October 27, 1926 or bad or in betwixt and between according as it tends to accomplish its purpose or not. And the purpose of an investment depends, necessarily, on a large variety of circumstances, among which are, of course, the financial situation, present and future, of the person for whom the investment is made. With this general principle in mind, we can discuss the matter in hand without risk of being seriously misunderstood. There is one type of security which should not be bought for a minor without certain precautions. I mean stock. The objection has nothing at all to do with the desirability of common or preferred stock as an investment. The reason is that stock has to be issued in the name of an individual, and, in most States, a minor is not, legally, an individual when it comes to the possession of property. Transfer agents as a rule cannot and will not, knowingly, issue a stock certificate in the name of a minor. Should a certificate be so issued in ignorance of the status of the and owner, should the attempt be made later to sell it, there will be difficulties in effecting the transfer. The theory is that a minor cannot own property except through a guardian or a trustee, and hence cannot dispose of property placed in his name. If, therefore, one makes an investment in stock for a child, it is the part of wisdom to inquire about this vitally important aspect. It could occur that stock, issued accidentally in a child's name, had to be sold at short notice to save the capital. Unless all legal requirements could be met this sale could not be carried through. The savings bank and the building and loan associations are an exception to this rule, because they issue pass-books and shares, as the case may be, in the name of minors. In such cases, however, the name or names of the parents are noted and it is understood that the parents are the guardians and have the ultimate say about the account till the minor becomes adult. Generally speaking, the main object of an investment for a child is to provide for education, and to provide for that, moreover, out of principal. typical case is this: A S the result of 53 years of proven safety in real estate first mortgage investments, The F. H. Smith Company has gained the confidence of investors throughout the world. Men and women in every state of the United States and in 33 countries and territories abroad, have selected Smith Bonds as the ideal investment for their funds. This 53-year record of proven safety has been established, and the confidence of these thousands of investors has been gained, because Smith first mortgages are conservatively made. The building sites must be chosen with a view to future as well as to present values; the buildings designed by skilled architects and constructed by responsible builders; the locations and types of building must be selected in response to a well-established rental demand; and the first mortgages are made only for safe, conservative percentages of valuations determined by independent, expert appraisers. Then, for the further protection of investors in Smith Bonds, part of each issue is paid off annually, thus constantly increasing the margin of safety. In buying Smith Bonds, you are dealing with one of the oldest and largest real estate bond houses in America; you are securing for your funds the safeguards maintained by a house which has demonstrated its good faith and integrity, its technical knowledge and practical experience; which has ample resources and extensive facilities; and which has protected its investors against loss for 53 years. Send your name and address on the form below for our booklets, "Fifty-three Years of Proven Safety" and "How to Build an Independent Income" and for descriptions of current offerings. 61% Current offerings of Smith Bonds, secured by first mort- You may invest outright in $1,000, $500 and $100 denom- The F. H. SMITH CO. A PHILADELPHIA An uncle gives $5,000 to put a favorite nephew through college. At the time ten of the gift the boy is, let us say, It is calculated that this years old. sum of money at 5 per cent compounded for eight years will bring in about $2,500, so that the total fund available before the college course is completed PITTSBURGH FOUNDED 1873 BOSTON BUFFALO ALBANY SMITH BUILDING・ WASHINGTON, D.C. NEW YORK CITY 582 FIFTH AVENUE Name.... Address..... MINNEAPOLIS 6-T will be not far from $8,000. Let us see In the first place, although this is not What is the ideal investment medium for such a fund? Since the principal is to be conserved and since income is less important than principal, the character of the investment is determined without a great deal of difficulty. The money must be available at a definite time. For this reason it would seem that the choice lies between bonds, savings banks, and building and loan shares, or a combination of the three to give diversity. Seasoned preferred stocks might be considered, and if the fund were larger common stocks would be possibilities. The temptation to gain higher yields than the most conservative investments will give must be sternly avoided. It is also well to remember