Judge — February 2, 1924 — page 29: what you’re looking at

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

ST ee ee taal i aliltiltl ame: Cupid—Hello, Judge—there’s no use o’ my “i hin: She’s an “efficiency ex- hanging around here! pert” and he’s a “go-getter F, Atmexs, Mien.: [have no information concerning the affairs of the Wisconsin Alabama Lumber Co., but the Continental & Commercial Trust & Savings Bank of Chicago is one of the leading financial institutions of that ity and is not likely to handle other than sound securities. The lumber company’s 64s are presumably reasonably safe, The 7 per cent. first mortgage real estate bonds offered by George M. Forman & Co., 105 W. Monroe street, Chicago, are fully as safe as lumber bonds. T, Guexs Fats, N ‘The Hudson Tire & Rubber Co, appears to be new and its earning ability untested by time. If so the stock is a mere speculation and I would not advise its purchase. ‘The smaller and newer tire concerns are having severe competition from the rll established and stronger corporations, It is not tise to tisk money on an enterprise whose earnings do aot assure dividends. Jy Puarsvrune, ‘The East Coast Mortgage & Finance Corporation is evidently a new concern in a field already pretty well filled, Until it has shown ability to make good, its stock will be a speculation only. The prosperity of such projects depends on the efficiency and integrity of their managers. This corporation’ may prove to be a success, but its future is still necessarily uncertain, It would be safer to buy the issues of com- ‘h have been a long time in operation and ies. whic five been making returns to stockholders, H, Beuteroxtare, O.: The Tide Water Oil Co. isa Strong enterps rather irregular, div the oil industry, the company’s stock should advance It has had a remarkable, though lend record. With improvement in farther, in spite of its present low dividend rate. At curent quotation you already have a generous profit and it would be safer to take H., Cuicaco, Iuu.:_ Montgomery Ward common and Willys-Overland common are not at this time in the invest- ment class. They are both speculations. The chances have become quite favorable ior Montgomery Ward, the company’s earnings have shown a decided incre: of late and there is a possibility of dividend resumption is yess The Willys-Overland Company has made a wonderful comeback and is likely before long to resume payment of dividends on the preferred stock and to pay up the 21 per cent. arrears of dividend. But nothing an be paid ‘on common until the claims of preferred are satisfied, However, holders of the common are not without hope. J, Spokane, Wasnt: The American Sugar Refining Co, had an extremely bad year in 1923. It barely earned the dividend ‘on the preferred. The company must make largely increased earnings this year in order to better the position of the common stock. The latter is selling for less than one half of your purchase price. In view of its rather dark prospects it might be better to switch to some dividend paying issue. Anyhow, instead of evening up on sugar common, it would be wiser to even up by investing in a dividend payer. S, New York: Iron Products Corporation common 's paying at present only $1.50 per share yearly, and its narket price is out of all proportion to that slender yield, Evidently the quotation in the 50s has been due to the cerporation’s fine earnings—813 per share in 1923—and the excellent outlook for the business. : The Miller Rubber Company is gs in 1923 equal to $30 per share ea common stock. Should this figure be finally verified itis hard to see why dividends on common cannot be resumed, H, New Yor: Interstate Public Service first mort- B® and American Public Service first lien 6s, are not ly attractive. The two companies are not particu larly ‘strong financielly. The bonds may be regarded as fairly fred with reasonable assurance of interest pay- wale: irst-class real estate mortgage bonds paying Per cent. or 7 per cent. would be preferable. Y., New Haven, Coxn. Undoubtedly pools are at werk in the securities market. It is impossible to prevent ordinary activities of manipulators. Only when these Re beyond due bounds can they be called to account. tet pools for higher prices usually cannot succeed unless 2 situation is constructive. They are signs of prosper- us conditions. Investors should be carcful to inquire fbether the rise in a stock is natural or