The Washington times., 1925-10-14
This Law Should Be Enacted.
Support It

The District Commissioners have announced that they will
present to Congress comprehensive plan Of District lesa
don The program will include model "blue sky law
Presumably the program will be presented immediately
after Congress convenes in December This will allow the
Senate and House District Committees ample time during the
coming long session to thoroughly consider the bills
The blue sky should have the support Of every District
citizen Such law has been sorey needed here for years
enacted viii prohibit the sale offering for sale of
fraudulent securities Promotion schemes designed TO trap
theunwary would be npped IN the bud,
The Better Business Bureau its establishment here has
been Wagg aggressive fight against fake stock promoters
Under the present District laws clever but INSCRIPTIONS
operators touched by the police The bureau has
been seriously handicapped by lack Of adequate legislation
While has been able to number Of questionable
promotion games has been without legal aid in breaking
them up
Many States have blue sky laws They have curbed the
crsdulies Of the ignorant with little money to invest
In the Nations Capital the only curb has been applied through
educational campaign conducted by the Better Business
Bureau with the cooperation Of local financial institutions
The motto Before You Invest Investigate framed to
reach the small investor The Government worker has been
the special goal Of the educational campaign he suffered
severely from the depredaons Of fake stock saesmen
tour salary small You must 1,, invest wnsrs you wil
cent Come on chance" This the song that has
lured many Government workers to financial ruin.
Columbia today j. evident Louis RoTHsCHu.D newly
appointed director Of the Washington Better Business Bureau
ton campaigns by men attempting
bubble booms Mr. Rothschiids excellent record as
assistant director promote truthful advertising the
District il well business circles He has
respect and cordial support Of all thinking Washington bust
ness men,
In Ohio where good blue sky law is in effect Mr.
Rothscnd said there little trouble with these fake booms
Legitimate business there has been greatly aided by the law
Descriptions promotion drives have District citizens
fortune since the Ohio law placed the books The
Better Bureau win be delighted the passage Of
model blue sky law for the District.
Under the blue sky law would be per-
mtted offer for sale any stock security without permit
Permits would be issued by blue sky commission created
administer the law Thorough examination Of every
ton plan would made before sale could be completed
The District blue sky law should contain extradion
clause Lack Of this clause in of the State laws il is
stated has resulted m increase Of fraudulent stock sales
By mail
Other features Of the Commissioners legislative program
deserving Of staunch support The program announced
includes farreachng public welfare BILL anti toting
law and egaton regulating the practice Of oseopathy and
chiropractic.
The welfare bill passed BY the House last session thanks
largely 70 the untng work Of Congressman OSCAR KEEL
LER, Of Minnesota Congressman Keller Of Che first
city commissioners Of st. Paul. gained deep insight into
the necessity for proper coordination and supervision of
welfare work in any large city The met with OBJ
lection in the Senate This objection it is hoped will be met
in the new bill The proposed bill calls for consolidation Of
the Board Charities the Board Of Ohdrens Guardians
Training School for Girls and the Reform School
for Girls
The need for other proposed bills obvious They
should be passed this session.
Il