THE PROFESSIONAL MAN'S INVESTMENTS Every month the WORLD'S WORK prints an article on investments and the lessons to be learned therefrom D R. ROBERT T. MORRIS is one of those in the medical profession who has learned much by experience of the ways of the "get-richquick" promoter. He is in good company in this, for doctors, ministers, ministers, teachers, and professional men generally are considered by such fake promoters as among the best prospects for stock-selling swindles. It is easier to find doctors who have lost money in fraudulent or ill-advised financial schemes than it is to find those who have not. And few of the former have learned the investment lesson to be drawn from their sad experiences as well as Dr. Morris has. He summarizes his investment training in very definite terms. Professional men frequently invest in new enterprises at a distance although they are too busy to visit them personally or to study conditions in the field of their investment. These enterprises are classified by Dr. Morris in two ways: Enterprises conducted by business men who are playing a sharp game; and those conducted by honest men who really plan and hope to win. "The only difference between these two classes of enterprise," he says, "is that in the first case the money is lost quickly, and in the second case there is long-drawn-out anxiety, with introduction of complicated emotions before the money is finally lost. On that ground, investment with dishonest schemers is preferable for doctors on the whole because the money is lost sooner and the worry quickly over. My own investment experiences have been with both classes of enterprise. I bought stock in a new mining company which was recommended very highly to me. The first year I received a 7 per cent. dividend, which, I am fully convinced, was paid for no other reason than to have stockholders like myself talk about it. After that dividend nothing more was paid, and the stock has since gone down until it is off the list. The earnings never justified the payment of any dividend. I also bought shares in a company that planned to build a sanatorium in the South for consumptives. The location chosen was excellent for the purpose, and I knew one of the doctors identified with the proposition. He was an authority on this disease and a man of high reputation. He must have been misled in regard to the nature of the scheme in order to get him in and make use of his name, for after a short time I got notice that taxes were due on the property and that I must pay an assessment on my stock by a certain date or the stock would be forfeited. Nothing had been said about the stock being assessable when I bought it. The notice was purposely sent so late that I could not make the payment. I took the matter up with a good lawyer, but we decided the best plan was to drop it and consider the money in the stock as lost. "At another time a former patient got me to buy lots on Long Island. The proposition looked good as an investment. A great many went into it but the expected growth of the neighboring town never reached the development where the lots were located. Every one waited to sell out at a profit and no one built. I still own the land for the good reason that it cannot be sold. Since then I have invested considerable money in real estate which is valuable to-day, but it is all property which I have chosen myself and which I can keep watch of. On everything that has been brought to me by others I have lost. I lost money in the stock of a pecangrowing proposition, although I know a good deal about that business. I took the advice of personal friends in regard to this investment. One such proposition investigated by a friend of mine for the Government was found to have set out trees and raised $200,000 by sale of stock and to have done absolutely nothing more. "You can see why I no longer put money in new enterprises but confine my investments to listed stocks and bonds, and to real estate about which I have personal knowledge. I have learned by experience, and I shall be glad if others can profit by my horrible example." I. THE GERMAN SPY Characteristics of Von Bernstorff, Von Papen, and Boy-Ed-The Night of the the Traps Were Laid by Which They Were Un By JOHN R. RATHOM, MR TR. RATHOM, in the series of articles of which this is the first, makes exposures of some of the German plots in America-describes the channels of communication he established in many parts of the United States, the wireless codes and the messages the codes deciphered, the weaknesses of Teutonic agents that were studied and utilized, the loyal Americans who helped outwit the most acute diplomats and secret service men of the Central Empires. What he found was evidence of more than a series of isolated plots, more than a group of activities inspired by the fever of war. Instead, the evidence of these activities showed that they spread out into a most far-reaching network, of perfect pattern, woven patiently by one central band through years long before the war in Europe began the systematic, secret war of the Kaiser on the American democracy, a war conceived in the cool calculations of peace, using diplomats, men of learning, professional men, and the leaders of our business life in an orderly plot to undermine our ideals, to control our commerce, and finally to conquer our nation by force of arms. The story Mr. Rathom has to tell has all the action and adventure of romance, but it has besides a message for the most serious contemplation of the American people—the message that this machinery of internal disruption is still in operation, that the agents of the Kaiser still ply their trade of death in the United States, that this deadly peril is still in our midst. It is the patriotic desire to warn the people of the Nation of this continuing peril that has prompted Mr. Rathom to tell this story of experiences in unmasking the German plots.