Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-09-20
WARN AGAINST fAKERS
AFTER LIBERTY BONDS
By L A. FLEMING.

started. with all the publicity aids.
posters, advertising, etc, to check the
lclever schemers of the country from
obtaining possession of liberty bonds
from inexperienced investors in ex-
change for oil, mining and other ques-
tionable securities, with strong trend
toward 90 per cent fakes.
The American Bankers Association
undertook to do this work through
the various clearing house associa-
lions, but has only succeeded to q
degree, much Of the work OF the
sharpers being in sections of the
country where clearing houses are
unknown Commercial organisations
have taken it up and will push the
information broadcast.
One poster contains, as an intro
duction, this information:
do not. buy stocks from any nrm
that offers to take your liberty bonds
as security or in exchange Tor their
securities. Keep your bonds. They
are the best security in the world.
Go without something you need rather Ir
must sell them your bonds are always
salable in the open market, and the
daily papers will tell you what they
are worth on that day in dollars and
cents.
"Hundreds of millions of dollars are
lost annually through the purchase Of
wildcat securities. Do not be lured
by advertisements promising fabulous
returns; they are nearly always false
and doctored statements. put out by
financial sharpers, who prey on the ig--
norance Of the public. Do not depend
too much on the advice Of your
friends"
Further warning is issued against
concerns that compare their prospec-
tive earnings with those of well es-
tablished corporations. with assur-
ances Of certain dividend payments
advancement within few days" is
cited also as a bait frequently used:
Even better advice would be to the
liberty bond holder or to any in
weston seeking a place for his funds
for safety first and returns later TO
consult his banker.
The liberty bond loans have brought
millions of inexperienced investors
into the field for the first time and
many of them are fair prey for sharp
erS.
Ask Extension on Notes.
The railroad administration has o.
fered to guarantee payment Of fixed
charges and taxes for the Western
Indiana Railroad Company, including
per cent on the $15,0oo,000 matured
one-year notes, upon which payment
was defaulted.
In view of the ability of the COM
pany to pay per cent interes,
charges, New York bankers now ask
extension Of the notes.
The original default on these notes
was rather severe blow to the rail-
road shares and caused nervousness
among holders Of railroad securities
generally.
q. S. Savings Bank Dividend.
Directors of the United States Saw
ings Bank have declared the regular
quarterly dividend of III per cent
payable october 1.
Personal Mention.
So far as known at this time, B. F
Saul of the Home Savings Bank. Viii.
liam J. Flather Of the Riggs Nationa
and Francis M. Savage of the North.
west Bank are the only local repre-.
sentatives who will attend the con.
vention of the American Bankers AS.
number of other bankers had reserved
accommodations, but have for variou:
reasons Cancelled their reservations.
Francis NJ. Savage will stop of Al
Gary, Ind, on his return to give at.
tention to real estate investments ir
that busy steel town.
Albert Stauss Of the New York bank.
ing firm of J. and w. Seligman ha.
been named as member Of the Fed
eral Reserve Board to succeed Pau
Warburg.
At meeting of the directors of the
Washington Railway and Electri
Company, action was taken raising
the wages of shopmen, barnmen
| mechanics, etc, by more than $4,000
a year.
This increase is in addition to the
very heavy imitation of the pay OF
the conductors and motormen an
nounced last week, and which called
for nearly 100000.
The total advance as result Of the
two actions will be considerably over
the half-million mark.