Judge — July 25, 1925 — page 27: what you’re looking at

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the principal in full, but you might not want to wait wo that time. There is an investment, however, that would meet your requirements with mathe- matical certainty. This is the 7 per cent. first mortgage real estate bonds. You can obtain issues maturing in six or seven years. These bonds have not an open market, but the selling company’s practice is to repurchase bonds from holders heeding money at a discount of 1 per cent. . That 1s to say if you buy a $1,000 bond, the bond com- pany will take it hack ‘and allow you $990. If you should hold the bond for a year you would receive $70 interest, so if you then sade it back you would receive your principal and 6 r cent. net interest. If you should hold the Bon longer than a year the case would be better. » FRANKLINTON, La: ‘The Atlanta, Birming- tae "& Atlantic Railroad Co. has been in receiver's hands since February, 1921. During the past few years it has made such a brave show of deficits that its stock, par $100, is quoted at only $1.50. ‘The shares do not appear to have any speculative possibilities at this time. » New York: Bethlehem Steel common has sagged seriou nce its dividend was suspended. The co ‘s earnings do not_give the stock nunediate speculative possibility, A prefer- nt with sume speculitive promise would be, American Steel Foundries 5 about the price « e National Cloak & ul are priced rather Ml. "The preferred rf doing preferred stock is an attrac tive business. man’s” pu urrent prices. ‘The common is also dividend paying and desirable. Crucible Steel common pays #4 and the preferred $7, Both have merit, but the preferred is more inv Studebaker pre- ferred, paying 7 per cent., is so well thought of sells (at about $118) in, the neighborhood of terling issues as U, el common, N.Y. Central and Atchison conm M., Brivcrport, Co! Rova Chain Radio Stores reports active expansion and inere ss but it has not been sui States Oil Corporation was fee from encouraging to the stockholders. ‘The receivers stated that there were claims against the corporation aggre- gating $8,000,000 besides an income tax levy by the Government of more than $10,000,000. Also, there were lary claims against the corporation's subsidiaries. The receivers declared that the cor- poration could not be reorganized unless the Gov- ernment remitted or reduced its charge, which, it was intimated, was unjust. It was disclosed that the corporation has thirty-eight subsidiaries and is interested in seventeen other concerns. This shows how extensive and complicated the Middle States Oil problem is. A. master has been ap- pointed to pass on the claims against the corpo- ration. Unti known just what amount the corporation is ated to pay, no definite con- cl spects can be arrived at. Tt is not wise for tlie average on_the issues of a corpo- is in receivership and is about to be zed. You had better refrain from dabbling in the St. Paul Railroad stocks until the compa: affairs have fot into a settled condition. though shareholders are to receive bonds for the assessments they pay, the future of the road is not certain enough to warrant your putting $2,000 into ihe common and preferred i issues. Sr. Lovuts, Mo.: ‘The new first: mortgage 514 ‘per cent. bonds issued by the Birmingham Watesworks Co. total $5,550,000 and are secured roperty velued at over $9,000,000. The al mature in 1954 but are redeemable on and after October, 1929. The company peeks the important and growing city of Birmingham, Ala., with water... The bonds constitute the only funded debt. ‘They are guaranteed by the American Waterworks & Electric Co., which operates the largest system of privately owned water properties in the ‘United States. ‘The Birmingham Cot pany's net earnings are over 2.37 times all ii terest charges. The bonds were first offered at 9934, They are an attractive investment. Civctyyatt, O.: ‘The 6 per cent. Deben- ture Bonds of the American Light & Power C were issued March 1, 1916, and are due March 1, The v. through its subsidiaries, s nearly 400 communities in the Northwest, iddle West, and South, its territories having a al population of 2,000,000. ‘The operations of the company are under supervision of the Electric Bond & Share Co. Its net earnings are about three and a half times annual interest requirements. This company has been paying dividends on common and preferred stock for years. The bonds look like an excellent investment. K., Puttapevents, Pa: The International Harvester Company's 7 ie cent. cumulative pre- ferred stock (par $100). a high book value as the company is reported to be in a very stron financial conditions "This accounts for the high market price of the issue. The company manu- factures in the United States and foreign countries farm operating equipment, binder twine, gasoline engines, tractors, wagons, motor trucks and so forth, and is the largest concern in the world in its line. It is a seasoned dividend payer. It would be reasonably safe to put some of your funds into this stock. H., Moxsox, Me. Althou ugh the immediate outlook for American Steel Foundries was re- cently stated by the head of tbe compa to be somewhat less encouraging, it looks as if in the long run the purchase of ‘the common stock would prove satisfactory. The