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CHAPTER V 
different classes of corporations issuing 
SECURITIES 
B ONDS are not only classified as to their 
form, but also as to the different functions 
of the corporations issuing them. That is 
to say, after one has decided to purchase a well- 
seasoned, underlying lien on some established prop 
erty, he must then decide whether said property 
shall be railroad property, traction property, electric 
light property, gas property, telephone property 
or one of a score of the different forms of indus 
trial properties. 
Among the different classes of bonds issued by 
the different properties may be mentioned man 
ufacturing bonds, coal bonds, steel bonds, irrigation 
bonds, timber bonds, real estate bonds, apartment 
house bonds, hotel bonds, mining bonds, and others 
too numerous to itemize. It is, however, a great 
question to decide in which of these various 
classes it is best to invest, and obtain as many as 
possible of the following five standard require 
ments : 
(1) Safety of principal and interest. 
(2) Good income. 
(3) Marketability. 
(4) Possibility of appreciation. 
(5) Stability.