The Connecticut labor news., 1922-05-26
BEWARE OF FAKE INVESTMENTS, SAYS
 5. FRED. STRONG
Treasurer of Connecticut Savings Bank Points Out Dangers Lying
 All Round.
By S. FRED STRONG, Treasurer, Connecticut Savings Bank,
 New Haven, Conn.

There is an old saying-and very true one-to the effect that "any fool can make money, but only wise man can make money earn money for him." There are few sayings in the language whose truth has been dem onstrated more frequently or more convinclngly.
 Almost any man can, if he works, earn more money than is absolutely necessary to supply the actual wants of his dependents. He can therefore, by the exercise of ordinary care in the spending of his money, save fair portion. If he is wise he puts this in a dependable bank as surplus against future contingency. But as mans surplus grows after year or two, it seems there is always the temptation to use this money to make more. Perhaps, indeed, one should not have said temptation, for the de sire to do so IS altogether a com mendable one.
 Unfortunately, however, the coun- try is full, from one end to the other, of all sorts and conditions of so call ed investment opportunities. There are get-rich-quick schemes by the thousand, mines and oil wells which
 
 tions which are to revolutionize the world, wonders Of sceince, overhead and underground, which require only YOUR savings to make for enduring wealth.
 Oddly enough, instead of keeping all this wealth in the family, the pro- motors send their stock statesmen to let YOU in on the ground floor. Their unusual kindness in this matter should, it seems, excite suspicion but somehow it very seldom does, for there are few men who have not dreamed of sudden riches
 The wisest way to proceed under such circumstances is, of course, to investigate before you invest, to find out what you can of the proposition which is to make your fortune before you put a dollar in it. Unfortunate ly, the salesman usually deals in prom ises only. He may have attractive literature, but it is not easy to get him down to facts, and, inasmuch as investing money IS a highly special ized business, not every man IS quail fled to judge, by what he hears from the salesman, of the real merits of the proposition.
 Under the circumstances, then, the
 
 banker. The bankers business is pri- since he has to invest the money of other people and to account to them for 1t, he must be a specialist or he will not be a banker long. The very nature of his business compels him to keep in close touch with business and financial interests. He commands unusually complete sources Of infor- nation and he must be able also to understand a balance sheet and a statement, and to know just what 1t means. His experience, his knoWl- edge and his facilities for acquiring dependable information enable him to distinguish with little difficulty the sound investment from the one which promises profits only to the man who sells 1t.
 His daily work keeps him in con- stant touch with investments of every conceivable variety. He exercises as much care in the selection of a place for his customers funds as he does for lis own or for those of the bank He has to do this because the whole basis of his business is the confidence of those whom he serves.
 The advice of a banker in invest ment matters is, therefore, invaluable, and it is free. The customer should realize that he is entitled not only to the protection but to the counsel and advice of the bank That goes along with service rendered in the handling of banking transactions or safeguard ing the savings. There is, in fact, no reason why any customer of a mod ern bank should take chance in in vestment matters when the advice of