Show TOUTING bond Issues floated by the Peruvian government now being in default American American Amerlean Amer Amer- ican lean Investors must have read with considerable considerable considerable consid consid- erable Interest charges made In Washington that attaches of our consulate at Lima were instructed to paint conditions in Peru with friendly and flattering brush to help sell the ponds bonds Before the senate finance committee In Investigating Investigating investigating in- in foreign securities and bond Issues generally a former at Lima testified he had reported to Washington the bonds were unsound and warned the commerce de department department department de- de in formal reports He was directed by a superior in the commerce commerce com corn merce department he charged to send in favorable reports only At the same session a salesman for J. J W. W Seligman company which handled the Peruvian bond Issues testified he warned his employers against the loans This method of misrepresenting foreign bond issues to create a favorable impression among American investors is looked upon in inWall Vall Wall street as dressing up the market whereas such practice is not a whit different from the practice of the racetrack tout in boosting business at the betting booths the thc of foreign In view of collapse many securities the repudiation of issues and the I great loss to American investors it is about time Uncle Sam took a hand in the business and put a stop to government connivance This country does not owe any nation on onearth onearth onearth earth the obligation to misrepresent foreign I securities to the extent of sending American dollars abroad to be invested in securities which are later to be marked down as worth worth- less The original Penn wiper has been found It is a handkerchief once used by William Penn and is to repose in a Pennsylvania museum While Hawaii is at a standstill under military military mil mu- rule it is to be presumed there is still some movement in the hula |