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Be On the

Safe Side BEFORE investing your surplus

year. It is a high-grade bond; its present market is about 90, which is a little low for a 6 per cent bond. There are restrictions as to dividends designed to protect the bondholders.

"The 10-year S. F. 7s, due 1930, of the B. B. and R. Knight Company are quoted around 54 and 55. As you doubtless know, this concern is one of the oldest in the textile business, and is now a part of the Consolidated Textile Corporation. The security back of the bonds is a first mortgage on all the real estate and properties of the B. B. and R. Knight Company. Unquestionably they suffer from the depression in this industry, as well as from the shifting of certain types of work from North to South.”

funds, take the precaution against loss by seeking the expert and conservative advice of your local or investment banker who will gladly serve you.

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UST what do you mean by diversifi

cation?" readers continue to ask from time to time. One of the best answers is a specific illustration. Such an example comes in the recently published record of the securities owned by the late Senator Henry Cabot Lodge. Exclusive of real estate, the value of the property left was approximately $1,000,000. The larger items are:

864 shares General Electric,
1,240 shares Union Carbide and Carbon,

500 shares E. G. Budd Mfg.,
2,455 shares Calumet and Hecla,
500 shares Kansas City Stockyards pre-

ferred, 700 shares U. S. Smelting, Refining and

Mining preferred,
200 shares Amer can Telephone,
125 shares Edison Illuminating Co.,
250 shares Chicago Junction Railways,
50 shares American Exchange National

Bank,
1,296 shares General Electric special,

180 shares Otis Elevator,

142 shares Kansas City Stockyards, $30,000 U. S. Government bonds, 20,000 Northern Pacific bonds.

Facts For Investors

THE OUTLOOK's Financial Service Department is at the disposal of all Outlook readers at the nominal charge of $1 per inquiry. It is a fact-finding and reporting information service which aims to help the investor, small or large, solve his own problems. We are serving hundreds. May we serve you? The Outlook Financial Service Department

THE OUTLOOK 120 East 16th Street

New York

RUST

TJJJM

Florida's Five Reasons

for 8%and Safety

Evidently, Mr. Lodge preferred stocks to bonds, and he bought common stocks rather than preferred. The companies include most of the great groups as conventionally named. There is the automobile group in the Budd stock; mining in two stocks; public utilities in two stocks; industrial in General Electric; and how shall we classify Otis Elevator and the stockyards securities? One might question the wisdom of such large blocks, but there is true diversification here. The list is worth pondering.

THE \HE five reasons for the 8% rate

Florida pays on first mortgage security are directly and clearly stated in a Trust Company of Florida pamphlet. We want to send this free to those who desire to investigate before they invest. Write for it today.

Invest in Florida at 8%
$100, $500 and $1,000 Bonds
Partial Payments Arranged

“BANKERS?” shares in the Ford Motor

Write

toy

TRUST COMPANY OF FLORIDA

Paid-in Capital and Surplus S500.000

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MIAMI

FLORIDA

Company of Canada continue to plague our readers. As we have pointed out before, the New York State authorities have run out of this State dealers in this dubious investment. Other States have yet to cope with it, as we note by a letter just received from a reader in Pennsylvania. This time the company which is trying to sell shares in an un

I want to know Florida's five reasons for 8% and safety.

Name

Street

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In writing to the above advertisers, please mention The Outlook

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doubtedly good stock at a very much inflated price is established just over the line, in New Jersey.

Caveat emptor!

S EVERAL recent inquiries of more than

individual interest to the inquirer are summarized in these letters from this department:

I "The stock of Libby, McNeil & Libby is regarded as a speculative stock at this time. American Woolen preferred is the stock of a very strong corporation. The textile industry, however, has been having difficulties, and the American Woolen Company has suffered. On the basis of the record of the last five years, its average income for the preferred has not been quite enough to pay it, and surplus was drawn upon.

"You could find a stock to invest in which would not have this element of uncertainty.”

II "The Miller Company is a sound company, and one on whose statements you can rely. We always urge our readers, when considering real estate bonds, to study carefully the description and base their judgment on such study.