in picking bonds that bond prices fluctuate with interest rates, so that the bonds bought should bear maturities at or near the date for the need of the principal of the fund. Much of what has been said above applies with equal force to a fund to be held for a child and given to him on, say, his twenty-fifth birthday. But we cannot too strongly emphasize the fact that the average man will both relieve himself of a burden and discharge his trust more effectively if he secures the services of a trust company to take the custody of the fund and to advise and counsel him as to investments. From Inquiring Readers WOULD appreciate," writes a reader in Iowa, "your opinion as to the advisability of buying new Chase National Bank stock now. I have the figures as to deposits, earnings, dividends, etc., but I would like to know what the best-informed people think of the future of the institution. Is it likely to be one of the biggest, strongest, and safest of the New York banks, and to increase in value and earning power? Was in price, and, while it is impossible to forecast fluctuations, we should say that the probabilities are that the value will increase over a period of years rather than decline. For these reasons we cannot answer directly your question as to whether this is the best time to buy. In a sense, a sound investment stock is almost always a good buy for the 'long pull.'" the combination made because of any AL weakness of either institution? Is now a Before repeating our reply to this in- "The Chase National Bank is one of the strongest financial institutions in New York-in fact, in the country. The recent consolidation, so far as we can learn, was in no way promoted by any degree of weakness in either of the two banks which joined forces. "Bank stocks are usually fairly stable LONG with other textile securities, some of those of the American Woolen Company have not given their owners the most cheerful possible feeling in recent months. What we wrote to an inquirer in New York may help some one else to form his or her decision: "The story of the American Woolen Company is difficult to compress in small space. This corporation is suffering from one of the periodic depressions which occur in the textile industry and also, internally, from the effect, as we see it, of over-expansion under a management which has now been displaced. Long one of the leaders in its field, it would seem highly probable that American Woolen will 'come back,' but the date of its return is hard to forecast. It has a magnificent property which should yield good returns to its stockholders if, as, and when the depression is over and conservative, frugal management asserts itself." In writing to the above advertiser please mention The Outlook Hotels and Resorts Bermuda Grasmere Hotel Ideally and cen- WHITE HOUSE INN trally located. Private golf course and beach. For details write direct or Outlook Travel Bureau. Sharon, Conn. Two suites of two rooms each, with connecting baths and open fireplaces, in a delightful colonial honie are available for elderly people, semi-invalids or other persons of discriminating tastes who wish a year-round home without the responsibility. Rooms may be taken in suites or separately with a private bath for each room. Table and service that of a refined home. Prices from $50 a week for each person. Miss MARY L. CARTER. District of Columbia GRACE DODGE Situated near the Capitol New Mexico RANCHO ANIMAS A year-round playground, 4,712 feet elevation. Beautifully situated. Select clientele. Delightful comforts. Horseback riding, motoring, pack trips Mexico. Details Outlook Travel Bureau, to JOHN'T. MCCABE, Animas, New Mexico: New York City Hotel Judson 53 Washington Sq.. New York City Residential hotel of highest type, combining the facilities of hotel life with the comforts of an ideal home. American plan $4 per day and up. European plan $1.50 per day and up. SAMUEL NAYLOR, Manager. New York Beacon-on-Hudson RIVERVIEW Delightful rest and convales cent home. Spacious grounds, wholesome food. Booklet. Write direct or 6,477, Outlook. Ross Sanitarium, Inc. Brentwood, Long Island Ideal for the care of invalids, convalescent and elderly persons. No objectionable cases. No insanity. Homelike atmosphere. Pleasant surroundings. Good food. Excellent climate. Nursing and medical attention. Guests of patients accommodated. Board-Rooms A home in Northampton, Mass., vailable in delightful private seat of Smith College, suite two rooms with fireplace, private bath and sleeping-porch. Especially desirable for mother with daughter in college or elderly woman who wishes fine home with excellent meals. If wished, single room with sleeping-porch and private bath. Beautiful grounds and wonderful view. 6,591, Outlook. COUNTRY BOARD Lady of refinement and education will share home of modest comfort, warmth, light, good food, with 3 or 4 ladies or gentlemen. Only lovers of real country will appreciate this opportunity. References. 