Evening star., 1922-08-13
BY I. A. FLEMING.

as speculation anu hioiSS
place in the worlds economy.
In Washington. perhaps more than
any other city of its size. the traps
jare out after the dollars of. the
credulous, probably because there are
moro wage earners here, proportion
atelv. and because the government
worker, in common with the average
worker. dreams or SIX cyiliaers,
lawn tennis and other Things that
might come with more ample hnan-
Cial resources
Saving is slow process, admit
tedlv, and must be kept up with
continuity of saving to ever reach
even moderate proportlons-and time
IS feetinS.
There are comparatively few peo-
pie having money that have not at
some time in their careers SUNK II
in an "oiI we'll" The well go may
have been bored with the promise
of extra large interest paid Tor q
time, perhaps several years out ol
the principal, and then not at all;
Perhaps the beautifully eneraNeu
stock certificates covered a GRIPPE
Creek gold mine and the stamp was
a silver seal, just to show the silver
lining. >,
1t may have been an oil well IN
burned bucket" faxed pateht;
participating syndicate, i'll Whlch
there was no participation Perhaps
even an oil well in Maryland!
Perhaps the bucketshop grabbed
part of the roll, or il may De that
some listed security. and therefore
sone in which you had confluence
turned out wrong ,,
An oil salesw oman once advanced
this argument when seeking pun
lcity for an oil propositions:
You give much publicity 10 STOCKS
and bonds of corporations pectuse
the securities are listed on the Ne"
: York Stock Exchange. But the
' buyer of these securities Is taxing
lot on confidence-he is frequently
plaviug the other mans game anu
knows nothing about real conditions
You can at least see that we are
boring, hoping for oil. The big der
rick is there and the drill IS pitins
deeper every hour. We are trying
to succeed. How about the corpora
tion whose bonds you hold: What Is
1t DOING"
One had to admit the contention
particularly if recollections OF the
sweet music of the graphophohe SUN
fingers in his memory.
Measure of Safety.
And vet in the listed stock and the |
listed bond there is a measure or SAFE
" not guaranteed by wildcat pro-
motions. oil land prospectuses and
other great chances for making
money"
One may investigate conditions or Sc
cure an expert opinion by communtcat-
ing their desire to any local branch OF
member of the New York Stock EX-
change or II listed on local exchange,
then to any banker, and one should al
ways remember that the average
banker has a general knowledge OF IN j
vestments and mortgages thal IS oi su-
perior value to the investor.
A listed stock presumes gong |
corporation. willing to pay certain
fees. make certain periodical state
Z ments of condition, and. more than an
else, offers immediate opportunity Tor |
liouidation every business day at |
price,
suited than any one else. ana can al
wavs be reached, even though the in
o,,irer NAV be delayed for a short
time through business demands OF
the official.
No Sure Thing.
One must always remember tnat II
is just as easy to lose money IN STOCK
speculation when you pay In full for
the stock you buy and LOCK II aMas
in your strong box, but the chances
are not nearly as great for wipins-
out as when you are trading on spec
ulation.
The stop-loss order placed on a
holding of stock is frequently the OBJ
ject of deliberate raid by bear
traders-not your little Individual
block of stock, but thousands OF
blocks likewise protected. Looking
over the sales sheet by hours. one may
readily note where big bears go hunt
ing for small operators, selling 1:ooo
shares at a price that may eaten a
few hundred shares protected by
stops. their selling bringing out other
stock etc. and repeating ad I'D.
Blind pool buying and selling is SAID
to be legitimate, but it is a trusting
little brother who will slip the money
to these operators.
Once upon 4 time PonZi existed and
operated and paid big dividends-but
why specialize?
Ask Your Banker!
Ask your banker.
Ask him about legitimate invest
ments, too.
THAT is good advice and take a
chance at opening up the whole story
for him before you spend your money.
1t Is so much safer. so much more
satisfactory to do it then than when
YOU are seeking to salvage rem
nant, and the banker is not as gra-
ciouS then.
No legitimate investment is too
GOOD to be looked into by a layman
and his banker.
Bank Advertising.
Here is a s-lbject for discussion and
many will iscuss it and say little
The reason is simple.
A bank has nothing to sell but
service and each institution thinks
that it has service to give on par
with every other at least.
There is much in banks service
that is not to be bought for dollars
and cents, and each and every bank
is anxious to be of service, the KIND
that is free, in order that it may be |
used as an advertisement to build up (
closer and more remuneratlVe rela-
tions.
bank is supposed to have money |
to loan and the would-be borrower
does not need an advertisement to un-
derstand that.
There is a certain amount of pub
iicity that a bank should have to
keep 1t constantly before the public
general publicity.
Then there is the speciality adver-
tising-sayings bank publicity with
the rate of interest prominently to
the fore that the would-be depositor
looking for the best rates may make
his selection.
If you have bonds to sell, choice in
vestments that you would dispose OF !!
and can back with your reputation,
not otherwise, for the sale OF a ques-
tfonable investment will react ON 1
you.
Stand Back of 1t.
The most successful commercial pa
per salesman in Chicago stands back
of every piece of paper he sells. That
is asking too much, perhaps, but he
has grown rich doing it.
Chis same man. by the way. as
sumed all the obligations left by
relative. for which he was in no way
responsible, but gradually paid off \
trust companies-and he Is a well |
,yicitnr today hack of the conn