62 NCE an investor in our host of satisfied clients who For over half a century we Smith Bonds have become universally recognized for their safety and attractive interest return; they are issued in denominations of $1,000. $500. $100. and yield 6% to 6%. Become a satisfied investor Ask for Booklet "6-43" Our Mail Service Department No matter where you may be you can The F. H.SMITH CO. moned his attorney and made a new will. He left large bequests to his wife and children and to a few near relatives. He left a substantial sum to be divided among his servants, without mentioning any specifically by name. Finding that after these provisions at least $200,000 remained undisturbed, he left the residue of his estate, offhand, to two of his cronies, both men of very large means. He died of typhoid while on the trip. His provision for his immediate family was fair and just. But in his hurry he forgot that the widow of his first cousin was living in very reduced circumstances and that even a part of the $200,000 he passed over so lightly would have made a vast difference in her life. His provision for his servants was unjust, as it made no distinction between those who had been with his family for years and those whose employment might be merely temporary. The most deserving of all, his old gardener, got nothing, because the Court decided that under the terms on which he was hired he could not be classed as a servant. Another trouble with the hasty will is that the testator very often fails to get clearly in mind what he intends to do. A case in point is a will at present before the courts: The testator leaves a sum of money to his nieces, Mary and Marion-or, in case of their death before the provision for their benefit would take effect, provides that the legacy "shall be given to and divided equally between the children then of either of them surviving." Does this mean that the property which should have gone to them had they lived should be divided into two equal parts, and hence to their respective children, or that it should be divided into as many parts as there were children? Supposing that Mary had one child and Marion six, would Mary's child get one-half or one-seventh of the property? So much for wills made in haste. Case after case could be cited where kindly and considerate men did cruel things unconsciously, simply because they didn't take time to think. IT The Angry Will T seems natural to a man to make his will when he is in a towering rage, and the angry will is very often the worst of all, because its injustice is usually worked on some one very near the testator his children and immediate family. The fact that such a mood usually soon passes and cooler judgment leads to revocation doubtless keeps the great majority of such wills from reaching the probate courts. But by no means all. The recent death of a New York man in a motor accident brought out the fact that he was driving to his lawyer's office to revoke a will he had made a few days before. In a fit of rage over his daughter's refusal to give up her marriage to a young man he disliked, he had disinherited her. He saw the cruelty and injustice of his act, but death prevented his undoing the wrong. W The Sick-Bed Will ILLS made during extreme illness furnish many convincing arguments for attending to this matter when in full vigor of mind and body. When we are weakened or racked by pain, it is impossible to decide wisely the disposition of our property, or perhaps even to remember those whom we have intended to receive our bequests. It is fair to assume that an elderly Boston gentleman who died in the Far West intended to leave a substantial sum of money to the son of his former butler and his collection of Mexican pottery to a friend, a collector, like himself. His will, however, left the money to his friend, and a young man who lived in The Outlook for one room in a boarding-house received huge crates of pottery. Contrary to a popular impression, the proportion of wills that are successfully contested to those that stand is very small. In one large probate district it is said that less than one per cent of the wills probated each year are disallowed. Yet there are innumerable instances of specific clauses in wills which are "thrown out," and in practically every instance their failure can be traced to the mood of the will-maker at the time, to the temporary influences to which he was subject, or to the fact that he didn't do the thing which is at once the easiest and the hardest thing in the world, namely, to plan carefully and with a clear head what he wished to say, and then to say it in unmistakably plain English. W. L. S. To Inquiring Readers A Good List— 7 shares North American common, 2 shares North American preferred, 25 shares Mountain State Power and Light, preferred, 90 shares Standard Gas and Electric Company, preferred, 19 shares Standard Gas and Electric Company, common, 100 shares Union Carbide and Carbon, common, 8 shares White Rock Mineral Springs, first preferred, 1 share White Rock Mineral Springs, second preferred, 7 shares Northern Ontario Light and Power, preferred, 18 shares Commonwealth Power Corporation, preferred, Forty shares National Power and Light, preferred, Seven shares American Gas