6,575, Outlook. Tours and Travel Major Blake's Automobile Tours Complete European service. For booklets, details, write Outlook Hotel & Travel Bureau. Free Trip to Europe will be given if you se cure four paying members for one tour. Established 1900. BABCOCK'S TOURS, 136 Prospect St., East Orange, N. J. Hotel LENOX,North St., west of Delaware Wallace Services-Rome Barberini Buffalo, N. Y. Superior accommodations: famous for good food. Write direct or Outlook's Bureau for rates, details, bookings. WRITE for free samples of embossed at $2 or printed stationery at $1.50 per box. Thousands of Outlook customers. Lewis, stationer, Troy, N. Y. PERSONAL STATIONERY-200 single 6x7 or 100 double sheets, 100 envelopes, $1.00. Get Christmas orders in early. Work guaranteed. Hicks, Stationer, Macedon, N. Y. EMPLOYMENT AGENCY SECRETARIES, social workers, superintendents, matrons, housekeepers, dietitians, cafeteria managers, companions, governesses, mothers' helpers. The Richards Bureau, 68 Barnes St., Providence. HOTELS NEED TRAINED MEN AND WOMEN. Nation-wide demand for highsalaried men and women. Past experience unnecessary. We train you by mail and put you in 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 C-5842, Washington, D. C. WANTED, by widow living alone, refined woman as working housekeeper. Must be well and able to cook. One other helper kept. Attractive permanent home to right person. 7,331, Outlook. SITUATIONS WANTED AMERICAN, middle-aged, executive training, traveled, active, energetic, excellent health, experienced, as hostess-housekeeper, traveling companion or chaperon, sorority or fraternity house. References exchanged. 7,320, Outlook. AMERICAN woman, wide experience, would accept responsible home position. 7,325, Outlook. CAPABLE teacher of long experience wants tutoring or teaching position. Yale graduate. Free to go anywhere. 7,328, Outlook. RESIDENT BOARDMAN, of Maine Univergraduating class in order to illustrate his point that one should work hard, but one should occupy himself in useful work: "There is a fable which runs this way. The tourists, having lunched at the hotel, climbed to the top of Mount Baldface. There they saw a hale old man sitting on a rock with a telescope a yard long in his hands. Every few minutes he would let out a series of loud whoops. The whoops resounded through the defiles of the mountains. Plainly the old man's lungs were in a wonderful state of preservation. The puzzled tourists looked and listened for some time. Then they went up to the old man, and their leader said: 'Why, old friend, do you peer so anxiously through your telescope, and then cry aloud as if in pain at what you see?" The old man frowned at the tourist, and answered impatiently: 'If you talk to me you'll distract my attention and I'll lose my job. I'm the echo for this district and'- Here he looked through his telescope again, and sent forth a long succession of resounding whoops." Referring to the mention in Don C. Seitz's recent article in The Outlook on "Mountain Folks" of a hand pointing upward on a tombstone, plus a questionmark, a valued correspondent in Bradford, Vermont, writes: "There is a headstone in this town with a hand pointing downward and over the hand the words 'Gone Home.' And, alas! there is no question mark." Bob Benchley tells a story about a man who went to a bakery and asked the baker whether he could bake him a cake in the form of the letter S, and the baker said, "Yes, but it will take several days." "Very well," replied the man. Four days later he came in to see the cake, but when the baker showed it to him he said: "Oh, that is a script S; I forgot to tell you that I wanted it in the form of a block-letter S." So the baker said: "Very well; but it will take two days more." So the man came back two days later, and the baker showed him the cake, and it was what the man wanted, and he said, "Yes, that is exactly right." So the baker said, "Where shall we send the cake for you?" And the man replied: "Oh, never mind that; I'll eat it right here." Upon noticing the fake "United States Prohibition Enforcement Agent" badge on SITUATIONS WANTED COMPANION for lady of refinementhome or travel in America-after 15th of November. 7,829, Outlook. COMPANION or secretary. Cultured woman, registered nurse, secretarial experience, wishes position to travel in Europe. References given and required. Miss Bess B. McCormick, 3416 Race St., Philadelphia, Pa. COMPANION-secretary to elderly lady or couple. Lady of education and refinement, good reader, competent, executive. Willing to travel. Best references. Services available immediately if desired. 7,335, Outlook. COMPANION. Young woman, Virginia born and bred, now in New York, desires position with woman of culture in or near city. 7,327, Outlook. GOVERNESS, college education, Protestant. French, German. Fifteen years' successful experience with children. Excellent references Paris, New York, Philadelphia. Miss Moeller, 1133 Rising Sun Ave., Philadelphia, Pa. GOVERNESS, mother's assistant. Educated, experienced woman. Good sewer. 7,324, Outlook. LADY, experienced, capable, desires posi tion as housekeeper to elderly couple. 7,333, Outlook. MANAGING housekeeper, experienced, educated, refined. 