Evening star., 1922-01-23
WARNS INVESTORS
|0F CANADIAN PAPER
Official Notice of Worthless
Securities Being Offered
in United States.

The statement just issued by Secre-
tary of State Copp of Canada. warning
investors not to purchase Canadian Sc
curities held in Germany during the
war and now being offered for sale in
the United States and Canada at re-
duced prices. is made as protection
against swindling practices by holders
Of the securities.
The reason for the worthlessness Of
the paper is that the Canadian officer
corresponding to our alien property
custodian, took over at the beginning
of the war all rights to Canadian prop
erty held in Germany. Most of the
property has not been released, and
although the Germans retained possess
sion Of their certificates they received
no dividends and could not transfer the
stock. Now, it is said. they are trying
TO sell it at little under market price
rather than wait until it's release.
Large blocks of Canadian Pacific Sc
curities were held in Germany, and are
among those now being offered. Before
title can be passed their release must
property custodian and transferred on
the books of the company.
Wolfe to Address Credit Men.
A. j. Wolfe, chief of the commercial
laws division, bureau of foreign and
domestic commerce, will address the
" aShlngtOn Association of Credit
Men at their weekly MONDAY lunch
con tomorrow at the new City Club,
the permanent meeting place in the
luture OF the organization. Mr.. Wolfe
VIII take as his subject collection
n s~il
4. /. b. Lectures.
Joshua Evans, jr., vice president of
the Riggs National Bank, will lecture
before the elementary class of the
Washington Chapter, american Insti-
tute OF Banking, tomorrow night.
When he Will take as his theme Bank
Statements" The talk will cover
nalysis-liabilities and book value
of stocks"
VIII address the advanced class on
insolvency and Bankruptcy"
Bank CIearings.
After the previous weeks slight in
crease. bank clearings again disclose
reduction from the figures of a wear
ago. an aggregate of S6649, 900 900 at
nineteen cities in the United States
last week. as reported to Dun's Re-
per cent
There is. moreover, falling off of
!aS per cent from the clearings Of
iszo. AT points outside of New York
winch are included in the statement
the weeks total is 6.8 per cent below
| 'hat OF last year and 2o7 per cent
smaller than the clearings of 1920.
while there are losses of IL and * >
city w ~
Compared with last Year, gains ap-
Peared iast week at Boston. Buffalo.
LOS Angeles. San Francisco and
seattle, the largest increase being
one of 1873 per cent at Los Angeles,
Inc iaster city also reports an eXpan-
SION OF 42.3 per cent over the clear
lngs of 1920 while there are gains of
"o.S ana 2e.b per cent at Louisville
and Minneapolis as compared wiTb the
nSures of two years ago
Returns From Pittsburgh.
Eugene f. Thompson. president of
trahe. Paris & Co, returned to the
city from Pittsburgh yesterday. after
attending the quarterly meeting of
the board of governors of the Invest.
ment Bankers Association.
Local Trading Light.
Trading was again light or tho
local stock exchange today. Forty
shares of Capital Traction. in Two
: 2o-share lots. sold at 96Is: eleven
/, shares of Washington Gas broupb, ;,
oO: and twelve shares of Continental
trust Company stock We're djsnosaI
| or, ten shares bringing So and two Ok
Five thousand dollars worth of
washington Railway & Electric gen
eral mortgage 6s at 961s was Tho
sole transaction on the bond market.