Judge — November 27, 1926 — page 28: what you’re looking at

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

Free | Investment Advice The JUDGE Investment Bureau is now answering questions for investors from half a dozen countries. Our friendly advice is given [ree to thousands. and addressed brings you an answer which A stamped envelope includes our best judgment on investment problems. Investment Bureau, Judge, 627 West 43d St., N. Y. Gentlemen—Kindly advise me about the following : SHORT TERM 8% BONDS Maturities—2 to 8 years; Security—First mortgages on new,in- come-producing buildings; first lien on income; monthly advance pay- ments on interest and principal col- lected from the borrower by trustee; Trustee: Trust Company of Florida, operating under state banking super- vision; Record: No loss to any investor since this business was founded in 1909. Free Booklet: Mailed on request. First Mortgage Bonds at 8% lortg $100 Bonds, $500 Bonds, $1000 Bonds Partial Payments Arranged Write to, Thus COMPANY or Fiorina MIAMI, FLORIDA Investment Bureau Subscribers to June 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 alcays be inclosed, Address all inquirtes to the Financial and exact street address. Post Election Conditions by Theodore Williams HE recent election showed no uch signs of radicalism ner such changes as could endanger the country’s prosperity, and the securities market was not greatly affected by the event. There $ much irregularity and hesitation before November 2, but neither a selling wave nor a buying wave of large proportions immediately fol- lowed that date. It was too obvious that. there was no forceful reason for cither a slump or a rebound in prices. Stocks generally, for the time being, seemed likely, with variations due to special causes, to stay in the neighborhood of their then level. Predictions that this must remain the case for the rest of the year could, cf course, be verified only by lapse cf time. It is always possible that something, adverse or helpful, may happen to change the financial weather and disturb or improve market conditions. Barring outside stimulations, or decided change in fundamental factors, the values of securities will be shaped mainly by the market’s technical situation. It has come to pass that securities cannot be so readily manipulated as they were a few months ago. The public, having learned at least a temporary lesson from its losscs, cannot be so easily beguiled into haphazard buying. Without a large body of followers the professionals cannot keep up their game of mere manipulation very long. Securities should be salable for a period at about their intrinsic worth and for no more. This would restore to the exchanges their true character of genuine markets, and not lotteries as they sometimes become during the frenzies of speculation. If a humdrum interval is to ensue stocks and bonds can be sized up more ac- curately. While some issues may work upward, others will droop of their own weight. Then if specula- ditor, JupGe, 627 West 43d S Anonymous communications will in no case be answered. New York, giving full name tion shall languish real investing may flourish. Many more persons would buy the sounder issues to-day were they convinced that prices would hold reasonably stable. The aggregate of purchases by such investors after a space of stagnation might consider- ably strengthen the market. But this does not imply a coming boom, which will require a more powerful exciting cause. Answers to Inquiries B., Buooxtys, N. Y.: Among stocks that are accounted good business man’s investments, and therefore suitable for a firm to buy with its #25,000 surplus, may, be mentioned the following: A mer- 5 .. American Steel Foundries com- American ‘Car & Foundry common, Amer- ican’ Locomotive common, Dodge Brothers pfd., American Snuff, American Sugar pfd., American Tobacco common, Bangor & Aroostoo Union Pacific common, Vanadium Corp., S Gas & Electric 8 per cent. pfd., and Studebaker common. There are others, but. these offer a fine diversity. They all dividends. You can find prices and rates Pie idend of each of these issues in the financial pages of the daily newspapers. I advise that you watch the market reports carefully and get the stocks on recessions if you can, though they are selling at well justified Prices now. S. Moxtreuter, Ipa.: The Fair common pays a monthly dividend of 20 cents per share. The return on market price is liberal, Wool- worth is a sterling issue, but not disb cient for its selling figure. i common is paying 8 and man's investment. American Steel common has a good dividend record, am excellent. purchase. Kresge Department Stor common is not a dividend payer. The pfd., paying 48, is more desirable. ., Covo.: You have made a vi ied disposition of your invested #2, witches are recommended. The # you hold in reserve could be put into such as Bethlehem Steel 7 per cent. pfd., Am Tel. & Tel., Dodge Bros. pfd., and Internatic Paper pfd. If you can get these on recessions, so much the better. M., Porttanp, One.: In spite of the drop in the Price of silver, ‘which contracts earnings some- what, U.S. Smelting is said to be able to earn its 85.50 dividend with a handsome margin. You are getting a fine return on purchase price and need not worry over a decline that stands a chance of some day being made up. Chile Copper also is doing well by you and its moderate fall may yet be recovered. Anaconda is one of the best of the coppers, but it and Chile are not likely to move upward materially unless the price of copper metal advances or the earnings of the companies increase. You have a fair profit on your Standard Oil of California, but an extra dividend bas been declared on it and it is supposed the shares will soon be put on a 8$ basis. In that case they will be worth holding. Marland Oil has been affected adversely in price by the proposed issue of addi- tional shares, but it pays you well over 6 per cent. on your buying figure and it seems better to hold it than to sell at a loss. South Penn rewards you satisfactorily on purchase price and can prudently be held. Standard Oil of New Jersey is paying poorly, and even if the dividend were doubled, it would’ be good policy to switch to a more generous yielder. California Petrolcum_has been very steady and may be held. Texas Co. offers you a small profit but the stock is sound, with ies, and there need be no haste to sell it. ———_—_—_—_——___! comicbooks.com