Milford chronicle., 1925-05-15
A WOMAN'S STORY
By THOMAS N. DYSART
Member of the Board of Governors
of the Investment Bankers
Association of America

In the preceding article 1 gave
brief inventory of the colo
sal, wealth-producing enterprises Of
this country. l said that every Am
erican should, for his own good, and
for the upbuilding of his country
have at least a few dollars invested
in these sound enterprises. How,
then, can the inexperienced know
how to discriminate between the
many that are good and the few that
are bad?
The best answer have found to
that question, in almost lifetime in
the investment business, was an in
cident 1 saw in an investment bank
ing house in a large Ohia city. A
widow, about S5 years old, mex
perienced in business, wished to in
vest $4,000 of life insurance, which,
with household goods and an auto
mobile was all her husband had left
to her and her two little daughters.
"Oh, 1 don't know what to do"
the woman said tearfully. Some say
this is good and that is bad. Others
say that is good and this is bad"
1--WE won't take anything on hear
say" replied the Ohio Investment
banker. You are going to invest
your money safely and you are go
ing to know you are investing it
safely. First, promise me you won't
invest or lend a penny for two weeks
Keep it in the bank. Next you must
inquire thoroughly if this firm is
honest. Above everything else you
must know that the persons you
deal with are honest and experienced
1 want you to take two weeks doing
that. The worth while investments
aren't going to melt. You don't
have to snap up anything. You must
go slowly.
But what will I ask about you?"
The widow interrupted. Whom will
I ask? I don't know any banks or
what to"
write then" said my friend, "to
the six largest banks in the city.
Ask if this firm is honest, exper-
fenced; how long it has been in bus
mess. Ask the same questions Of
your minister, your doctor, lawyer,
dentist, your late husbands en-
ployer, and of every reliable man
you know. Meanwhile, I want you
to read carefully the financial pages
of a morning and afternoon news
paper every day"
He named two newspapers. The
woman was amazed.
"You probably never have read
financial news" my friend explained
Most women and a great many men
have not. The stories you have
read of robbery, theft and fraud are
not financial news. They are in
formation on crimes. For every
security offered there are
a thousand honest securities offered.
For one investor swindled, thous-
ands invest safely But it is not
news if a thousand persons invest
safely while it is news if one man
is robbed. I want you to read finan-
cial pages, the news of honest busi-
ness, not the news of crime. You |
needn't bother about reading the |
daily market quotations, unless you |
wish. Price fluctuations do not |
concern you. You are looking for |
values, not prices. Now don't |
don't lend a penny to kin
folks, or anyone and when you are
this firm is honest, come
back and We'll talk it over"
Later 1 learned that my friend in
vested the widows $4,000 in six
zen different bonds. Safe? Abso-
utely. But the big thing L m driv-
ng at is that for any person who
wishes to accumulate, who can get
$1OO or more to invest, the
ldvice that Ohio man gave the wi
low is pure gold.