Show BOND PRICES FALL THE HE present level le of or prices prices' of or railroad rail rail- road Industrial and municipal securities has a a. serious lesson In it for tor forthe forthe the average a person who has lias a small property properly to invest cst The average well secured welt bond is selling at least 10 per cent less than it sold for far five he years ago ag The stocks of bt t the soundest t and managed best-managed railroads must have fallen 25 5 per cent Part of t this may bo due to liquidation caused by the tho European war oar business depression and other special causes But there are few tew who seriously expect ex expect ex- ex peel to see stocks stocka and bonds recover their full lose losa A man who a a. few tew years years' ago put Into standard stocks and bonds has today only 7 OO to of ot his hs mono money left lett If It Indeed ho he has aa as much as that His reason for invest Invest- t- t ing log in la these securities was a as commonly because he could bet get a 3 little tittle higher rate of ot interest than could be had ina in ina ina a savings Ba bank But for tor every dollar donar gained in n Interest he has lost 10 in depreciation of ot principal Ot Of course If it he holds hoMs tP stocks and retains his bonds until maturity which comparatively comparatively comparatively com com- few v people do he will recover re recover recover re- re I cover a large share of ot his loss Joss But comparatively few tew wilt will get back what they Invested The ab above reasoning Is based on the tte prices of or only good securities where the property is perfectly good In a great many many other ca cases s where the se security security se- se was vas of or doubtful or speculative value a large part of ot the original investment In Investment In- In vestment has been b en lost often the whole of ot it There are many people who when a new nos' enterprise is proposed for tor their home town will refuse to take any stock in It although well able to do so Then they thoy n will buy the securities of ot some soma great railroad or corporation whose property they never saw and of ot a whoso hose managers they know noth nath- ing There may b be cliques handling that corporation contrary to the the interest interest inter inter- est cst of ot the tho general public of ot which In Investors investors In- In estors are aro wholly Ignorant All which goes to show that when pee people P Ie invest their money away allay from home I they very frequently go farther tarther anal fare tare worse I I I |