Evening Star Newspaper, August 4, 1923, Page 3

Greater Era Seen for U. S. . Despite Stock Thieves Sincere Efforts by Public Officials and Exchanges Seen as Meaning a Lasting |Temporary Repaifs Being| Made to Have Executive | Confidence in Securities and Markets. XV BY R. K. TREVOR. (Copyright, 1923, by New York Commercial.) Legitimate investment enterprises are suffering today because of the harm which ha§ been done over the t decade by bucketshops and crooked promoters. The past few nionths have seen the American public fearful of buying any stocks because of what has been revealed regarding crooked finance. his is a condition which follows every big housecleaning of crooked financial affairs. There has been the sam rt of timidity recently by the public with regard to the stock market that was witnessed for a few years revelations on 3 pital, legitimate investment channels in se- curities, is diverted elsewhere or re- mains stagnant It is American industry which suf- s most from such conditions. Com ch need money for legiti- expansion and which properly ghould be able to look to the publ for the financing of their enterpri he ceneral development of Am san resources, are retarded in their growth. They suffer this handicap. Tot through any fault of their ow but because the spirit of confidence on which the financial structure must; rest has been so abused that the pub- lic is fearful of any longer trying to tell the good from the bad These companies suffer not alone, but the hundreds of thousands of wage earners dependent on the in- dustries which they represent suffer, as do the innumerable companies whose relations are interwoven with them and with the wage The restoration of the s fidence of the American publi stock market and in securitie: subject of concern reaching. fore, far bevond the spt securities broker. the . and the securi hes into every phase in_the there- of the exchanges of Amer- Restored and Ruined. How can that spirit of confidence restored? being done to restore it? de ored only to be ruined again. is time public confidence is not to tored until there are very plain eaning by | public and spe tacular play designed to satisfy pres- ent indignation. ences must be provided that a constant vigil is to mapping out their sading campaigns on the lines that all for that constant vigil are begin- re practical methods £ aga the evils of finance are being in the past ance, there may be cited st change which has developed gard to_the methods being 1ed in the efforts to curb crooked promotions. Attention has already been drawn r in which United S + authorities, in their ampaign against stock swind who use the mails, have bee _because of limited 1 s nd limited appro- rly. many state : organizations have Leen thus hampered. For the securities communities and the business communities to compiain SPECIAL NOTICES. ANNTAL ne N THE Bolders ecurities pro- | after being shattered, it! followed'| s ! years ago did not serve eflicient | K- | durk. 1about such conditions and to wait for {& change in those conditions might not accomplish much. A much more practical way would be for those Communities to recognize the condi- tion as it exists, and to do something themselves to supplement the work of the public authorities. And that is what honest finance and honest business is doing ; { Throughout the country there have Sprung up, especlally in the larger ities,” crusading business working for the e ication of fraud in finance and business mcthods. Tn a way these are outgrowths of the {systems which the newspapers de- | vised for the | vertising columns from bogus offer- |ings. ] } These organizations have * ole to spread a dragnet of investigatim over the field of crooke ock promn- ((fll‘! and to gather a mass of ev ne: { which the public authorities, because of limited appropriations and becausa of the necessit: in many cases of ;bt\lnu forced to awalt complaints be- 1fore being able to proceed on a prose- cution, could not obtain. Stopping the Salex. The private crusaders have been able to move against the sellers of ‘hr»(u< sccurities in the early stages of ope those individuals Taese organizations have proved par- ticularly valuable in taking up cases against the swarm of swindling pro- | moters who have plied their ~trade through the ‘“one call” system, the | telephone em. and the various ‘nther methods of personal solicita- | tion of prospects in which use of the | mails has been so studiously avoided. | In some cases the private crusading organizations have been able to place {evidence before the authorities, fed- ;eral or state, under which the latter could prosecute the offenders. In other cases it has been drive the swipdlers out of business by giving publicity to the methods which they were employing. Meanwhile the public are reaching out for new w |reach the swindlers. The United | States Tost Office Department and the | United States Department of Justice. | while waging the most aggressive jvampaign of their long battle a the swindling promoters, are