Evening star., 1925-02-13
FEWER BAD STOCKS
OFFERED TO PUBLIC
Better Business Bureau
Finds Fraud Curbed-Rec-
ord Exchange Session.
BY CHAS. p. SHAEFFER.

Tho Washington investing public
no longer is being harassed by fraud
ulent schemes of promotions OF
major proportions, Howard NJ. Cool,
director of the Better Business Bu-
reau, reported this morning.
This statement, 1t was explained
was not to be construed to snean that
no questionable stock and bond deal
ing is under way in the District
There Is scattering OF undesirable
clement operating here who have as
their working point the switching of
oisgruntled holders accounts from a
security that has a future to some
thing that has only a mythical value.
For instance, shareholders in
relatively new concern which has
not operated a sufficient length of
time to earn a divident are
advised to transfer their holdings
(usually together with a sum of
money! to an unheard-of issue
| which later evolves into pure
and simple fraud. In this instance
the promoter gains the benefit of
what little market the one security
has, which the investor is left with a
| stock or bond of no marketability
| whatever
Even these cases are less frequently
being reported to the bureau Mr.
y
| to a general feeling of discourage
ment on the part OF fraudulent pro-
! moters here, who have long looked
| upon Washington as one of the most
fertile fields to carry on their oper-
ations. There are still deluges OF
| letters in the daily mails from tip
! stors offering investment and specu-
latiye information. but, due to the
strenuous educational campaign tina
| has been carried on, the bulk Of this
| matter falls on barren soil.
Re-EIeceed Steamboat Head.
Levi Woodbury., the grand oil
| man" of Washington business cir
| cles. was yesterday reelected presi-
dent of the Norfolk & Washington
Steamboat Co. for the ensuing year
Clarence F. Norment was renamed
| first vice president and Daniel J. Cal
lahan second vice president and gen
| eral manager Odell S, Smith was re-
named secretary and treasurer.
Mr.. Woodbury. was born in Salem,
N. H, in 1884, later migrating u
Washington, where he was at on"
| time steward and later lessee of tn"
| st. James Hotel He was associated
| in the organization of the Norfoli.
! and Washington Steamb boat Company
and has been its president for many
years.
elected for the year: Milton L. Allies.
| Charles J. Bell, d. J. Callahan, G.. W.
Forsberg, Clarence F. Norment, Clar-
ence F. Norment, jr.; William Z. Pear
| son, B. Francis Saul, Odell S. Smith
and Levi Woodbury..
Local Trading Heavy.
| The heaviest session of the year was
| recorded on the Washington Stock
/ Exchange this morning, with Wash
| ington Railway and Electric pre-
| ferred and National Mortgage and
Investment preferred marked leaders.
| The former sold to the extent OF
| o63 shares, recording a net advance
! of Is points on the day to a new
| ex dividend, as was also the common,
and none offered. National Mortgage
failed to advance, although changing
| hands at 9ss to the extent of 1,160
shares.
Capital Traction was traded in,
! mainly in small lots, at 90. Mergen-
| thaler was compare lively active at
| 170I2, and Lanston was firm al ISL,
and 7Sas. Gas was easier a. 5sls, ana
| 80 shares of American Security anu
| Trust Co. brought $50.
| Bonds were quiet and unchanged.
Banker Leaves South.
| George Q. Watson, president of the
| Liberty National Bank, who, with
Mrs. Watson, has been wintering ia
! Florida, will return to Washington
| tomorrow and take up his duties on
| Monday