Judge — March 31, 1923 — page 30: what you’re looking at

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and the opportunities it advantage © explained in b 20 Broad St., N. Buy This Security 'On Its 9-Year Record This seasoned Debenture Bond (issued in large or small denominations) carries Profit Sharing Bonus entitling holder to a | pro rata share of at least one-third of net profits, in addition to 6% bond interest. Original purchasers have been paid back 91% in Interest and Profit Sharing and still have 63 interest coupons and 16 years of profit sharing ahead of : i them; with return of bond principal | at maturity. . Business increased 50% last year. Assets over $5,000,000. i If you are interested in an investment i which pays you an income 6 times a year, use coupon belo Clarence Hodson = fb ESTABLISHED 1893 === INC, SPECIALIZE IN SOUND BONDS YIELDING ABOVE THE AVERAGE 135 Broadway New York Send me Descriptive Circular M.24 me . § Address THE STOCK MARKET | offers from time 1 all cash of the big Auc let L. Write WILLIAM H. HERBST Business established 1898 L IF INTERESTED IN BUSINESS AND FINANCE, formed by reading the Bache Rev weekly summary of the business and financial situation. It focuses and interprets currents of to-day and indicates their trend. Sent to business men for three months, without charge. keep i IS BACHE & CO. 42 Broadway New York City PARTIAL PAYMENTS The Best Way to Buy Good Securities on Convenient Terms Send for free Booklet L-25, which explains our plan and terms. James M. Leopold & Co. Established 1884 Members New York Stock Exchange 7 Wall Street New York | INVESTMENT BUREAU Subscribers to“Jepae are entitled to an- anvers to inquiries on financial questions, and in emergencies to answer by telegraph. No charge is made for this service. All com- munications are’ treated confidentially. A tieo-cent postage stamp should alicays be in~ closed. Address all inquiries to the Finan cial Editor, Sunae, 627 West 43d St, York, giving full name and exact address. Anonymous communications will in no case Good Things in Oil by Theodore Williams ad a tremendous ITHIN the 7 industry expansion, and it seems likely to show an even greater growth in the ming decade. There is no known limit to the earth’s content of petroleum. To forecast the exhaustion of this valuable | substance in. the course of a generation | or two has been a pastime with geolo- but their predictions have been confuted by new and rich oil pected places. Region rly being added to the sources of supply, and ast few years the oil gists, | regularly | discoveries in une’ after region is ye already prolific diminished production in the older fields is being more than made up in the latest Smackover and Venezuela are effective answer to the fore- boders. Alaska, the Arcties and Africa are promising large, and the drills of the wildcatters are certain to tap veins of liquid wealth in numberless parts of the globe. The future output of oil will be enor- mous as compared with that of to-day, but there probably will be no serious or lasting overproduction. The demand for petroleum and its products is destined to increase vastly and indefinitely. Al- most innumerable motor cars calling for gasoline and the extending use of oil as | fuel in this and other lands will of them- selves require huge amounts of the fluid, while its uses will be multiplied in the world’s various other enlarging indus- tries. It is evident that oil has come to stay as an important factor in the business of the nations, and that an important | bearing on the securi market. It | indicates that the issues of oil companies | are not mere transient affairs, but are to be permanent fixtures on the exchanges. reese are to-day thousands of organizations in the United St and the big majority of them are cheap stock, weak and unreliable, when not purely fraudulent. But there are not a | few corporations which have the strength and stability of the best class of indus- trials. Purchase of their stocks and bonds is reasonably safe because they are well managed, have extensive and increasing holdings and are earning and ig dividends which seem well assured, ninent among these are, of course, andard Oil organizations, a wonder- ful group of successful companies which have made satisfi returns to their stockholders for y years and bid fair to do so for a still longer period to One cannot go amiss in buying the shares of these flourishing concerns, Some of the independent | also have attained bigness and prosperity. “finds.” making oil tes come. 28 Cosden, n American (which ti has absorbed Mexican Petroleum), Sin- ‘lair, Pure Oil, and California Petroleim are well to the front and offer good oppor tunities to the investor. There speculative chances in the cases medium priced oil stocks, but here buyer should discriminate sharply, g: sound information and advice, and not b depend in forming his judgment on tips or casual market movements. The depression which existed s time in the oil industry appears have passed away for good. Prices of crude oil have been advancing in the different fields, adding substantially to the profits of the copious producers Companies which were able to store T tankfuls of oil when it was cheap at hold it for higher prices have made con- siderable sums. The outlook seems to be for still better prices for both erud and refined, which will doubtless he reflected in the quotations of the leading oil stocks. Th look like judicious purchases at present figures. Answers to Inquiries s & Cincinnati are not a f lied by the Union Gas atrolled by the f and the bonds seem re B., Curvetaxn, O. lien refi 5 Company, which is ¢ Gas & Electric Company, safe. Armour pfd and. the presi pany declares Better hold_y + 5s of 1946; United States Rubber first ref, 5s of 1947, and the 7 per cent. real estate first me bonds offered by GL. Miller & Co. nan & Co, Real estate bonds are not lis not fluctuate In any of the foregoing issues a might prudently invest $1,000, M., Troy, N. Y.: By the terms of the merger Bet hem Steel Corporation will exchange its stock for Mid ion of one share of Bethleh The exchang Midvale stock will ‘paid on ‘Bethlehem stock. m stock seem 5 Ppew ji viele will be The dividends Bethlet re ¢ joard Air Line 6s seem soe The road's condition has be tting a fine return on purch ‘ou would find it b If you sold at a sold in the nine ‘0 do better. Th Some think they may . Jounstown, Ps. 134 dividend basis, which mal price of about $24. [t is lai utlook is bright. White Oil € first nine me 9 Kirby Petre Companies. This. will m: But you had b t defer buying White ¢ Cy New Yous: The Independent Oil & Gas Ci panyis a consolidation of various oil interests a Okla. It was incorporated in 1919. ‘The « producer and has paid dividends, and th It is said intends to fix the dividend at $1.50 yearly has a considerable acreage produc stock was offered lately at 81542 5 'If the promised dividend is paid the stock ® be a fair purchase company docs not ary of any other zation. The stock or bor of a lon blished, ed dividend-paying pany would be preferable for a woman. Middle Stat Oil has paid $1.20 for y welling at a little ¢ Sil SMe Mitts wack os sa good yield on mai | ed. that’ the compan | y had a de fii be merged i Moyet H., Evaxsviti, Ivp.: The North An n Lig »mpany is paying dividends on pfd. the common. Its 6 per cent. bonds appear reasonal . Pa: American Writing Paper 6s . but may be safe. Central N. E. + are not de sirable even th aranteed by N. Y., N. R., which a } 3, Interborour Rapid Trans mp uubtless be cared for, interest and principal, but I would prefer the issues of companies in a better finan: condition, N. Y.,N. H. & H. Gs are not particular pretty well secured. Swift ness man's purchase Cove. Automoti Corporati id no divid 2. Un stock has are quote Both stock irgio is a fr growing company: which h yet. become a dividend Mowntoomeny, nt consist of « Aua.: Middle State Oil's surpl h alone. Most of it has been pr real estate and plants. In order to ob pansion purposes the company h res. L. & N. R. R. stock will be fter the stock sells “ex-stock dividend cash dividend rate is maintained, to sell additic pod purchs: “provided t comicbooks.com