Judge — May 5, 1923 — page 30: what you’re looking at

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

What More DoYouWant Than 7'2 to 8%? Miller First Mortgage Bonds paying up to 8% interest, represent the two things which every investor seeks—safety and liberal income. Every dollar which the investor puts into Miller Bonds pays for these two desirable qualities, and for nothing else. Many securities, offering the same degree of safety as Miller Bonds, pay 1°; or 2% less interest, be- cause a part of the investor’s money goes to pay for qualities which he does not need and does not really want. What these qualities are is fully ex- in our circular, “Buying What You Don't Mail the coupon for a free copy. G.L.Miller BOND & MORTGAGE Company Florida's Oldest First Mortgage Bond House 205 Miller Building Miami, Florida G. L. MILLER BOND & MORTGAGE COMPANY 205 Miller Building, Miami, Florida ‘nd me the circular “Buying What and recommend a good investment aturing In about years. (These a filled in, but they help us to give the Investor personal attention.) Name. Address City and State SERVICE The Investment Bureau contains sound, conservative, helpful information and advice about financial matters. Why not consult it about your investments? Short Sales We have available for distribution a booklet that completely de- scribes the mechanism and operation of short sales. Ask for J. U. 705 Free on request ESTABLISHED 1901 HARVEYAWILLIS8&(O. Members Consolidated Stock Exchange of NY. 32 Broadway - New York Phone Broad 5360 Uptown Philadetphia Newark HTE06% St. 2050.159 St. 169 Market St. Direct Private Wires INVESTMENT BUREAU Subscribers to Jenar are entitled to an- avers to inquiries on financial questions, and in emergencies to answer by telegraph. charge 1s made for this service. No All com munications are treated confidentially. A heorcent postage stamp should alvaye be inclosed. Address all inquiries to the F nancial Editor, Junar, 627 Weat 43d New York, giring full name and ezact a eddress, Anonymous communications will in no case be answered. Reports of the Corporations by Theodore Williams HE ANNUAL reports for 1922, as they have been straggling out from the various corporations, have not. in general been highly satisfactory. Many of them disclose large deficits for the year and only a small proportion show fully recovered prosperity. A consider- able number make a good showing in view of all the circumstances, and nearly all are optimistic as to the future. It is plain that, despite strikes, increased costs of production, lessened profits, and decreases of surplus in numerous indus- tries, there was a forward business tendency, an undertone of genuine strength. HE QUARTERLY reports for 1923 which have been coming out are. giving a brighter outlook to the economic situation. While the influence of the yearly reports on the securities market has been more or less adverse, there has been some counteraction in the first- quarter results and the promise of still better second-quarter statements. T! opposing forces made the fin: sea somewhat choppy and prices haw varied accordingly. But there is prospect now of stabler conditions, with the tr actions on the exchanges safer if less ting. Answers to Inquiries E., New Yon, N. ¥.:__ The fact that you have $25,000 avested in sound securities does not logically warrant r risking 85,000 on the highly speculative mention. Cheap oil and mining stocks su these give very little chance of profit to the buyer. They are the trash of the market, It would be far better to continue y ast safe policy of investing in issues of solid worth. ‘The best grade securities bought on reces- 28 a “S-s-s-sh, don’t make a sound, Mary—he’s fillin’ his fountain pen!” sions are more desirable from even the speculative point of view than the mass of low priced, untried non-dividend payers, G., denser Crry, N. du: Attention has been lately called in high financial quarters to alleged irregularities in the issue of municipal bonds in various parts of the try. Some of these issues are paying no_interest d their principal is said to be in danger. There is age in buying a tax exempt municipal bond h is also non-interest paying. You and should consult reliable bankers or brokers, oF fi visers, before purchasing this kind are many good municipal bonds. so far issued, are undoubtedly safe might be judged somewhat by the m: and the legal debt limi D., Provivesct, R. L.:_ It looks as if it may be 3 before the New Haven Railroad can be so rebabilitat to make it again a paying property ment now and then is not conclusi is too long a pull at present outlook to be the speculator. Yo 10 might be pu income produ having «ready market. could be held at til New Haven’s a mprovement The first lien and consolidated the United and are twenty-five years. They’ seem quite safe pany serves seventy-seven communities in Towa and Illinois with a population of over 600,000. The proceeds of the sale of the bonds are to go for additions ngs in 1922 were more sal Iteneak eh The bonds were Lover 6.2 per cent. The 8 per cent. cumulative al Gas & Electric ‘estment. The stock is non- exempt from normal Federal trial sections es. r J palcced stock, Class A, Corp. is callable. income tax. in Pennsylva nds are corporation serves indi poration in I dividend requirement. The tric Power Com: The first lien and fianapolis Water Co. re due March, 1953, bonds of’ th cent. interest IF INTERESTED IN BUSINESS AND FINANCE, keep informed by reading the Bache Re’ ten minute weekly summary of the busine financial situation. It focuses and currents of to-day and indicates thei nt to business men for three months, charge. “J. S. BACHE & CO. 42 Broadway New York City