vising what are expected to prove ef- | fective methods for secution of bucket shop practices. > attorney zeneral of New York state 1 ainst b authorities to paigns in the | are expected to adopt similar legisla tion H Fublicity the Cure. ™ been aiding in the cru i the bucketeers during the past few months in a manner suggesting that } the present dministrations of those i institutions are sincere in their ex { pressed determination to help stamp iout the work vigorox re- ! of a buc et shop system. | Not least importhnt is the fact that | these officials seem to have come t ' realization of | publicity can | forts to belittle stori tent of the bucket shop evil to curb that ievil. as was shown so plainly later. i but really proved of immense aid to the bucketeers. The more the public learns about | the manner in which bucket shops op- erate, and the sooner it ix told the truth’ whenever there is any real in- | dication that bucket shops are be- | coming active, the quicker the public | itself will put the bucket shops out of by refusing to give them The bucketeer. like any other criminal, works best in th He thrives on the ignorance i his victim. '~ | of publicity. TOCKHOLD) Inc., will be he 1 11th st. 0, PLAYER v head ‘tuner’ and rep er and Knabe Co. 0. M. M 0 Morton_st._C INSIBLE FOR ANY myself personaily. nw. 4% d_all bills 213 John e date to Gust M all_pl ¥ ES AND BRICK 0] metal garages to build at a saving to you. Kee what your money will do. Write N. D. HOLLOWAY. 7 Prince George ave., Tako o6 rsouother than INA. 35 H n.w. ® BLE FOR ANY other than myself. LL. 1467° Chapin st. n.w. 4% VANLOAD OF FURNI BEEINE . 1 . 10 PT. 17| other countries whom they swindled. ! . LOTS TO REPAIRED AND PAINTED. Call Main 760. Grafton&Son,Inc.,¥ i, 53,5 “Heating and Roofing Experts 35 vea CHAIRS UPHOLSTERLI. FURN l:l]lll H B ! P C. A. ARMSTRO) 1258 10t st now. Franklin Practical Roofers with @ reputation for doing things Every fob personally supervised guaranteed. Roof repairs our spe- Send for us today. ROOFIN 1422 F St. N.W. _COMPANY _ Phone Majin 933 NOTICE Tin Roofs—Slag Roofs REPAIRED AND PAINTED. Call Main 760, Grafton&Son,Inc., ¥ i am%, “‘Heating and Roofing Experts 35 years."” PRINTING ~—that fulfills your highest expectations {The National Capital Press 12101212 D et ». “Biggs Puts HEAT 1o Heating. You'll Save Worry —and inconvenience by ordering Heating Plant renewals and re- pairs at this season. Ready to serve you. The Biggs Engineering Co, WARREN W. BIGGS, President. 1310 14th St N.W. Tel. Frank. 317. The Adams’ Impress ~stands for satisfaction—plus in printing. “S1gb grade. but pot bigh priced. " BYRON S. ADAMS, [PHINTER, 1lth St ON_AND AFTER AUGUST Ist The Ironclad Roofing Co, Will be located at their mew address, ..3128 5th SL NOW. e, ™ 1 of people who Liberty Bonds. | The same is true of the vender of ! Over the past several e seller of fraudulent securi- | ti been able to ply a larger trade in this country than ever before because of the hundreds of thousands ad had their appetites urities through bonds | bogus stocks | whetted for chases of Ty { these people | securities until they i government issues, |~ The money which was stolen from {that vast army of securities pur- !chasers by crooked financiers went | the countless ways that stolen money {always follows. It went into insane {overhead, into speculation and gam- | bling by 'the thieves and into riotous | living. ! The work of the big thieves was |no more constructive than was that lof the little thieves—even for them- selves The house of cards built by i the bucketeers and the crooked pr i moters in this country tumbled in upon them, leaving most of them 1 “flat_ broke” at the end. The swin- {dling bankers in Berlin who made { markets throughout the world for the ‘lisrm n marks, which they knew that they themselves were going to make | worthless. apparently are faring not {one iota better. The terrific smash }in the mark in the past few weeks i has raised the question as to what is jto be left for the swindlers of the vast line of enterprises which the; were trying to build up at the expense of the people in_this country and purchased The revelation of the truth about the bucket shops and the crooked pro- moters as it is now being revealed proves a terrible shock to the new army of securities buyers which this country had gathered together through its liberty loan campaigns. But one of the lessons it has taught them is the lesson of the real oppor- tunities which lie in legitimate finan, Also it has taught the se- today. | organiza- : directed by public-spirited men, | protection of their ad- | ible to | ablishing | of ! He cannot stand the light had never bought any | the | IRUSH WHITE HOUSE | IWORK FOR COOLIDGE; E Mansion Ready. i - ( | ‘Temporary repairs are rapidly be- ing made by extra forces of work- ! imen who will labor night and day to |put the White House and executive: office in condition for President ! Ccolidge. This work will be done! {under the personal supervision of | {Col. C. O. Sherrill, officer