New-York tribune., 1920-07-18
Dubiske. the Lion Hearted

Question--I was interviewed to-day by
a. salesman from H.. W.. Dubiske & Co,
hauch & Lang stock. which he claimed
10 be safe investment which not only
drew interest but also drew a large per-
centage of the earnings. which he said
would be as much as the investment. He
al also ,,, stated that IL invented 10 per cent
about $500, would draw in ten years
about 600 year on said investment.
told him to come next week some time. as
would need time to investigate this
matter cannot afford to throw my
small. / therefore ask YOU to helm mo
and advise me if this investment is all
that he claims it to be. Any information
which you can give me will be appreciate ed
| very much, as am an old Tribune reader
an me also ah claimed that these shares are not
spccuiative.-G. e. p
Answerfo toll for a short ten years
more, then to stop work and spend
more than you earned before, merely
by "lnvesting' one-tenth xof your in
come is, indeed, q glittering prospect.
Perhaps you have missed the oppor-
tunlty, for the Dubiske salesman op-
crates on the one-call system, the COM
pany explaining that more than one
call is too costly. "Tf they don't fall
the first time they won't fall at ALL"
IS a crisp statement of another theory
which is widely held in some stock
selling circles. We do not apply this
to the Dubiske organization, however,
| because the word fall" is inconsistent
with its characterization of the stocks
1t offers as investments. Our opinion,
contrary to that of Mr.. Dubiske, is
that such stocks as Rauch & Lang are
not investments, but speculation, be-
cause the Rauch & Lang Company has
not yet proved its earring power un-
der the Dubiske capitalization. If there
proves to be constant and large de-
lnand for electric passenger cars and
trucks, If the company can fill this de-
mand at profit to stockholders, and
If thousand industrial, economic and
other factors are and remain favorable
to the enterprise, the company is quite
likely to be a money maker If, for
instance, gasoline dropped to cents a
gallon, where it has been in the past,
there might be another story to tell.
The Tribune has no quarrel with in
dustrlal speculations of this kind as
such. But when Mr.. Dubiske says,
This kind of security secures for the
investor his shares Of the full profits
of the enterprise" he is talking about
profits which exist in the future and
may turn out to be loss. When he
says: "Such investments bring prac-
tlcally the same security as bonds or a
savings account" it is our opinion that
he is misleading his clients. For you
may draw your savings account; to
realize on Dubiske stock YOU have
practically no market except what the
company chooses to offer you The
Tribune believes that this feature Of
such stock-selling propositions is
doubly vicious because it is usually
coupled with the assertion that the
small investor is Disseminated against
in "Wall Street" q charge that is easy
to disprovc. In the foregoing we have
statements Of the salesman about the
future. The first rule that is drilled
into stock statesmen of the new school
is that they cannot sell stocks unless
they are enthusiastic. We have seen
stock salesman get so worked up
over his proposition that his eyes stuck
right out of his head. But it is good
rule for the investor to remember that
enthusiasm pays him no dividends,
even if it does pay. the salesman. The
following description of II. W. Du-
biske, who is thirty-one years old, is
taken from his house organ, Zone
Call": "With the heart of lion, the
strength Of mind end determination of
an Abraham Lincoln or Teddy Roose-
welt, he has overcome each fresh re-
slstance, never once STOPPING to mis-
| representation or misstatement. For
this man Dubske has done i'll
three short years for the financial edu-
cation of the American people more
than all the Morgans, Drexels, Goulds.
Astors and Vanderbits combined have
done in over three generations. Wash
ington freed America from the yoke
os English bondage and domination.
Lincoln freed the unfortunate negro
from his bondage of slavery, and to-
day Dubiske is freeing men and women
Of modest, moderate means from the
pirates of finance"