The evening world. Newspaper, January 14, 1921, Page 3

IN PLAN TO PROTECT SWINGS BANKS ~_THE FOREIGN BORN AVill Seek Legislation to Enable| Them to Transmit Money to Europe. Evening World’s Exposure of Shark Brokers and Agents _Leads to This Step. ~| By Martin Green. ‘The mast important move ever un- | dertaken in the direction of protect- ing the foreign born of this country from exploitation by Irresponsible and | * unserupulous persons calling them- | selves “bankers,” “brokers,” “agents” and “notaries” is about to be launched by tho savings banks of the State of New York. It involves the enactment , of laws which will permit savings banks to sell foreign exchange and) transmit money to foreign countries. | Harrison H, Wheaton, executive | manager of the Savings*Banks Asso- ciation of New York, is committed to the iniovation, which would’ shift tvom the immigrant banker, broker or agent who is in the money transaction business only for profit to be realized by dishonest practices, to the time- honored, solid, conservative savings bak, the transfer of money from this country to the poor and needy in En-| rope, 9 : The laws, according to Mr, Whea- ton, would already permit a savings bank to sell foreign exchange, but there must be special legislation to! nable it to transmit money. The | contemplated innovation also includes projects which, in time, will make the savings bank what it should be—the finanoial institution closest to all the people. The Evening World's revelations of | the exploitation of the foreign-born of | this city are directly responsible for | the plan to enlarge the sphere ‘of activity of the savings bank, it comes | xt an opportune time, for the savings hanks of the State have just launched on intensive advertising campaign In | he fSreign language press and have naugurated a widespread educatignaT ‘vampaign to attract the savings of 4. the immigrant class. , i MUST FIRST GET CONFIDENCE OF THE FOREIGN BORN. Superintendent of Banks George McLaughlin is of the opinion that unce the sayings bank comes into close contact with the foreign born the immigrant banker will voluntarily go out of business, because there will le no bysiness for him to do. The juain thing js to establish that close sntact, and the Savings Banks As90- ciation, with that end in view, is con- ducting an intelligently devised cru- sade in which the immigrant, in his .wn language, is belng instructed . concerning the principles and opera~ sions of American financial organiza- tons. ‘The big job 46 to inspire confi- deneg The American banker up to this time has either ignored the immi- grant’s savings or taken only suchas ame to him voluntarily, He has not gone after the savings of the foreign horn, and the foreign born have, therefore, practically been forced to dio business with people who speak the Junguage of the countries of their birth, As The Evening World has shown, this condition has futnished opportunities for thousands of delib- rate foreign born swindlers to fleece their countrymen by operating under varlous pubterfuges as bankers, To the foreigner any institution that ‘calls (self a bank or masquerades as a bunk or does business in money, 15 & uk. Soine of the savings banks of New York Dandie the savings of a cor able hurnber of foreign born depust- ors, but receiving deposits is the nit of their actiVities. It is contem- slated to spread out into the foreign Cuarters and go into active competi- tion with the! immigrant bankers. Such of the banks as deal exclusively th the foreign born and are honest iD their transactions will not be yarmed by the introductic into their }, ‘sphere of the American savings bank { Ag b ms factor But the dis- jionest and the men who are doing $ bankers without any au- responsibility will be olimi- thority ¢ nated in a hurry. Che expdrience of the foreign born th banks in general has not t pleasant, The men who exploit the migrant, studiously seek to poison mind against American finunetal stitutions, Consequently the imini- rant ls kept in a position remote from American thought and Amenivan methods and i8 casy prey to those er his money or after his ‘The immigrant is constantly ‘ unsafe for ‘ nt savings urcat proportion of the foreign bern this city do not know that Ameri- ubsolutaly reliable, wolr anoney and pay % to 4 per cent, Interest WHY THE FOREIGNER IS EASY PREY FOR THE SWINDLER, ot being encouraged in the habit of | jerg the currency is greatly det 41, Milliony of dollars of Immi- mut are being invested OM COUGHS", JOUN'S seule Telling PRNME gow. A Hav AS, BLOW TO FAKE BANKERS.