New-York tribune., 1922-04-10
Holds Strong Security Lat

ouestion-Will you kindly snare me ,
81" e,"inl !, moments omen OF your valuable time by
my mothers holdings. She ia a widow in her
sdsIy SIXTIES, and depends upon the Income
.yer .ver'Veh .h f0r her support and living How
IS ample In fact she has been ssyinr
about $1,000 a year from same and invest
,.e tre u from time to time As you will see
~ ON the inclosed list. there are few
holdings that have been affectoI hv ths
psslhess depression Of the last wear and I
am or the opinion that her list needs some
revision. 1t is my opinion that 1t would he
wlss TO dispose OF some OF the foreign GOV
ernment bonds. such as the French Is and
saS' ,a' 1our of the Swedish SIS, together with
ferred and International Mercantile Marina
preierred The question that arises as to the
.atter 49, Is the principal In danger, conugh
ptIa,'Ve at present? From tho informa-
tlon given above YOU can see that my
o'ner OF ineonne rs not IN need Of the last dollar"
10 take the loss Of principal unless 1t is
necessary. However she will be guided
pg your GOOD advice and requests me to
ask that you kindly make thorough ex-
animation from all points of investment
science and list other issues more in line
!ce)s Two Western Union Teegraph 6Ls
1885 two American Telephone and TeIe-
graph collateral 5s, 1916; ono 1nterboro
ri map1d no Transit 5s l96s; one Bell Telephone
Light and Power rs. 1850; ono Ducuesne
Light Us, 1919; two Puget Sound Power
and Light 7ias, 1941: two New York Edi-
son eHas. 1881; (industrlals5: Two General
Motors Building Corporation rs. 1e41: Two
nhaconda Copper rs. 1929; two Western
Eiectric 5,eri convertible is, 1929: one General
Two Canadian National Railways (Grand
frunk1 o Ss' 1895; two Chicago Union Station
ozss' dSe"; two Great Northern Railway
United Kingdom Of Great Britain SIS.
l33'' hve Swedish government 6s. 1859:
1919; two City OF Copenhagen 5las 1914;
900 francs Republic of France (Vic) S.
192$ stocks (preferred): Forty shares
shares Union Pacific Railroad 4s, ten
shares Liggett & Myers Tobacco -. ten
shares American Sugar Refining Co. 7s ten
6s; 'common) Ten shares S X. r. In
l92122 divdends), Ave shares southern
PaH'ho PaHd rS IS; m9rtsaes lal suaranteed by
Cctober 1922: S12.500, due April. 1928;
$1,000. due 1924; $4,000, due 1925-J L. c.
Answer-We wish to compliment you
or whoever planned this investment.
1t is as free of Objectionable features
as any list we have studied in a long
time. You have pointed out the weak
spots yourself and you have suggested
viz PAcPSh SOui oC lO1 youI HlOCHcC 10
pursue. We would say that these
weak spots comprise so small a portion
of the total investment that they need
not cause any particular worry. The
worst of the shipping slump and of the
sugar depression apparently is over
and we feel that, inasmuch as the
owner of Marine preferred and Amer
lean Sugar preferred is able to save
out of her income from securities she
can we'll afford to wait for these stocks
to recover. We do not think a sacrifice
of income is necessary. The only Sc
curity that we would hcstat te about
keeping is the Interborough 5s. For
the same reason as cited in the case of
Sugar and Marine preferred, we would
not strongly urge the sale Of this bond,
but if it is going to save your mother
undue worry the clearing away of this
weak spot might be the best step for
you to take. We think the Swedish
Government 6s are good investment
and would hesitate to disturh thpm