in charge’ of public buildings and grounds. ! Shortly after President farding left Washington on the Alas- | kan trip extensive alterations and re. | pairs were started, but these have| {now been altered and the temporary | repairs put in progress. Col. Sherrill | {also will rush the work of making | {the front grounds more presentable . {without delay The grounds and the driveway in front of the executive | office were dug up in connection with | | the alterations originally planned. | { A large force of workmen today is | busily engaged polishing up the mar- | )hle and putting up the hangings in ‘lhe various rooms of the White {House and in generally arranging | |the mansion for the occupancy of | the Coolidges. i Several rooms received the personal | itouch of the late President and Mrs. | Harding, particularly the studio oni the second floor, where were placed | {many mementoés of their admini- | stration, gifts of friends and personal | belongings. These will be deft un- touched. . Col. Sherrill, who spent the greater | part of today at the White House,| said that he expected that the work of putting the mansion in order | would be completed few‘ day. i within a X EUROPEAN SMASH | IN FRENCH MAKING Monetary Association Head After; Tour Sees Interference Now | Hopeless. ated Press. W YORK. August 4 —"Nothing | England or the United States do can help Europe avoid a 1s h. unless France changes or is forced to change her policy,” John | . Sinclair of Minneapolis, executive | ichairman ‘of the World Monetary | ‘A\ssnmulmn. declared upon {rival he President R jafter a five-month survey of the jropean situation. “The curse of intense nationalism | |is to be seen all through Europe.” ' {he said. "I visited sixtcen countries Europe, including Russia. The that could his of ipicture of the conditions I have seen an never be crased from my |ory. The European economic, cial and industrial machine has broken i ragce.” he added, | policy which if not election next - i people will spell absolute ruin idisintegration for ail Europe.” [opMr. Sinclair urged that the gov- | lernment of the United States imme. jdiately call a world conference | war & < and reparat and in- { vite nation of Eurone owing money as a debtor to another nation including Germany and Russia, to attend. & > and rooms, $8 weekly: rooms. $8; with toilet. ‘shower and lavatory. 1 50 per cent more. Rooms Like Mot FLAT TIRE? | MAIN 500 LEETH BROTHERS Service C| e Never Over $1.00 and Mrs.| = i Ah—Ze Dinner for Tom'ghl.'i She Is Won-der-ful! Enjoy your dinner out in the open more frequently—atop the Le Paradis Roof. The food is wonderful—and fit for the Kings—prepared by our Chef, Antonio Dols, formerly chef to the Nobility in the “old country.” Special Steak and Italian Dinners Are Served at $2 Each No Cover Charge for Dinner. Whenever the weather is bad, service is resumed in the Cafe. Dinner and supper music and_dancing to the Famous Meyer Dav Le Paradis Band—now playing at Keith Cool as any Summer Resort If you take up your residence Mammoth Oak Gardens 1609-1611 Thirty-first Street you'll not feel the urge to go away for the summer— because here on the historic heights of old Georgetown— surrounded by their own private park it’s always com- fortable. The openness of the exposure in every Apart- ment—and the outlook—are both sources of drlight. Special provision has been made for the safety and comfort of the kiddies in a playground all their own. The secret of “much in little” has been solved in the complete compactness of these small Apartments— with their moderate rentals. at your evening inspection or Open for convenience — day Boss and Phelps The Home of Homes 1417 K Street Phone Main 4340 —of Painting, Paperhanging and Decorat- ing think of Tay & Estimates made en request HARRY W. TAYLOR CO. PAPERHANGING AND PAINTING 233 18th St. N.W. Tel. Col. 1077 Most Desirabl Apartments THE ARGONNE On Columbia Road at 16th St. Would You Buy A Home For $30 A Month Let Us Explain Our Plan | Four New Duplex Homes Something New—Inspect Today Two-Story Flats—Built Lik;: One_ House Just North New Eastern High School I'wo-story Houses with four rooms, bath and back porc cach floor. You can buy the building and rent out the s floor for enough to greatly aid you in purchasing the hou making a good speculation as well as an investment. Don’t miss this chance. There are only four of them and they will sell quickly. Electric Lights—Window Shades Plenty Room for Garages, Gardens and Flowers Hot-Water Heat—Large Lots £ e One Thousand Homes to Be Built-- Several Types and Rows Now Ready for ‘Inspection H T curities buyer to look before he leaps. | It has taught him the lesson of giv ing his investments in securities the { most careful sort of study. Outlook for Industry. When this army of buyers again turns to the purchase of securities it will be & larger army of discernjng buyers than the securities market. have ever known. Its potential bu ing power for legitimate securities will be enormous. This buying power