The Bridgeport evening farmer., 1917-02-10

thorized the incorporation by group of nationally known men of com pany for the sale of small denomlna- tion certificates, based on municipal county, State and National bonds, through retail merchandising chan nels. This company, is expected to begin business early in March.
 Among the trustees of the Corpora ton. whose plan it is to put absolute ly safe securities within the reach Of the smallest buyers, are the following:
 Clarence H. Kelsey, president of the Title Guarante eand Trust Company; Adolph Lewisohn, head of the great Lewisohn copper interests; Henry Rogers Winthrop, of Harris, Winthrop & Go, a director of the Equltaole Trust Company; William Fellowes Morgan, President of the Merchants Association of New York; R. Bayard Cutting of the noted family ofN capl- talists and philanthropists of New York, and Andrew Squire, the we'll known lawyer, banker and railroad man of Cleveland.
 The directors include Lindley M. Garrison former Secretary of War, and now member of the law firm of Hornblower, Miller, Potter & Earle; Henry Bruere, formerly director of the Bureau of Municipal Research and Chamberlain of New York City, and now vice president of the Amer icaA Metal Company; Henry E. Coop er. vice president of the Equitable Trust Company; E. c. Delafield, pres ident of the Franklin Trust Company; B. Y. Gallagher, vice president of the Western Union; James Imbrie. of Wm Morris Imbrie & Co.,, bankers; Chas P. Rowland, of the firm of Murray, Prentice & Rowland and a director of the Mortgage Bond Company; Dar- win R. James, Jr., president of the American Chicle Company; Ingalls, Kinlball, president; John Harsen Rf1oades. head of the investment ban1singS firm of Rhoades & Co.,, and Jesse Isfdor Straus, head of R. H. Macy & Co.,, one of the best-knoWn department stores in New York.
 The Company will undertake an en- ergetic, countrywide campaign to familiarize small investors with s.Thrift Bonds" and to secure, the vii dest possible market among those sa- yers who are not served, or imper- fectlx served, by existing thrift and saving agencies
 The National Thrift Bond Corpora tion,s under the supervision, of the New York State Banking Department. in tends. to buy city, county, State and Government bonds-those which are secured by the power of an organized government to levy taxes-and deposit them as security for the certificates 1t sells. Under the trust agreement, every .Thrift, Bond" - the popular name given t6 the certifcates-wil be backed by such tax-secured bonds; and, as further security, safety re- serve fund will be established. - , In denominations as low as $1O, these Thrift Bonds will be put on sale in department stores, cigar shops, drug stores, and other retail distribu- tors, in the banks and express offices people go to spend or de- posit money. Safety and per cent" is the Corporations motto. The ap- peaN of Thrift Bonds will lie in two important elements-their absolute safety and their convenience.
 Tie president of the National Thrift Bond Corporation, Inga1ls Kim
 
 company's origin, purpose. and meth ods of operations:
 '.As long ago as the Fall of 1912 l began to think about the possibility Of getting some form of safe investbent that would be as easy to buy as a ci- gar or ten yards of dress goods: What started me was a talk with a relative who asked my. advice about invest ing the tag end of small legacy. suggested the savings bank; she ob- jected that it was inconvenient, and she would probably be tempted to draw the money out soon to buy hats. I advised her to consult the banker where the money was on deposit; she told me she had, and that shf had re- ceived certain circulars about bonds that she couldn't even understand. told her to go to some investment banker; but she was certain that none of them would care to bother with her little capital. She said it was a. pity she couldn't go to a department store and buy something that she was sure was safe-and feel while buying 1t that she was getting the same cour- teous and efficient service she got when buying other things.
 "The more I thought about that last remark the stronger grew my con- viction that some universal, safe and convenient form of small investment could be worked out. That Fall 1 talked with some of the largest bank CTS in the country. They liked the idea, but made two objections-that ten-dollar bonds are already purchas- able, and that people would buy bonds only from some bank or investment dealer. <
 "As to the first point by practical experience in trying to buy a New York City ten-dollar bond I found vestor is concerned the ten-dollar bond is So hard to get hold of that it Is scarcely more than a theory.
 '.As to the second point, in the ear ly part of 1913 I met one of the direc- tors of the Northwestern Trust Com pany of St. Paul. To dispose of some St. Paul bonds owned by the Trust Company, this director suggested the plan IAhad explained to him of putting bonds on sale like other merchandise in department store. The experi- ment was tried,T with entirely unex- pected and amazing success. Then James J. Hill developed his plan for taking St. Pauls bonds and deposit ing them as security foE certificates of $10 and more, which were to be sold to the people of St. Paul. Here in New York another department store encouraged by the success of the St. Paul experiment, brought some