7,332, Outlook. By the Way the cover of The Outlook of October 13, a New York banker said to an Outlook representative, "Where can I get one of those badges? A friend of mine has one, and is admitted in any New York night club, with all cover charges waived." He: "I'd like to know why you don't treat the servants like you treat me." She: "Why, they would leave at once if I did!" From "Punch:" A military expert predicts that the next war will be fought by wireless. From what we heard the other night, we had the impression that it had started. From "Penn Punch Bowl:" New maid: "I found this purse upon your desk, sir." Junior: "I must reward you for your honesty. I left it there purposely as a test." New maid: "That's what I thought, sir." An Associated Press despatch from London states that England has turned from cross-word puzzles to Peter-Piperisms. Peter-Piperisms are alliterative sentences containing at least eight and not more than twelve words, each of which begins with the same letter. "Since short skirts still seem stylish, silk stockings shouldn't sag," is the contribution of one alliterative expert. Another hopes, "May many more manly miners migrate, marry methodical maids, make much money." Others are: "Mr. Manager, money might make Maud marry my miserable Max.-Max's Mother." "Stephen, shyly stroking Sylvia's shining shingle, seemingly surmises smiling Sylvia's single." "Lilly likes licking limp licorice." From the Boston "Transcript:" Mannishly dressed lady: "Did you catch any fish, little boy?" Country boy: "No." Mannishly dressed lady: "No, what?" Boy (gazing dubiously at her rig): “I—I don't know." "This is a genuine skunk fur, madam. We guarantee that it will wear for years and years." "But suppose," replied the lady, "I get wet in the rain. Won't the water spoil it?" "Madam, did you ever hear of a skunk carrying an umbrella?" NURSERYgoverness, companion to elderly lady, or housekeeper, supervising, by edu cated, cultivated woman where qualifications will have worthy remuneration. 7,330, Outlook. OPPORTUNITY travel West caring for children or invalid. References exchanged. 7,321, Outlook. RELIABLE woman wishes position as housekeeper. Capable of assuming charge of home and help. 7,322, Outlook. WANTED-Position as companion-nurse. References exchanged. 7,326, Outlook. WELL-educated, experienced governess, capable, successful, wishes city position. 7,313, Outlook. MISCELLANEOUS TO young women desiring training in the care of obstetrical patients a six months' nurses' aid course is offered by the Lying-In Hospital, 307 Second Ave., New York. Aids are provided with maintenance and given a monthly allowance of $10. For further particulars address Directress of Nurses. EXPERT help for all kinds of club papers. Satisfaction guaranteed. Terms reasonable. 7,262, Outlook. TEA room for sale-one block from Washington's finest hotel. 7,334, Outlook. A Japanese girl in Shimane Prefecture, we believe, has the longest name in the world. She is called "Maronakikusurouyayechiyoko Sawai." "My father had no son or daughter," she says in explanation, "and, being a Shinto priest himself, used to offer prayers asking that he be favored with a child. "The god responded to my father's request and I was born. But before I was born my father wished that the baby would be a boy, while my mother hoped for a girl. "Both father and mother prepared names for me. Father picked out a good name for a boy and mother also a good name for a girl. "When the baby was born, it was a girl. My father refused to give up that boy's name and my mother insisted on her girl's Finally they agreed to mix up the two names with their own and here I am as Miss Maronakikusurouyayechiyoko Sawai." name. There seems to be something missing in this sentence taken from the Independence (Kansas) "Daily Reporter:" Mrs. Jewell sang a solo without the aid of the organ, which went to the bad early in the services, and the singing by the congregation was also without music. One of the recent banquets at the Hotel Astor in New York City was called a "speechless dinner." The usual addresses were printed and distributed to the four hundred diners. A worthy precedent. From "Capper's Weekly:" Mrs. John: "Why did you give that check boy a dollar for a tip just to get your coat? You surely throw your money around!" John: "Yes, dear, but look at the coat I got." A package shipped by air mail from San Francisco to Philadelphia bore one hundred and fifty dollars' worth of stamps. This is said to have established a new high record for postage paid on a single parcel. Here is another anagram. Five words of six letters each are needed to complete it. Each word contains the same letters. Answer next week: In writing to the above advertisers please mention The Outlook PRESS OF WILLIAM GREEN, INC. A By the Way TRAVELING Outlooker reports that oyster stews cost but 35 cents in Pittsburgh, against 60 cents in New York. Yet the smoky city is nearly five hundred miles from the bivalve region, which lies at New York's front door. He also reports that ham and eggs do not consort on the hotel menus. "Ham and an egg" go together, but not eggs. If two are desired, they appear as a separate item on the