| NS HANIMERSTEIN TURNS FROM OPERA TO SOAP FACTOR Says Demands of House Em- jPloyees Render Ventures There Unprofitable. Mrs. Oscar Hammerstein, widow of the impresario, to-day declared that Yather than svbmit to the “unjust de- mands‘and picayune tactics” of the International Alliance of Theatrical Hmployees and Motion Picture Ma- chine Operators, she will close the Manhattan Opera House and turn it into a soap factory, “Rvery produétion has been a means of overcharging by the theatre em- ployees," Mra. Hammerstein said. “It has came to ‘the point where the outrageous a¢tjons of the men have becoma intolerable, I¢ it does not stop, I will have to close and. would rather have the place used to make soap than, be continued as a means of extortidn,” ‘The \ incident that brought Mrs. Hammerstein's anger to a climax was a dill submitted by a property man account for ogly two hours, tbut in- union: for a decision. Lionel Johnson, he ‘had a record-of many instances of oppression by the employees’ or- fore Laibor. ‘The union recently has demanded the same basic, wage scale for comic opsea productions as is paid .for grand opera, Mr. Jdhnson said. foreign money.‘ Immigrant bankers encourage this practice because they make profits on the exchange from dollars to foreign money and also on the transthission. European banks are — opening branches in the Uniyéd States—in fact some of the branches of Euro- pean banks do an enormous business. ‘This, the most prosperous country on earth, has a contparatively small per- centuge of savings bank depositors. Ac ding to*Miss Frances Kellor’s book, “Immigration and the Future,” a recent report showed only 12,600,000 savings, bank depositors in the United States out of an estimated population of 107,000,000. Only 685,000 persons are depositors in the Postal Savings Bank. Belgium, with a population of 7,- 571,000, has 3,063,000 savings bank de- positors, The savings bank deposi- tors of Denmark total 1,315,000 in a population @f only 2,021,000, Ger- many, with 66,715,000 population, has 27,206,000 savings bank depositors, and Japan, with 56,360,000 population, has savings bank depositors numbering 25,600,000. In European countries 42 per cent. of the population are savings bank depositors; in this country only a lit- tle over 11 per cent. ,The foreign born of the United States are not putting | Street to 58th and down 58th Street to the Exst River, forms the nucleus of thelr money in the savings banks, Now the savings banks are going into the forgign quarterg to look for business, but, the projectors of the idea have come to realize that they must d@er something more than 4@ mere opportunity to deposit money, The foreign born person who will be attracted to the savings banks is a saver Of small sums and almost in- variably he has relatives in Europe to whoin he sends money—or tries to send money Inasmuch as the foreign born sav- ings bank depositor {s a transmitter s wéll, the savings banks will have to take care of the transmission busi. ness, It is planned to conduct th branch as an institution separate from the deposits end; to employ men and women who can speak all the foreign languages and are sympathetic and know how to be.helpful “NO PROFIT” FEATURE WILL END THE SWINDLING. ‘The charges for tranemission of money are to he only heavy enough to cover the Renee of the foreign exchange department. . It is antict- pated that as soon’ as it becomes the immigrant class savings banks will transmit y , the bulk of the small “gift ’ business will go to the savings banks, Of course it will be necessary to or- abroad, but this ts a n be attended to with- out much trouble, The plans provide for careful service, as safe as it la possible to make it. There will be no profit for the ‘nit or miss immigrint banker, broker or agent in transmit- ting mosey in competition with an in- stitution which doesnot alm to make a profit. ' The transmission business will draw hundreds of millions of deposits into the savings banks. ‘The crying need has been the reaching of a point the immigrant comes to have confidence in the savings bank, Once that lg established the exploitation