Judge — October 25, 1924 — page 24: what you’re looking at

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

7% on S10 or $10,000 EN and women of moder- ate means are becoming intelligent investors in increasing numbers. They are giving more thoughtful attention to the earn- ing power of their savings. Hard-working, always thrifty, they are seeking to create acome- petence for the future. 3%% or 4%, a trifling return, formerly satisfied them. Now they knowthattheirsavings,even though comparatively small, can safely be put into the same strong investments that banks and large individual investors buy and hold. Smith Safeguarded First Mort- gage Bonds now pay 7%. Sold under our Investment Savings Plan, they enable you toearn full bond interest on all monthly payments. ‘This is a simple, practical way for you to create an independent income. Clip and mail the coupon now for booklet giving full information. No Loss to Any Investor in 51 Years The F. H. Smith Co. Founded 1873 Smith Building, Washington, D.C. THE F. H. SMITH COMPANY, Smith Bldg., Washington, D. C. Please send me your free booklet, “How to Build an Independent Income.” Also information about Smith Bonds paying 7%. 24-B Name Investment Opportunities The securities market at present offers good chances to far-sighted investors. The issues of many leading corporations—long established, seasoned dividend payers—are selling below their intrinsic worth, atever may have happened during the past, the investment quality of these issues has not been impaired. They can be pru dently bought and they render fine yields on market price. They also bid fair to be profitable as speculations, for they promise in time to seck higher levels. ‘The Investment Bureau will glad ly specify to inquirers stocks and bonds that are reasonably safe and desirable. YOU CAN BUY Good Securities in Small or Large Lots Partial Payments Ask for Booklet L-7 which explains our plan and terms James M. Leopold & Co. Members New York Stock Exchange 7 Wall Street New York Established 1584 Subscribers to JuGE are entitled to answers to inquiries on financial questions, and in emer- gencies to answer by telegraph. No charge is made for this service. are treated confidentially. A two-cent postage stamp should always be inclosed. inquiries to the Financial Editor, JuvGe, 627 West 43d exact street address. Anonymous communications will in no case be answered. Investment Buying by Theodore Williams RECENT feature of the securities market, thought to have much significance, was an observed decrease in the floating supply of desirable stocks. This was due to accumula- tion of these issues by people who bought for investment and put away their purchases in their strong boxes. The buyers took advantage of reces- sions, but their action showed con- fidence in the future of prices. They did not believe that any advances their selections might already have had made these less safe, or unlikely to reach higher levels. With divi- dends reasonably secure they felt little concern over the seesaws of quotations, for they regarded the long pull as surely in their favor. Both business and political condi- tions at the time tended to confirm the views of these investors. The sanest observers think that no boom in business or securities is to be looked for right away, but rather a gradual improvement, not steady, but subject to setbacks and irregu- larities. With the Presidential cam- paign out of the way a great and un- settling distraction will be removed from the business and financial world. Then normal attention can once more be given to ordinary processes of industry and trade. It cannot be doubted that signal results will follow and that prosperity will be estab- lished on a firmer base. The fortunes of the securities mar- ket are linked with those of business. To the degree that manufactories, . mines, oil ventures, public mercantile concerns, and builders prosper the certificates repre- nting ownership in enterprises will be esteemed by the public. It may be too late now to expect spectacular profits in stock exchange transactions except in rare instances, but spec- tacular losses, too, are equally im- probable. Every sharp reaction will attract flocks of buyers whose orders will steady the market and send it up again. The discriminating investor will see and seize opportunities that do not endanger his capital. Those who shrink from the hazard of the stock market can always find a refuge in first class first mortgage real estate bonds. Answers to Inquiries The American Waterworks & iy. strong and prosperous. It is paying cent. on its first preferred a 6 per cent. on its second preferred, but nothing as yet on the common. ‘The earnings, how ed to be sufficient to. warrant a return mon. This stock had a big rise in h on account of the company’s How far the recent e no outsider can tell ade the stock more vulnerable . and a sharp decline occurred. It to hold it for any such extraordinary further advance as 100 to 150 points predicted by your friend. It is safer to take a reasonable profit and not expect too much. G., Fort Leavexwortn, Kax.: On_ general principles it is not advisable to dispose of sound bonds in order to invest in stocks. The Oriental opment Comp: is finding its operations highly profitable and is able to pay 10 per cent. on its stock. Its 6 per cent. bonds, therefore, seem to be & reasonably safe proposi tion, evei not, guaranteed by the Japanese Government. ‘These bonds seem preferable to class of Radio Corporation of America stock. Radio common is a non-dividend payer and the preferred only recently began. to make a return. The corporation is on a. firm footing, but its shares have not ceased to. b spe Better purchases would be Bethle hem Ste:l 7 per cent. pfd., American Waterwork etric 7 per cent. pfd rican Woolen 7 per cent. pfd., and Standa & Electric 7 per cent. prior pfd. F. Provip ¥ on tangible ds in moderate amounts. I reports indicate that it is successful. st on its bonds has been regularly paid not listed on any of the exchanges. Although it is not one motor companies, Hudson da good measure of suc unforeseen change occurs the dividend be maintained. ‘The stock is hardly in the but is a reasonably good specula J be safer to buy it outright and not n margin. Sounder purchases would be eral Motors common, White Motors, and Studebaker. H., Loxpos Ovr.: At this time Mutual Oil is making substantial profits and paying dividends It owns productive pr but has not an assured future, oil industry is still ina bad way, and the ness of tl F companie is speculative. International powerful affiliations and valuable holdings. But its dividend payments have been too small to make its stock att ble issue be Mexican Ses % solidated preferred, the. latter quo! and paying a dividend of 8 per cent., thus 5 over 10 per cent. on market price. Brocxtox, } You can safely bu first’ mortgage bonds offered bs Miller & Co. These bonds are secured by income producing properties and pay 7 per cent. It seems to be a certain fact that these sec have nevei y are not dunder 80, it the holder is in n L, Manavoy Cry, P. All communications Address all New York, giving full name and comicbooks.com