Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-01-24
AID CLUBS Of NY.
! T0LEAD FIGHT ON
STOCK SW|NDL|NG
Will Take Over Work Under
! taken by Business Mems
Y Organization.

Announcement has been made In
New York that the Associated Adver-
Using Clubs of the World have taken
over the work which was undertaken
a short time ago. by an organization
known as the Business Mems Anti
Stock -SwindlinG League.
+, r Meredith. president Of the ad-
vertising association. arranged. in as
sumine the work for that organiZa-
ton. that the movement would con-
tinuc to have advantage of the coun-
sci and aid of the directors of the
league. He asked that they serve as
an advisory committee.
HerriclS. Cleveland: Samuel r. Ber-
tron. chamber Of commerce, New
York: \. NJ. Chambers, Second Fed
eral Reserve Bank. New York; w. c.
DARCY, st. Louis; Donald Durant.
Investment Bankers Association. New
American Federation of Labor. In
dianapoIis; J. +. Kavanagh, vice
president. Metropolitan Life Insurance
Company. New York: W. q. Lee. presi-
dent. brotherhood Railway Trainmen.
Cleveland; William q. McAdoo, New
Merchants Association. New York:
Francis II. Sisson. vice president,
Guaranty Trust Company, New York.
and Jason Westerfleld. New York
StOck ENchanSe, New Ork.
Movement Met With Approval.
The transfer of work was made be-
cause it became apparent to the or
eanizerS of the league that the move
ment would make better progress in
the hands of an existing organization.
already equipped with men and eX-
perienCe for doing such work.
The league Went far enough to prove
that such a movement meets with
L
the plan has been Endorsed by many i'm
portant associations as well as individ-
uals.
Every business is injured" says a
statement of the purposes of the move
ment. by the consequences of a con-
tinued exploitation of the public at the
hand of fraudulent stock promoters, be-
cause the public is the customer of bust
ness. Clearly. if the customer is de-
frauded and impoverished. his buying
power is impaired. Funds which he
should employ for the improvement of
his own condition. to his own profit and
the profit of legitimate business, are
wasted.
Thrift tends to anchor men to their
jobs-to steady them-and to increase
their value to themselves and to their
employer. When they save and acquire
property. whether this be the securities
of the company by which they are en-
ployed. or a home. they become steadier
and more useful. The encouragement of
thrift promotes better habits, both of
body and of mind
Likely to Create Prejudice.
1.-THE employee who works hard and
saves. only to fall into the hands of a
ruthless swindler, is the more likely to
acquire a prejudice against all who rep
resent invested capital. II he were so
discriminating that such result would
not follow. he would be discriminating
enough to decline to be charmed by the
stories OF the promoter.
Business is safest when the owner
ship of business extends to the greatest
possible number of people. Moreover.
buiness will more easily acquire the
capital needed for legitimate expansion
from thrifty citizenship.
Education is the basic thought of
this movement We propose. through
the use of advertising space. in the pub
lie press through the distribution OF
the use Of moving picture slides, the
employment of placards. posters, etc.
and by other means. to give the public
the facts with which to combat such
Swindlers
I'VE propose TO describe the earmarks
OF the faker. 50 that all people may
know him for what he is
II was the plan of the league to raise
at least $4,000 with which to start the
movement. 1t has been announced that
the advertising clubs would not, how
ever, raise separate fund, but that
the work would be financed out of a
fund of $4,000 a year which is now
being subscribed to carry on and enlarge
the fight OF the advertising associa ton
against the fraudulent use Of adyertis-
iIg.