of the foreign born will be materially re- duced and "“Americanization” — will huve taken a long step forward. Out on Front. , — By Will B. Johnstone. way of living in New York City. ting the town all over Sutton Place community, the most expensive, exclusive an to become ried a daughter of Mayor Gaynor, Also, there's Ellot Cross, celebrated married took, daughter of Colonel architect, Martha ae and Mrs, who recently lohtt MeCook of Tuxedo: Lee, Higginson &Co,, Geoyge M. Os- born, Rosecrans Baldwin, * Lonald Frothingham, Walter Damrosch, fi- mous conductor and composer; °M Loriiiard Cammann, F. Mrs. Chauncey Smith, Miss Elisabeth Marbury, H. H. Sprague, Dr, Stillman’ of Rockefell Prof. J. P. Chamberlain of Columbia University and Dr. Foster Kennedy, all of whom lend social, artisuc and professional color to the colony, Sutton Place is perghed on a hill that juts bay-witdow-like into the Bast River at the foot of 67th Street, once t ” brownstone centre Jew York fashionable world. of the Ney Blocks of these old, well built, man- ions have gone to seed here in late stimulated interest in them as desir- able for remodelling purposes, espe- clally since the new zoning system protects the district against further encroachment by business. WHY SUTTON PLACE LENDS ITSELF TO ARTISTIC BEAUTY. An L of eighteen old brownstones fronting Sutton Place, up from th ’ Straw, Hair and Also on Sale in our Brooklyn ald Newark Stores ‘ THE EVEN Living Rooms in Rear of Re-! made “Palaces” Will Look East River and Great Garden—Kitchen and| Servants’ Entrance on Street Society has fallen under the spell of the “grtistic centre,” the modern With tsolated “studio colohies” dot- with ttle Greenwich villages, now comes the west, ing for twelve hdurs’ overtime. She chal-| the others one better—the most fash- lenged the dill and says he eould|lonable, You have to be way up in “Who's, sisted the dispute be submitted to his] Who” to gain admission into this se- lect settlement, foremost in which is attorney for the]/Mrs. William K. Vanderbilt, who is Injted Managers’ Association, said | deserting her ‘dittle-old-last-year's” French chateau on Fifth Avenue (at ganization and would lay a complaint | Fifty-second street) the American Federation of | Suttonite; a another “who” being W. Seward Webb jr, whose mother was Lila Osgood Vanderbilt, and who mar- Robert C. Knapp, Frederick Allen of : Mus. D. Griswold, Edgar Institute, years, but residential exigencies have Smart Mid-Se TTON COLONY AS (T IS. TODAY, Age the new colony. ‘The compined/ back | yards will be made a Commop gardgn, | containing tfees and an_ irregular flagged walk along the edge of the bluff that overlooks well kept Black- well's Island and commands a mag- nificent view of the colosaal Queens- horo Bridge and the river, up and down, tilled with interesting craft. “It's the obvious thing to do,” said Mixs Elisabeth Marbury, Sutton colo- nist, in explaining the reason for this invasion of the east side by the so- cially prominent. “Here is sunlight and air and a river view as desirable as Riveraide Drive. Why should the East River froht be neglected? Our garden will besa gem; a quaint old English garden with red bricked wall, 4 regular ‘Pomander Walk.’ “The river embankment is now shrub covered and will be artistically treated with a terraced stairway lead- ing down to the water. (There is no unsightly railfoad skirting the river front.) “The Fifth Avenue bus line will find it profitable to run east on Sith Street (it already rugs west), as the Sutton section will watrant it. “Two studio apartments will be put up across from our property. One on the southeast corner of Sutton Place and 57th Street, the other on the| southwest corner. “These will not be so high as to shut off the sunlight. “The interiors of our ok! brown- stones will be eompletely turned about,” went on Miss Marbury, “Liv- ing rooms, dining rooms, drawing rooms and master bedrooms will be in the back, facing our delightful garden and river view, What is now ‘the front of the houses will be devoted to | service entrances, kitchens and maids’ bedrooms. ‘In this way the houses will be isolated from outside surroundings so far as owners and muests are concerned.” FASHION’S NEW CENTRE AN ARTIST-ARCHITECT’S DREAM, Eliot Cross of Cross & Cross, archi- tects, No. 681 Fifth Avenue, conceived the idea of