“Whether the return on Procter & Gamble common

on present prices is attractive or not, it should be realized that a stock in a corporation of this kind is a partnership share in the business, with the opportunity of appreciation in value as the business grows with the growth of the country.”

III "In regard to the common stock of the Brooklyn City Railroad, this is not what we would call a high-grade investment stock. In the past the company has paid good dividends, and, of course, may do so again. If you can afford to hold a stock in which there is a moderate degree of risk, don't sell. If, on the other hand, without too heavy a capital loss, you can reinvest in something more conservative to even with less present earnings, do so.”

Build both together

The forward looking man builds up two incomes—one from his business or profession, one from his bond investments. If he has been wisely investing his surplus, he will have an income from his securities to fall back upon should his business income fall off at times. The more carefully he has invested, the more dependable this income.

Our offices in fifty leading cities are ready to help you build a second income through well-secured bonds.

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counsel says :

"In fact, the only States which may lawfully impose inheritance taxes, upon

In uriting to the above advertiser, please mention The Outlook

the death of the owner of shares of stock of the Atchison, Topeka, and Santa Fé Railway Company, are the State of Kan sas and that State in which the owner resides at the time of his death."

Arizona was one of the States we mentioned as sure to claim a tax. The general counsel points out that the Arizona law is patterned after that of Oklahoma and Illinois. “I have no doubt that the Arizona statute will be held either inapplicable to such transfers or invalid as being beyond the authority of the State,” he writes.

Atchison stockholders, cheer up!

PERHA

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As a furniture polish 3-in-One is su- Have Johnny get a bottle or Handy preme. Used properly, it removes dirt Can of 3-in-One on his next errand. and grime, produces a bright, dry polish At all good stores in 1-oz., 3-oz, and and preserves the finish.

2-pt. bottles and 3-oz. Handy Oil Cans. Teach your office boy to polish fur- The 12-pt. bottle is most economical. niture this way: Wring out a cloth in Contains most for the money. cold water. Apply a few drops of 3-in-One to the cloth. Rub a small surface of the

FREE Generous sample and Dicfurniture at a time, icith the grain of the

tionary of Uses. Request wood. Polish with a soft dry cloth.

both on a postal. THREE-IN-ONE OIL COMPANY, 130 LE. WILLIAM ST., NEW YORK, N. Y.

Factories : Rahway, N. J., and Montreal

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ERHAPS the following letter from this

department to a reader in Rhode Island will be of general interest:

"National Cash Register Preferred. This is the 7 per cent cumulative preferred stock of a very large and prosperous corporation. It is stated that over two and a quarter million of its machines are now in use and 'that its production is at the rate of 12,000 a month. Of the authorized issue of 20,000,000, there is outstanding 9,647,050. The stock is $100 par. Dividends are paid regularly. On the basis of the last four years' results, average income available for the preferred is $2,691,049 as against dividend requirement of $810,000. The equity of each share of preferred is $122.97. The stock is of high investment quality.

“United Drug First Preferred. This is a 7 per cent cumulative preferred in a strong and well-managed corporation. Authorized and outstanding, 12,500,000. Together with the small issue of noncumulative second preferred on the basis of five years' results, average income for dividends is $3,738,239 as against a dividend requirement of $2,049,000. Clearly an investment stock.

“Bigelow-Hartford Carpet Company, formerly the Bigelow Carpet Corporation. Another old-established and well-managed concern. The stock is a 6 per cent cumulative preferred, with 2,724,000 outstanding. On the basis of five years' results, the average income available is $2,838,966 as against the dividend requirement of $163,458. The equity is $643.34. Also a high-grade investment.

"Standard Oil of New Jersey. Without going into the details, which can easily be supplied, this stock (the preferred) is also a first-class investment.

"Preferred stocks of this type should form some portion of an investment fund. Some object to preferred stocks because of the limitation of dividend and the fact that such stocks do not appreciate as much as the common.”