artificial. Pools their chief chances in speculative issucs. They rarely Operate in securities of the investment sort. B., Caaren Hn, N. C.: The stock of the Auto Knitter Hosiery Company declined heavily in the fall of 1928, because the company was hot earning its 88 dividend. It was predicted that a better showing would be made later, but recent earnings have not yet been disclosed. H., Port Bewnixo, Ga.: I have no acquaintance with the prof sional tipsters in Wall street are an unreliable lot, always to be avoided. They may delude some portion of the public for a time, but not for long, for they usually lead their patrons into di BLAckstoxE, but the yield on the about 8 per cent. T! ous stock and can be purchas reasonable safety. . debs. due 1954, aggregat $10,500,000, ‘The bonds were is: at a price to yield 7 per cent., making them an inviting purchase. ‘T' one of the largest publ zations in the counter Wy subsidia Tt. servi communities, including import- ant cities in M Oklahoma, and California. » 21% times the company charge. The bonds were issued to provide redemption of higher rate issues and to acquire an ad- ditional subsidiary. H., Povankeerste, N. Y.: The Chicago, Milwaukee and St. Paul Rail Company's new ten-year secured 6s, aggregate $14,000,000, but have back of them the Pledge of $20,000,000 of gencral mortgage gold bonds which are a first mortgage on the principal lines of the company. The company is not paying dividends, but the interest on these bonds seems to be amply assured. Issued at a price to per cent. to maturi New York, Janu: Free Booklets for Investors The Commonwealth Bond Corporation, 50 East Forty- second strect, New York City, will inail to any investor on application its pamphlet, “How to Judge Mortgage Bonds.” It points out the importance to bondholders of independent trusteeship of bond issues, that is, placing it in the hands of a strong bank, not connected with the ..L. Miller Bond & Mortgage Company, 202 Miller building, Miami, Fla., has issued “The Perso Narrative of a Successft or.” It tells how a man discovered the way to obtain with safety as much as 7 per cent. interest on first mortgage ties. applies to the Miller first mortgage real estate bonds which come in pieces of 8100, $500, and $1,000 and have an unbroken good record. James M. Leopold & Co. 7 Wall street, New York, members of the New York Stock inge, will send to any address their booklet L bing how first-class securities may be bought on a convenient partial payment plan. Copies of the Backe Rericw, the well-known financial weekly, are being sent to business men for three months, without charge, on request, by J. S. Bache & Co. Broadway, New York City, members of the New Stock Exchange. Send for _ The Personal Narrative of a Successful Investor This is the season when you are laying your plans for 1924 investing. What are the safest securities? How large an interest rate can you safely obtain? What investments cause the least trouble and worry? he Personal Narrative of a Successful Invest- or" will help you to answer these puzzling questions. This little book tells how one man finally discovered the way to obtain as much as 715% interest, on first mortgage security, with safety and freedom from care. Miller First Mortgage Bonds offer all these advantages. They come in amounts of $100, $500, and $1,000—and they have an unbroken safety record.’ Mail the coupon for the booklet “ GL.Miller BOND & MORTGAGE Company rida’s Oldest First Mortgage Bond House Miami, Florida L, MILLER BOND & MORTGAGE CO, Miller Building, Miami, Fla. Please send me, without-oblization, “The Personal Narrative of a Successful Investor,” and recommend a good investment for $......, maturing In about years. (These blanks need not be filled in, but they help us to give you personal attention). Booklet No. 24-1, which will be sent to all interested epersons i. Smith Co., Smith building, Wash- ington, D. C., reveals a plan whereby payment of $10 per month for a term of years will result in accumulating over % y income thereafter of over $1,400, This can be brought about by investing and re- investing in first mortgage real estate bonds paying 64 per cent. or 7 per cent., such as are offered by the Smith ; ‘These bonds are secured by desirable real estate at the nation’s capit The Onlooker—“That was a dreadful pull.” . His Friend—“Yes, naturally; don’t you know he’s a dentist.”—London Opinion. 27 comicbooks.com