The Washington times., 1927-06-15
FAKERS AT 7 { R
BOND FUNDS
b. RICHARD HATTON


Redemption Of the Second Lib
erty Loan win place some two bill
lions of dollars in liquid funds at
the disposal Of thousands of small
investors within the next six
months" states bulletin issued by
the National Better Business Blu
reau in which a warning is sounded
against the fake promoter and other
schemers who will become active as
soon as a large amount of cash is
available for investment.
According to reports" states the
bulletin, 80 per cent of the original
purchasers still hold their bonds.
Since nearly one-half the total issue
Of $3,808, 100000 has been converted,
the bulk of the remainder is held
by those who subscribed in lesser
amounts. It is this group which
viii be importuned between now
and November Is, the redemption
date, by the lower levels of finance
to scatter their substance to the
winds. Conversely, reputable in
vestment firms and agencies will
urge re-inYestment in sound enter
prises and securities.
Expert operators of financial
frauds are well aware that a sub
stantial part of the public will
shortly have this money in lump
sums and that many bondholders,
impressed by the Governments
prompt payment of its debt, will be
receptive to their advances. They
have planned their campaigns and
timed their barrages to coincide
with the payment date.
No organization or Government
can keep a man from spending his
money as he will. But if he wants
1t invested in projects both safe and
profitable, he must make his choice
on the basis of realities.
For the thrifty owner Of Second
Liberty Loan bonds, sources of de-
pendable information are ready to
help him. Leaders in financial cir
cles have definitely pledged them
selves to do all possible to prevent
the exchange by bondholders of
good securities for worthless. Bet
ter Business Bureaus will gladly
furnish data on questionable securi-
ties.'
Speaking before the Ohio Bankers
Association at Cedar Point Ohio, to-
day, DR.. Benjamin M. Anderson, jr.,
economist of the Chase National
Bank of New York, repudiated en-
phatically the idea that banks desire
TO control businesses or that they
DO in fact ordinarily exercise control.
He said that anyone who realized
the dissatisfaction and inconvenience
which came to a bank when the
Finannio1 aINs,Ys - 49,
made 1t necessary for the bank to
Interfere in his affairs, in order to
protect its position in connection
with overdue loans, would have no
doubt on this point. Banks prefer to
deal with men who know their own
business. The business of the banker
Is dealing with credits.
The board Of directors of the
United States Savings Bank at their
regular monthly meeting ordered the
payment of the usual quarterly
dividend OF III per cent, payable
June 80.
The United States Savings Bank
has a capital of 100000, a surplus
of $4,000, undivided profits of
about 100000 and total resources
Of nearly $S,OOo,OoO.
The Department Of Commerce is
Issuing today study of the coal
Industry in Europe which contains
Information of considerable interest
and value to American shippers of
toal and others interested in the in
ternational coal situation.
r. e. Fitz- Gibbon, of this city.
has been made vice president in
charge Of the sales of the Tours
Finance Corporation, a subsidiary
activity of International, Tours,
Inc, Of Hagerstown, Nd.
F. A. Brewer & Company. Of
Chicago. announces the appoint.
ment Of s. H. Wolberg, located in
the Munsey Building, as their cor.
respondent in Washington.
OIL STOCKS
GFuEnished by W. B. Hibbs & COY