The Washington times., 1923-06-29
INVESTORS
SAVED BY
EXPERTS
Oil and Other SWindIers Here
Curbed by Better Business
Bureaus Activities.

A great reduction in the volume
Of swindling promotion schemes
has been effected in Washington,
according to a report issued to-
day by the Better Business Bu-
reau.
Indexes 600 Cases.
The bureau has just completed
the assembly and indexings Of it's
files on 900 financial promotions
which have been conducted in
Washington recently, and has COM
pleted an elaborate system hy
means of which information can
be obtained on short notice regard
ing any concerns not listed in the
! files.
The bureau has found a steadily
Increasing tendency on the part of
Washington people to investigate
promotion schemes Of all sorts be-
fore investing, and because Of this
tendency the bureau has been able
to give real assistance in checking
up cases where swindling was being
attempted.
One Of the leading Better. Business
Bureau financial experts in the
| United States will be assigned to
duty in the National Capital within
the next week or two. 1t was an
nounced today. This man. Howard
C. Cool, is just completing a
thorough cleanup of financial pro-
motion schemes in Cleveland. He
Is, the originator of the phrase, BE
fore you invest, investigate"
Survey to BE Made.
Cool will take charge Of a
thorough survey of the promotion
field in Washington and will lay
steps to root up as far as possible
the evils which still exist here.
Washington people show a de-
cidedly encouraging tendency to in
quire into financial promotion
schemes presented to them" de.
clared Louis Rothschild, of the Wash
ington bureau. today. "A steadily
increasing number of them are max
ing inquiries at the Better Business
Bureau before investing in any un-
known promotion plan.
This practice is enabling us to
furnish real assistance. In cases
where the promotion is legitimate
and aboveboard, no harm is done,
and. in fact, the promotion is helped
by the fact that it has been shown
to he above suspicion. On the other
hand. host of swindling schemes
are disclosed and stamped out be.
fore real losses occur.
There Is far less crooked promo
ton work being conducted In Wash.
ington now than in the past. There
are virtually no large schemes in
progress, and 1t is becoming increas-
ingly difficult for promoters to
sw1ndle on large scale. There has
been notable decrease in fake oil
and radio promotion schemes in this
city.
The only promotions that are now
being conducted successfully are
small ones, which depend upon the
disinclination of investors to com.
plain OF their small losses for their
immunity. With the increasing
education OF the public along such
lines, however, even this business
Is being cut rapidly"
AT Work Many Years.
The Better Business Bureau has
for many years conducted a cam
paign against illegitimate promo
lions. The bureau never recommends
an investment in any security, con-
inning It's activities to warning the
public OF promotions where fraud Is
practiced.
Inc overcoming Of the small
fraudulent promoter, who Is now
the most troublesome, it is said, Is a
matter OF public education more than
anything else.
never make an investment with
OUT Delns absolutely certain of the
| integrity of the individual or firm
with which you are dealing" the
bureau advises. IF there is the
sllghtest question Of doubt call the
| 6etter BUSINESS Bureau and, If we
do not already know about the con-
Germ In question we can readily find
out"
The services of the bureau are
Tree OF charge. There has been a
STEADY increase in the number of
inquiries about promotion schemes
az the bureau. Eleven inquiries have
| ALREADY been made this week, it was
~.