The Birmingham age-herald., 1924-11-08

Esss ess' esss!:'ss.s; si:s;ss ssss :s;s Ss #
 70 or'I, been nA1u such ha a fB.C.:FpRBEs; tramble for slices of the German gov
 nment loan here, the arriving money kisers figure that 1t should be easy to
 arket their German wares.
 So many schemes have been natcneu
 separate Americans from their money hat the American Chamber of Com
 erce in Germany has issued this warn
 SThe gratifying interest evidenced by
 merican bankers and by the American h,hlic in German securities which found xpression above all in the successful
 citation of the reparation loan, Is realty jeopardized by the offering in
 merica of German securities which are ntirely unsound and which in no way he suited for investors in foreign coun- -ies. We consider it our duty to warn be American public against such in- estments."
 ,rhe Germans succeeded so well in uliine hundreds of millions of dollars ,,t of the pockets of foreigners in ex- henre for worthless marks that It IS nj astonishing a similar dodge should ow, be attempted by means Of German onds and stocks. German government thorities lent themselves to the coios- al mark swindle. Now, however, Presi- ent Schacht, of the Reichsbank, mas oin.d alarm over the activities of this ew crop of schemers and has declared hat If necessity arises, the nefarlous anne should be squelched by effective egislation. E
 Tn this country a warning has been ounded by Charles D. Mitchell, presi- ent of the largest banking institution the United States. The German chemers are not receiving any co- peration and will not receive any rom uch institutions as MT Mitcnens Na ,onaI Citv bank, the Guaranty Trust o,nnanv. or the Chase National or the sn,,;t able Trust, or the Bankers Irust New York. or the best banking inst- Itions and firms in Chicago, Boston sh;ia delnhia. San Francisco, New or oans St. Louis, Los Angeles, Detroit |Ieyeland or other leading cities. But, nfortunately, they will qontrive 10 llnu ,,, in this country wno VII npear to the unwary to be concerns bf repute.
 arr,rst nick your bond house. then kick vour bond" Is a motto Amerlcan Ia vestors should make their own for'h-
 
 with. z
 This column has never voiced wnole- Lal condemnation of foreign porrowlns E h, l United States for the aoequats .eason that there are occasions When - Tis in the interest of this country to ,,.a;sh caY,itaI for certain foreign DOT .owers Thus far in 1924 we nave #,oafed foreign obligations to the total If, a billion dollars. And other roreisn oans will be offered Whicn IL VIII oe alright for us to buy.
 p,,t vve are now threatened with de- upe of unsafe securities. Represents, ives from other countries no doubt VIII 3,orne along and try to get us 10 puI Srhase obligations not marKetaple .;, 1 home; but the lead unquestiohaoiy ""' De taken by Germany. over their savings to questionapie ter man borrowers when there are an apun' 35ance of attractive investment opportu *rities inside our own borders! Com &nentins on what was said in this col ,mn the other day about opportunities %for investment in the south, Richard n Diamonds, editor of the Manufacturers SRecord, Baltimore, writes: "I am glad you struck as a keynote ,ho onnortunity for investment in the south. A few days ago, l receivea letter from an important town in Ten, Ten, n essee stating that money on the very .I,eet of security was commanding ron ' 1o W to 1s per cent. If the great banking houses of New York which nave Deen l so eager to pour billion dollars oi more into European securities woulc with equal activity investigate the s.Oe. Op. Sportunities in our own coun.S, ., ,hsx would o find that here is field for in. vestment. for constructive, lpssnt upou,tdins n; this entire country to far greater ex' tent than can be brought about by Tn 3vestment in Europe, with all or the un' certainties which must inevitably at lend loaning money to Germany ana te German business interests"
 When invited by glib-tongued gentry to buy German bonds not sponsored ns Ethe highest grade of American invest ment bankers, just recall what nap pened to those who were lured into puy' ling German marks.