rehabifitating Sutton Plave when his attention was arrested by this interesting spot while’ passing: over Queensboro Bridge last summer, ‘The odd formation of the houses ant ina ‘wortp, FRIDAY, New-York Society Folk to Turn Backs on City . “ In ‘Their New ‘Art Centre’ in Sutton. Place a) 5 ps i HOW GAR! IMPROVEMENT (Read _ Sante as the investment will at least total $2,000,000. ‘Tho place was named after George Sutton, who acquired the property, ‘then a large estate, in 1837, The brownstone colony of fifty years ago considered it a valuable location. All the old brownstone protrusfons will be ghaved off the buildings, and the exteriors as well as Jntentons will be artistically treated, producing the | |) charm associated with secluded home | |) colonies of O14 London, Fan-shaped door and window tops, pilasters, broad brick stoops of two and three steps, braas knobs on ral! posts, brass and silver door knock- ers, extending windows, lattice work, clinging yines against,sbuccoed walle and old-tashioned brick will make a | picture to delight an artist's eye. Mrs. Vanderbilt acquired No. 1 Sut- ton Place, and No. 3 was tiken by | Mrs, Stephen H. Olin, Mrs, Vander- | bilt's sister. The rebuilding of Mra. Vanderbilt's home which, it is est!- mated, will cost about $100,000, ts in charge of Miss Elsie De Wolfe, decor- ator, All but three of the houses have been sold, DRANK POISON IN A.MOVIE THEATRE Overseas Soldier Dying After Quarrel With His on overseas veteran stationed at Camp Dix, is dying In the Northeastern Hos- | pital from the effects of poison he swal- | lo t night after an argument with Sweetheart. | } (special to The Brening World el Tl PHOLADELPHYA Jan, 14.—Sergeant sernord G. Parr, twenty-elght rs old, | i} Persons entering a motion picture the- | 6 saw the soldier, who was standing rue a bottle to his Nps and the zentents. Then he stag gered and fe Parr is said to have be n engaged to Harriet Hanson, No, 1829 Bast Wishart Str According to the police, he had qnarrelied with her since his visit here from Camp Dix. Smith at Truckmen's Former Gov. Former Gov. speaker at a beefsteak dinner to-morrow |, night, to mark the amalgamation of the New York Team Owners’ Asvociation with the Merchant Truckmen's Bureau |# location suggested a treatment that would make for cozy aloofness. It will make g fine improvement, 34th Street—New York. Special Millinery Value Saturday Silk Bri s and Cellopha Floral, Fruit, Ornament and Ribbon Trimmings. Regular 12.50 Values. Spe ason Hats A choi€e selection of advance styles in Batavia of New York. The dinner will be at ‘avanagh's restaurant, No. 258 West d Street. 17.50 cial | NUARY 14, 1921. * , derney Cy 1 a8 a precaution, on hie own ; . Nia Inithitive and not upon any. retroctions | Ren cation hief of Palin Battersby of Jersey | trom Waahington or elaewhore : : Wea last night had an extra detail o! sishicssiangiilpioslahalanpibinh vitly "10 Tas on guard at oudlic bulldings®,| vest Deivée Acqaitted In ¥ County Maveker banks and worts| Ah ation. oF a He Waa al wits AM | tight. Chiet Battersby Aald the ‘action hold-up mam troaped afl ue had an Anan 1 2 *lelnimed jhe hot know he guard i |Tousten Street, Manhattgn, driver of {lobbara for paxéingeks “until i coos remained at Taos the automobile Inewhieh five ked {caving thes held a won at his Head Orkin’s Taffeta and Canton Crepe are the Vogue in New Springtime Frocks $ \ Very Specially ie Priced e - with $29.00 Taffeta, Puffed Tunic, | BF $29.00 129.00 i} 7 WN i POCORN I vneDUD AL i mma ie % Y \ ? | 4 ‘THESE charmingly youthful models are among the most attractive of. the new Spring frocks, and at this special price are as ‘great an achieve- ment in value giving as they are in distinctive fashion. Designed on the fuller silhouette favored by Paris, they are particularly winsome with cord- | ings and rufflings or quaintly puffed tunics with close-fitting bodices. Three | ig of many lovely models illustrated. BEIGE GRAY BROWN NAVY + BLACK The Specialized Dress Salon is aglow with New Focks, in every new fabric, at every price starting as low as $24.00—up to $125.00 fc FRANKLIN: SIMON MEN'S SHOPS 2108 WEST 38th STREET TOMORROW Present an Unprecedented Sale of iu Men’s Hand-Tailored Suits ‘ Regular Prices *85, $90 and %95 Reduced Price $55, All From Regular Stock A SMALL CHARGE WILL BE MADE FOR ALTERATIONS ee en SS eee ee