and Electric, preferred, 28 shares General Electric, common, $2,000 Sierra and San Francisco 5 per cent Bonds, due 1949, $50 Liberty Bond, First, 4/4S, 70 shares Piggly Wiggly Company, preferred, 50 shares Piggly Wiggly Company, common. "This," we commented, "is a very good list and contains no really weak spots. Of course, some people feel that there is a certain degree of risk in holding industrial common stocks, but with such sound companies as you have we can see no undue risk. We are glad to note the size of your holdings in General Electric and Union Carbon and Carbide, both of which are excellent stocks. September 14, 1927 "The only suggestion that we would make would be to check up the market on some of your preferred stocks and, if they are selling at or near call price, sell and buy good investment common stocks or the shares of a good investment trust." Some Good Bonds 1. City Ice Company of Kansas City, First, Series A, 6s, due 1940. An issue of $1,715,000 secured by property valued at $4,000,000. The business carries with it valuable contracts. Interest earned by good margin. Rating Bxx. A 2. Interstate Public Service Company, First, Series D, 5s, due 1956. Secured by a general mortgage on the property of the company plus a pledge of a 999year lease and underlying bonds. population of over 350,000 served. Interest earned twice in 1926 and about 1.6 times in previous years. Rating Bxx. 3. Monongahela West Penn Public Service Company, First and Refunding, Series B, 52s, due 1953. Secured by a direct and general mortgage, as well as by a pledge of underlying bonds. Interest earned 1.78 times in 1926. franchises. Rating A. Good 4. Pickering Lumber Company (Del.), First Sinking Fund, Series A, 6s, due 1946. Secured by a first mortgage on timber equal to 100 per cent of the bonds and a mortgage on additional assets for another 100 per cent, these ratios to be maintained. Earnings not yet available, as business is a recent consolidation. Rating Bxx. 5. Wisconsin Power and Light, First Lien and Refunding, Series C, 6s, due 1944. Secured by a first mortgage on the entire property of the corporation plus a pledge of $8,670,000 underlying bonds. Interest earned 2.23 times in 1926. Legal for savings banks in Rhode Island. Rating Bxx. 6. West Ohio Gas, First and Refunding, Series A, 6s, due 1954. Secured by a first mortgage on entire property. Interest earned twice. Rating Bxx. 7. Milwaukee Northern Railway Company, First 5s, due 1961. This corporation is controlled through stock ownership by the Milwaukee Electric Railway and Light Company. The mortgage is secured by a street railway in Milwaukee and an interurban from Milwaukee to Sheboygan. During the last five years. the interest was earned on an average over two times annually. Rating Bxx. 8. Long Bell Lumber Company, First, Series B, 6s, due 1953. A mortgage similar in essentials to that of the Pickering Lumber Company-200 per cent security. Interest earned 2.86 times in MUSCL LUSCLE Shoals frequently is singled out to illustrate the potential industrial wealth of Alabama and the South. It is just one of the many power resources which are fast developing Alabama among the greatest of electrical states in the Union. Its superabundance of water power and water transportation is surpassed in no other state. But "white coal" is only one of the great natural advantages of Alabama. This Southern state is third in the production of coal and fourth in lumber in the United States. Inexhaustible deposits of native iron feed the great mills of Birmingham; native asphalt smoothes the way for heavy, all-year Chicago traffic over fine, state-wide roads; exceptional diversity of agriculture feeds sumptuously a growing industrious population. The increasing realization of the developing wealth in Alabama is but one reason for the increasing demand of American investors for sound Southern securities. It is plain that Southern progress, fast building on solid foundations, provides the basis for decidedly attractive investments. This house, which long has assisted Southern financing, is intimately familiar with the securities of sound Southern enterprise. Suggestions-diversified or for special requirements are gladly made to investors and institutions upon request. CALDWELL & COMPANY 501 UNION STREET, NASHVILLE, TENN. 63 Louisville Chattanooga New Orleans Birmingham Jackson Tampa Jacksonville Houston ROGERS CALDWELL & CO., INC., 150 Broadway, New York FACTS FOR INVESTORS The Outlook's Financial Service Department is at THE OUTLOOK, 120 East 16th Street, New York City Actually HELP WANTED FAMILY living in country (near Albany, N. Y.) nine months of year are desirous of securing services of young Protestant Amerwoman having experience teaching Meet Him! The Wayside Inn Pine Ridge Camp Act pallos. Med children. To take charge and teach two Distinctive Journeys Near East-Sailing September 20. 92 days, Constantinople, Cairo, Jerusalem, Angora, Khartum, and off the beaten track places of interest. Round the World-Sailing October 15. 173 days, timed for events and season-Chrysanthemum Season in Japan-Easter in Pales New Milford, Conn. At foot of Berkshires Ideal for long stay or week-end. Bright, airy rooms; all modern improvements. Scenic beauty, health, good living. 