The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-07-08
Frederic Haskin's Letter
Hunting the Wildcat Film.

Washington, D. c., July THE
great business discovery made by
P. T. Barnum-that the public loves
to be fooled and that it is amaz-
ingly easy to fool it-has recently
been put to work in a new form.
The wildcat movie company has ap-
Feared, and has scampered away
with a number of the public's mil
lions and MISUNDERSTANDING
posse of honest movie-makers hot
on its trail.
This latest child of American
fraud-lineal descendant of the gold
brick, the wooden nutmeg, and the
cherry colored cat; first cousin of
the oil gusher for which the pro-
moter does all the gushing, the pc
can groves and rubber plantations
which grow only in the tropical
imaginations of agents-is credit
ed with having issued stock to the
amount of not less than a quarter
of a billion dollars, and some fif-
ty millions of this amount is sad
to have left home completely and
forever
Lured On by the knowledge of the
fortunes made by many in the NOV
ing picture industry, a large Dor
ton or the public has fallen an easy
victim to the dishonest promoter
or the wildcat film company. The
National Association of the Motion
Picture Industry has been most &C
tive in trying to expose and dis
credit these men, and a vigilance
committee has been in existence for
yt-E irn
able results.
During the past year, this COM !
mlttee has investigated more than /
a hundred suspected moving picture !
companies, representing a combin- |
ed capitalization of a quarter of a |
billion dollars. A great many at |
tempts to gouge and victimize the |
public have been discovered in time i
to thwart worthless movie stock !
fiotations. It was found that as |
a rule these f1y-by-night concerns !
were differed by men with no ex-
perience in the moving picture bust
ness.
1t was particularly the "produc-
ing" companies of this character
which were found to be shady and
questionable. Usually they were
of promoters evidently at
tempting, and often with success,
% cash in on the widespread re-
ports of fabulous fortunes made
n the motion picture industry.
During the last calendar year, the
American public put $50,000,000 into
he pockets of dishonest promot-
IT'S through the purchase of pretty
stock certificates in worthless pro-
iUcing companies. This does not
If course, include any of the stock
ssued and sold by well-establish- |,
ID and profitable motion picture
which sold securities I
o the public during 1920 for the {
purpose of legitimate business ex- IT.;
)ansiOn.
But the wildcat companies, as a F.:
ure, repeatedly call attention TO
he tremendous earning power and I
ssets of the honest and established
concerns, seeking by this indirec-
ion to associate their names with I
hese honest and above-bOard rep
esentatives of the industry. II
1t was for the protection of the &;
'ublic and the protection of the
onest companies that the National !
association of the Motion Picture
appointed its vigilance {
ommittee about a year ago, when !
he stock-seiling operations of the /
AXE companies were at high tide. {
By putting up the bars against I
he wildcatters, the respectable AMI {
onest movie men hope to protect /
themselves, as well as prevent fur
her muIcting of the public James {
!, Quirk, editor of a moving pic |
Ire magazine, heads the commit 7
ee. II
Publicity the Cure. t
Mr.. Quirk says that publicity is f