. I purchased of these bonds, and
when they were offered to me for delivery
and refused same. This firm then suE
gestcd that leave them with the com
pany and they would collect the coupons
and mail me a check. which VAS agree
able. and they have since mailed me two
checks for coupons. This week, however.
have received q notice from this COM
stolen from a Russian bank by the govern
ment then in power. and that the Chinese
government will not pay the coupons on
certain numbers unless legal ownership can
be proven previous to a. date before which
these bonds belonged to me. Since have
never been in possession Of these bonds
I refuse to take the bonds II they
we're under these numbers, and Is the firm
who sold them to me legally and morally
holdable for these bonds so that I might
not be at loss through the above facts?
"A. n.
Answer--Your inquiry involves legal
questions which fall outside the scope
of The Tribune's investment informa-
ton department; 1t seems to US that
it is not expecting too much of the
bond house to prove title to the bonds
before delivering them to you, How
ever, that is a question which may
necessitate legal opinion. We suggest
that you discuss the matter with the
bond house in question and if you are
unable to obtain a satisfactory settle
ment, your next step might be to con.
suit an attorney.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15
Wants to Begin Saving

Queestion-Your advic. will be appre-
c,ated am twenty-nine years old mar
rled and have no children Ny incom.
this year will be 5000, and this income
should increase at the rate OF $500 per
annum for the next fifteen years. have
End carry $4,000 life insurance, which
plan TO increase in the near future own
no property, nor have any funds In
vested. have $4,000 on and. which
wish TO invest In ong-term securities with
maximum of safety. It 10 my plan to
convenient. so that in old aga will
have an income from my holdings. In
your opinion. how should invest this
s. 900, and what plan should I follow for
the future for the investment of a bout $500
d year HI. s. c.
Answer-You will get the right start
on a sound investment program by pur-
chasing one St Louis-San Francisco
prior lien 5, 1850, yielding about s
per cent; one Swedish government 6,
1889, yielding about 5a4 per cent, and
one Canadian Northern 61s, 1915,
Welding about 51e per cent. At recent
market prices these three bonds would
cost Just few dollars more than
$4,000. We suggest that you arrange
your savings program SO as to enable
you to purchase good preferred stocks
share by share until you have accumu
lated about ten shares of any one
stock. The matter of exchanging units
of five or ten shares for bonds or some
security which you may consider more
suitable is something you can take up
later,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15
Order Of Desirability

Questlon-Will you kindly favor long
time subscriber Of The Tribune with in
formation regarding tho following stocks
as Investments The American Telephone
and Telegraph Company. American Ice
preferred, Pure oil Company preferred.
BROOKLYN Edison Company. Pullman Com
Pany. Endicott johnson preferred Austin
Nichols & Co. preferred, Beech Nut Pack
ing Com pany. Do you regard tho above as
esfe Investments in, small amounts, and
II 80 In what order would YOU place
them a S to desirubity &C. W. G..
Answer-We believe that all these
stocks would be suitable. for invest
ment except the Beechnut Packing
Company. Austin Nichols preferred
should be rated AS business mans
investment. We would list the stocks
in the following order: American Tele-
phone and Telegraph, Endicott-J ohnson
Preferred American Ice preferred,
Brooklyn Edison, Pullman Company,
Pure Oil preferred, Austin Nichols pre-
ferred and Beechnut Packing.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15
investment Information

Qnest,ons Of general interest n ~.
.seo'e ~'u be Gnsmcrod in thi. mi.
h"'"' -, 'th'ch case only initiols min
oo nsod' Others will be onsweycd bu
ma"' address oil inquiries. inclos.
,Ho stamped. ADDRESSED enrelone :.
financial Editor. The Tribune TX
Nassau Street, New York Ctr
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-15
Exchanging S. o. Preferred

so Viuesio ,r,- gave mo some very good
changing third Llbertys which T hold
10. . seconds Unfortuhat cly I was iii at
.he time Your letter came and did not
tate, as there is only a very small dirfnr
ehce IN price, which would not cover con,
,hi MSS and income tax which 7 would
n NV, TO pay on a profit should have to
s SnTw Nov ! am asking again your
,aiued advice in regard to another mat.
,er | have 100 shares of Standard oil Of
New Jersey preferred which I bought al
w :, Ny bankers have advised me not to
I uown ~; as they think it VIII not be called
aioHeNer' 90 YOU not think 1t would be
money money In All-America Gables. Of Which hhi I
nuai report i learn sha res From their an
constantly constantly to surplus which might
nrst preferred and 100 shares of CHICAGO
Alton preferred, which came to me =.
r rnI' OF an estate have held them nearly
you think 1t would be we'll Tor me to sell
mem now and invest the money in good
bankers and hold them a while Longer in
me hope Of getting something like what
shares cost Of NJ Ncw faW VIZ also have 100
bought at about S. Would You ADVISE mo
20 sen that and buy Atchson preferred
per cent notes, due In September ana
would like to invest $4,000 or $4,000 Of tha
Iro,,,1 in ong-term bonds. What
public henefactor for the sound, consery
a'iNe advice YOU are giving small invest
airs. Miss L. 7. S.
Answer-We have no inside infor-
nation that would lead to a definite
opinion that the Standard Oil COMPANY
OF New Jersey preferred stock will be
called at 115 at an early date. If YOUR
banker knows anything definite on this
subject, we believe you should follow
hsi advice. We have gone no further
than to point out to investors the pos
slblllty of the stock being called. We
consider All America Cables stock
good investment. The question of SELL
ing or holding Erie first preferred and
Chicago Alton preferred is a per
sonal one, the answer to which will
depend on circumstances with which
you are more familiar than we. Both
these stocks have had substantial rise
in recent months. Erie on the strength
of 1921 earnings statement and I'M
provement in current income, and Chi
cago & Alton for the very good reason
that the position of the company has
taken turn for the better. Making
definite recommendations in matter
of this kind is unsatisfactory business
at best. We feel that we are not justi-
fed in going further than to suggest
that the change in position of these
two roads furnished reason for
greater optimism than has been just-
fed in long time. A switch from
New York Central to Atchison pre-
ferred would strengthen your position
materially. We suggest for your new
investment capital any of the follow
ing bonds: Canadian Northern 611s,
1916, selling recently to yield about 8 u
per cent; Missouri, Kansas & Texas
prior lien 5s, 1862, yielding about 6
per cent; United States Rubber IS,
1947, yielding about So per cent.