Evening star., 1930-06-27
D. c. SECURITY LAW
NEED EMPHASIZED
Better Business Bureau
Hears Report on ACtivi-
ties of Year Past.

The need of a securities law for the
District of Columbis-"any securities
law"-was emphasized by the Better
Business Bureau today at the annual
meeting, which was held at the Ma
tional Press Club
Louis Rothschild. director, reported
to the meeting that Notwithstanding
efforts of the organization, thousands
of dollars were lost through frauds dur
ing the year past that could have been
prevented under a securities law.
The bureau handled 4,72I cases in
the year. of which 2,080 were shop
ping Investigations; 1,746 other investi-
cations and 895 consumer complaints
of merchandise nature. The bureau
has kept within its budget, Mr.. Roths-
child reported, and handled 240 more
cases than in the preceding year.
Advertising Accuracy Is Aim.
"Our aim has been more than lust
truth in advertising" he said. I'VE
have striven for complete accuracy, the
whole truth, and nothing but the truth,
and thanks to harmonious. constructive
support by advertising mediums and
merchants themselves, much has been
accomplished"
Probably the most constructive step
of the past years activities" said Mr..
RothSchild, was the opposition to the
use of superlative and extravagant
statements in advertising While sell
dom actually misleading to the intel
ligent public, such advertising is def
initely destructive because it inspires
disbelief, appears ridiculous and tears
down public confidence. Particu-
| larly, the subpect of bureau objections
we're claims of underselling in price all
competitors. Experience, not only in
. ht1t 10 fFu
definitely shows that it is physical i'm
possibility for any retail establishment
to live up to such an announced policy
Mr.. Rothschild said that the bureau
was still hampered by the lack CT Gny
specific law to prevent fraud in security
transactions" but that it had met un-
precedented success in its campaign
against promoters and salcSmen of
worthless securities and against conf
dence schemes.
Mr.. Rothschild emphasized that the
bureau is not opposed TO speculation as
such.
The bureau does feel that when a
person speculateS, or buys specula tive
security, that individual should know
the risks involved and should not be
mislead into thinking that gilt edged
conservative investment is being made,
he said.
Lie IGpOIJ Ul LnB treasurer was maze
to the annual meeting by F. C. Ad-
olsen, jr, president of the Security
Savings SS Commercial Bank
The bureaus nominating committee.
of which B. B. Burgunder is chair
man, reported the nominations of "a
prominent WaShingtonians who will
serve as the board of trustees for the
fiscal year ended June 80, 1881. They
were elected as follows:
F. G. Addison, jr.; Edward C. BaltZ,
Isaac Behrend. Y. E. Booker, B. B.
Burgunder, A. E. Case. Joshua Evans,
ir.; James Hardey, William G. CALI
her. M. G. Gibbs Ralph Goldsmith. E.
c. Graham. Gerald D. Grosner, Harry
H. Hahn, H. G. Hoskinson. Thomas E.
FARRELL and Sylvan King.
M. A. Leese, Louis Levay, John D.
Leonard, H H. Levi, r. B. H. Lyon,
G. H. Pope, Herbert j. Rich, L. E.
Rubel, H. L. Rust, Herman M. Shapiro,
| Abraham Sigmund w. w. Spaid, F.
P H. Siddons, Anton Stephan, Arthur
Sundlun, Ben T. Webster and Claude
H. woodward and Philip L. Baldwin.