Evening star., 1923-10-28
1,2(O BANK HEADS
: | HERE ! FOR MEETING
Investment Body to Open
% Sessions TomorroW-Plan
War on Fake Stocks.

Approximately 1900 investment
bankers from organized interests of
the United States and Canada will
have arrived here today to attend the
twelfth annual convention of the In
vestment Bankers Association of
America, which opens its three-day
session tomorrow at the New willard
HSfsl.
f,Prpblems of far-reaching impor-
tancA, not only to the bankers and
business world, but also to the mil
lions of investors, will be threshed
out ways and means, by leg station
ahH Wy education, to protect the
puh1ip against fake stock promoters
apdrl salesmen and to steer the in
sveStneht funds of the nation through
safaihnd wise channels will be de-
yised.
Two commissions appointed by the
association will report their findings
on tAermost effective legislation to
understood that legislation under
which New York state proceeded so
effectually against bucketshops will
be recommended for cons deration
.--...rMYork done in New York city
1 bee1-bc~n excellent" according to
J OH. Speed Elliott of w A. Harrima n
i& Cd ASvho says officials and bankers
svo&Sed hand in hand Two i'm
!: :po4Ir gnethods are employed in this
ia n ia 4 b. One is by means of the
bluN SKI laws, while the other, which
shas proved so effective in New York,
tGonkfs6 of close scrutiny of the
.actiYEzes of doubtful security sellers
And61DH arresting men guilty of fraud.
lTh& latter method, in my opinion
~ Il Hn int nF % -
sthe association, is the most effective
ySet devised
n Backed by ID. c. Bankers.
II Which ever practice Will be adopted
twill meet with the wholehe&rted ap-
lbroval of Washington bankers, who
perhaps are the only ones who clear
lily visualize the far-reaching propor-
itions of the fraudulent stock evil in
this city.
= This will he the first convention
iheld by the investment bankers in the
National Capital. and because of the
benefits which are expected 10 result
from the close contact with the heads
! ef the various government depart
rnents and bureaus, has aroused wide
sspread interest among bankers
throughout the country. Indications
sAre that in point of attendance TINS
,eonvention will eclipse ali previous
gatherings of the organization.
sE High OfflclalS OF lhS So'NAiil
.will participate in the proceedings
{of the convention. the outstanding
feature of which will be recep-
ton of the delegates at the Whlte
House by President Coolidge.
Outstanding features on the pro-
gram will be addresses by Secretary
of Agriculture Henry c. Wallace
Postmaster General Harry ). New,
Assistant Secretary of the Treasury
Garrard B. Winston, DR.. l.. 5. Rowe.
director of the Pan-American Union.
David F. Houston, former Secretary OF
the Treasury, vino is now president OF
the Bell Telephone Securities Company,
and Elliott II. Goodwin, vice president
of the Chamber of Commerce OF the
United States
Extensive plans have been made
for the entertainment and comfort of
the visitors by the Washington In
vestment and Commercial Banking
interests, who have been at work for
the past two months completing the
numerous details in this connection.
Ball mt New willard.
These include ball at the New
willard Hotel Monday night. at which
officials of Washington banks and
investment houses will be hosts. and
an elaborate banquet at the same
hotel Tuesday evening. This will