• A DEBENTURE LIST Meantime, it may safely be assumed
that the search will be intensified for good stocks in the fixed interest group which offer ample cover, but something more generous in the way of income yield than the meagre 3 to 3k per cent. obtainable on gilt-edged. So far, demand has only just begun to spread to industrial debentures, and stock can be bought at prices which are attractive in relation to current gilt-edged yields. Here is a list of debentures which should meet the wants of safety-first investors looking for an average of roughly 4 per cent: . • No. of Times " Yield Interest Coveted Current Price. % £ s. d.
9} '
105
4 I 3 3 tot 3 14 3 2 .
104k
21
- 3 99 - 941 1451 454 6o0 In all these cases not merely is the interest aniply covered + earnings, but the principal is represented by assets which leave a large margin for adverse developments. The average yield on this group of debentures is £4 7s. per cent.
* * * * Consett Iron 41 p.c. • .' .. London County Freehold 3! P.c. • • .. .. Lancas hire Cotton Corpora- tion 5 p.c. .. ..
Richard Thomas 4 p.c. .. Blaenavon 5 p.c. .. ..
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