The Birmingham age-herald., 1924-06-15
INVESTMENTS
BONDS AND ONES BUSINESS
By T. H. MITCHELL

bUNDS AND ONES BUSINESS
 One of the frequently used yardsticks in measuring the accumulating ability of America before the war was the fact that II 100000 persons had $5,0O0, 900. 600 in savings accounts. That was con- sidered quite sizable, but it was soon put in shadow when 21 ,000, 900 persons brought forward 22,OOO, ,O0O, 900 in five Liberty bond drives and by the fact that savings accounts kepb right on growing Now more than 30,000, 900 persons in this country have savings accounts which approximate $17,O0O, 900, 900. Many Liberty bonds have gone from the hands of small holders to be re- placed by bucketshop receipts, doubtful or worthless stocks or faint memories, But the source of all this wealth still remains, greater than ever before. Wages have increased and the wealth in the hands of the average man and woman is greater than ever before in America. That is why bucketshops and frauds are so persistent It is the rich est field for fraud in the world. That is also the reason why every possible dol lar should be kept in active production of more wealth. Americans demand more of the expanding comforts of life. To meet that demand for better homes, automobiles and other necessities and luxuries, the production of wealth must be increased, and capital must be sup piled, if the distribution of wealth is to be increased by industry and commerce.
 Louis M. is simple example of the opportunity, and need for capital in legitimate enterprises today. Louis NJ. runs the neighborhood grocery in an outlying district in Chicago. When the after-war depression struck, Louis M. had $1,OOO saved from the profits of his one-man grocery store. Louis NJ. wished to expand his business, but was bit afraid during the hard times. A young bond salesman accidentally heard of Louis Nj. and his $1 900. He sold Louis NJ. good bond. Money rates were high, go Louis got the bond at a very attractive level. He was lucky, too. He had sought a reputable invest ment house. He might almost as readily have brought worthless piece of paper from a salesman who promised 10 per cent, 20 per cent, or any extrayagant re- turn. that might seem good sales talk.
 When the depression passed Louis sold his bond at an increased price and expanded his little store. His increased business has enabled him to make the first payment on little home. Louis Nj. is on the road to financial indepen- dence. But he might still be long ways from that desirable road if the right kind of securities dealer had not hap pened to call on him, for Louis NJ. is like so many thousands of other Ameri- cans who do not know that before you invest you should investigate, not the security itself, but the integrity and the capabilitF of the man or the firm that sells it.
 Another actual instance showing the value of bonds as investments is that of civil engineer.
 "I never saved penny until l was almost 40 years old" said this man, who Is now wealthy and a large holder of apartment houses and rental prop erty. "I got fair salary, and spent it all. One day the company gave me a small bond as a bonus. 1t made me sore. I wanted the bonus in money. I'd have to go to little trouble to spend the bond, so I kept it. After awhile l discovered I hadn't missed not spend- ing that money. The little semi-annual interest came in. 1 got interested. At almost 40 got the saving and investing habit. That's more than 20 years ago now and here's how figure my returns since I became an investor, and later, my own boss:
 Bonds, 1O0 per cent, meaning that interest received and increased values have doubled every penny l ever saved and put inte- bonds. ~t..-
 Real estate, 60 per cent, meaning that rents, rent saved and increased value of my property have paid me back $16 for every $1O that 1 invested. l bought my first real estate years ago with the aid of bonds that enabled me to obtain the lOan.$
 Mortgages, 50 to 60 per cent, mean ing that every penny that l have saved and lent on property has returned in a period of years sum equal half the amount invested, or more.
 My first investments were guided by good advice, that of an executive of a big corporation for which l worked. He showed me that, although l could at first invest only small sums, there is a safe bond for every investor and saver. There's no excuse for anyone accepting an inferior security. I've never tried to