The Washington times., 1926-04-14

Al You, have lost nothing, or only
little, you are fortunate for, &C.
cording to an estimate made after
consultation with reputable bankers
and the officials OF the Better Busi.
ness Bureau, who come by the facts,
unfortunately, often too late to save
the situation, the people Of Wash.
Lh8ton during the past year dumped
1rom $1,000, 900 to IS, 900, 600 into
the laps of fake or fraudulent stock
promoters and the equally repre-
-0ensl0se fake real estate pron1Ot sr.
1t is estimated that, in che entire
country, over 81 500, 900. eco were
aiken from the people last year in
fraudulent investment schemes.
Inc amount Is astounding. and it
- all the more serious when it IS
considered that the major portion
sWas collected from women. mostly
WIDOWS and others of small means.
VINO unaccountably, seem reluctant
TO take advantages Of the safe
guards provided to assist them in
conserving their capital.
= One reason why Washington proves
such desirable picking ground for
the promoter OF the questionable en-
terprise is. possibly, the fact that
there is no blue sky" law in the
District OF Columbia.
This viii, eventually, be reInedied.
There Is bin in Congress at the
present moment creating this safe
guard against the schemer from
without who preys upon the cred
ukty OF ignorant women and foolish
men, and it is the hope Of all legi:
mate businessmen that the bin lie
come 2 law ut the earliest possible
moment
In the meantime. however. there
AZ already at hand protection for
those who will avail themselves
Of H.
Investigate before you inpest' lie
= bit Of sound advice given by the
Nssiiington Better Business Blu
rean
This laudible institution does
more. however. than offer advice.
- 1t win assist those I'm doubt as to
the nature of enterprises in which
they are asked to place their money.
The Better BUSINESS Bureaus. in no
instance. recommends investment.
It's function is to ascertain and TO
give the inquirer the facts.
After that it is up to fl1e indi
viduaf No organization can talk
the fool out of the system Of
AN individual determined 20 listen
to the tempting voice Of the fake
! promoter
It is not generally known that
there are in existence sucker
lists whereon are the names Of those
who have been found easy picking
by. the fraudulent stock vendors
and 1ongshot't promoters.
These lists often sell at a hgih
premium for the gentry who thrive
upon the foolish investments of
Others work upon the theory that
most people who thus gamble away
their patrimony are repeatefs and
can be sold again regardless of
their previous unfortunate expert
ences.
z. A few people, according to best
available records. learn the lesson
5of experience and become wary of
the promoter who blows into town
with roseate pictures and promises
Of huge fortunes.
But many never learn to resist
the lure OF the salesman and their
names are never erased from the
sucker lists.
s II must not be understood that all
: promoters are crooks. that all stock
selling campaigns are questionable.
On the contrary, there are many
honest stock statesmen and many
honorable and safe enterprises
wherein investment takes no more
than a reasonable and proper risk
= There are investment brokers and
Investment houses of the highest
Integrity and the most scrupuIous
honesty
These are at the service of all
With capital seeking legitimate In
yegtmeHt. Also there are the high
F1na1 hfHGinnc1 H.
: cial institutions who place their
! experience and their advice at the
: disposal of their clients.
The great wonder is that such
"a multitude of people, especially
such a great multitude of women
IMMERSED in business. will deliber-
ateiy refuse to investigate before
investing or to consult a reputable
banker before turning their funds
: over to the peddlers Of worthless
: stock or the promoters of enter
prises doomed to failure.
Occasionally "long shot" wins.
Ninety!nine times out of a hun
: dred it does not. That accounts
! for the millions taken from the
people Of this city last year and
: the five and one-half billions in
: vested in like manner in the
United States.
+ Usually there is no redress for
: the. investor. Often the company
IN which the investment was origi-
naily. made finds il can go no
farther and it disappears while the
: promoters form a new company and
: come back to the easy-pickine
: grounds for more capital.
When doubtful of an offered in
OBSERVATION-DISCLOSURES