80 miles from New York. Mrs. J. E. Castle, Prop. Florida tine, etc. Contacts with leaders of various Winter Park, Florida nations. the Mediterranean and West In Hotel Judson 53 Washington Sq.. dies. Steamship passages booked on all lines. No service charge. Board WANTED One to three boarders, Sept., Oct. Modern bathroom, electricity, fireplaces. In beautiful valley, near village and railroad station. Interesting walks. The Mary Louise Tea Room, East Dorset, Vt. Rooms to Rent One or Two Rooms to Rent in a home in a Jersey suburb to gentleman desiring an atmosphere of refinement. References must be exchanged. 8.595, Outlook. 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. Pines. Ideal place for life in winter. Main house and cabins with sleeping-porches. Modern improvements. Pure water. Electric lights. Excellent table. Rates moderate. Open all the year. Write Miss SANBORN, Aiken, S. C. Real Estate California SELL or LEASE Belvedere, garden suburb San Francisco, golfing, yachting, well-furnished 10-room house, fine location and condition. $22,000; $125 month. 8,587, Outlook. For Connecticut Nor Rent-Remodeled barn near Washington Green. Charming fall location. Big fireplaces, electricity, hot water, very comfortable furnishings. Available at once. Apply Miss Ruth B. Smith, Washington, Conn. New Jersey ORADELL BERGEN COUNTY Prospect Ave. HOME, eight rooms, all improvements, garage, beautiful grounds 100 x 200; schools, golf course. 40 minutes New York City. Exclusively residential. $13,500. W. D. NEUBERG, 225 Broadway, N. Y. City. West Virginia For Sale, Large Dormitory and Administration Building Combined Modern, in good condition, adapted for boys' or girls' preparatory school. Twenty-acre campus. Elevation 2,000 feet. Railroad connections and hard-surface roads. The former home of Davis and Elkins College. Can be bought at a bargain. Address JAMES E. ALLEN, Pres., Elkins, W. Va. Instruction Opportunity to become TRAINED NURSE. $15 monthly allowance. Ideal living conditions. Teunis, surf bathing. 3 hours from New York. 8-hour day. 2% year course. Age 18 to 32; 2 years high school. Send for descriptive folder and application. Southampton Hospital Association, Southampton, Long Island, N. Y. girls seven and eleven years. In answering please give references and extent of experience. 8,006, Outlook. 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, permanent, interesting work, quick advancement. Write for free book, YOUR BIG OPPORTUNITY." Lewis Hotel Training Schools, Suite AK-5842, Washiington, D. C. OPPORTUNITY for young woman appreciative of congenial home surroundings to assist with young children and light upstairs work. References exchanged. Mrs. Robbins, 75 Heights Road, Ridgewood, N. J., or telephone Barclay 5018, for appointment. WANTED-Young gentlewoman as resident governess in Philadelphia suburb for little girl six years old, also as congenial, sympathetic companion and music teacher for girl 14 and boy 15, both attending day schools. College graduate preferred. Highest references essential. Give full details, including age in first letter. Salary $75 monthly. Gentile. 8,019, Outlook. SITUATIONS WANTED COLLEGE GRADUATE desires position as tutor in South or Southwest. Recommendations gladly furnished. 8,001, Outlook. COLLEGE woman desires home position. References exchanged. 7,989, Outlook. COMPANION-housekeeper. Middle-aged American Protestant, capable, experienced, care for one or two adults. Box 748, Englewood, N. J. COMPANION-nurse, housekeeper, sewer. Reliable. 8,020, Outlook. COMPANION-secretary, governess, or any position of trust by refined, educated Gentile. 8,000, Outlook. EDUCATED American girl will accompany lady or tutor children while traveling. Much experience in Europe and Orient. References. 8,024, Outlook. EDUCATED companion,, helpful to convalescent; household assistant as family member. Experienced, adaptable, traveled. Please state particulars. New York environs. 8,027, Outlook. GOVERNESS, companion, mother's assistant. Educated, experienced woman. 8,028, Outlook. GOVERNESS, companion, teacher. Permanent position wanted by French-Swiss A Mart of the Unusual teacher; experienced. Moderate salary. Ref Harris Tweed Direct from makers. Ideal sporting material. Any length cut. Samples free. Newall, 127 Stornoway, Scotland BOOKS, MAGAZINES MANUSCRIPTS SPARE-TIME WRITING. Write articles that will sell. Turn your spare moments into money. Requires only ordinary writing ability. Real opportunities. Material everywhere. Information on request. Free-Lauce Writer's Service, Box 85, Ashville, N. Y. BUSINESS OPPORTUNITY BOYS' or girls' camp, Lake George, fifty acres, fully equipped fifty campers. Long established. Lease or sale. Investment $500. W. R. Slack, Hague, N. Y. STATIONERY WRITE for free samples of embossed at $2, or printed stationery at $1.50 per box. Also business printing at low prices. Lewis, stationer, Troy, N. Y. EMPLOYMENT AGENCIES INSTITUTIONAL executives, Social workers, secretaries, dietitians, cafeteria managers, governesses, companions, mothers' helpers, housekeepers. The Richards Bureau. 68 Barnes St., Providence. erences. 7,876, Outlook. I want about two hours a day of interesting tutoring. I can offer a background of college education, wide travel, and colorful experience in tutoring. 