Judge — March 5, 1927 — page 28: what you’re looking at

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

SHORT TERM 8% BONDS Maturities—2 to 8 years; Security—First mortgages on new, in- come-producing buildings; first 1 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% $100 Bonds, $500 Bonds, $1000 Bonds Partial Payments Arranged waite ty ‘Trust CoMPANY or FLORIDA Paid-in Capital and Surplus $500,000 MIAMI, FLORIDA Street City-.....-.-...-- State Investment Advice The Jupce Investment Bureau is now answering questions for investors from half a dozen countries. Our friendly advice is given free to thousands. A stamped and addressed envelope brings you an answer which includes our best judgment on investment problems. Investment Bureau, Judge, 627 West 43rd St. N. Y. Gentlemen—Kindly advise me about the following: PAUL KAYE, Learn Stock Privilege Trading| A method largely used by professionals. For $150 you can trade in 10) shares of almost any stock. Free} booklet M explains this and other methods of trading, 149 BROADWAY, NEW YORK' Subscribers to Tvs: are entitled to answers to inquiries on financial questions and in emergencies to ans ser by telegraph. No charge is made for this service. All communications are treated confidentially. A stamped and addre Finance al Editor, Juve, 627 W ed envelope should always be inclosed. Addr s all inquiries to the st 43d St., New York, giving full name and exact street address. Anonymous communications will in no case be answered. After the Gale By Theodore Williams HE recent ‘‘speculative I orgy” in low-priced railroad shares did not determine the general trend of the securi market. The spectacular mov ment was a limited one, due to spe- cial, not fundamental, causes, and its artificial character was proved by the break in which it ended. Purchase of control of Wheeling & Lake Erie by strong railway com- panies was effected, not because the road is a profitable enterprise which it is not, but because it occu- pies a strategic position and can be used by the buyers advanta- geously as a traffic route. The shares rose to a level that was ridiculous if tested by present carning power alone. Mixing in this operation was an unsafe ven- ture for the public. The specula- tive element, however, did not care whether the stock had _ intrinsic value or not. They rushed to buy long or to sell short, and many of them got in too near the danger point and later suffered sadly The stocks of various other lines, some of them only “streaks of rust” and without even merger value, acted in sympathy with the rise and fall of Wheeling. The whole performance was a typical bit of speculation madness succeeded by a wiser and soberer state of mind. There had be comparatively little response to it in the general list, and when order was restored the question of whether the major upward swing was to be resumed, or whether a major decline was impending, had not been definitely settled. Changes of values had not suffi- ntly altered the situation to afford a basis for sound fore- casting. Nevertheless the voice of the optimist was still sonorous. Such a shrewd and far-sighted industrial genius as Henry Ford, for in stance erted that business con ditions were “as solid as a rock,” and that no trade recession of im portance was probable. = This opinion goes far to confirm the view of certain hopeful “ex tremists” who anticipate as good times in 1 sted in 1926, or even better. Certainly there are reasons for encouragement from the way in which general business is behaving, and with a continuance of prosperity there an be no permanent setback in prices of meritorious issues. Bear- ish attacks will be unavailing for long, and the bull market should at least hold its own indefinitely, and perhaps experience more or less improvement. as € Answers to Inquiries R., Naw Yor Crry: Fageol Motor Co. is paying 7 per cent. on its pfd. stock (par $10), or 70 cents per year, a liberal yield on market price. Common stock geta nothing. Earnings indicate that the pfd. return can be continued: Saurvittr, Va.: Moto Meter Class A, dividend $3.60, is yielding more than 10 per cent. on current Price, This, is because of the speculative element in the stock. The company’s business ia linked to the automobile industry. Mexico Oil is a gamble against which I have repeatedly warned my readers. C., Tror, N. ¥.: ‘The Standard Publishing Co., after paying a few quarterly dividends of 3734 centa each on Class A shares, suspended dividends and both classes of stock are now only spe The company, how- U., § » 8. 8. Radiator Cor- poration is prosperous. It is paying 7 per cent. on pfd. and its common is on a $2 yearly basis. It also has declared 60 cents extra on commor V., Lancamont Ganpens, N. Y. sler common is not strictly “a safe investment.” The return on market price is excellent, but the future of the automo- bile industry is not wholly free from uncertainty. The stock might be called a good business man’s purchase. Q., Vaturrriep, Cax.: Owing to the improved financial conditions in France, the bonds of that coun- try are looking up a little, and the French Government 6 per cent. bonds, loan of 1920, still very low priced in American money, stand a chance of appreciation. At Prevent it appears better to hold than to sell them. A, Farrgtt, Pa.: Pennaylvania Power Company's $6.60 cumulative pfd. stock, paying at the rate of 55 cents per month, is an interesting and reasonably aafe investment. The company is affiliated with going concerns and its outlook is promising. M., Wasainaron, D. C.: Stutz Motor Car Co. is not a dividend payer and haa been piling up deficits for » number of years. Its stock ia not attractive either for speculative buying or aa a long pull investment. Studebaker common is a good motor stock, making 3 fine yield on market price, and Hupp Motor’s return to stockholders is fairly: good. There is no prospect that a dividend will be declared soon on Pierce Arrow comicbooks.com