Judge — February 17, 1923 — page 26: what you’re looking at

Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.

7 | Investment Bureau COLLATERAL BANKERS INC. How to Obtain 7% Plus Profit Sharing Buy this Debenture Bond which carries corresponding Certificate of Profit Shar- ing, entitling you to your pro rata share of at least One-Third of Net Profits in addition to 7% Bond Interest. Price Par ($100). $1,000, $500, $100 pieces. Profit Sharing of 1% Paid September, 1922 Another Hodson Enterprise with similar connections has paid its bondholders a total of 89149¢ in interest and profit sharing in less than 9 years. Purchase Collateral Bankers Bonds to-day and benefit now by the very good present yield. You may anticipate increased profit sharing as the company attains its full earning power. Use Coupon below Clarence Hodson 6 ABLISHED 1893 == INC SPECIALIZE IN SOUND BONDS YIELDING ABOVE THE AVERAGE 135 Broadway New York Send me Descriptive Circular M-201 A ceed 1923 Edition Statistical Book Contains latest statistical information in condensed form on all issues listed on the New York, Chicago, Philadelphia, Boston and Pittsburgh Stock Ex- changes, New York Curb and other leading ex- changes in United States and Canada. It gives high and low prices for each month of the entire year of 1922, latest earnings, capitaliza- tions, properties, ticker abbreviations and other important data. Ask for J. U. 635 Free on request ESTABLISHED 1901 HARVEYAWILLISS (0 Members Consolidated Stock Exchange of N.Y. 32 Broadway New York Phone Broad 5360 Optown Philadelphia Newark M7E 60% St 20S0.15%St. 169 Market St. Direct Private Wires Conducted by Theodore Williams Subscribers to Juvae are entitled to answers to inquiries on financial questions, and in emergencies to answer by tele | graph. No charge is made for this service | should always be inclosed. Jull name and ezact street address {ll communications are treated Address all inquiries to the Financial Editor, J 2 Anonymous communications will in no case be answered. onfidentially. A tieo-cent postage stam 7 Weat §3d St New York, giciny The Ruhr Exploit’s Economie Etfects | HAT event of world-wide interest, the seizure of the Ruhr by France, naturally had important economic \effects. It deranged and paralyzed the industries of the district for the time being. The coal miners, the railroad em- ployees and other workers struck, patri- otically facing idleness and want rather | than to submit to the dictation of the in- vaders. A blow also was dealt to the | productiveness of the country in general. Many industrial establishments outside of the occupied area had to curtail oper tions owing to the cutting off of ¢ supplies needed from the Ruhr. This course, involved reduced outputs of prod- Jucts, lessened employment, — lowered wages and more or less distress. Large orders given companies in the Ruhr for coal, steel, ete., could not be filled and had to be cancelled. Certainly, France put the brakes down hard on the wh jof German production. That hardly made Germany better able to pay her ion dues, but France intends to collect them in her own summary way. suffered _Her ex- {YRANCE, as well as Germany, some immediate detriment. penses in the Ruhr are he tween the two countrie: | presumably to the profit of | probably will considerably decrease. | France expects to recoup herself even- It is said that she hopes by ex- ploiting the resources of the Ruhr to become one of the greatest of industrial |powers. This does not imply an inten- |tion to surrender her grip on the region in the near future. It is stated that she will hold on to it at least two years. If she means to keep it in her possession —_per- | manently Ger- | man, possibil- | ities of prosperity | will have become greatly de- creased, Her ity to carry commerce | with foreign na- |tions will hav | reached the mini- mum and __ her outlook will be dark indeed. The rest of the world will be deprived of a once excel- lent market, for she will not be able to buy a tithe of her former im- ports. Fra may not find it so easy to carry out J “No! orders from anybody!” 24 From now on I’m taking no more If she should meet with a k of some kind—the Teutons t gift for creating trouble her financial credit. would. suffer. She will be very fortunate should she safely past ‘all the snags that lie_in the her plans. smart set have a g steer it is to be hoped that nothing will occur in the Ruhr to strengthen the late ax Nordau’s prediction, that the World . no matter who might win, would result in “the utter destruction of Europe.” It may not be too late even now to persuade France to adopt a less imperious, not to say imperialistic, course than she has been pursuing. If he finds that affairs are not proceeding so smooth as he blithly anticipated, Premier Poin- ci may be willing to heed the counsel of less aggressive statesmen, ‘0 FAR some nations have benefited by Germany's plight. The orders the Ruhr could not fill have gone to other lands and the United States will doubtless get her share of these and of additional ones in the days to come. This may, however, be only a temporary gain, which we might better forego for the sake of peace in Europe. The Ruhr move has d to European unrest, and Secretary Hoover says that disturbed conditions abroad are the only handicap to trade revival here. The only slightly ident. Trading prices did not decline seriously, ex- cept in’ special instances, where other causes Were more potent. Stocks are said to be strong hands which can make effect- ive resistance to any drive for a marked reces- sion. Dealings have been largely professional and the public has been holding off, ing a clearer insight into the trend of If condi come little or no worse sound se- curities may y be bought outright. — But there is not much to warrant short- pull speculation, and long pulls should not be purchased on margin unless it be ample, securities market influenced by the duller, — but was Ruhr was good