An ANNOUNCEMENT by the Securities Sales Company of Florida THE THE First Mortgage Bond business of the Securities Sales Company

Florida, which was established in May, 1919, will be conducted henceforth under the name of the Security Bond & Mortgage Company, which will issue 6% Collateral Trust Gold Bonds, secured by guaranteed first mortgages. The Maryland Casualty Company, whose resources exceed $33,000,000, will guarantee unconditionally the principal and interest on the mortgages. The Maryland Trust Company, whose resources exceed $11,500,000, will act as Trustee of each bond issue. J. A. W. Iglehart & Company, with offices in Baltimore, Md.; Washington, D.C.; Wilkes-Barre, Pa., and Clarksburg, W.Va., have been selected as the Company's investment bankers.

The first issue of 6% Security Bonds to be issued under this ar rangement will be ready on November 1st. Orders, reservations or requests for further information should be sent to J. A. W. Iglehart & Company, 102 St. Paul Screet, Baltimore, Md.

(DENOMINATIONS $1.000, $500 AND $100. MATURITIES ONE, TWO, THREE, FOUR AND FIVE YEARS.)

in writing to the above advertisers, please mention The Outlook

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Tours and Travel
-EGYPT TRAVEL IN 1926
SICILY, NORTH AFRICA, SPAIN

Hotels and Resorts
California

Maryland
San Ysidro Ranch, Santa Barbara Annapolis, Mid.

Unharmed by Earthquake
Furnished bungalows of various sizes ; sit-

During the fall and winter visit historical old nated on the foothills among the orange

Annapolis. Delightfully quaint and quiet,

mild climate, beautiful country.Conveniently groves, overlooking the sea. Central dining

near Washington and Baltimore, on electric room, electric lights, hot and cold water.

car and motor coach lines, Sports, drills,

band Good temis court. Two miles from ocean and

concerts, etc., at the U.S. Naval Academy.
country club, six miles from Santa Barbara.
Booklet. Address

Carvel Hall
Manager San Ysidro Ranch, Santa Barbara the celebrated Richard Carvel mansion, offers

comfortable, modern accommodations. Spe

cial weekly or mouthlyrates. Send for booklet. Connecticut

New York City'
Leonard Home and

Sanitarium
ESSEX, CONN.

Hotel
Scientific care of semi-invalids, elderly or
nervous people in a comfortable home over-
looking Connecticut River. Spacious rooms
and porches; no hospital atmosphere. Physi-
cians in attendance. Very moderate terms.

With Dr. George H. Allen
Small party sails from New York

January 7, 1926

EGYPT
PALESTINE, SYRIA, GREECE, ITALY
Sails from New York January 16, 1926

Both tours include the
cruise of the Lotus, our own

private steamer on the Nile.
Write for illustrated booklet, now ready:

ROUND THE WORLD, January 6,

1926, with Arthur K. Peck. TO EGYPT, January 16, 1926, with Profes

sor Albert E. Bailey. TO NORTH AFRICA, February 25,

192 with Albert Kelsey, F.A.I.A. TO THE HOLY LAND, April 8, 1926,

with Bishop Shayler of Nebraska. TO EUROPE, March 6, 1926, eastbound by the Mediterranean route with shore trips at Madeira, Gibraltar, Algiers, and Monaco (Monte Carlo). Send for the booklet that interests you.

TEMPLE TOURS 447-A Park Square Bldg., Boston, Mass.

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SHERMAN
SQUARE

JULY AUGUST SEPTEMBER Comfortable Travel in Cool Countries

What you Want is a PRICE you can afford $555 $681 $849 $955 $1052 WORTHWHILE TOURS

Boston 30, Mass.

and

Wayside Inn Lichfield Co.. Conn.

tery of the Orient lures visitors from all over the world to

Litchfield Co., Conn. The foothills of the Berkshires. A restful place for tired people. Good food and a comfortable home. 2 hours from New York. Booklet A.

MRS. J. E. CASTLE, Proprietor.

JAPAN

"Where Broadurgy

Crosses 70SE."
Quiet, dignified atmosphere ; ser-
vice that is satisfying without be-
ing obtrusive; a restaurant which
serves superior food at moderate
prices; spacious, airy rooms; trans-
portation by subway, bus and trol-
ley in a few minutes to all theaters,
shops and railroads.