stock, with its $3 divi- dend, is making a good yield on market price. Crucible Steel 7 per cent. pfd. offers a very fair opportuni S. Duvutu, Mrsy.: The thirty-five-year 5 r cent. guaranteed gold bonds of the Central acific Railway Co. are an investment of Bet ‘The bonds are unconditionally guaranteed, bo as to principal and interest, by the Southern Pacific Co. The bonds are not redeemable before 1, 1935, and are then redeemable as a whole and at 105. ‘The ‘proceeds of these bonds. w be mburse the com- about 5) per cet L., TRENTON, deemable as a whole or in part at 105 prior to dune 1, 1935, and at successive reductions after that date. ‘The company will pay the Federal income tax up to 2 per cent. "The company serves in Philadelphia and nden, one of the realest industrial districts of the United States. The company ix prosperous. ‘These bonds are secured by deposit of the company’s first mortgage 5 per cent. gold bonds, Earnings are reported to be nearly twice annual interest charges. 'The red at a price to yield 6.15 per ‘The tendency of the market lately has been upward and has had a favorable effect on some of the copper _ Wh issues will advance to depends on continued improvement on the price of the metal. Burvato, N. Y.: Some years ago it was it the saturation point in the auto- mobile industry had about been reached. To- day the leading automobile. manufacturing com- panies are doing a larger business than ever before and the prospects are for further expansion. The Prices of the leading concerns’ issues have reached pretty high figures, probably largely discounting their future, “But ‘there are still moderate price motor stocks that have possibilities. Among these are Paige Detroit common, Packard Motor common, Chandies and Moon, all paying divi- dends. Of these Packard common is perhaps in the strongest position. The company is about to retire all its preferred stock, thus giving the com- mon first place. Increase of the common dividend before long seems highly probable. Rumor of a Possible stock dividend has not been confirmed. Wiuarxctox, De.: The Teapot Dome litigation has had no adverse effect on the Sinclair Consolidated Oil Co. The improving conditions in the oil industry have greatly benefited this com- ny. Its preferred stock, paying 8 per cent., as advanced nearly twenty points from the ex- treme low. New Yonk, July 18, 1925. Free Booklets for Investors ‘The Strauss Corporation, which has offices in the principal cities, is offering 7 per cent. first mort- gage real estate gold bonds which it maintains provide the heaviest yield consistent with the “atest safety. ‘The bonds may be had in broken fots as to maturities an jounts. Full particulars regarding these securities are contained in Cir- cular J-11 which be obtained by applying to the Strauss Investin, Corporation, ‘300 Madison Avenue, New York ‘Among Satie oe issues for middle of the year investments, G. L. Miller & Co., 30 East F second street, New York City, 5] mortgage 7 per cent. real estate gold bonds secured by ihe Hurt Bldg., Atlanta, Ga., the largest office structure in the South. The appraised value of the property shows a large margin over the amount. of the Pond issue, and net earnings are estimated at about twice the greatest annual interest charges, and 134 times the greatest annual combined cha terest and principal. Miller Bonds, in w claimed no investor ever lost a dollar, and paying up to 7 per cent., are fully described in Booklet 107, which the company will mail to any applicant. in a pamphlet issued by the Trust Co. of Florida, Miami, Fl Fla,, are given five reasons for the 8 cent. rate paid on first mortgages in that thriving Southern State. Persons who care to investigate the soundness of an investment in Florida 8 per cent. first mortgage real estate bonds, obtainable, if desired, on partial payments, should write to the company for pamphlet 212. MAIL this coupon for FREE BOOKLET 07 5% investments in MIAMLFLA 3, “= terest rate safely through our First Mort- gage Bonds on select, in- come-pro- ducing prop- erties in Mi- ami, fastest- growing city in the U.S., where money earns big wages. Interest paid two weeks in advance, no expense, no worry. Denominations $100 up. Remember—8% compounded will double your money in nine years. Don’t put it off—write today for booklet of valuable information. 0 Check here if you want details of our Partial Payment Plan—you get 8% from the first day. SOUTHERN BOND & MORTGAGE COMPANY Room 508, Ralston Bidg., Miami, Fla. the JUbGE Investment Bureau can give you any help, the pleasure is all ours. Address Investment Bureau JUDGE 627 West 43d Street New York What Makes a Bond Safe EFORE You buy Bonds do you Analyze the con- templated investment? Do you really know the factors that de- termine the safety of any First Mortgage Real Estate Bond? This booklet, “How To Analyze A First Mortgage Bond” will show you how to accurately determine the relative value of each contemplated invest- ment. Mail the coupon—Today! THE STRAUSS CORPORATION Offices in Principal Cities ; NEW YORK: Strauss INVESTING CoRPORATION eeeneee, * COUPON «= ar ey INVESTING CORPORATION Madison: Avenue NEW YOR Coe 5-725 Please send me without obligation your Book- let “How to Analyze a First Mortgage Bond” Name—___ Addi City NoConnection With Any Other Bond House ls ee | comicbooks.com