-The Editors. Copyright, 1918, by THE WORLD'S WORK. All rights strictly reserved. T O PROPERLY understand the story of German intrigue in this country it is necessary to realize that the work of propaganda opened up through the German Embassy in Washington at the beginning of the European war was not conceived in a night, and did not spring full-grown out of the emergency then created. The United States, the only great nation in the world without any political secret service or espionage system, with no knowledge of secret diplomacy, no machinery with which to guard its military, naval, or governmental 'secrets, the ranks of employees in every gov ernment office freely open at all times to men and women of every nationality, and containing within its borders the most polyglot population ever brought together under a civilized form of government, had been for thirty years before the outbreak of the European war a fertile field for German propaganda. Germany's sources of information with regard to every condition about which she desired to secure information in this country were practically limitless; a large number of willing and subservient Germans, working without hindrance or any suggestion of espionage, had been enabled during a long period of years to lay before the German Foreign Office SYSTEM FROM THE INSIDE Lusitania Sinking-A Wireless Episode-How the Plots Were First Detected, How earthed, and the Men Who Did the Work EDITOR OF THE PROVIDENCE "JOURNAL" THE ADVERTISEMENT THAT INFLAMED AMERICA LINE Steamships ¡LASGOW lay 1, Noon 1 Pier 64, N. R. May 7,5p.m. rpool. It appeared in the ot W 14th St. All-the-Way by-Water LINE. Steamships Lve. Pier 19, 6 P. M. Tues., #htful 300-mile, 2210 CITY BEAUTITourist and N. Y one: 8980 Cort. CORPORATION. Embassy LINE +rn Route ra from Paris. & MARSEILLES ant' Anna..June 5 bon & Marseilles Aug. 3 17 State St., N. Y. oma 11 DAYS. Caserta ..... June 25 en $65 & $90 up. B'way. N. up: LOBIDA Points South. ifth Ave., N. X. ADVERTISEMENT. NOTICE! TRAVELLERS intending to embark on the Atlantic voyage are reminded that a state of war exists between Germany and her allies and Great Britain and her allies; that the zone of war includes the waters adjacent to the British Isles; that, in accordance with formal notice given by the Imperial German Government, vessels flying the flag of Great Britain, or of any of her allies, are liable to destruction in those waters and that travellers sailing in the war zone on ships of Great Britain or her allies do so at their own risk. IMPERIAL GERMAN EMBASSY WASHINGTON, D. C., APRIL 22. 1915. very complete information which might be useful to the Fatherland in any future emergency on this continent. Even in the ranks of our army and navy, there were hundreds of men, citizens only in name and owing their first allegiance to Germany, keen and eager to do at any time whatever Prussia called on them to do. The secrets of our mills and factories, the methods and scope of our great banking interests, the operation of our railroads and our shipping-all of these facts had been for years the very alphabet of Germany's knowledge of our daily life, a knowledge secured not by outside spies working under immense difficulties, as would have been the case in any NEW ENGLAN HEATON Stockbridge, M in the Be WILL OPE' This Modern Hote Delightfully Located. Havill, will be at the 47th St., New York, is 10th. Information rega be promptly attended Marblehe BOOKLETS EARI Y STOCKBRI NOW MICK' Mount! country of Europe, but from the very heart of our economic and social movement by an organization of men actually engaged in the work itself. Thus it was that when the German Foreign Office, through the Embassy in Washington, began what appeared to be the easy task of moulding American sentiment to its will, all the necessary machinery was ready at hand. This condition, coupled with the firm belief on the part of Germany that the millions of her subjects who had become citizens of the United States would not hesitate for a moment in any choice that might be laid before them between adherence to the fortunes of Germany FROM- Berlin. Foreign Office. TO Botschaft. Washington 6613669. (44-W) - Welt nineteen-fifteen warne 175 29 1 stop 175 1 2 stop durch 622 2 4 stop 19 7 18 stop IIX 11 3 4 5 6. Transatlantic Passenger Steamers. TRANSATLANTIC PASSENGER STEAMERS. 