8,018, Outlook. LADY of 'culture and refinement who has held executive positions wishes position as housekeeper-companion. 8,017, Outlook. NEW England woman to assume full charge home; competent to manage servants. Good caterer, cheerful, willing. 8,021, Outlook. POSITION desired by refined, experienced woman, practical nurse. Matron, housemother, care invalid. 8,023, Outlook. REFINED young American college graduate, Protestant, would act as companion to middle-aged lady or young girl. 8,025, Outlook. SEAMSTRESS, hotel experience on power machine, desires position, hotel or institution. References. 8,022, Outlook.. TEACHER piano, violin. Experienced, graduate New England Conservatory. 7,982, 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. Aida are provided with maintenance and given a monthly allowance of $10. For further particulars address Directress of Nurses. CORRESPONDENCE lessons in English. Anna Wildman, The Clinton, Philadelphia. saving professions of the world-I must accuse you of unfairness to Hudson Maxim (May 18, 1927). in Why always visualize war? Explosives do our mining, railroad and highway building, and innumerable other useful works, including provision of electric power and water supply-the principal factor health. Even in war they have decreased the percentage of loss. I served two and one-half years under the British flag and two under our own, and know whereof I speak. The auto kills-in this countryabout as fast as our former enemies in the war, but how many does it save from typhoid, tetanus, etc. Why not condemn W as E have an over-production, or, some choose to call it, an underconsumption, of all farm products to-day. If we were to increase the selling price on these commodities, we would only encourage greater production, which would further increase the amount of over-production. Production and consumption, therefore, are the two salient points in the farm situation. If the manufacturers of clothing, boots and shoes, farm implements, steel, automobiles, or any of the other basic industries meet this same situation, and they are meeting it continuously, the first step they take to correct the condition is to reduce production. Why not the farmer? The Government cannot compel reduced production, but it can assist in not encouraging over-production. The Department of the Interior should withdraw from homestead rights every acre of public land not already filed upon, thereby assisting by not aiding this over-production. Why produce more when we already have too much? The yield of the great number of homesteads is fairly comparable to the tremendous volume of business done by the five and ten cent stores throughout the country-small individual sales, but enormous in the aggregate. There are undoubtedly authentic statistics available showing that we have fewer farmers in the United States to-day than we had ten years ago. Still the production is greater, due to increased yield per acre per man, which is explained by improved farming methods, such as power farming, proper fertilization, certified seed, and many other points which the farmer has been taught by our very efficient Department of Agriculture. Why, then, throw more acres under the plow for this same increased yield? The Government in the past has financed large irrigation projects. Some of these have been successful, while others have The Outlook for September 21, 1927 been dismal failures. Farmers who have been induced to buy land under these irrlgation ditches have been unable to keep up their payments and in many instances to even pay their water rent, and have been compelled to admit failure and desert their land, losing their payments and many a month of hard labor. The land then again reverts to the Government for resale to the next applicant, and still the Government does not get its money back out of the project. About the only good that has ever come to the taxpayer whose money was used in the construction is a monument such as the Shoshone Dam, that may be seen by travelers who enter or leave the Yellowstone National Park by the Cody Gateway. TELEGRAPH COMPARIES telephone service. Its cords link for in stant speech those who are separated by a few miles or by a continent. Its guardian operators are of the telephone armymen and women vigilant to meet a nation's need for communications. In plant and personnel, the Bell System is in effect a vast switchboard serving a nation that has been transformed into a neighborhood through telephone growth and development. It would seem that one or two of such monuments should be enough, but during the closing hours of the last Congress much time and talk was spent on the Swing-Johnson Boulder Dam, for another Government irrigation project. Fortunately, this bill was not passed, and it should not pass; nor should any other bill pass which diverts one cubic foot of water from its natural channel for irrigation purposes, nor should a single acre of land be opened for homesteading until consumption has at least approached production, whether the product be cattle, sheep, grain, cotton, fruit, or walnuts. Illoming Hereford Ranch, Sheridan, Wyoming. SIDNEY S. PORTER. |