Judge — October 2, 1926 — page 28: what you’re looking at

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

BomE oF SMELLING SALTS ON "(RAIL O' Tit’ LONESOME Bory OF A WANDERING ICICLE WITH A BROKEN BACK FieozEeN > DEATH W ITS NATVve HAUNTS, WHEN OWES A Po Pile AN ECCENTRIC PIN- CUSHION TIRED OF ITS MONOTONOUS EXISTENCE, COMMITTING suicibe . A PULER MINE ATTEMPTING— TO PLACE A WREATH OF LAUREL UPON -THE BRow OF Square -wHeELeD MuLe WITH ONE STAR IN ITS CROWN DEUVERING A GARREL OF CibeER AND A GROOM “TO A CASH CUSTOMER. AORTA or Cornuce < - GALL GEARINGS Key To THe ony. SPrower Rereieerann | DUPLICATOR ~ (ip ENUNCIRTOR =e ALLIGATOR ~: CiRoss-SeECTion oF THE EGG. OF THE FEATHERED LINOLEUM BIRD SHOWING ROTARIAN MECHANISM * AND FURNISHINGS FoR LIGHT HOUSE KEEPING. Py) Investment Bureau Subscribers to ScpGE are entitled to answers to inquiries on financial questions, and in emer- gencies to answer by telegraph. No charge is made for this service. All communications are treated confidentially. A stamped and addressed entelope should always be inclosed. Address all inquiries to the Financial Editor, JupGE, 627 West 4.3 and ezact street address. A Time for Discretion by Theodore Williams |ORECASTERS sometimes may Fe too optimistic concern- ing the outlook for general business and the securities market. That extreme should be avoided by all concerned. It is impossible to ignore the plain evidences of present and coming prosperity in this coun- try. But business men should still be on guard against overproduction, and investors against overspecula- tion. At this time the inflation mania showing but mild symptoms and if it can be kept in hand no great harm can happen. Marking up of money rates, calling of broker’s loans and profit taking have lately proved ample checks to the speculative ten- dency, and so the securities market has now and then worn a rather con- servative aspect notwithstanding oc- casional sharp fluctuations. For the most part the trend has not been reactionary, and some observers pre- dict a brisk bull market with ma- terially advancing prices during the autumn months. But it might be wiser to be a little doubtful of this than to make commitments before the course of the market is clearly determined. Mr. John Moody warns, “It has been the habit of the rails for many years to show great strength during the latter stages of an upward swing,” and, as all know, railroad stocks have frequently of late been very strong. Is this bull market then in its latter stage? Irregularity of prices on the Exchange has fore- shadowed no immediate rush to higher or lower levels. Only on a basis of big and increasing trade can be built up another sound and solid rise in the prices of securit in general. Answers to Inquiries H., Braurxcuam, Ava.: Good fortune has be- fallen the Texon Oil & Land Co. through the dis- tribution to stockholders of 81,000,000 by the Bi ¢ Oil Company. Texon Oil & Land Co., and its subsidiary, Group No. 1 Oil Corporation, will New York, giving full name Anonymous communications will in no case be answered. each receiv 200,000 of this 25 per cent. dividend ake. Texon its shares had a year or two. to hold them. H., Goversors Istaxp, N. Y.:_ It is true that Tt might pay to St. Paul Railway 4s matured in 1925, and defaulted on both stand principal. But the fact that they have not been redee not deprive them of quotable market value. Under the plan of reorganization, holders of these bonds are to be given an equal face amount of new adjustment mortgage 5 per cent. bonds, cumulative after Jan- 1, 1 ble on and after October . [tis a benefit to investors to bave the de still liste holders may them, and some non-holders may thinl buy them in order to secure mortgage 5s. Skelly Oil 6! seemed to be quoted high at 135. are convertible inte at the #2 per share. I he sold these shares at $95 cach, be would realize $1,400 or 140 on his bond. ‘The bonds would mature "at par (100), so that conversion would be highly profitable to the holder. Inter- borough Rapid Transit 5 per cent. gold notes (par 100), due October 1, 1932, would seil higher than the recent price of 75 were the corporation in a more flush financial condition. ‘They are not by mortgage and they are redeemable on 30 days’ i m of only '4 of L per cent. inst the value and sound ness of the notes. If it were certain that interest would be paid right along and that they would be allowed to live until maturity and then would b redeemed, there would be a first rate speculatic in buying them. But they are not « “sound in: vestment.” W., Marsmatt, Mica.: Bethlehem Steel com mon’s dividend possibilities are improving and apparently the next declaration will be at the rate of 8 yearly. The stock looks like an excellent culation. When put on a dividend basis it sbould sell near or above your purchase price of 260. To add to your present holdings, at anything 50 per share would seem to’ be taking a nce. Only an omniscient observer could the best buy at this time. Stocks have Pick oO would be natu been making the chief adva ed lagged. There ike the ues have be lower elling which stock is »w in the future. It can ‘oned dividend payers, whose corporations are flourishing and appear bound to flourish, are attractive, and reasonably prudent purchases on recessions. These remarks may be applied to bonds also. ‘There is no immedi- fe prospect of a general and tumultuous farther rise, though special issues may now and then develop fireworks. Nash Motors common is quite a safe buy, but the yield on market price is not remarkable. The company is prospering and has a fine outlook. T., New Yous Crrv: Appointment of a re- ceiver for G. L. Miller & Co. should not have an adverse effect on the first: mortgage real estate bonds which that company has distributed. The bonds are not obligations of Miller & Co., but of the owners of properties which secure the bonds. ‘The bonds are worth just as much and are as so} ments as they were before the receivers! he receiver has warned holders inst fi their securities and has promised to money paid by the borrowers and benefit of the bondholders. In of payment by the borrowers some arrangement should be made to protect the bondholders. B., Couemnrs, 0.: American Bosch Magneto earned only 81.17 per share in the first half of 1926, against 81.75 in the like period in 1925. So the company bas roade no headway thus far this year A switch to either Paige-Detroit common or to Belding-Hemingway common would seem a wise comicbooks.com