Furnished and unfurnished
apartments available on lease.

Write for rates.

EUROPE TRAVEL 1926
Conducted Parties. Independent Tours
MotorTours. Select Service. Lowest Rates

EGYPT-PALESTINE-ITALY
Feb. 20 & Mar. 31. 84 days. $1395, all expenses
STRATFORD TOURS 482 Falth Ave

New York

The quaiutest and most interesting of all
countries. Come while the old age customs
prevail. Write, mentioning "Outlook to
JAPAN HOTEL ASSOCIATION

Care Traffic Dept.
JAPANESE GOVERNMENT RAILWAYS

TOKYO

for full inforination
Rales for a single room without bath and with 3 meals,
$5-6 in cities and popular resorts, $4-5 in the country

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Hotel Webster

Special private tour to the

MEDITERRANEAN January 16

Party of 8 Also Ideal Summer Tour of EUROPE Reser Tours, 171 S. Oxford St., Brooklyn, N.Y.

DAYTONA BEACH

EARN FREE TOUR TO EUROPE

Tour prices reasonable. Write for particulars to EDUCATIONAL TOURS, Inc., 59 Prospect St., East Orange, N.J.

WANTED—3 ladies to form party
for winter and spring in European
Capitals. Comfortable trip. No haste.
Experienced chaperon. 4,503, Outlook.

FLORIDA Here winter is softened into a Northern spring. The world's finest beach—23 miles long, 500 feet wide-awaits you. Magnificent auto drives. Boating on the famous Halifax and Tomoka Rivers.

Widely varied fishing. Golf,
tennis, roque, lawn bowl.
ing. Daily concerts. Best
- accommodations.For book-
let address :
DAYTONA BEACH CHAMBER

OF COMMERCE
210 Chamber of Commerce Bldg.

Daytona, Fla.

(Near 5th Avenue)
EARN YOUR EUROPEAN TRIP by

organ

izing a small party. Write for particulars to
40 West 45th Street STRATFORD TOURS, 452 Fifth Ave., N. Y.

NEW YORK
Directly in the fashionable club and shop-

Earn Your Trip to EUROPE by securing
ping section. Within five minutes' walk to bers for one of my tours. Established 1900,
all principal theaters. A high-class hotel BABCOCK'S TOURS, Inc., East Orange, N. J.
patronized by those desiring the best accom-
modations at moderate cost.
Rates and map gladly sent upon request. South America Unique Adventure Tours

visiting the unusual,
Jan-Feb., 1926. Select Party. Booklet "T."

1 West 47th St.
202 West 103d Street
Within a few minutes of all New York
attractions. Comfortable rooms and
suites, exceptionally fine cuisine, and an

atmosphere that pleases particular people.
Write for Booklet O and Map of New York A Mart of the Unusual
Hotel Judson 53 Washington Sq., ANTIQUES forutoOLIDAY GIFTS.
Residential hotel of highest type, combining

hooked rugs, prints, pewter, trays, samplers,
the facilities of hotel life with the comforts of pink lustre, quilts, Stiegel and pressed glass,
an ideal home. American plan $1 per day and

silver. List.“ M. H. DODGE, Pawling, N. Y.
up. European plan $1.50 per day and up.
SAMUEL NAYLOR, Manager.

DELICIOUS! Home made Butter

Pure and fresh. $1 per pound, postpaid.

Mrs. 0. E. EBY, 812 North Main St., Urbana, 0.
Real Estate

EMPLOYMENT AGENCY SECRETARIES, social workers, superintendents, matrons, housekeepers, dietitians, cafeteria panagers, companions, governesses, mothers' helpers. The Richards Bureau, 68 Barnes St., Providence.

HELP WANTED

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COLLEGE bred young woman as councilor in girls' summer camp. Must have health, love for and understanding of girls and experience in their physical care.:6,502, Outlook.

EARN $110 to $250 monthly, expenses paid, as railway traffic inspector. Position guaranteed after completion of 3 inonths' home study course or money refuuded. Excellent opportunities. Write for free booklet CM-27. Standard Business Training Institution, Buffalo, N. Y.

