Judge — March 7, 1925 — page 24: what you’re looking at

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

Since 1873 —when Grant was in the White House World-wide confidence in Smith Bonds is the result of $2 yearsof | proven safety in first mortgage investments oe IFTY-TWO years ago this month Ulysses S. Grant was inaugurated for his second term as President of the United States. Two months earlier, in January 1873, The F, H. Smith Company was founded, Smith Bonds are owned today in all the ] countries visited by President Grant on his historic world tour—England, France, Italy, pt, India, Siam, China, Japan, Cubs, } ha in 20 other foreign lands, and in every State in the Union. | First Mortgage Bonds t © SMITH BONDS (51,000, #300 100) are described in our new booklet, “Fife ‘ears of Proven Safety.” Our Investment Savings Plan, which pays the full rate of bond interest on every partial payment, is de- } scribed in the new and revised edition of our book- let, “How to Build an lent Income.” Mail | the attached coupon for booklets today. ‘THE F. H. SMITH Co. ] Founded 1873 Smith Building Washington, D.C. THE FH. SMITH COMPANT 202, Smith Bualding, Washington, D.C. Please send me, without obligation, copies of your two new booklets. | | Exclusive Features i Safer and more profitable A STRONGER le pr preity 8 | ment of both principal and inter fwaranteed to the investor in rotected First Mort, Bonde by one of the oldest and stron, est Surety Companies in America, A HIOHER YIELD—A yield from 1% to 135% greater th i from other g Investments CONVERTIBLE TO A 7% YIELD— Thetnvestor may at any time secure a7% yield by dispensing with the guarantee. © years without loss to any investor. q Serial Maturities: $1000 - $500 Desomiaations. Write for full information and list of offerings. Address Dept. 1-25 Adair Realty & Trust Company } “The Souths Oldest Mortgage investment House | Founded 1865 ATLANTA PHILADELPHIA, Packard Bide. NEW YORK: Adair Realty & Mortgage Co- here 270 Madison Ave. Subscribers to Jue. are entitled to answers to inquiries on financial questions, and in emer- gencies to answer by telegraph. are treated confidentially. inquiries to the Financial exact street address. itor, Ju The Stock Market Puzzle by Theodore Williams Ti performances of the securi- ties market since the beginning of the r have at times inystified conservative financiers and caused them more or less misgivit Old-time rules for interpreting the situation have not seemed to apply fully to the circumstances of to-day. Various issues have had unforeseen gyrations; prices have shot up or plumped down, frequently without apparent reason. Reactions hailed by the bears as signs that the bull market had reached its peak and was bound to regress have been followed by upward movements to new high- water marks. The often-predii drastic slump indicated by prece- dents and charts has as yet failed to occur, and the public seems bent on bidding up, rather than down, the issues it trades in. Stock market forecasts cannot in these days be so confidently made as formerly. The number of individual securities and groups of securities has so greatly increased that opera- tors find advantage in taking up one group to-day and another group to- morrow. To-day rails may be the feature, to-morrow industrials, pub- lic utilities, oils, mining shares, or the so-called specialties, each class of stocks throughout the lists having its day. Thus it may be said there are virtually several stock markets on the exchanges, each being given its turn. Rarely has the general market advanced or receded as an entirety. It has been largely a zig- zag proceeding which nobody could count upon safely for more than a single Manipulation has so often drawn a herring across the trail as to baffle the most experi- enced “nosers out” of trends. But the changes of the hour look superficial enough when the funda- mental conditions are examined. These are sound and growing more effective right along. Car loadings ed session. No charge is made for this service A two-cent postage stamp should always be inclosed. All communications Address all 627 West 43d St., New York, giving full name and ‘Anonymous communications will in no case be answered of the railroads, enlarging transac- tions and improved dividend records of numerous corporations, the pros- perity of th power of the people, promises mers, the sustained present business, and sane govern- mental policies far outweigh in meaning current fluctuations in se- curity values. They form the true basis for confidence that the best- not overpriced, but » higher. class issues are will eventually Answers to Inquiries M.. Raswourn, Pa. The Pittsbargh-Ploeida, Fruit’ Growers Ascoriation, although incorporated as far back as fous, has as yet paid only the single With a funded debt te unable to provide public, extensive trac Do Newuae Ns Ya Ute spprars to be a fact that “Assoriate Pharmacists has proved to be a failure. Th is no surprise to this Bureau, For years it has warned its readers of the weakness of the company. If the latter gurs into bankruptcy pekhbolders are hkely to grt littl of nothing. United «ts Co. offers you and your twenty sx awe tl uh exchange stock and a small cash payment, the only chance of recovering anything. Ihave no knowledge of the strength or possibilities of United Pr ts. Its letter to harmacists stockholders was apparently frank Bat the concern's future can not be certain and on at prese Banner Mining & Milling as incorporated time produce the company, is M. New You of t entitled to only a low rating. ‘The Marconi Wireless Tele- f has not been prosperous and has paid po dividends. It was decided lately to change the capital structure and it was planned that the parent company in England shoukl the aid of the Canadian concern. The latter's shares are not desirable, The English Marconi Co. was prosperous and has been a liberal dividend payer. This company is doing a message transmission business which is but is not producing radio apparatus w: ratios are doing. 1 have no record of such a ell Co. There is a . which it is stated ha Gibson Manufacturing C M., Iutps, N. Yur Your niece's money. appears to be in the nature of a trust fund which can be legally invested in ooly certain kinds of securitirs N.Y. Central ref. and imp. 5 per cent. bonds, Delaware & Hudson Ist and ref, moet. bonds and Baltimore & Obio RoR. Ist mortgage bonds comicbooks.com aeeaeee|