The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1918-03-12
WORLD DCLDB| ! !
STARTING PROBE !. :.
into LEGITIMACY.
OF OIL SCHEMES HI \ |:
Advertisements Of Promoters Will Be
Scrutinized Carefully As to :.
!. = Commences. ,% t.... =. 4: 4:
CAMPAIGN IN HARMONY hi !.
WITH GOVERNMENT WORK
"Wi1d Cat" Claims Fail Of Support; !;
4 Legitimate Enterprises Are
X. Deserving. to-. ..

Especial to Pioneer),

s Indianapolis, March 12.-Acting
fupon, the request of a number of
:4eadings newspapers for information
upon which they might base conclu-
sions as to the legitimacy of adver-
tisements which are offered to them
by stock promoters, the National
Vigilance Committee of the Asso-
ciated Advertising Clubs of the
World, which has it's headquarters
in this city, is starting campaign
against a number of oil stock pro-
motion schemes.
- The campaign is in harmony with
the sentiment in official circles in
Washington against investment in
unnecessary enterprises, and Merle
Sidener, chairman of the vigilance
committee, stated today that many
Of the enterprises which have been
Investigated had been found to be
worse than merely unnecessary to
the conduct OF the war"-that the
claims of the promoters, had in sew
>eral instances, fatty failed to find
support in the facts. a.. ~5,.:, .>-..
Fraud Orders Issued.
For a number of weeks, William
P. Green has been conducting an in
vestigation for the vigilance commit
tee which has taken him through
financial centers and into the oil
fields, and the first of series of
bulletins has been issued. Last year,
following similar. Investigations oil
a number Of automobile manufactur-
ing stock promotion schemes, sew
eral arrests were made, some con
victions were obtained, fraud orders
were issued by me postoffice depart
ment and number of promoters were
put out of business.
While Mr.. Sidener said today that
it is not the intention of the asso-
citation to hinder any legitimate en-
terprise, this is the wrong time fo1
newspapers or other advertising me
diums to hely promote, by carrying
advertisement, any speculative In
vestment enterprise. .'
The first bulletin in the present
campaign of the committee points
to the need for the Investment of the
public's savings in government war
securities.
DUTY Of. Newspapers.
"No purely speculative enterprise
can be of help to the government at
this time," the first bulletin of the
association suggests. 'The advertis-
ing of such concerns is usually mis-
leading and ultimately proves to be
an imposition on the readers OF the
publication in which the advertising
appears. Owners Of newspapers and
other advertising mediums owe their
cooperation to the government to
the extent of declining to accept ad-
vertising about which there may be
the least doubt"
Right Hands Needed.
A favorite plan Of the promoter
of speculative schemes, Mr.. Sidene1
said, is to point to the success OF
other companies in the same line OF
business, but he suggested that the
prospective investor should give
most serious consideration to the
character and ability of the men in
an enterprise before turning thei1
money over to it's promoters. Nearly
any business will prosper in the
right hands, he said, while money
is dangerously invested if those who
are to operate company are mex
perienced, inefficient or dishonest