bill. Mrs. A. K. Herrick, of Granville, Ohio, writes us of the following odd sign which she noticed tacked above the slot for receiving mail in a small New Mexican post office: LETT ERB OX Newly-wed, to the real estate salesman who is trying to sell her a home: "Why buy a home? I was born in a hospital ward, reared in a boarding-school, educated in a college, courted in an automobile, and married in a church; get my meals at a cafeteria, live in an apartment; spend my mornings playing golf, my afternoons playing bridge; in the evening we dance or go to the movies; when I'm sick I go to the hospital, and when I die I shall be buried from an undertaker's. Why should we buy a house, I ask you? All we need is a garage with bedroom." Doctors deny the charge of using bad judgment in their selection of receptionroom magazines, according to the "New Yorker." The doctors are quoted as saying that their selections are intelligent, but that their patients quickly carry away all offerings of merit and leave but a ridiculous residue. "This," comments the "New Yorker," "is unquestionably a disclosure of high importance, since it will give us all greater confidence, not only in the taste of the medical profession, but in that of the public." Huckleberry Pendleton is a well-known character in Wiscasset, Maine. Not long since, shortly after dusk, an acquaintance found him prone by the roadside, moaning. "What's the matter, Huck?" he inquired. "I'm ruptured," replied the unfortunate one. "Heard it snap. Get me somewhere so's I kin be taken care of." He was assisted home and a doctor called. The next day the samaritan met the physician. "How's Huck's rupture?" he queried. "Rupture, nothing!" was the response. "Huck only busted off a suspender button." A recent survey of the relative popularity of syndicated cartoon strips and theatrical letters showed the "Andy Gump" comic strip in first place, with over 400 newspapers buying the rights. "Bringing Up Father" and "Mutt and Jeff" received second and third places, respectively. The most popular Broadway theatrical criticisms which are syndicated throughout the country were rated in this order: Burns Mantle's reviews, Percy Hammond's letter, and Mark Hellinger's column "Along Broadway." The Chicago "Daily News" wonders if "all those people that have been wearing Helen Wills eye-shades will now be breaking out with Ederle goggles?" "I say, Doctor, did you ever doctor another doctor?" "Oh, yes." "Well, tell me this: Does a doctor doctor a doctor the way the doctored doctor wants to be doctored, or does the doctor doing the doctoring doctor the other doctor in his own way?" "Oh, miss, I have made a mistake in this passport. I have put your hair down as fair, and it is dark." "Oh, that is too bad! Will you rectify it -or shall I?" From "Life:" Lady (learning to drive): "But how can I think of what to do?" Instructor: "Just imagine that your husband is driving." "That's nothing," said the student as he saw the professor put a zero on his examination paper. Here is a contributed tongue twister which we have never heard before: If a Hottentot tot, taught a Hottentot tot to talk e'er the tot could totter, ought the Hottentot tot be taught to say aught, or naught, or what ought to be taught her? If to hoot and to toot a Hottentot tot be taught by a Hottentot tutor, should the tutor get hot if the Hottentot tot hoot and toot at the Hottentot tutor? We do not expect to print any more tongue twisters for some time to come, but we cannot resist asking you to say "Troy boat" several times-very fast. A respected citizen of Kennebunk, Maine, has suffered of late from a slipping of the intellect, which has caused much concern among his family and friends. One of the latter, meeting the afflicted man on the street, asked after his health. "You know," he replied, "I've lost my mind. But I don't miss it." Pittsburgh An advertisement in the "Post" of October 17 reads: "If you care to have a dog you cannot see every day, a dog you will love, buy a dachshund." Personally, if we had to own a dachshund, we should prefer one we could not see any day. From the New Orleans "States:" A prominent New Orleans man aboard a ship leaving New York for Europe called the steward and asked: "Are we outside the twelve-mile limit?" The steward said they were. "Can I get anything I wantcocktails, whisky, wine-anything without violating the law?" He was told that he could. "Then bring me a lemonade." An examination of an October issue of The Outlook (then The Christian Union) of exactly fifty years ago discloses a leading editorial summarizing the Rev. Joseph Cook's lectures on the theory of evolution, concluding with the advice that every minister should study the theory of evolution, for "ignorance will make him either timid or dogmatic." A charade taken from The Christian Union of October 25, 1876, will, we warrant, puzzle many to-day. Answer next week: My first is seen in all its pride On summer nights, when bright and clear; O'er hill and dale I beauty throw; year; I shall not give you further clue, Answer to last week's anagram: "Priest," "stripe," "sprite," "ripest," and "esprit." |