The Connecticut labor news., 1923-05-25
Endorsed By the Lead CTS of Organized La bOr of the State of Connecticut.

The National Tradesmens Bank and adopted this new plan of bringing the bank to the worker and the follow ing letter is directed to the organized labor workers of New Haven by John L. Hartnett, director of Organized Labor Division of the Compo Clubs of America:
 The master crooks, fakirs, schem- CTS and con artists of the country have been working overtime, nights, days, holidays and Sundays producing securities, stocks, bonds, etc, wonder fully printed and of attractive appear ance, yet which have really no value Whatever-are not actually even worth the paper they are printed on These fake securities have been sold to the workers in the industries of the country to the extent of billions of dollars-not millions merely but billions of hard-earned dollars, sum we most of us find it hard to appre- clate. The average worker falls a prey to the wiles of this meanest of al lcrooks because he Is not exper- fenced in investment and does not have the time or opportunity to inves- tigate.
 Organized labor leaders, always alive to the best interests of the rank and file, at the conventions of the American Federation of Labor and of the various international unions and also the conventions of the State Federations, have by resolutions urged the membership to make safety their first consideration when plan ming to set aside a reserve fund
 During the past few years the writer has been in charge of the Or ganized Labor Department of the Government Loan Organization Ca part of the Federal Reserve Bank of New York system). In a position to know of the many and devious meth ods and ways of the supercrooks for getting the workers savings and be- cause of this knowledge and because we all know of a certainty that the national banks of our country, being under the direct supervision of the Government, are absolutely safe and sound, l am urging you to give at tentoin to the Compo Club plan Of banking.
 'The Compo Club is a service rem dered to the worker which makes 1t easy for him to have bank account without the inconvenience, loss of time and, therefore, loss of money in going to the bank personally
 The Compo Club plan is safe be- cause 1t makes it easy for each indi- vidual member to have bank account in a nationally supervised bank where his money works for him earning in- terest, yet is always available
 'In this Compo Club plan, I am ~0nnactaI u-1th sponsible for much of the success of he Governmental thrift work-men who are thoroughly dependable and -eliable and whose experience has made 1t possible to develop a suc- ,essful plan of accounting which al ows the bank to handle small ac- counts in groups economically and to are for small deposits regularly i
 .'It is good policy to play safe. We york hard for our money. Let us ! put 1t where we can get 1t when we leed it-where it will constantly in rease III value. Let us tell the man vho makes all kinds of foolish prom , ses fextra rates of interest, division 't fabulous profits, etc, that we will ,eep our money where 1t is under Uncle Sam's supervision because we now 1t vii lbe available at any time Let us tell him, in short, that he cant azz on our money. |
 The details of the Compo Club Ian of banking can be had on in uiry to the writer. I will gladly CO perate with your shop representa- me his name and address.
 "Fraternally yours,
 "JOHN L, HARTNETT, Director of Organized Labor Divis-
 ion, Compo Clubs of America,
 the National Tradesmens Bank X
 Trust Co.,"
 Here is what your leaders say about ompo Clubs: Whereas, the leaders of organized Dor have through resolutions passed the conventions of the American ederation of Labor, the various in unions and State Fedora Ons, urged the workers to make 1 lfety the first consideration in their t ans for an emergency fund, and I 'Whereas, each of us has had con | ant evidence of the losses sustained 8 workers through the activities of r e master crooks, fakirs, schemers Id con artists, who are constantly ying their nefarious trade, selling g ocks, bonds and schemes which are t solutely worthless; and \ "Whereas, we, the undersigned, be- il we that the safety of bank account il akes 1t the ideal method for the use g the average worker in maintaining II fund for protection in time of need d have investigated the plan for [ cup banking as used by the Compo tr ubs of America, it's particularly ad- a ntageous points being: rt safety. The depository al the Compo Clubs of America is h. tional bank operated directly under vernmental supervision.
 '2-Convenience. Accounts are tt ened and regular deposits made in N ; department where working, thus a 7ing the expense and inconvenience in going to the bank with each de CT sit. ar .a=All deposits draw interest from q.