Judge — January 5, 1924 — page 28: what you’re looking at

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

To investors: At least one New York newspaper has recently printed a communication asking for information about an investment book called “THE VERDICT OF THIRTY BANKERS.” This book was published by the Columbia Mortgage Company some time ago and is now being distrib- uted to investors gratis, on request. It contains the results of a nation-wide in- vestigation of First Mort- gage Real Estate Bonds. It contains also some un- usual letters from owners of Columbia Bonds, as well as a chart for the scientific handling of incomes. Regardless of the size of your investments, you should have a copy of this valuable and interesting book. Just mail the coupon below. CotumsBiA Mortcace Company Columbia Mortgage Company Building 4 EAST 43RD STREET, NEW YorK City -----—-~ For Mailing ~------- COLUMBIA MORTGAGE COMPANY 4 East 43rd St., New York City Gentlemens Please send a free copy of your new k “The Verdict of Thirty Bankers.” 1-K-214 Name. Street City and State IF INTERESTED IN BUSINESS AND FINANCE, J. S. BACHE & CO. 42 Broadway New York City INVESTMENT BUREAU Subscribers to Juvar are entitled to_an- wera to inquiries on financial questions, and in emergencies to answer by telegraph. No charge is made for this rice. All communications are treated confidentially. A tieo-cent postage stamp should aliays inclosed, Address all inquirics to the Fi- nancial Editor, Juoae, 627 West 43d St., New York, giving full name and ezact street addrexs. Anonymous communications will in no case be answered. At Least a “Bull Calf” Market by Theodore Williams ccorDING to an observer of long experience, the present not a bear nor a major or full-sized bull market, but one which may be classed as a “bull calf” market. The calf may not grow to adult proportions, or it may be- come one of the biggest animals of its kind. As to when this matter will be decided, the observer is somewhat un- certain. fluenced by the day-to-day change: tone and quotations, for halts and re sions frequently occur in the midst of a pronounced bullish trend. He is con- vinced that the underlying conditions are sound enough to warrant a considerable advance in prices of the more prominent issues. But he feels there is so much caution prevalent that a strong upward movement may not begin while Congress shall be in session, and perhaps not until a reliable forecast is possible of the result of the Presidential election. His judgment is not much in- in N THE MAIN this conservative analysis of the situation appears to be well rea- soned. Time, events and the course of trade are to determine the procedure of the securities market. Nevertheless, con- structive movements are on foot whic may have large effects, and the optimistic w seems even now the safer one to hold. We may have to undergo the strain of a long pull, but unless radically unfavorable circumstances develop, we may count on a moderate degree of business expansion and prosperity, with a duly responsive stock market. The cutting of a few dividends AT THE MOTOR SHOW Salesman—How’s that car behaving that I sold you last year? | Owner—Well, the way it uses gas shows that, while it may be weak in spots, its appetite’s all right!—London Opinion. and the passing of some others are very slight offsets to the increasing number of new, resumed, higher and extra dividends that are being declared. ‘The significance of one or two adverse factors is often overestimated, while many good factors more or less spottiness in Not all enterprises can_pos- sibly succeed equally and alike. Earn- ings of even the most prosperous concerns will vary from time to time. But the general outlook is not materially altered by such particulars. Business and securi- ties may in the mass be regarded from a hopeful standpoint. Apparently nothing can reverse the general progress except an economic earthquake. And this no sane looker-on expects. Answers to Inquiries C., Pumapeurma, Pa.: The recent advances in Erie R. R. issues were exp in various ways. The best reason for the rise in value of the stocks and bonds was the better earnings of the system. Reinforcing these there were rum ratrol of the railroad by a prominent the syndicate that has acquired the Nickel Plate and Chesapeake and Ohio, and by the Brotherhood of Locomotive Engineers. Whether the effect of these factors on prices has not been fully discounted remains to be seen. ., Prrrsnonag, Pa: 7! i mulative 7 issue of . Ist pfd. stock of the c ric Com- s meritorious. It is prudent to buy. the bonds. company supplies most of Schuylkill County, Pa., with electric light, power and railway service. - The dis: trict in which the comy he h Power and £. 64s series C, are secured by first mortgage bonds of subsidiaries largely exceeding in face value the amount of these bonds. ‘The company serves thirty-one communities located in Missouri, Kansas, Arkansas and 1 including some towns of importance. ‘The bonds were issued to finance the purchase of a new subsidiary. Net earnings are re- Potted to be 246 times total interest charges. Quoted lately to yield about 6.88 per cent. K., New Ontrans, La.: The People of Porto Rico 434 per cent. gold loan of 1923 ranks high among tax Company exempt securities. The bo re due $75,000 each January 1, 1929 to 1941 in and are callable on and after January 1, 1939, at 105 and interest. Principal and interest are payabl 5 ton, D.C, Their legality has been Attorney General of the United States. They are accept- able at par by the U.S. Treasury as security for deposits of public moneys, and are eligible as security for postal sa) They are issued under authority of Con- gress and the legislature of Porto Rico, and are exempt from all taxes, Federal, state and local. Issue price 100. G., St. Lovts, Mo.: The Northern States Power Company Ist lien and general mortgage 63, series A, due November 1, 1948, should be satisfactory public utility Treasury, Washing- passed upon by the comicbooks.com