Evening star., 1922-08-27
CONDITIONS DO NOT FAVOR
PROLONGED BULL MOVEMENT
With Exception of Easy Money and I'm
, proving Business Some Adverse Fac
tors-Local Securities Firm.
her New York specialists.


The most successful period of
Bowie Chipman's record has been
through the connection made with
Hartman & CO.. and the opening of
offices on the main floor of the Col
orado building. 14th and streeG
northwest.
Annually the volume of business
accredited to Harriman & Co. from
Washington has increased and it has
been an open secret that. during
some of his greatest bear campaigns.
Jesse Livermore. Millionaire many
times over. has made use of Chapman
and his New. York connections to
Mr.. Livermore and Mr.. Chapman are
great friends and have the greatest
respect for black cats-indeed. the
latter accredits all his good luck: cul-
minating in the partnership. with
big salary on the side. September l.
found on his front stoop one dismal
dark night.
Livermore and Chipman watch the
omens like real speculative traders
color. shape. hour. cats and other
hoodoos and mascots play part IN
deciding their operations, and results
are carefully watched.
Bowie Chapman has scores of good
friends in his own home town who
will welcome his success and this
recognition of his ability as trade
getter.
How Much Did You Blowf
If Won will turn back to the files of
the daily papers of tn" larger cities
of two years. or little longer ago.
Won will find scores of nicely worded
advertisements relating one method
Of making fafr-sized fortune: one
chance in z hundred of growing
rich. throneh the investment of hut
5000 to $500. And any amount might
he used in like manner with increas-
ing profitable results to the Specula-
to-
Tens of thousands Of American dol
lars passed from people to moderate
means into the nav of the German
mark speculation.
"Brv an option on 10000 marks.
For $500 you can huv an ontlon good
for two years on 000h marks: marks
are sure to increase from their low
wartime levels and you VIII make
plenty of money on your option.
For $4,000 you can buy an option
on million marks-no better. surer
wav of making money can be found.
Get aboard
And thousands got aboard.
Many American citizens with faith
in the fatherland bought great wads
of marks.
Many sperulativelv inclined took
chances for large amounts of money.
for the debacle of the German ma
tion was not CONTEMPLATED.
The ordinary man is having trouble
expressing the value of mark in
American decimals today. 1t is not
81. nor yet 500 90 centsl not even
SCOT q cent? nor yet s0nn1. which
is l mill. but it is $0.000al. which
is a little more than one-haf OF 1
mill.
On this basis it takes 10 marks to
make a full American cent and 1900
marks for one American dollar
The crop of mark suckers has been
most effectually reaped.
Local Securities.
Just bit of hesitation has been
evidenced locally in the common and
preferred shares of the Washington
Railway and Electric Company.
The bullish effect of the "feeler.
on the 27.500 shares of Railway COM
mon has about run its course. with
favor of the theory that the bid
was nothing more nor less.
But in every other part Of the local
market strength is just as well de-
fined as ever.
1t may take the Surpeme Court de-
cision. if favorable, to start Railway
shares to higher levels. although the
) per cent dividend of the preferred
looks safe enough to be permanent.
The typesetters are doing good
business. admittedly. and their prices
should be more on fair income basis
than they are.
Capital Traction shares have made
a new high during the week. and
further orders on the buying side are
likely to be filled only at still
greater advance.
Why Build Factories.
Here is a clipping from a Balti-
more paper that tells its own story.
After reading it. if interested. the
natural question is. why should the
Graphophone factories. of
any place want money to build
factories any place. in any state:
The Bridgeport factory is ample and
more than ample for all demands and
thousands of machines are on hand.
But read the story:
"Alleging that loans obtained on
bonds issued by the Columbia Graphic
and the Columbia Graphophone Man
Company of New Jersey
have not been used for the purposes
designated when the securities were
issued. members of the firm OF j. 8.
Wilson, Jr. e. Co. yesterday took
steps to restrain the companies from
selling any more Of the bonds.
THE complainants, ]. Sawyer Will
son, jr.. Arthur L. Jones and Horatio
l.. whitridge, partners in the firm, al
lege that on October 20, 1919. the de-
PENDANTS. capitalized at $5.000.000. is
sued a series of first mortgage bonds
and preferred stock to obtain money
with which they intended to build
graphophone factories in this state.
"According to the plaintiffs. they
subscribed s1.75o.o0o of the bonds and
81 1,925,OOO of the per cent preferred
stock They claim further that on
July 27. this year. boards of dlrec-
tors Of the two companies decided to
use the money to build factories in
other states than Maryland. The only
factory built here. they say. Is the
one at Loneys lane and Chase street.
"On these grounds the plaintiffs ask
that the graphophone companies be
restricted from selling any more of
the bonds and preferred stock: that
the Mercantile Trust and Deposit
Company, which, they say. has certi-
fed the issues, be restrained from
any more. and that the Co
lumbia Graphophsne Manufacturing
Company be restrained from collect
ing any money on the common stock
which is said to be in its control.
THE bill was filed in circuit court"