HOTELS NEED TRAINED MEN AND WOMEN. Nation-wide demnand for highsalaried men and womeu. Past experience unnecessary. We train you by mail and put you m touch with big opportunities. Big pay, fine living, interesting work, quick advancement, permanent. Write for free book, "YOUR BIG OPPORTUNITY." Lewis Hotel Training Schools, Suite Y-5842, Washington, D.C.

Italy

Instruction THE EXCELSIOR GRAND HOTEL years high achicol!

STATIONERY
WRITE for free samples of embossed at $2
or printed stationery at $1.50 per box. Thou-
sands of Outlook customers. Lewis, stationer,
Troy, N.Y.

monthly allowance. Ideal living conditions. Tennis, surf bathing. 3 hours from New York. 8-hour day. ?X year course. Age 18 to 32;

Send for descriptive folder and application. Southampton Hospital Association, Southampton, Long Island, N. Y.

PERSONAL STATIONERY – Time to order Christmas boxes now. Using better pap-r and boxes, no change in price, $1. Hicks, Stationer, Macedon Center, N. Y.

Superior first class order

For Help Wanted, Situations Wanted, and
Miscellaneous Advertisements see next page

In writing to the above advertisers, please mention The Outlook

Contributors' Gallery Harold Trowbridge

ORRIN E. DUNLAP, JR., graduated Pulsifer

from Colgate University in 1920, and spent the following year at the Harvard Graduate School of Business Administration. Formerly a Marconi and United States Navy radio operator, he is now radio editor of the New York “Times" and corresponding editor in charge of radio for the "Scientific Ameri

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HELP WANTED INTELLIGENT middle aged Protestant woman to care for boy six. Pleasant suburban home. Nursing experience, French desirable. Box 1131, City Hall Station, New York.

REGISTERED nurse or experienced purse with at least three years of hospital training. Protestant, refined, 30 to 40 years of age, a woman of executive ability, who wishes a permanent home, without encumbrances, in a large, refined home. Highest references of character and ability. Hospital reference required or from forier employer... Persona! interview requested. Address“ Ability," Box 1204, Providence, R. I.

SALESMEN wanted. $10 daily easy. We start you in auto accessory business. No investment, no experience necessary. Exclusive territory. Motor Products Co., 1760 Lunt Ave., Chicago.

SEAMSTRESS and nursery governess, active and experienced, for boy 12 and girl at Summit, N. J. Good wages. Room 163, 40 Wall St., N. Y. Tel. John 4708.

WANTED-Educated woman 30 to 45. Duties: assist in managing house, supervision over servants, help with care of 10 year oli girl going to school. Family consists of busband, wife, 10 year old girl, and 16 year old boy. Three servants. Permanent position, comfortable home, and good salary to one with proper qualifications. Ability to select, hire, and manage servants essential. Location, suburbs of Philadelphia. State age, qualifications, and references to 6,503, Outlook.

can.”

E
LIZABETH WASHBURNE Wright (a

well-known American writer) is one of the foremost authorities on the opium traffic and has often represented the United States at international conferences dealing with this subject.

A

RCHIBALD RUT-
LEDGE,

whose human and appealing nature articles have so often appeared in The Outlook, lives in Mercersburg, Pennsylvania. He was born and brought up in

Charleston, South Carolina, and is a sympathetic and discerning student and interpreter of the American Negro, and of Southern life and customs. Mr. Rutledge is the author of nine volumes of poetry and prose.

By the Way

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SITUATIONS WANTED A clergyman is free to accept a pastorate or, preach as supply. Yale alumnus. Has scholarly tastes, à pleasing personality, and a Gospel message. Compensation for a single Sunday optional. Salary and location secolidary considerations. 6,504, Outlook.

AN experienced teacher (man) would like position as companion-tutor for invalid boy. Reader and story teller. Willing to go South. 6,508, Outlook.

COLLEGE-bred, experienced governess wishes position with family going abroad. Higliest references, 6,474, Outlook.

DIETITIAN, domestic science training, several years' experience, interested in catering, would like position in club or tea room. 6,506, Outlook.

