Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-08-10
BY I. A. FLEMING.

BY I. A. FLEMING.
Investors Of the educated brand vii
welcome the suggestion Of the Presi
dent that capital issue COMMITTEES
be appointed to supervise all stock
Rotations. approve! being Iscessar,
before the new stock Of bonds are
offered to the public.
Investment bankers have held al
along that federal supervision was a
necessity, and now more than ever
with 30 many billions Of liberty and
victory bonds in the hands Of men
women and children unaceustomed to
handling bonds or stocks and uuae.
euaintsd with actual values.
Once the information 10 spread ell
over the country that actual approval
BY an efaeial board IN Washington IL
stoeks, the takers will be forced to
invent some new scheme TOR robblne
the innocent investor OF his liberty
bonds or the get.rich quick individ.
ual from trading bonds, money, the
pr OF cattle and horse: tor fake
advance ten to twenty points week
from Thursday"
A capital issues committee would
also be a protection against over
capitalization of corporations, q pro-
lection to minor Shareholders and to
the public generally.
Such . committee in operation since
January ], 1917, would have saved
the public.
But it should not be committee ap.
ducks" or Of a political character un-
der any consideration, but should be
selected with special reference to a
thorough familiarity with financial
and security conditions; men OF I'M
questioned reputation and standing;
who are also familiar with general
The plan adopted in the operation
OF the capital Issues committee during
the war controlled new issues within
the lines Of war work and actual
Z necessities, with z subcommittee In
committee with regard to proposed
issues In its territory.
The District Of Columbia had Q spe.
ciai committee which acted wisely on
All local propositions.
Advocated . Blgs-sky Law.
Only q few days ago = slue.sky
law was sdvecated for the District
as means OF checking oil sharks,
: then. a. now. using some papers with
magnet In drawing In dollars.
Blus.sky laws have had q wonder.
full saving effect in many states.
There 10 no question but what there
are scores Of high.grade oil stocks
through the bringing In OF wells and
the operating Of proven territory. but
70 the average public investor oil and
mining stocks. unless Of standard cor
porations.. given approval by leEiti.
mate bankers. are pit holes for the
Legitimate promotions will welcome
investigRtion-the other variety will
. oppose anything that suggests let.
ting IN the daylight.
committee win save millions annual-
y TO the people Of the country--it 10
the wissst suggestion Of the year. 3.
Must Be- Some Relief.
But for the fact that the Chamber
Of Commerce, BoSrd Of Trade and Fed.
Grafton Of citisenS Associations have
given Endorsement to the proposed
merger OF the two street car nystsms,
much OF a change with regard to the
Washington Railway and Electric
It g rndersteod that bill to force
. merger 10 being drawn up. but With
s ne snnss Be Ss.wssn lie Two com.
paniss To- one positive essential to
But the feeling in financial circles
70 that some further measures OF re.
lief must be given e the street rail.
nscessary TO the well being Of wash.
ington. and further delay with r..
gard to the Washington Railway and
Electric Company means Q further
running down Of the property and
tenn, 20 essential In enabling thou.
sands Of our workers to 90 to and
from business daily.
It IL known that the employees are
waiting to get their share OF any IN.
the absoiute necessity Of meeting in
the matter OF street railway trans.
portstion the increased cost OF living
and Of materials a. well.
s h: so. = !. ga, and so CO., " g
. ton.
Local Real Estate Boom.
The local real estate business 10
enjoying q wonderful squirt Of sctiv-
Try. Real estate brokers stop and
wender where the money 10 coming
from; money that VIII swing maIlton.
dollar transactions without the
slightest trouble and make contem-
plated improvements calling for a.
much more.
The largest transaction OF the last
week removed from sectsrian uses
one Of the largest city blocks, takes
down a big brick wall and brings
business to its own in one down
town property. The reported price
for the Academy Of Visitation. on the
square bounded by Connecticut ave.
rue. L, De Sales and 18th streets. was
100000. while the contemplated i'm.
provemsnts will more than double
the expenditure. = - ~.
A matter Of SEQ 900 square feet,
subuxban property marks another
devsfoprn ent upon which valuable
honaeS viii he erected, and there 10
talk Of sl.ooo.o0o deal on the
stoeks.s'
9one Possible Source.
Tie Omitted States is richer today
thah ever before. Washington has
sharsd very largely in the distribu.
ton of the good things. The bank
depesit1 in the last year gained $751;
900. this. after the departure Of