Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-20

ton schemes now
operating here are under investigation,
he said.
The bureau is not opposed to specu-
lation as such" said Mr.. Rothschild.
THE bureau does feel that when g
person speculates or buys a speculative
security that individual should know
the risks involved and should not be
misled into thinking that gilt-edge
conservative investment is being made"
The bureau, however, is active in its
campaign against the promoters and
statesmen of worthless securities and
against confidence schemes of various
types and kinds.
Warnings are being issued weekly to
the members of the bureau of sus-
pected proposals and it is becoming
increasingly difficult, he says, for the,
promoters of unworthy schemes to even
get a bank to accept their account or
70 gain entrance to the better Office
buildings.
Losses Continue.
Washington investors, however. con-
tinue to lose money through invest
rnent in worthless securities, according
TO both Mr.. Rothschild, and prominent
bankers who were exercised over the
situation here today
During the past week a total of 81
financial inquiries have been answered
by the Better Business Bureau as re-
suit of its before You Invest-Investi-
gate" program. This brings the total
number of inquiries answered to date
to $3.50.
A law for the control of the situation
here long has been advocated. Though
there Is some difference of opinion as
to the form the law should take, all
sound financial and business interests
of the city are united in a demand for
legislation which shall protect the in
weston.
The District of Columbia Bankers
Association has Committee on Law
and Legislation, which has been active
on behalf of that association in pre-
senting its case at hearings before con-
gressional committees on the matter.
r. G.. Addison, jr., president of the Sc
curity Savings & Commercial Bank,
who is also treasurer of the Better
Business Bureau. is chairman of the
associations Committee on Law and
Legislation, in charge of this matter.
Mr.. Addison still has hopes that legis-
lation may be enacted to curb the
evils Of the local situation, and to
further protect the public.
McLachIen Plans Meeting.
Plans are being made by Lanier P
McLachlen, president of the District
of Columbia Bankers Association, for
the regular monthly meeting OF the
council of administration of the
association, Friday, August 90. There
will be committee reports and discus
sion of plans for the Fall
The regular weekly luncheon meeting
of the District Bankers Association was
held today at the Willard Hotel.
An interesting development in trading
on the Washington Stock Exchange to-
10. ,F - lAs~
Drug Stores preferred, starting at 1884,
and falling of finally TO 1925 George
town Gas SIS sold at 1924, Washington
Gas IS at 103Ts- to 10334 and Washing
ton Gas IS A at 1903. Merchants Bank
g. Trust Co. turned over at 125, and
Mergenthaler went at 96A.
At least six financial houses in Wash
tngton will be represented at the annual
convention of the Financial Advertisers
Association, to be held in Louisville
September II to 20. according to Eliot
II. Thomson Of the Washington Loan
& Trust Co., who will be one Of the
representatives. The others probably
will include John Poole. president of
the Federal-American National Bank;
Bertram Chesterman, president of the
Morris Plan Bank of Washington Mel
son B. O'Neill, manager of branches
of Riggs National Bank: T. Hunton
Leith, assistant cashier of the Security
Savings a. Commercial Bank, and Rob-
ert L. Father Of the American Secur-
ity g. Trust Co.
The theme of the program is to be
"The Challenge of the Next Decade"
and the speakers will take A broad,
long-range view Of business and banking.
P. j. Mcmahon, assistant treasurer Of
the Munsey Trust Co., is on vacation
at Atlantic City.
Eugene E. Thompson Of Crane Paris
e. Co. is in Detroit, Mich, on business
connected with the Associated Stock
Exchange, of which he is president.
w. w. Keck, assistant treasurer Of
the American Security g. Trust Co., Is
on vacation in Canada.
Earl @. Jonscher. assistant trust
oficer of the American Security &
Trust Co., Is on vacation at Union
town, Pa.
r. O. Marx, auditor of Riggs National
Bank, is on his annual vacation.