EXPERIENCED woman desires position as cafeteria manager. 6,507, Outlook.

MANAGING housekeeper, experienced, refined, educated. 6,512, Outlook.

MARRIED man, forestry training, desires permanent position as caretaker ou private estate. 6,498, Outlook.

NEW York trained nurse desires position as housekeeper-companiou, charge of motherless child, or any suitable permanent position. 6,497, Outlook.

NURSE desires position as companion-secretary to lady. Willing to travel.

References. 6,501, Outlook.

POSITION.-Would like to go to Florida. Consider light housework, companion, or care of children. References. 6,510, Outlook.

PRACTICAL nurse, competent and experienced, desires position as companion or nurse for elderly person or child going South for the winter. Best references. 6,513, Outlook.

REFINED woman desires position as com panion to young or elderly woman would manage househoid, do secretarial work. Excellent references. 6,483, Outlook.

SOCIAL private secretary, cultured, much experience in European family of high social standing, age 34. Secretarial Placement Bureau, 500 Fifth Ave., New York.

STENOGRAPHER. Experienced woman stenographer and notary public desires position Pittsburgh. 6,505, Vutlook.

WANTED, by elderly couple, position as caretakers. References. 6,484, Outlook.

YOUNG woman (Swiss), knowing French, German, and English, seeks position as companion or governess. Excellent references. Josephine Dossenbach, 337 Allaire Are., Leonia, N. J.

YOUNG woman, university graduate, de sires afternoon stenographic or secretarial position in New York City. 6 511, Outlook,

FROM
ROM “Good Hardware:"

Restaurant Manager (to orchestra conductor)—“I wish you'd display a little more tact in choosing the music. We've got the National Association of Umbrella Manufacturers here this evening, and you've just played 'It Ain't Gonna Rain No More'!

From the “Fishing Gazette:”

Johnny came home proudly showing a dollar that he said he had found on the street. “Are you sure it was lost?” his father asked. “Yes, I know it was," Johnny replied. “I saw the man looking for it.”

From the "Pointer;"

A Russian was being led off to execution by a squad of Bolshevik soldiers on a rainy morning.

“What brutes you Bolsheviks are,” grumbled the doomed one, "to march me through a rain like this!”

“How about us?” retorted one of the squad. “We have to march back.”

MISCELLANEOUS TO young women desiring training in the care of obstetrical patients a six inouths' purses' aid course is offered by the Lying-lo Hospital, 307 Second Ave., New York. Aids are provided with maintenance and given a montbly allowance of $10. For further particulars address Directress of Nurses.

UNUSUALLY comfortable accommodations offered a nervous or convalescent patient in doctor's own home. Finest medical attenstion, under owu physiciau's direction if de sired. Further particulars and references furnished on request. S. Mary Ives, M.D. 230 Washington St., Middletown, Conn.

EXPERIENCED trained nurse, with pleasant Long Islaud liome, will board nervous child needing special care. Terms - reasonable. 6,418, Outlook.

"MAKE-believe” sister wanted, domnestie, cultured, middle-aged, to share lonely wa man's home on fifty-fifty basis. 6,493 Outlook

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Answer to last week's riddle: Judges xvi. 29, 30.

An Autographed Copy for You ! Mr. Pulsifer has kindly volunteered to autograph special copies of this book for those who accept the offer which appears below. The offer is limited, however, to subscribers

Simply mail the coupon to

Attractively bound in blue cloth with silver stamping, printed on heavy paper. MAIL THIS COUPON

The Outlook Company, | Book Division, 1 120 East 16th Street, New York.

You may send me my copy of "Glory o' the | Dawn," by Harold Trowbridge Pulsifer, spe

cially autographed by the author. Upon receipt I I of it I will pay the postman $1 plus a few

cents for postage. I any reason, I will return it at your expense I the money I have paid.

1

of The Outlook.
day. Send no money now.

If I am not satisfied for

with the understanding that you are to refund

Name

1 1

Address

I City

State..

Ont. 11-11-25

In writing to the above advertisers, please mention The Outlook

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