will mean a real financing for the curities, and not a mammoth rake-oft for swindling promoters and for bucketeers. That buying power is to make the wheels of American indus- try spin as they have never spun be- ore. The stock market has been erratic, following the shock of recent revela. tions. The public has been hesitant. Industry is puzzled. Slowly, but surely, however, the stage is ‘setting for the stock market, the public and industry. to get to- gether—the stock market with its fconscience thoroughly awakened, the | public with a sense of thorough con- fidence and trust, and industry with its pulse throbbing to reach out to new endeavors. There are big times ahead. (The end.) ELKS TO PAY HONOR. Monday night at 8 o'clock Washing- ton Elks will gather in their club- house and honor the memory of their distinguished brother, Warren G. Harding. The program has not been completed. but it will embrace eulo- gies by prominent men and appro- priate music selections. John H. On- trich, exalted ruler of the Washing- ton Lodge, will preside. President Harding was a life mem- ber of Marion, Ohio, Lodge. In Ma: in the EIks' Club bearing the names of 470 members of Washington Lodge who had died in the war. Later, on December 3, 1922, the President at- tended the memorial services held hy the lodge at Centrai l&igh School. companies represented by those se- 1921, he unveiled the memorial tablet | that will satisfy all. O 3 : « T Near Two Car Lines Take 14th St. cau;. get off at 8th and Kennedy Sts. (two blocks south), or take any 9th St. car and get off at Ingraham St. (two blocks east). Phone Main 1267 for Information or Automobile to Inspect D. J. DUNIGAN 1321 New York Ave. NW. Dunigan’s New Restricted Subdivision— COLUMBIA PARK This will be a city in itself with a variation in architecture Prices to Suit All We Invite Inspection 0000 Phone Main 1267 (R \ Wonderful View of the Entire City and Beautiful ROCK CREEK VALLEY We offer in this magnificent, absolutely fireprooi building tasteful apartments that contain large, bright rooms, spacious closets, tile baths with all built-in fixtures Convenient Location Service Unexcelled Unsurpassed Neighborhood Reasonably Priced Reserve an apartment now for occupancy October 1st Your Immediate Personal Inspection Is Requested Apply to Manager on Premises or William S. Phillips REALTOR 15th and K Sts. N.W. FOR RENT Suitable for Repair Shop Will Hold About Ten Cars Located in Rear 16th & 17th, L & M Streets. RENT $75.00 Per Month Boss & Phelps 1417 “K"™ St. NW. £ WANTED! CITY AND SUBURBAN PROPERTIES ALL VALUES AND DESCRIPTIONS It will be e Mer: who can afford only one car,—and. who demand in that car the most pro- nounced economy— are among the most enthusiastic owners of the Hupmobile. List vour property with us for sale. properly advertised and pushed. We have ten hustling salesmen who will help You to find an acceptable purchaser. North Washington Realty Co. Incorporated Opposite State Department 1653 Pennsylvania Ave. Main 9716-6152 E. Brooke Lee P. Blair Lee B. Houston McCeney O STERRETT & FLEMING, Champlain 8t. and Kalorama Road. Columbia 5080. Branch Salsstoom 1223 Connecticut Ave. Over 200 Homes Sold A Few Now Available In the Shannon & Luchs’ INTOWN SUBURB 14th STREET TERRACE Two at $12.850 OUR AMERICAN BUNGALOW A detached two-story big six-room Home of unusual propor- tions. Actually less than a row house. Big living room. hand- some stone fireplace, large five-windowed dining room. pantry, and one of our modern kitchens. Bright, finished cellars. hot- water heat. Situated on top of the hill overlooking entire city, and just one-half square irom the 14th St. cars. Right on Kennedy St. Just East of 14th St. 4 SEMI-DETACHED BRICK ENGLISH DESIGNED HOMES Price Only, $15,500 This is a remarkable home in many respects, possessing, as it does. all of —our original Home Comiort ideas. There is the Club Room or man’s room on the main floor, with private toilet: 4 master bedrooms with large closets, beautiful bath, large attics. big dining rooms and handsome library or living room. Separate furnace and coal rooms. also separate cold storage room. Right at 14th and Ingraham Sts. N.W. OUR USUAL EASY TERMS Our Ingraham St. Homes Built for the family willing to pay as high as twenty or twenty-five thousand. Our Price Now $16,250 These Homes have always sold as quickly as we could get them com- pleted. We are selling now irom Sample Home. ' e A home so designed as to afford wonderful entertaining facilities. Very ‘handsome main floor of Living Room. Dining Room and large Club Room. Four very fine Master Bedrooms. And two finely finished Baths. There are also attics, and the general finish and appointments are cqual to anything in Washington selling up to $25/ WHY PAY MORE? Washington Has Never Had Such a Successful Ho me Development GO TODAY AND SEE - TO INSPECT— Take any 14th Street car (the finest service in Washington) to Ingraham Street, or drive out 16th Street and through Colorado Avenue. SHANN®ON & LUCH OWNERS AND BUILDERS