Judge — April 7, 1923 — page 26: what you’re looking at

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

Invest where you can get a good rate By looking at this little map, you will see that first mortgage investments on Florida property pay 719% or 8%, which is 1‘¢ or 2°% more than most other parts of the country offer. What is the reason? Where money is plentiful, as in the big cities of the North and East, first mortgage investments pay a lower rate than’ in other sections, even when the security and the assurance of safety are the same in both cases. Geography has a great deal to do with investments, and our customers all over the country are finding that they can get a better rate by invest ing in Miller First Mortgage Bonds. These bonds, secured by income-earning properties in Florida cities, have an unbroken safety record. Mail the coupon for an interesting leaflet called “Invest by the Map,” which shows how to get the best return obtainable with safety. G.L.Miller BOND & MORTGAGE Company Florida's Oldest First Mortgage Bond House Miami, Florida To. L. MILLER BOND & | MORTGAGE COMPANY 204 Miller Bldg., Miami, Florida . | Dear Sirs: Ple mt obiization. | your folder calle which shows to Ket 15% 1 State SERVICE The Investment Bureau contains sound, conservative, helpful information and advice about financial matters. Why not consult it about your investments? Statistical Book A 288-page book containing valuable statistics and infor- mation in condensed form on issues listed on the leading exchanges in the United States and Canada. It contains high and low prices, earnings, dividends, capitalizations, Properties, ticker abbreviations, and other important data. Ask for J. U. 675 Free on request ESTABLISHED 1901 HARVEYAWILLISS ©. Members Consolidated Stock Exchange of NY 32 Broadway - New York Phone Broad S360 Uptown Patladelphia Newark M7E 66° St. 2050.15 St. 169 market St Direct Private Wires | specul | into |some hopeful broker |ground t NVESTMENT BUREAU Subseribere to Jupar are entitled to an- awers to inquiries on financial questions, and in emergencies to anewer by telegraph. No charge 1 made for this sercice. All com- munications aré treated confidentially. A two-cent postage stamp should alwaye be inclosed. Address all inquiries to the Fi nancial Editor, Jevax, 627 Weat 43d St., New York, gieing full name and exact street address. Anonymous communications will in no case be answered. * |Good Outlook for the Coppers by Theodore Williams T IS A MATTER of general interest and satisfaction whe ading indus- try rises from a depressed condition }and becomes flourishing once more. Such a change for the better, long de- ayed, has lately occurred in the case of Jcopper mining, with promise of benefit | to the entire country | The red metal was in immense demand |during the World War for military use, and its price would probably, if not int red far above the twenty-three cent level fixed for it by our Government. The copper companies did not profiteer to the extent that some other industrial organizations did. After the Armistice, copper requirements fell f amazingly; there was an excessive surplus on hand, and the metal became a drug in the market, quotations getting below twelve cents’ per pound. This made profitable operation impossible for |the majority of the producers and the mines of most of them—even the largest —had to be closed and dividends sus- pend ra long time very few com- panies yielded returns on their stocks and those which did cut the rates. Copper securities inevitably suffered; big slumps in values were recorded and issues of |that sort were considered as_ te ions to be desirable. They s ivity, except when occasionally ttempted, with but At last, coppers” slight success, to bo predictions of an ad were no longer regarded seriously. Byer net long ago, conditions unde went a radical change. It was dis- covered that supplies of copper in storage had markedly declined, that demand from nsumers was increasing with the improvement in general business, and that a shortage of the product was threatened. The competition of _pur- sers caused copper to advance quickly above seventeen cents, with the poss bility of mounting to twenty cents in the course of a few months. These brighten- ing prospects impelled the reopening of the mines, and now the industry is well headed toward its normal state. The confidence of producers in the future is shown in Anaconda’s acquiring control of Chile and Kennecott’s enlarging its hold on Utah, Kennecott and Anaconda resumed payment of dividends and ‘tah has increased its dividend from two dollars to four dollars. The com which are still non-dividend paye covering so fast that they are expected before long to gladden their stockholders. AS A CONSEQUENCE of all this, copper +% stocks have regained much of the y lost in their darker days, 24 and it seems possible that they will a become the favorites of big following investors and speculators. ‘This will be inadvisable provided buyers exer judgment and discrimination. ‘Ti considerable degree the market already discounted the outlook for coppers, and until the majors pa liberal dividends and the minors resi payments, they will not rank among most attractive investments or specilu- tions. If production expands and lue of copper enhances, there will doubtedly be appreciations in the eo issues. They will probably follow son- closely’ the course of trade, lage when the metal market is dull and firm up when it is brisk. The lesser c porations’ shares are not so likely to give the best opportunities to purchasers, | eventually the issues of the major ganizations may be classed with the m eritorious of the industrials. Answers to Inquiries R., Brooxtry, N.Y: As Hudson Motors is pay dividend and American Beet Sugar makes no returt better buy at present would be Hudson Mc J., Autos, Tut: The Memphis Power & Li pany firs mortgage 5 per cent. gold bon mature anuary, 1948, and have a good invest quality. The company will own and operate all on electric generating facilitie ding territory and will also do the « Net earning interest requirement rty is under th bout 5.8 per cent. sternal loan 30-year sink 1 bonds of the Republic of « 1 were issued with the nt-under provision « The bonds t redeemable for twe fund, are pt from ¢ ions of the Republic and tom: d other revenues. ng Amer bankers at ay per cent I do not advise purchase of buyer | margin i in the mar long pull, fund 5! aggregate &: the United t f 1903, es, are direct. obl secured by certain « were dist to yield over Cue f the most shi ntry. Mercantile Mo: a speculation but has redo nd to 83 per year and that is sured. A depen c Anyhow, pect q stock, A & Leather pfd., selling 74, with arrears of $125 to be cared for, with increas arnings and with a prospect of resumption of 7 1 divi . looks like a remarkably good specul purcha pull IF INTERESTED IN BUSINESS AND FINANCE, reading the Bache Review, 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 informed by ten minute weekly i J. S. BACHE & CO. 42 Broadway New York City 25 YEARS’ EXPERIENCE Recommends this investing OPPORTUNITY nd ban! factu lutionize tt electric entire Owing to an inc expansion progr: of stock is offered and unusual opportunity Write Department C for particulars WM. H. HERBST 20 Broad Street New York City comicbooks.com