175 Includes only regular passenger lines from New York: Owing to the European war this list is liable to change, many vitally important elements in our commercial life. It was, therefore, on known ground that Ambassador von Bernstorff and his associates began their work of intensive cultivation of Prussianized Builders. AMERICAN LINE. (Oilice, 9 Broadway.) DIMENSIONS IN FEET. 12 ANCHOR LINE 13 10963 11000 14 1901 Glasgow... D. & W. Henderson... 1904 Glasgow.. D. & W. Heuderson... 9232 country. With 16 1907 Glasgow... D. & W. Henderson every path ap parently wide Minneapolis..... 1900 20 Minnehaha........ 1900 21 Minnetonka....... 22 Belfast... Harland & Wolff. 1901 Belfast....... Harland & Wolff.. Minnewaska... 1909 Belfast......Harland & Wolff, 18543 9500 615.6 65.5 43.3 Minnekabda .... 1915 Belfast....... Harland & Wolff................ 620 66 کا AND LIVERPOOL, Piers 53, 54, 56 N. R.) (Office, 21 State Street.) ESTABLISHED 1840. PROOF THAT THE GERMAN GOVERNMENT AT BERLIN— The cipher message at the top, which came through from Nauen to Sayville at 2 A. M. April 29, 1915, and was caught by the Providence Journal's wireless operators, created great interest in the Journal office because it followed none of the known codes and, in form, was unlike any other message that had been received at Sayville up to that time. It was interesting also because static conditions were unfavorable that morning, and the fact that four attempts were made before it was successfully put through showed that it was of more than ordinary importance. Every attempt to decipher it failed until somebody with a line on the internal activities of the German or to the land of their adoption, seemed in the minds of the men responsible for her foreign policy to make it certain that in whatever channel they desired to direct American. sentiment their will would be practically law. For nearly a generation German influence on American school boards had been insidiously shaping public sentiment here through our school books and histories. Exchange professors, liberally sprinkled with Imperial decorations, had maintained and increased a constant propaganda of reverence for Germany and German institutions through many of the educational centres of the United States. And the great German commercial houses which had secured a foothold in this country, and which were virtually outposts of the German Foreign Office, had gained strong positions in open to their feet, they proceeded, at first without any thought of serious opposition, to mould the United States to their will, to stultify our national ideals, and so drug our national conscience that, regardless of what might happen in Eur ope, we would stand by, a dis interested spectator, except for the growth of a keen desire to see Germany triumphant. It is well, to begin with, to know something of the personality of the men into whose hands was entrusted this new and crowning movement which was to lead to a glorious success for German diplomatic methods. For purposes of this analysis it is not necessary to dwell on the personality or character of Ambassador Dumba, the representative of Austria in this country, or any of his fellow-officials representing that Government in this country. None of them, from the day war began, was ever anything but a puppet in the hands of German Embassy officials; they had no will of their own, and they had been directly ordered through their Foreign Office to put ༢ 23 6 5 7 622 National Model License League. STATISTICS OF THE PRESS THE American Newspaper Annual and Directory, published by N. W. Ayer & Son, reported the number of newspapers published in the United States in 1914 as follows: Alabama......... Alaska Arizona................... 243 Indiana 25 Iowa........... 68 Kansas 324 Kentucky 762 Nebraska. 944 Nevada.. 641 South Carolina. 168 735 New Hampshire.. 110 Tennessee. 311 themselves en- THE WORLD'S purpose, to "turn on the light" in the interest of the people at large, was not forgotten during the year 1914. This inspiring alm was responsible for a remarkable feat in Journalistic world. It led THE WORLD to investigate the business, methods of the New York, New Haven and Hartford Railroad Company, nothing daunted by the fact that the corporation was controlled by some of the greatest living financiers, men whose decisions were supposed to be the —DIRECTED THE PRINTING OF THE "LUSITANIA" ADVERTISEMENT " When the propaganda of the Embassy began to meet with opposition, and it gradually dawned upon the minds of these men that the task before them was filled with pitfalls and difficulties, it was interesting to note the change in their attitude. Ambassador von Bernstorff took up the rôle of martyr. He posed, and succeeded in having his pose believed in by a large part of the American public, as a creature of unfortunate circumstances, crushed between the upper and nether mill-stones, and powerless to prevent the growing insolence of his Foreign Office, as displayed against the United States. Returning to the Embassy from a visit to Secretary Lansing on April 10, 1916, after the attack on the steamship Sussex by a German submarine, he said to Prince Hatzfeldt, in the presence of Baron von Schoen, First Secretary of the Embassy, Haniel von Haim |